2023-09-012024-08-312024-08-31false14306483The Tufton Arms Hotel 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The Tufton Arms Hotel Limited

Registered Number
14306483
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

The Tufton Arms Hotel Limited
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

Mr D W Milsom
Mr J R Milsom
Mr N D Milsom

Registered Address

Tufton Arms Hotel
Market Square
Appleby-In-Westmorland
CA16 6XA

Registered Number

14306483 (England and Wales)
The Tufton Arms Hotel Limited
Statement of Financial Position
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets312,40013,075
Tangible assets437,55936,634
49,95949,709
Current assets
Stocks140,15077,888
Debtors517,08722,428
Cash at bank and on hand16,77129,431
174,008129,747
Creditors amounts falling due within one year6(258,795)(140,255)
Net current assets (liabilities)(84,787)(10,508)
Total assets less current liabilities(34,828)39,201
Provisions for liabilities7-(7,000)
Net assets(34,828)32,201
Capital and reserves
Called up share capital3030
Profit and loss account(34,858)32,171
Shareholders' funds(34,828)32,201
The financial statements were approved and authorised for issue by the Board of Directors on 15 August 2025, and are signed on its behalf by:
Mr N D Milsom
Director
Registered Company No. 14306483
The Tufton Arms Hotel Limited
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment, and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery20-
Fixtures and fittings20-
Vehicles20-
Office Equipment-3
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year2122
3.Intangible assets

Goodwill

Other

Total

£££
Cost or valuation
At 01 September 234,7509,00013,750
At 31 August 244,7509,00013,750
Amortisation and impairment
At 01 September 23475200675
Charge for year475200675
At 31 August 249504001,350
Net book value
At 31 August 243,8008,60012,400
At 31 August 234,2758,80013,075
4.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 September 2317,242-25,18020042,622
Additions4,9442,4691,0466919,150
At 31 August 2422,1862,46926,22689151,772
Depreciation and impairment
At 01 September 232,988-2,933675,988
Charge for year3,2642064,5162398,225
At 31 August 246,2522067,44930614,213
Net book value
At 31 August 2415,9342,26318,77758537,559
At 31 August 2314,254-22,24713336,634
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables1,3368,722
Other debtors8,0009,022
Prepayments and accrued income7,7514,684
Total17,08722,428
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables89,47585,264
Taxation and social security56,64036,900
Other creditors101,6812,512
Accrued liabilities and deferred income10,99915,579
Total258,795140,255
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate of the settlement can be made. The provision for deferred tax is made up of accelerated capital allowances.

2024

2023

££
Net deferred tax liability (asset)-7,000
Total-7,000
8.Directors advances, credits and guarantees
On 1 September 2023 a Director owed the Company £8,481. During the period this director was advanced a further £48,572 and repaid £57,053. As at 31 August 2024 this Director owed the Company £nil. Interest of £82 was charged on this loan. On 1 September 2023 a Director owed the Company £nil. During the period this director was advanced £57 and repaid £57. As at 31 August 2024 this Director owed the Company £nil. No interest was charged on this loan. On 1 September 2023 a Director owed the Company £541. During the period this director was advanced a further £46 and repaid £587. As at 31 August 2024 this Director owed the Company £nil. No interest was charged on this loan.
9.Related party transactions
The company's trade is operated from a building which is jointly owned by the three directors. No rent is charged to the company by the directors for the use of this building. During the year the director had a loan account with the company. At the balance sheet date the company owed the director £40,883 (2023 - £nil), This loan is unsecured, interest free and repayable upon demand. During the year the director had a loan account with the company. At the balance sheet date the company owed the director £41,026 (2023 - £1,445), This loan is unsecured, interest free and repayable upon demand. During the year the director had a loan account with the company. At the balance sheet date the company owed the director £18,099 (2023 - £nil), This loan is unsecured, interest free and repayable upon demand.