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Registered number: 09744904
THE LIFEBOAT AND CHEQUERS (THORNHAM) LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 31 MARCH 2024
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THE LIFEBOAT AND CHEQUERS (THORNHAM) LIMITED
REGISTERED NUMBER: 09744904
BALANCE SHEET
AS AT 31 MARCH 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 September 2025.
The notes on pages 3 to 8 form part of these financial statements.
Page 1
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THE LIFEBOAT AND CHEQUERS (THORNHAM) LIMITED
REGISTERED NUMBER: 09744904
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
Page 2
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THE LIFEBOAT AND CHEQUERS (THORNHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
The Lifeboat & Chequers (Thornham) Limited is a company limited by shares and incorporated in England & Wales. The company's registration number is 09744904 and it's registered address is Units 2-3, The Wheelwrights Lower Green, Higham, Bury St. Edmunds, Suffolk, England, IP28 6NL.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
Subsequent to the year-end, the company’s trade and operations were transferred to its parent company, Husk Holdings Ltd as part of a group restructuring. As a result, the company has ceased trading and is expected to be wound down in due course.
Accordingly, the directors have prepared the financial statements on a basis other than going concern.
Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales-related taxes.
Revenue comprises income from food and beverage sales and accommodation services.
Food and beverage revenue is recognised at the point of sale when control of the goods transfers to the customer.
Accommodation revenue is recognised when the guest stays at the premises, which is when the performance obligation is satisfied. Revenue received in advance of the stay is deferred and recognised as income on the date of the stay.
Where deposits are received for future bookings, these are recorded as deferred income and recognised in revenue when the related service is provided.
Page 3
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THE LIFEBOAT AND CHEQUERS (THORNHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Page 4
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THE LIFEBOAT AND CHEQUERS (THORNHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
2.Accounting policies (continued)
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, 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 profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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The average monthly number of employees, including directors, during the period was 3643.
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Page 5
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THE LIFEBOAT AND CHEQUERS (THORNHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
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Charge for the period on owned assets
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The Net Book Value (CY) disagrees with the CY closing NBV balance (per the Trial Balance). Please apply a suitable journal in your trial balance to resolve this.
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Amounts owed by group undertakings
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Prepayments and accrued income
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Amounts owed to group undertakings are interest free and repayable on demand.
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Page 6
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THE LIFEBOAT AND CHEQUERS (THORNHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Charged to profit or loss
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The provision for deferred taxation is made up as follows:
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Fixed asset timing differences
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Short term timing differences
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Losses and other deductions
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Page 7
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THE LIFEBOAT AND CHEQUERS (THORNHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
9.Financial commitments and guarantees
At 31 March 2024, all assets of the company were held as security formally charged to the companies bank, in relation to the Fenmark Holdings Ltd bank debt.
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Post balance sheet events
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On the 31 March 2025 the company's trade, assets and operations were hived up to companies within the Husk Holdings Ltd group. company’s trade, assets and operations to companies within the Husk Holdings Ltd group.
During the year ended 31 March 2024, the company was a wholly owned subsidiary of Agellus Limited, registered in England & Wales (company no. 051272766), with its registered office at Tuddenham Mill, High Street, Tuddenham, Bury St. Edmunds, IP28 6SQ.
The largest and smallest group in which the results of the Company were consolidated is that headed by Fenmarc Holdings Limited, incorporated in England & Wales. The registered office of Fenmarc Holdings Limited is 178 Gosmoor Lane, Elm, Wisbech, Cambridgeshire, England, PE14 0EG. The ultimate controlling party was M A Harrod who owns the majority shareholdings in Fenmarc Holdings Limited.
Subsequent to the year end, on 15 April 2024, the company was acquired by Chestnut Group Holdings 2 Limited, registered in England (company no. 15627932), with its registered office at Units 2-3 The Wheelwrights, Lower Green, Higham, Bury St. Edmunds, IP28 6NL
Later, on 31 March 2025, as part of a group reorganisation, ownership of the company transferred to Husk Holdings Limited, registered in England (company no. 16311422), with the same registered office at Units 2-3 The Wheelwrights, Lower Green, Higham, Bury St. Edmunds, IP28 6NL
The ultimate controlling party is Mr Phillip Turner, by virtue of his majority shareholding and control in Husk Holdings Limited.
The auditors' report on the financial statements for the period ended 31 March 2024 was unqualified.
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In their report, the auditors emphasised the following matter without qualifying their report:
We draw attention to note 2.2 in the financial statements. This explains that following the hive up of the company's operations, assets and liabilities to companies in the Husk Holdings Group, the company will no longer trade.
For this reason, the Directors have concluded the Company is no longer a going concern and therefore these financial statements have been prepared on a basis other than going concern as described in note 2.2.
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The audit report was signed on 3 September 2025 by Isabelle Shepherd (Senior Statutory Auditor) on behalf of HaysMac LLP.
Page 8
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