Registration number: 02865979

Worgret Manor Hotel Limited

Statement of Financial Position as at 31 October 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	237,174	243,075
Current assets
Cash at bank and in hand		1,237	1,748
Creditors: Amounts falling due within one year	5	(2,187,630)	(2,180,439)
Net current liabilities		(2,186,393)	(2,178,691)
Total assets less current liabilities		(1,949,219)	(1,935,616)
Creditors: Amounts falling due after more than one year	5	(1,310)	(3,102)
Net liabilities		(1,950,529)	(1,938,718)
Capital and reserves
Called up share capital		1,000	1,000
Retained earnings		(1,951,529)	(1,939,718)
Shareholders' deficit		(1,950,529)	(1,938,718)

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the director on 1 September 2025
 

.........................................

Mrs Ann Lynn

Director

Company registration number: 02865979

Worgret Manor Hotel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the operation of an hotel.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Going concern

The company had net liabilities at 31 October 2024 of £1,950,529. At this date an amount of £2,184,051 was due to the director who has confirmed that she will not seek repayment until such time as the company has sufficient working capital. She has also confirmed that further amounts will be advanced to the company, if required.

The director is considering other options for the business including a possible sale of the freehold property.

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The director has adopted the going concern basis for the preparation of these financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax and discounts.

The company recognises revenue based upon the dates that guests stay at the hotel.

Worgret Manor Hotel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold buildings	2% straight line
Furniture, fittings and equipment	10% - 25% straight line
Plant and machinery	20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3	Staff numbers

The average number of persons employed by the company during the year, was 0 (2023 - 0).

Worgret Manor Hotel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4	Tangible assets

	Freehold land and buildings £	Furniture, fittings and equipment  £	Plant and equipment £	Total £
Cost or valuation
At 1 November 2023	342,582	85,967	26,781	455,330
At 31 October 2024	342,582	85,967	26,781	455,330
Depreciation
At 1 November 2023	103,235	82,239	26,781	212,255
Charge for the year	4,669	1,232	-	5,901
At 31 October 2024	107,904	83,471	26,781	218,156
Carrying amount
At 31 October 2024	234,678	2,496	-	237,174
At 31 October 2023	239,347	3,728	-	243,075

5

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Bank loans and overdrafts	6	1,779	1,779
Other creditors		2,185,851	2,178,660
		2,187,630	2,180,439

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Loans and borrowings	6	1,310	3,102

Worgret Manor Hotel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6	Loans and borrowings

Current loans and borrowings

	2024 £	2023 £
Bank loans	1,779	1,779

Non-current loans and borrowings

	2024 £	2023 £
Bank loans	1,310	3,102

The bank loans are secured by way of a fixed charge over the company's freehold property and a floating charge over the other assets and undertakings.