Company No: 00710856 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	4	423,462		460,813
		423,462		460,813
Current assets
Stocks	5	4,030		4,642
Debtors	6	9,684		7,974
Investments		105		105
Cash at bank and in hand		228,226		274,343
		242,045		287,064
Creditors: amounts falling due within one year	7	( 252,716)		( 276,958)
Net current (liabilities)/assets		(10,671)		10,106
Total assets less current liabilities		412,791		470,919
Creditors: amounts falling due after more than one year	8	( 162,726)		( 194,302)
Provision for liabilities		( 34,852)		( 38,405)
Net assets		215,213		238,212
Capital and reserves
Called-up share capital		15,000		15,000
Revaluation reserve		17,531		28,710
Profit and loss account		182,682		194,502
Total shareholders' funds		215,213		238,212

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

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Crantock Bay Hotel Limited (registered number: 00710856) were approved and authorised for issue by the Board of Directors on 16 September 2025. They were signed on its behalf by:

Mrs N Eyles Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Crantock Bay Hotel Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Crantock Bay Hotel, Crantock Newquay, Cornwall, TR8 5SE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of leisure and hospitality services. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
It is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Plant and machinery	10 % reducing balance
Vehicles	4 years straight line
Fixtures and fittings	10 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete to sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	22		22

3. Intangible assets

	Website costs		Total
	£		£
Cost
At 01 January 2024	2,100		2,100
At 31 December 2024	2,100		2,100
Accumulated amortisation
At 01 January 2024	2,100		2,100
At 31 December 2024	2,100		2,100
Net book value
At 31 December 2024	0		0
At 31 December 2023	0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 January 2024	417,680		9,239		1,000		232,551		660,470
Additions	12,321		0		0		8,180		20,501
Disposals	( 37,260)		0		0		0		( 37,260)
At 31 December 2024	392,741		9,239		1,000		240,731		643,711
Accumulated depreciation
At 01 January 2024	78,190		1,755		750		118,962		199,657
Charge for the financial year	7,538		749		250		12,055		20,592
At 31 December 2024	85,728		2,504		1,000		131,017		220,249
Net book value
At 31 December 2024	307,013		6,735		0		109,714		423,462
At 31 December 2023	339,490		7,484		250		113,589		460,813

5. Stocks

	2024		2023
	£		£
Stocks	4,030		4,642

6. Debtors

	2024		2023
	£		£
Trade debtors	445		200
Other debtors	9,239		7,774
	9,684		7,974

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	31,918		33,860
Trade creditors	28,659		23,332
Other taxation and social security	25,546		26,975
Other creditors	166,593		192,791
	252,716		276,958

8. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	160,476		192,427
Other creditors	2,250		1,875
	162,726		194,302

Creditors include bank loans which are secured of £173,611 (2023 - £197,954). Security for this debt is held against all property owned by Crantock Bay Hotel Limited.