These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Skerritts of Nottingham Limited is a private company limited by shares incorporated in England and Wales. The registered office is Environment House, 1 St. Marks Street, Nottingham, NG3 1DE.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention modified to include the revaluation of leasehold properties. The principal accounting policies adopted are set out below.

The financial statements have been prepared on a going concern basis not withstanding the loss before tax of £183,895 (2023: £412,583) and net liabilities of £3,590,097 (2023: £3,399,807).true

The company uses a current bank account to meet its day to day working capital. There is no agreed facility on this account as additional funding is provided, as and when required, by Ancefin Limited, a related company. The company is reliant upon the continued provision of financial support from related companies to support cash flows.

The directors of these companies confirmed continued support from the group as and when required and that the companies have no plans at the present time to demand repayment of these loans for a period of 12 months from the date of signing the financial statements for the year ended 31 December 2024.

Accordingly the financial statements have been prepared on a going concern basis, however, there is a material uncertainty as to whether, without this support, all liabilities will be met as they fall due for at least 12 months from the signing of these accounts.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from the sale of goods in the bar and restaurant is recognised when the goods are sold to the customer. Revenue from contracts for the provision of services is recognised on the date the service is provided to the customer. For weddings and other events this is recognised on the date of the event. Revenue from accommodation is recognised on the date of the overnight stay.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including trade creditors and loans from fellow group companies are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

The tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

The average monthly number of persons (including directors) employed by the company during the year was:

A full valuation was carried out in 2001, which valued the property on an open market basis at £2.0m. In 2005, the directors obtained an interim valuation from an experienced valuer, which provided an indicative guide to the value of the hotel and was on the basis of open market value of the leasehold interest with vacant possession. The results showed the value of the property to be £3.5m which was accounted for in the financial statements in that year. The property is since being carried at implied costs, being depreciated over the life of the lease.

The Directors have reviewed the carrying value of the property at the year end and they are satisfied that the carrying value is not materially different from the net current market value.

If land and buildings had not been revalued and were measured using the cost model, the carrying amounts would have been approximately £526,936 (2023 - £596,502), being cost £2,274,229 (2023 - £2,298,311) and depreciation £1,747,293 (2023 £1,701,809).

Amounts owed to group undertakings are secured over certain assets of the company.

Ancefin Limited, a related company, has provided a secured loan facility. The loan is secured by a legal mortgage over the leasehold property and a debenture to create a fixed and floating charge over the assets of the company.

Interest is charged on the loan at 2.5% (2023: 2.5%) above the Bank of England base rate. Interest charged in the year amounted to £424 (2022: £326,842).

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

The operating lease commitments relate to the rental of the hotel, annexes and associated ground rent from Harrow Council and is payable over 30 years at an annual rate of £98,000.

Included within amounts owed to group undertakings is £100,686 (2023: £120,001) due to Purico Limited, £340,092 (2023: £340,092) due to Ancefin Limited, £100,686 (2023: £103,831) due to Purico Group Limited, £14,886 (2023: £14,886) due to Cricklade Property Limited and £Nil (2023: £4,800) to Ancefin Property Management Limited.

Included in other creditors due over 1 year is £4,852,885 (2023: £4,852,885) due to Ancefin Limited, a related party by virtue of common directors.

The following amounts were outstanding at the reporting end date:

Included within other debtors is £32,824 (2023: £32,824) due from Devon Valley Limited, £Nil (2023: 33,953) due from Allyson Limited, £Nil (2023: £Nil) due from Purico Speciality Paper Limited, £1,301 (2023: £73,209) due from Donlow Fininvest Limited, £Nil (2023: £19,319) due from Purico (USA) Limited and £Nil (2023: £2,360) due from Cricklade House Hotel Limited, all of which are related parties by virtue of common directors.

Included within amounts owed by group undertakings is £4,211 (2023: £4,211) due from Melham Investments Limited and £100,686 (2023: £3,145) due from Purico Group Limited.

The company has taken advantage of the exemption available under section 1AC.35 of FRS 102, from disclosing transactions entered into between two or more wholly-owned members of the group.

At the year end the company is controlled by Melham Investments Limited, a company incorporated in the United Kingdom.

The parent undertaking of the largest and smallest group for which consolidated accounts are prepared is Purico Group Limited. Consolidated accounts are available from Companies House, Cardiff, CF14 3UZ.

Purico Group Limited is controlled by Clary Limited, a company incorporated in the Isle of Man and, in the opinion of the directors, this is the company's ultimate controlling party.