Jesmond Dene House Ltd

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 9

Jesmond Dene House Ltd

Balance Sheet

31 January 2025

	Note	2025 £	(As restated) 2024 £
Fixed assets
Tangible assets	5	354,325	417,590
Current assets
Stocks	6	31,510	31,727
Debtors	7	90,477	23,559
Cash at bank and in hand		131,511	119,130
		253,498	174,416
Creditors: Amounts falling due within one year	8	(3,232,423)	(3,346,313)
Net current liabilities		(2,978,925)	(3,171,897)
Total assets less current liabilities		(2,624,600)	(2,754,307)
Provisions for liabilities		395,738	525,005
Net liabilities		(2,228,862)	(2,229,302)
Capital and reserves
Called up share capital	9	1	1
Profit and loss account		(2,228,863)	(2,229,303)
Shareholders' deficit		(2,228,862)	(2,229,302)

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 October 2025 and signed on its behalf by:
 

......................................... J J Nel Director

Company Registration Number: 05175461

Jesmond Dene House Ltd

Notes to the Financial Statements

Year Ended 31 January 2025

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Jesmond Dene House
Jesmond Dene Road
Newcastle Upon Tyne
NE2 2EY
United Kingdom

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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, unless otherwise stated.

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 that as disclosed in the accounting policies certain items are shown at fair value.

Disclosure of long or short period

The comparative period includes results for the 13 month period from 1 January 2023 to 31 January 2024 in the period of acquisition by Kronen Hotels Ltd.

Going concern

At the balance sheet date the company had net current liabilities of £2,978,925 (2024 - £3,171,897) and net liabilities of £2,228,862 (2024 - £2,229,302). Included in current liabilities is £2,915,474 (2024 - £2,770,297) due to group undertakings, under the common control of Kronen Hotels Ltd. Kronen Hotels Ltd have confirmed that they do not require repayment of this balance within the next 12 months from the balance sheet date.

The company is party to a composite guarantee provided to NatWest Bank with the total outstanding balance of £14,364,500 at the year end.

The group's ability to continue as a going concern is dependant upon both the ongoing support of its bankers and its shareholders. However, in the event that this is not forthcoming than a material uncertainty would exist with regards to the appropriateness of the going conern assertion.

After due consideration the Directors continue to apply the going concern basis to the preparation of the financial statements.

Jesmond Dene House Ltd

Notes to the Financial Statements

Year Ended 31 January 2025

Changes in accounting policy

The following have been applied for the first time from 1 February 2024 and have had an effect on the financial statements:

Prior Period Adjustment

The company has considered the presentation of financial statements across the group and has made the decision to re-allocate certain costs and balances. The prior period has been restated so that the comparative figures are consistent with the treatment in the current year, however there has been no net impact on the prior year profit or net assets position.

Wages costs, including staff pension and employers NI of £591,763 have been re-allocated from administrative expenses to cost of sales.

Equipment hire costs of £6,058 and cleaning costs of £161,827 have been re-allocated from cost of sales to administrative expenses.

The net effect is an increase in cost of sales by £423,878 and a reduction in administrative expenses by £423,878.

There has been a presentational change within creditors whereby Payments on account have increased by £57,961 and Other creditors have decreased by £57,961.

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, returns, rebates and discounts and after eliminating sales within the company.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Jesmond Dene House Ltd

Notes to the Financial Statements

Year Ended 31 January 2025

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet 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 and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and Machinery	15% reducing balance
Fixtures and Fittings	15% reducing balance
Office Equipment	33% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	20% straight line
Website costs	20% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Jesmond Dene House Ltd

Notes to the Financial Statements

Year Ended 31 January 2025

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Intercompany loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for intercompany loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.



 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 86 (2024 - 102).

Jesmond Dene House Ltd

Notes to the Financial Statements

Year Ended 31 January 2025

4	Intangible assets

	Goodwill  £	Trademarks, patents and licenses  £	Total £
Cost or valuation
At 1 February 2024	16,800	62,786	79,586
At 31 January 2025	16,800	62,786	79,586
Amortisation
At 1 February 2024	16,800	62,786	79,586
At 31 January 2025	16,800	62,786	79,586
Carrying amount
At 31 January 2025	-	-	-