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Heaves Hotel Limited

Registered Number
00434439
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2025

Heaves Hotel Limited
Company Information
for the year from 1 March 2024 to 28 February 2025

Directors | Mrs C E Whitelock
| Mr L M Whitelock
| Mr P M Whitelock

Company Secretary | WHITELOCK, Catherine Elizabeth

Registered Address | Heaves Hotel Heaves
| Kendal
| Cumbria
| LA8 8EF

Registered Number | 00434439 (England and Wales)

Heaves Hotel Limited
Statement of Financial Position
28 February 2025

| Notes | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Tangible assets | 3 |  |  | 557,455 |  |  |  | 573,816
|  |  |  | 557,455 |  |  |  | 573,816
Current assets |  |  |  |  |  |  |  |
Debtors | 5 | 3,989 |  |  |  | 4,649 |  |
Cash at bank and on hand |  | 3,217 |  |  |  | 1,298 |  |
|  | 7,206 |  |  |  | 5,947 |  |
Creditors amounts falling due within one year | 6 | (318,471) |  |  |  | (293,975) |  |
Net current assets (liabilities) |  |  |  | (311,265) |  |  |  | (288,028)
Total assets less current liabilities |  |  |  | 246,190 |  |  |  | 285,788
Provisions for liabilities | 7 |  |  | (93,264) |  |  |  | (95,880)
Net assets |  |  |  | 152,926 |  |  |  | 189,908
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 7,700 |  |  |  | 7,700
Share premium |  |  |  | 3,965 |  |  |  | 3,965
Revaluation reserve |  |  |  | 279,793 |  |  |  | 287,640
Profit and loss account |  |  |  | (138,532) |  |  |  | (109,397)
Shareholders' funds |  |  |  | 152,926 |  |  |  | 189,908

- The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
- The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
- These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
- The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 14 November 2025, and are signed on its behalf by:
Mr L M Whitelock Director Registered Company No. 00434439

Heaves Hotel Limited
Notes to the Financial Statements
for the year ended 28 February 2025

1. | Accounting policies
--- | ---

| Statutory information
--- | ---
| The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| Basis of preparation
--- | ---
| The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

| Functional and presentation currency
--- | ---
| The financial statements are presented in sterling and this is the functional currency of the company.

| Turnover policy
--- | ---
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

| Current taxation
--- | ---
| Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

| Deferred tax
--- | ---
| Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

| Tangible fixed assets and depreciation
--- | ---
| Tangible fixed assets are stated at cost or valuation less depreciation. Individual freehold and leasehold properties are included at the valuation at its date of transition to FRS102. Future valuations will not be undertaken as permitted by FRS102. Revaluation gains and losses are recognised in the Profit and Loss Account unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows: Crockery crisis equipment which is included within fixtures and fittings is depreciated at the rate of 25% on a reducing balance basis.

|  | Reducing balance (%) |  | Straight line (years)
| Land and buildings | - |  | 50
| Plant and machinery | 25 |  | -
| Fixtures and fittings | 10 |  | -
| Vehicles | 25 |  | -
| Office Equipment | - |  | 3

| Trade and other debtors
--- | ---
| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

| Trade and other creditors
--- | ---
| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

| Financial instruments
--- | ---
| The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2. | Average number of employees
--- | ---

|  | 2025 |  | 2024
| Average number of employees during the year | 3 |  | 3

3. | Tangible fixed assets
--- | ---

|  | Land & buildings |  | Plant & machinery |  | Vehicles |  | Fixtures & fittings |  | Office Equipment |  | Total
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £ |  | £ |  | £
| Cost or valuation
| At 01 March 24 | 762,458 |  | 2,000 |  | 2,400 |  | 180,513 |  | 2,781 |  | 950,152
| At 28 February 25 | 762,458 |  | 2,000 |  | 2,400 |  | 180,513 |  | 2,781 |  | 950,152
| Depreciation and impairment
| At 01 March 24 | 203,357 |  | 781 |  | 2,080 |  | 167,337 |  | 2,781 |  | 376,336
| Charge for year | 14,649 |  | 305 |  | 80 |  | 1,327 |  | - |  | 16,361
| At 28 February 25 | 218,006 |  | 1,086 |  | 2,160 |  | 168,664 |  | 2,781 |  | 392,697
| Net book value
| At 28 February 25 | 544,452 |  | 914 |  | 240 |  | 11,849 |  | - |  | 557,455
| At 29 February 24 | 559,101 |  | 1,219 |  | 320 |  | 13,176 |  | - |  | 573,816

4. | Revaluation of property, plant and equipment
--- | ---
| The freehold property was revalued at 28 February 2010. This valuation has been retained following the transition to FRS102. Had the freehold property been measured at historical cost, the cost would be £248,868 (2024 - £248,868) and the carrying value would be £175,527 (2024 - £180,505).

5. | Debtors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade debtors / trade receivables | 2,152 |  | 2,231
| Other debtors | 262 |  | 826
| Prepayments and accrued income | 1,575 |  | 1,592
| Total | 3,989 |  | 4,649

6. | Creditors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade creditors / trade payables | 1,398 |  | 1,307
| Taxation and social security | 261 |  | 404
| Other creditors | 314,663 |  | 290,638
| Accrued liabilities and deferred income | 2,149 |  | 1,626
| Total | 318,471 |  | 293,975

7. | Provisions for liabilities
--- | ---
| Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate of the settlement can be made. The provision for deferred tax is in respect of the fair value on revalued freehold property.

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Net deferred tax liability (asset) | 93,264 |  | 95,880
| Total | 93,264 |  | 95,880

8. | Related party transactions
--- | ---
| During the year two directors had a loan account with the company. At the balance sheet date, the company owed the directors £270,275 (2024 - £260,116). This loan is unsecured, interest free and repayable upon demand. During the year a third director had a loan account with the company. At the balance sheet date, the company owed the directors £44,388 (2024 - £30,523). This loan is unsecured, interest free and repayable upon demand.