Company No: 01452906 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	1,530,066		1,528,910
		1,530,066		1,528,910
Current assets
Debtors	4	151,120		69,275
Cash at bank and in hand		37,863		110,033
		188,983		179,308
Creditors: amounts falling due within one year	5	( 215,387)		( 217,327)
Net current liabilities		(26,404)		(38,019)
Total assets less current liabilities		1,503,662		1,490,891
Provision for liabilities		4,698		7,124
Net assets		1,508,360		1,498,015
Capital and reserves
Called-up share capital	6	150		150
Revaluation reserve		1,229,393		1,229,393
Profit and loss account		278,817		268,472
Total shareholder's funds		1,508,360		1,498,015

For the financial year ending 30 November 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 member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges 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 Lanteglos Hotel and Villas Limited (registered number: 01452906) were approved and authorised for issue by the Director on 30 November 2025. They were signed on its behalf by:

M E Ellis 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

Lanteglos Hotel and Villas 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 Lowin House, Tregolls Road, Truro, TR1 2NA, 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 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.

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.

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	not depreciated
Plant and machinery	10 years straight line
Fixtures and fittings	15 % reducing balance

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	2		4

3. Tangible assets

	Land and buildings		Plant and machinery		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 December 2023	1,521,055		54,210		130,741		1,706,006
Additions	0		0		2,199		2,199
At 30 November 2024	1,521,055		54,210		132,940		1,708,205
Accumulated depreciation
At 01 December 2023	0		52,838		124,258		177,096
Charge for the financial year	0		423		620		1,043
At 30 November 2024	0		53,261		124,878		178,139
Net book value
At 30 November 2024	1,521,055		949		8,062		1,530,066
At 30 November 2023	1,521,055		1,372		6,483		1,528,910

Revaluation of tangible assets

Freehold land and buildings were professionally valued by Messrs Stratton & Holborow, Truro, an independent valuer. The basis of this valuation was market value. This class of assets has a current value of £1,521,055 (2023 - £1,521,055) and carrying amount at historical cost of £291,663 (2023 - £291,663). The depreciation on this historical costs is £0 (2023 - £0).

4. Debtors

	2024		2023
	£		£
Trade debtors	132,635		61,661
Other debtors	18,485		7,614
	151,120		69,275

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	1,155		12,425
Amounts owed to director	0		171,968
Accruals	11,377		5,323
Other taxation and social security	24,816		27,310
Other creditors	178,039		301
	215,387		217,327

6. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary A shares of £ 1.00 each	100		100
50 Ordinary B shares of £ 1.00 each	50		50
	150		150

7. Ultimate controlling party

Parent Company:

UKPI (Lanteglos) Ltd

Ivy Court Stonehall Common Kempsey Worcester United Kingdom WR5 3QQ