Company No: OC353709 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	688,558		693,392
		688,558		693,392
Current assets
Stocks		23,398		29,231
Debtors	5	20,591		31,241
Cash at bank and in hand		43,651		142,002
		87,640		202,474
Creditors: amounts falling due within one year	6	( 86,164)		( 96,490)
Net current assets		1,476		105,984
Total assets less current liabilities		690,034		799,376
Net assets attributable to members		690,034		799,376
Represented by
Loans and other debts due to members within one year
Other amounts		25,034		134,376
		25,034		134,376
Members' other interests
Equity reserve		665,000		665,000
		665,000		665,000
		690,034		799,376
Total members' interests
Loans and other debts due to members		25,034		134,376
Members' other interests		665,000		665,000
		690,034		799,376

For the financial year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

• The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, 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 LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Hartland Quay Hotel LLP (registered number: OC353709) were approved and authorised for issue by the Board of Directors on 17 December 2025. They were signed on its behalf by:

Sir Hugh George Stucley Designated member

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

Hartland Quay Hotel LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is Hartland, Bideford, Devon, EX39 6DU.

The financial statements have been prepared under the historical cost convention 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 Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

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

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Revenue from services is recognised as they are delivered.

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:

Computer software

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 and reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Leasehold improvements	5 years straight line
Vehicles	25 % reducing balance
Fixtures and fittings	25 % 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.

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. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the LLP 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 LLP 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 LLP 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the LLP transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the LLP, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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.

Financial liabilities are derecognised when the LLP's contractual obligations expire or are discharged or cancelled.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members’ participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member’s participation rights including amounts subscribed or otherwise contributed by members, for example members’ capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

In accordance with the LLP Agreement, profits and losses are divided between the members in agreed proportions, and the LLP does not have an unconditional right to refuse payment. The amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the Profit and Loss Account in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the Balance Sheet.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refund payment.

All amounts due to members that are classified as liabilities are presented in the Balance Sheet within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet within 'Members' other interests'.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the LLP during the year	35		35

3. Intangible assets

	Computer software		Total
	£		£
Cost
At 01 April 2024	1,115		1,115
At 31 March 2025	1,115		1,115
Accumulated amortisation
At 01 April 2024	1,115		1,115
At 31 March 2025	1,115		1,115
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Land and buildings		Leasehold improve- ments		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 April 2024	665,000		30,977		14,243		95,726		805,946
Additions	0		0		0		4,020		4,020
Disposals	0		0		0		( 5,374)		( 5,374)
At 31 March 2025	665,000		30,977		14,243		94,372		804,592
Accumulated depreciation
At 01 April 2024	0		30,326		12,343		69,885		112,554
Charge for the financial year	0		186		475		7,240		7,901
Disposals	0		0		0		( 4,421)		( 4,421)
At 31 March 2025	0		30,512		12,818		72,704		116,034
Net book value
At 31 March 2025	665,000		465		1,425		21,668		688,558
At 31 March 2024	665,000		651		1,900		25,841		693,392

5. Debtors

	2025		2024
	£		£
Trade debtors	970		4,458
Other debtors	19,621		26,783
	20,591		31,241

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	58,453		38,761
Other taxation and social security	0		24,894
Other creditors	27,711		32,835
	86,164		96,490