Registration number: 06654257

Ingleside Heritage Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 10

Ingleside Heritage Limited

Company Information

Directors

Mr I Carling Ms R L Wright

Company secretary

Newfield Business Services Limited

Registered office

Tanners Solicitors Lancaster House Thomas Street Cirencester BS1 4AG

Accountants

Regulatory Accounting Ltd T/A Optimum Professional Services Vicarage Court 160 Ermin Street Swindon Wiltshire SN3 4NE

Ingleside Heritage Limited

(Registration number: 06654257)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	2,593,064	2,809,244
Current assets
Stocks	6	19,397	19,718
Debtors	7	68,675	118,119
Cash at bank and in hand		47,688	22,919
		135,760	160,756
Creditors: Amounts falling due within one year	8	(522,692)	(439,451)
Net current liabilities		(386,932)	(278,695)
Total assets less current liabilities		2,206,132	2,530,549
Creditors: Amounts falling due after more than one year	8	(4,511,100)	(4,506,450)
Net liabilities		(2,304,968)	(1,975,901)
Capital and reserves
Called up share capital		1	1
Retained earnings		(2,304,969)	(1,975,902)
Shareholders' deficit		(2,304,968)	(1,975,901)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

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

......................................... Mr I Carling Director

Ingleside Heritage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England & Wales .

The address of its registered office is:
Tanners Solicitors
Lancaster House
Thomas Street
Cirencester
BS1 4AG
England

The principal place of business is:
Ingleside House
5 Beeches Road
Cirencester
GL7 1BN

These financial statements were authorised for issue by the Board on 30 December 2025.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis. Despite the company's losses the Director and the holding company continue to support the business as well as develop the hotel and restaurant offering.

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 sales/value added tax, returns, rebates and discounts.

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.

Ingleside Heritage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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
Short Leasehold	Straight line Over the life of lease being 20 years to 2034
Fixtures and fittings	20% on cost
Computer equipment	33% on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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	Straight line over 10 years to 2020

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Ingleside Heritage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Ingleside Heritage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 47 (2023 - 39).

Ingleside Heritage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2024	9,081	9,081
At 31 December 2024	9,081	9,081
Amortisation
At 1 January 2024	9,081	9,081
At 31 December 2024	9,081	9,081
Carrying amount
At 31 December 2024	-	-

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	4,271,986	109,239	4,381,225
Additions	-	6,016	6,016
At 31 December 2024	4,271,986	115,255	4,387,241
Depreciation
At 1 January 2024	1,474,977	97,004	1,571,981
Charge for the year	213,599	8,597	222,196
At 31 December 2024	1,688,576	105,601	1,794,177
Carrying amount
At 31 December 2024	2,583,410	9,654	2,593,064
At 31 December 2023	2,797,009	12,235	2,809,244

Included within the net book value of land and buildings above is £2,583,410 (2023 - £2,797,009) in respect of short leasehold land and buildings.
 

Ingleside Heritage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Stocks

	2024 £	2023 £
Other inventories	19,397	19,718

7

Debtors

Current	2024 £	2023 £
Trade debtors	-	(55,891)
Prepayments	66,287	171,623
Other debtors	2,388	2,387
	68,675	118,119

Ingleside Heritage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	9	122,037	69,416
Trade creditors		167,651	146,323
Taxation and social security		130,309	205,166
Accruals and deferred income		14,084	5,767
Other creditors		88,611	12,779
		522,692	439,451

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	9	4,511,100	4,506,450

9	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	16,667	96,667
Other borrowings	4,494,433	4,409,783
	4,511,100	4,506,450

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	40,000	-
Other borrowings	82,037	69,416
	122,037	69,416

Ingleside Heritage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

10	Related party transactions

Transactions with directors

2024	At 1 January 2024 £	Advances to director £	Repayments by director £	At 31 December 2024 £
	4,298,187	(57,350)	139,000	4,379,837

2023	At 1 January 2023 £	Advances to director £	Repayments by director £	At 31 December 2023 £
	4,246,767	(96,000)	147,420	4,298,187

Summary of transactions with other related parties

The company have decided to take advantage of the FRS 102 1A right to not disclose related party transacions.