Company No: 01501602 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	3,683		4,583
Tangible assets	4	932,468		961,524
Investment property	5	600,000		520,000
		1,536,151		1,486,107
Current assets
Stocks		17,133		16,325
Debtors	6	266,929		277,334
Cash at bank and in hand		105,920		99,124
		389,982		392,783
Creditors: amounts falling due within one year	7	( 292,191)		( 242,683)
Net current assets		97,791		150,100
Total assets less current liabilities		1,633,942		1,636,207
Provision for liabilities		( 35,252)		( 37,464)
Net assets		1,598,690		1,598,743
Capital and reserves
Called-up share capital	8	102		102
Profit and loss account	9	1,598,588		1,598,641
Total shareholders' funds		1,598,690		1,598,743

For the financial year ending 31 March 2025 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge 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 Exmoor Hospitality Inns Limited (registered number: 01501602) were approved and authorised for issue by the Board of Directors on 31 December 2025. They were signed on its behalf by:

Mr P Hendrie 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

Exmoor Hospitality Inns 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 The Exmoor White Horse Inn, Exford, Somerset, TA24 7PY, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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.

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:

Website costs

3 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 over its expected useful life, as follows:

Land and buildings	50 years straight line
Vehicles	25 % reducing balance
Fixtures and fittings	15 % 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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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.

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 Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, 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.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	29		29

3. Intangible assets

	Website costs		Total
	£		£
Cost
At 01 April 2024	6,870		6,870
Additions	2,080		2,080
At 31 March 2025	8,950		8,950
Accumulated amortisation
At 01 April 2024	2,287		2,287
Charge for the financial year	2,980		2,980
At 31 March 2025	5,267		5,267
Net book value
At 31 March 2025	3,683		3,683
At 31 March 2024	4,583		4,583

4. Tangible assets

	Land and buildings		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 April 2024	1,450,797		76,190		797,652		2,324,639
Additions	18,593		0		13,445		32,038
Disposals	0		( 24,995)		0		( 24,995)
At 31 March 2025	1,469,390		51,195		811,097		2,331,682
Accumulated depreciation
At 01 April 2024	658,312		50,659		654,144		1,363,115
Charge for the financial year	29,388		5,550		22,820		57,758
Disposals	0		( 21,659)		0		( 21,659)
At 31 March 2025	687,700		34,550		676,964		1,399,214
Net book value
At 31 March 2025	781,690		16,645		134,133		932,468
At 31 March 2024	792,485		25,531		143,508		961,524

5. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	520,000
Additions	63,431
Fair value movement	16,569
As at 31 March 2025	600,000

The Investment property was revalued by the directors on 31 March 2025. The valuation was based on open market value for existing use.

6. Debtors

	2025		2024
	£		£
Trade debtors	0		1,920
Prepayments	9,304		9,150
Other debtors	257,625		266,264
	266,929		277,334

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	75,358		52,037
Amounts owed to directors	61,081		41,020
Accruals	60,837		66,203
Corporation tax	11,134		0
Other taxation and social security	39,222		39,013
Other creditors	44,559		44,410
	292,191		242,683

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
5,943 Ordinary shares of £ 0.01 each	59		59
4,257 Ordinary A shares of £ 0.01 each	43		43
	102		102

9. Reserves

Included within profit and loss reserves are non-distributable profits of £112,973 (2024 - £96,404). These reserves represent the cumulative unrealised revaluation gains on the company's investment properties, net of provision for deferred taxation thereon.