REGISTERED NUMBER: 05116299 (England and Wales)

PLAS HYFRYD COUNTRY HOTEL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

8

DIRECTORS:

D H Jones

Mrs J E Jones

REGISTERED OFFICE:

Plas Hyfryd Country Hotel

Moorfield Road

Narberth

Pembrokeshire

SA67 7AB

REGISTERED NUMBER:

05116299 (England and Wales)

ACCOUNTANTS:

Bevan Buckland LLP

Ground Floor Cardigan House

Castle Court

Swansea Enterprise Park

Swansea

SA7 9LA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

876,789

826,585

876,789

826,585

CURRENT ASSETS

Stocks

5,846

5,926

Debtors

6

263,992

211,748

Cash at bank and in hand

719

10,347

270,557

228,021

CREDITORS

Amounts falling due within one year

7

985,439

746,480

NET CURRENT LIABILITIES

(714,882

)

(518,459

)

TOTAL ASSETS LESS CURRENT LIABILITIES

161,907

308,126

PROVISIONS FOR LIABILITIES

56,939

39,633

NET ASSETS

104,968

268,493

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

104,966

268,491

104,968

268,493

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 December 2025 and were signed on its behalf by:

D H Jones - Director

1.	STATUTORY INFORMATION

Plas Hyfryd Country Hotel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the fair value of consideration received or receivable for goods and services provided in the ordinary course of business, excluding discounts, rebates, value added tax, and other sales taxes. The company generates income from the following sources:

1. Room Revenue: Income from room bookings is recognised on the date the guest occupies the room. Deposits received for future bookings are initially recorded as deferred income and recognised as revenue when the service is provided.

2. Food and Beverage Sales: Revenue from the sale of food and beverages is recognised at the point of sale when the goods are delivered to the customer.

3. Event and Conference Services: Income from events and conferences is recognised when the event takes place. Deposits received in advance are recorded as deferred income and recognised as revenue when the event occurs.

Goodwill

Goodwill, beng the amount paid in connection with the acquistition of a business, was fully amortised evenely over its estimated useful life.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

15% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets are impaired where there is objective evidence that, as a result of one or more events that

occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was

recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of

ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or

cancelled.

Cash at bank and cash in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of

three months or less from the date of acquisition or opening of the deposit or similar account.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured

initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the

effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2024 - 28 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

32,500

AMORTISATION

At 1 April 2024

and 31 March 2025

32,500

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

904,658

782,764

1,687,422

Additions

-

109,236

109,236

At 31 March 2025

904,658

892,000

1,796,658

DEPRECIATION

At 1 April 2024

241,755

619,082

860,837

Charge for year

18,094

40,938

59,032

At 31 March 2025

259,849

660,020

919,869

NET BOOK VALUE

At 31 March 2025

644,809

231,980

876,789

At 31 March 2024

662,903

163,682

826,585

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

77,656

10,297

Amounts owed by group undertakings

186,336

201,451

263,992

211,748

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

13,271

-

Trade creditors

18,888

21,753

Amounts owed to group undertakings

376,000

246,000

Amounts owed to participating interests

28,765

55,000

Taxation and social security

22,251

33,881

Other creditors

526,264

389,846

985,439

746,480

At the year end there is £512,334 (2024: £377,350) owed to the directors. This is interest free and repayable on demand.

8.	RELATED PARTY DISCLOSURES

At the year end, there is £186,336 (2024: £201,452) owed to AnchorWell) owed by Anchor Well Limited to Plas Hyfryd Hotel Limited, of which its directors are also directors in this company.

At the year end, there is £18,765 (2024: £20,000) owed to Cilrhiw Country House Partnership by Plas Hyfryd Country Hotel Limited, of which its directors are also partners in this partnership.

At the year end, there is £376,000 (2024: £246,000) owed to Plas Hyfryd Holdings Limited by Plas Hyfryd Country Hotel Limited, of which its directors are also directors in this company.

At the year end, there was no balance outstanding (2024: £25,000) owed to Watersedge Family Limited by Plas Hyfryd Country Hotel Limited, a company in which the directors are also directors. During the year ended 31 March 2025, the amount of £25,000 owed at 31 March 2024 was waived.

At the year end, there is £10,000 (2024: £10,000) owed to Kiln Park Farm Limited by Plas Hyfryd Country Hotel Limited, of which its directors are also directors in this company.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Plas Hyfryd Country Hotel Limited for the year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Plas Hyfryd Country Hotel Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Plas Hyfryd Country Hotel Limited and state those matters that we have agreed to state to the Board of Directors of Plas Hyfryd Country Hotel Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Plas Hyfryd Country Hotel Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Plas Hyfryd Country Hotel Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Plas Hyfryd Country Hotel Limited. You consider that Plas Hyfryd Country Hotel Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Plas Hyfryd Country Hotel Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Bevan Buckland LLP

Ground Floor Cardigan House

Castle Court

Swansea Enterprise Park

Swansea

SA7 9LA

29 December 2025