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COMPANY REGISTRATION NUMBER: 04397063

Caradog Hotels Limited

Filleted Unaudited Financial Statements

30 June 2025

Caradog Hotels Limited

Financial Statements

Year ended 30 June 2025

CONTENTS | PAGE

Officers and professional advisers | 1

Statement of financial position | 2

Notes to the financial statements | 4

Caradog Hotels Limited

Officers and Professional Advisers

The board of directors | Mr A Griffiths
| Mr W Griffiths

Registered office | 15 Cross Street
| Abergavenny
| Gwent
| NP7 5EN

Accountants | James & Uzzell Ltd
| Chartered Certified Accountants
| Axis 15, Axis Court
| Mallard Way
| Riverside Business Park
| Swansea
| SA7 0AJ

Caradog Hotels Limited

Statement of Financial Position

30 June 2025

| 2025 | 2024
Note | £ | £

FIXED ASSETS

Tangible assets | 5 | 3,422,780 | 3,481,156

CURRENT ASSETS

Stocks | 6 | 55,738 | 57,354
Debtors | 7 | 1,636,570 | 1,342,364
Cash at bank and in hand | 95,061 | 224,116
| ------------ | ------------
| 1,787,369 | 1,623,834

CREDITORS: amounts falling due within one year | 8 | 2,238,902 | 2,186,402
| ------------ | ------------
NET CURRENT LIABILITIES | 451,533 | 562,568
| ------------ | ------------
TOTAL ASSETS LESS CURRENT LIABILITIES | 2,971,247 | 2,918,588

CREDITORS: amounts falling due after more than one year | 9 | 141,852 | 188,791

PROVISIONS

Taxation including deferred tax | 60,260 | 47,586
| ------------ | ------------
NET ASSETS | 2,769,135 | 2,682,211
| ------------ | ------------

CAPITAL AND RESERVES

Called up share capital | 10 | 310,009 | 310,009
Profit and loss account | 2,459,126 | 2,372,202
| ------------ | ------------
SHAREHOLDERS FUNDS | 2,769,135 | 2,682,211
| ------------ | ------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 June 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 year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Caradog Hotels Limited

Statement of Financial Position (continued)

30 June 2025
These financial statements were approved by the board of directors and authorised for issue on 9 January 2026 , and are signed on behalf of the board by:
Mr W Griffiths
Mr W Griffiths
Director
Company registration number: 04397063

Caradog Hotels Limited

Notes to the Financial Statements

Year ended 30 June 2025
1. GENERAL INFORMATION
Caradog Hotels Limited is a private company limited by shares incorporated in England & Wales, United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements. The nature of the company's operations and principal activities are that of a hotel and restaurant services.
2. STATEMENT OF COMPLIANCE
The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102)', Section 1A for Small Entities and the Companies Act 2006.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. The reporting period of these financial statements and its comparative period is 12 months. These financial statements only include the results of the individual entity made up to 30 June 2025. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Going concern
The directors have considered the future trading position of the company and are confident that the going concern principle can be applied to the financial statements.
Investment properties
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.
The methods and significant assumptions used to ascertain the fair value of £3,163,685 and fair value movement of £nil included in the profit / loss for the year / period are as follows:
The valuation was undertaken by the director, Mr A Griffiths. Although Mr Griffiths does not have a qualification for valuations, he has extensive knowledge of the area at which the properties are located and has been within the property business for many years. He holds a large property portfolio and is therefore sufficient to review the value of the property included in the financial statements.
Debtors and creditors receivable
Debtors and creditors with no stated interest rate and receivable or payable within one year recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Critical accounting judgements and estimation uncertainty
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. i) Useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical conditions of the assets. ii) Impairment of debtors The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. iii) Stock provision The company sells food and beverage. As a result it is necessary to consider the recoverability of the cost of stock and the associated provisioning required. When calculating the stock provision, management considers the nature and condition of the stock, as well as applying assumptions around anticipated saleability. iv)Provisions Estimates are used in determining the value of provisions when recognised. This will be based on historical information, known expectations and reasonable outcomes v) Going Concern The assessment of going concern may include the use of critical judgements in respect of impact of various external factors such as political, economic and social issues. Material uncertainties are considered in this regard vi) Revaluation of tangible assets Revaluations are based on the most recent market evidence available at the reporting date. Adjustments arising from updated valuations reflect changes in accounting estimates and are recognised prospectively in the period of change and future periods.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. i) Sale of goods Turnover is recognised on the hotels primary operations when rooms are occupied and when food and beverages are sold. ii)Interest receivable Interest income is recognised using the effective interest rate method. iii)Other revenue sources When a voucher is purchased from the company, the figures are held in the balance sheet until the voucher is used. Revenue is recognised when the voucher has been redeemed. When a deposit is placed in relation to a function, the deposits held are kept in the balance sheet until the date of the function. Revenue is recognised on the date of the function. iv)Rental income Income from rentals is recognised in accordance with the terms of the relevant lease.
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
Tangible assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Freehold property & Assets in course of construction | - | 2% Straight Line & 0% until brought into use
| Plant and machinery | - | 15% straight line
| Fixtures and fittings | - | 10% straight line
| Motor vehicles | - | 20% straight line

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
Leases
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors. Where goods are sold using finance leases, the entity recognises turnover from the sale of goods and the rights to receive future lease payments as a debtor. Minimum lease payments are apportioned between finance income and the reduction of the lease debtor with finance income allocated so as to produce a constant periodic rate of interest on the net investment in the finance lease. Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).
5. TANGIBLE ASSETS

| Land and buildings | Plant and machinery | Fixtures and fittings | Motor vehicles | Total
| £ | £ | £ | £ | £
Cost |  |  |  |  |
At 1 July 2024 | 4,094,519 | 836,775 | 1,297,617 | 157,523 | 6,386,434
Additions | – | 31,905 | 6,808 | 38,000 | 76,713
| ------------ | --------- | ------------ | --------- | ------------
At 30 June 2025 | 4,094,519 | 868,680 | 1,304,425 | 195,523 | 6,463,147
| ------------ | --------- | ------------ | --------- | ------------
Depreciation |  |  |  |  |
At 1 July 2024 | 868,999 | 756,710 | 1,129,730 | 149,839 | 2,905,278
Charge for the year | 61,836 | 25,456 | 39,184 | 8,613 | 135,089
| ------------ | --------- | ------------ | --------- | ------------
At 30 June 2025 | 930,835 | 782,166 | 1,168,914 | 158,452 | 3,040,367
| ------------ | --------- | ------------ | --------- | ------------
Carrying amount |  |  |  |  |
At 30 June 2025 | 3,163,684 | 86,514 | 135,511 | 37,071 | 3,422,780
| ------------ | --------- | ------------ | --------- | ------------
At 30 June 2024 | 3,225,520 | 80,065 | 167,887 | 7,684 | 3,481,156
| ------------ | --------- | ------------ | --------- | ------------

Net book value of land & buildings comprised:

|  | 2025
|  | £
| Freehold investment properties | 755,057
| Freehold land & buildings | 2,026,743
| Assets in the course of construction | 381,884
|  | ------------
|  | 3,163,684
|  | ------------

Cost of valuation of land and buildings comprises:

|  | 2025
|  | £
| Cost | 4,955,168
| Valuation | (860,649)
|  | ------------
|  | 4,094,519
|  | ------------

The comparable amounts determined according to the historical cost convention are as follows:

|  | 2025
|  | £
| Cost | 4,955,168
| Valuation | (860,649)
| Accumulated Depreciation | (930,834)
|  | ------------
| Net Book Value at 30.06.25 | 3,163,685
|  | ------------

|  | 2024
|  | £
| Net Book Value at 30.06.24 | 3,225,521
|  | ------------

Freehold properties have been valued using the fair value model under FRS102. The valuation during the year was undertaken by the director, Mr Griffiths, although he is not professionally qualified, he has extensive knowledge of properties in the relevant areas and has built up a property portfolio over many years. The methods and significant assumptions used to ascertain the fair value of these assets are as follows: There has not been significant movement in the property values, within these locations, since the latest professional valuations. Expenditure has been incurred to maintain the properties at their current standard. The properties are still in use and no physical damage is evident.
6. STOCKS

| 2025 | 2024
| £ | £
Goods for resale | 55,738 | 57,354
| -------- | --------

7. DEBTORS

| 2025 | 2024
| £ | £
Trade debtors | 63,666 | 54,408
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 296,542 | 280,513
Other debtors | 1,276,362 | 1,007,443
| ------------ | ------------
| 1,636,570 | 1,342,364
| ------------ | ------------

8. CREDITORS: amounts falling due within one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 55,083 | 58,871
Trade creditors | 685,685 | 695,257
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 550,664 | 547,335
Corporation tax | 1,494 | –
Social security and other taxes | 71,229 | 16,762
Other creditors | 874,747 | 868,177
| ------------ | ------------
| 2,238,902 | 2,186,402
| ------------ | ------------

The total amount of secured liabilities for creditors falling due within one year is £30,890 (2024: £17,914). Bank loans and overdrafts are secured by a legal charge over the property to which it relates. Hire purchase contracts are secured over the asset to which they relate
9. CREDITORS: amounts falling due after more than one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 132,594 | 188,791
Other creditors | 9,258 | –
| --------- | ---------
| 141,852 | 188,791
| --------- | ---------

The total amount of secured liabilities for creditors falling due after more than one year is £132,594 (2024: £147,125). Bank loans and overdrafts are secured by a legal charge over the property to which it relates. Hire purchase contracts are secured over the asset to which they relate The amount due on bank loans and overdrafts which fall after 5 years is £78,930 (2024: £93,461).
10. CALLED UP SHARE CAPITAL
Issued, called up and fully paid

| 2025 | 2024
| No. | £ | No. | £
Ordinary 'A' shares of £ 1 each | 6 | 6 | 6 | 6
Ordinary 'B' shares of £ 1 each | 1 | 1 | 1 | 1
Ordinary 'C' shares of £ 1 each | 310,000 | 310,000 | 310,000 | 310,000
Ordinary 'D' shares of £ 1 each | 1 | 1 | 1 | 1
Ordinary 'E' shares of £1 each | 1 | 1 | 1 | 1
| --------- | --------- | --------- | ---------
| 310,009 | 310,009 | 310,009 | 310,009
| --------- | --------- | --------- | ---------

11. FINANCIAL COMMITMENTS
Total financial commitments which are not included in the balance sheet amount to £0 (2024: £330).
12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
At the year end there was a balance owing to the company, from the director Mr W Griffiths of £135,472 (2017: (£93,329)). No interest has been charged on this balance.
13. RELATED PARTY TRANSACTIONS
During the year the company entered into the following transactions: Other related parties

|  | 2025 | 2024
|  | £ | £
| Balance due from other related parties | 772,117 | 653,669
| Trade Debtor balances with other related parties | 1,069 | 612
| Trade Creditor balances with other related parties | 475,015 | 468,927

No interest has been charged on these balances. Exemption under Section 33.1A has been claimed to not disclose transactions for 100% group companies.
14. PARENT COMPANY
The ultimate parent company is Treffgarne Properties Limited, a company incorporated in England & Wales. Its registered office is 21 Nevill Street, Abergavenny, Monmouthshire, NP7 5AA.
The immediate parent company is Mainunit Limited, a company incorporated in England & Wales. Its registered office is the same as the ultimate parent company.