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Company No: 01198424 (England and Wales)

# J K AND J IRELAND (COTTAGE HOTEL) LIMITED

### Unaudited Financial Statements
For the financial year ended 31 January 2026
Pages for filing with the registrar

J K AND J IRELAND (COTTAGE HOTEL) LIMITED

## Unaudited Financial Statements

For the financial year ended 31 January 2026

Contents

J K AND J IRELAND (COTTAGE HOTEL) LIMITED

## BALANCE SHEET

As at 31 January 2026
J K AND J IRELAND (COTTAGE HOTEL) LIMITED

## BALANCE SHEET (continued)

As at 31 January 2026

| Note | 2026 |  | 2025
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 4 | 5,497,708 |  | 5,558,385
|  | 5,497,708 |  | 5,558,385
Current assets |  |  |  |
Stocks |  | 31,155 |  | 29,687
Debtors | 5 | 126,433 |  | 207,983
Cash at bank and in hand |  | 182,647 |  | 90,538
|  | 340,235 |  | 328,208
Creditors: amounts falling due within one year | 6 | ( 438,625) |  | ( 364,479)
Net current liabilities |  | (98,390) |  | (36,271)
Total assets less current liabilities |  | 5,399,318 |  | 5,522,114
Creditors: amounts falling due after more than one year | 7 | ( 1,410,701) |  | ( 1,482,755)
Provision for liabilities |  | ( 258,664) |  | ( 253,968)
Net assets |  | 3,729,953 |  | 3,785,391
Capital and reserves |  |  |  |
Called-up share capital | 8 | 4,761 |  | 4,761
Share premium account |  | 1,736,521 |  | 1,736,521
Profit and loss account |  | 1,988,671 |  | 2,044,109
Total shareholders' funds |  | 3,729,953 |  | 3,785,391

For the financial year ending 31 January 2026 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 Profit and Loss Account has not been delivered.

The financial statements of J K and J Ireland (Cottage Hotel) Limited (registered number: 01198424) were approved and authorised for issue by the Board of Directors on 02 April 2026. They were signed on its behalf by:

Mr W A Ireland Director |

J K AND J IRELAND (COTTAGE HOTEL) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2026
J K AND J IRELAND (COTTAGE HOTEL) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2026

##### 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

J K and J Ireland (Cottage Hotel) 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 Cottage Hotel, Hope Cove, Kingsbridge, TQ7 3HJ, 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 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 value added tax.

##### Employee benefits

Defined contribution schemes
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.

##### 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:

Goodwill | 5 years straight line
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 over its expected useful life, as follows:

Land and buildings | 50 years straight line
Plant and machinery | 20 % 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.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings.

##### 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. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

##### 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.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

##### Other Grants

Grants received in relation to assets are recognised in income on a systematic basis over the useful life of the asset as follows:
Freehold property - 2% Straight line

#### 2. Employees

| 2026 |  | 2025
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 39 |  | 43

#### 3. Intangible assets

| Goodwill |  | Computer software |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 February 2025 | 40,000 |  | 23,966 |  | 63,966
At 31 January 2026 | 40,000 |  | 23,966 |  | 63,966
Accumulated amortisation |  |  |  |  |
At 01 February 2025 | 40,000 |  | 23,966 |  | 63,966
At 31 January 2026 | 40,000 |  | 23,966 |  | 63,966
Net book value |  |  |  |  |
At 31 January 2026 | 0 |  | 0 |  | 0
At 31 January 2025 | 0 |  | 0 |  | 0

#### 4. Tangible assets

| Land and buildings |  | Plant and machinery |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 February 2025 | 6,594,304 |  | 31,106 |  | 1,304,329 |  | 7,929,739
Additions | 71,393 |  | 0 |  | 39,765 |  | 111,158
At 31 January 2026 | 6,665,697 |  | 31,106 |  | 1,344,094 |  | 8,040,897
Accumulated depreciation |  |  |  |  |  |  |
At 01 February 2025 | 1,249,903 |  | 21,905 |  | 1,099,546 |  | 2,371,354
Charge for the financial year | 133,313 |  | 1,840 |  | 36,682 |  | 171,835
At 31 January 2026 | 1,383,216 |  | 23,745 |  | 1,136,228 |  | 2,543,189
Net book value |  |  |  |  |  |  |
At 31 January 2026 | 5,282,481 |  | 7,361 |  | 207,866 |  | 5,497,708
At 31 January 2025 | 5,344,401 |  | 9,201 |  | 204,783 |  | 5,558,385

#### 5. Debtors

| 2026 |  | 2025
| £ |  | £
Trade debtors | 1,415 |  | 1,328
Corporation tax | 0 |  | 6,940
Other debtors | 125,018 |  | 199,715
| 126,433 |  | 207,983

#### 6. Creditors: amounts falling due within one year

| 2026 |  | 2025
| £ |  | £
Bank loans | 63,076 |  | 54,957
Trade creditors | 38,319 |  | 57,310
Other taxation and social security | 63,841 |  | 57,840
Other creditors | 273,389 |  | 194,372
| 438,625 |  | 364,479

#### 7. Creditors: amounts falling due after more than one year

| 2026 |  | 2025
| £ |  | £
Bank loans (secured) | 590,701 |  | 662,755
Other creditors | 820,000 |  | 820,000
| 1,410,701 |  | 1,482,755

Security is given on the above bank borrowings by a charge held over the company's trading assets.
Included in other creditors above is £820,000 (2025 - £820,000) of redeemable preference shares. The Directors have considered the accounting treatment of the redeemable preference shares and decided that they should be disclosed as non current liabilities.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

| 2026 |  | 2025
| £ |  | £
Bank loans (secured) | 442,928 |  | 513,905

#### 8. Called-up share capital

| 2026 |  | 2025
| £ |  | £
Allotted, called-up and fully-paid |  |  |
4,761 Ordinary shares of £ 1.00 each | 4,761 |  | 4,761

#### 9. Related party transactions

Transactions with the entity's directors

| 2026 |  | 2025
| £ |  | £
Advances to directors | 73,632 |  | 150,329

Interest has been charged at HMRC's official rate of interest. These loans are unsecured and are with no fixed date of repayment.