Titchwell Manor Hotel Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01149019 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 DECEMBER 2024 TO 31 AUGUST 2025

FOR

TITCHWELL MANOR HOTEL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G D Fulford

P H G Turner

REGISTERED OFFICE:

Units 2 - 3 The Wheelwrights

Lower Green

Higham

Bury St Edmunds

Suffolk

IP28 6NL

REGISTERED NUMBER:

01149019 (England and Wales)

ACCOUNTANTS:

Wheelers

Chartered Accountants & Tax Consultants

27-29 Old Market

Wisbech

Cambridgeshire

PE13 1NE

FIXED ASSETS

Intangible assets

4

-

479

Tangible assets

5

3,915,883

3,952,604

Investment property

6

380,000

376,750

4,295,883

4,329,833

CURRENT ASSETS

Stocks

28,090

27,147

Debtors

7

41,624

72,128

Cash at bank and in hand

102,817

153,431

172,531

252,706

CREDITORS

Amounts falling due within one year

8

601,385

602,410

NET CURRENT LIABILITIES

(428,854

)

(349,704

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,867,029

3,980,129

CREDITORS

Amounts falling due after more than one
year

9

(1,809,308

)

(1,874,779

)

PROVISIONS FOR LIABILITIES

(371,588

)

(359,051

)

NET ASSETS

1,686,133

1,746,299

CAPITAL AND RESERVES

Called up share capital

10,000

Revaluation reserve

12

1,463,421

1,460,983

Retained earnings

212,712

275,316

SHAREHOLDERS' FUNDS

1,686,133

1,746,299

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2026 and were signed on its behalf by:

G D Fulford - Director

1.	STATUTORY INFORMATION

Titchwell Manor 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

At the balance sheet date the company had a working capital deficit of £428,854 by virtue of its current liabilities exceeding its current assets. The directors are confident that the going concern basis for the preparation of the financial statements is appropriate, and have confirmed their continuing support for the company in writing.

The directors decided to shorten the accounting reference date to 31 August 2025 to coincide with a change in ownership. The current period is a nine month period and the comparatives are for a twelve month period.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

4% on cost

Fixtures and fittings

-

15% on reducing balance

Freehold property is measured using the revaluation model less any subsequent accumulated deprecation.The directors have considered the residual value of the freehold property having regard to market value of the land, estimated by the directors to be £1.25 million and the current condition of the property and have considered that the residual value of the property would be £1.875 million, and have therefore depreciated the property over 25 years based on this.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 41 (2024 - 42 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

COST

At 1 December 2024

and 31 August 2025

75,000

3,455

78,455

AMORTISATION

At 1 December 2024

75,000

2,976

77,976

Charge for period

-

479

At 31 August 2025

75,000

3,455

78,455

NET BOOK VALUE

At 31 August 2025

-

At 30 November 2024

-

479

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

COST OR VALUATION

At 1 December 2024

3,750,000

654,082

4,404,082

Additions

-

7,201

At 31 August 2025

3,750,000

661,283

4,411,283

DEPRECIATION

At 1 December 2024

14,550

436,928

451,478

Charge for period

18,750

25,172

43,922

At 31 August 2025

33,300

462,100

495,400

NET BOOK VALUE

At 31 August 2025

3,716,700

199,183

3,915,883

At 30 November 2024

3,735,450

217,154

3,952,604

Included in cost or valuation of land and buildings is freehold land of £ 70,227 (2024 - £ 70,227 ) which is not depreciated.

Cost or valuation at 31 August 2025 is represented by:

Fixtures

Freehold

and

property

fittings

Totals

£

Valuation in 2025

3,750,000

661,283

4,411,283

If freehold property had not been revalued it would have been included at the following historical cost:

31.8.25

30.11.24

£

Cost

2,698,032

Aggregate depreciation

857,921

752,808

Freehold property was valued on an open market basis on 31 August 2025 by the directors .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Fixtures

and

fittings

£

COST OR VALUATION

At 1 December 2024

and 31 August 2025

12,660

DEPRECIATION

At 1 December 2024

868

Charge for period

1,326

At 31 August 2025

2,194

NET BOOK VALUE

At 31 August 2025

10,466

At 30 November 2024

11,792

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2024

376,750

Revaluations

3,250

At 31 August 2025

380,000

NET BOOK VALUE

At 31 August 2025

380,000

At 30 November 2024

376,750

Fair value at 31 August 2025 is represented by:

£

Valuation in 2025

380,000

If the investment property had not been revalued it would have been included at the following historical cost:

31.8.25

30.11.24

£

Cost

289,144

Investment property was valued on an open market basis on 30 November 2024 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

30.11.24

£

Trade debtors

7,667

13,318

Other debtors

33,957

58,810

41,624

72,128

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

30.11.24

£

Bank loans and overdrafts

83,850

Hire purchase contracts (see note 10)

5,419

5,136

Trade creditors

85,197

55,795

Taxation and social security

95,402

100,897

Other creditors

331,517

356,732

601,385

602,410

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.8.25

30.11.24

£

Bank loans

1,299,675

1,362,563

Hire purchase contracts (see note 10)

9,633

12,216

Other creditors

500,000

1,809,308

1,874,779

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.8.25

30.11.24

£

Net obligations repayable:

Within one year

5,419

5,136

Between one and five years

9,633

12,216

15,052

17,352

Non-cancellable

operating leases

31.8.25

30.11.24

£

Within one year

7,353

17,129

Between one and five years

14,705

35,854

22,058

52,983

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.25

30.11.24

£

Bank loans

1,383,525

1,446,413

Hire purchase contracts

15,052

17,352

Other creditors

500,000

1,898,577

1,963,765

Assets acquired under hire purchase agreements remain the property of the finance company until the agreement is complete.

The bank loans are secured by a debenture in favour of Svenska Handelsbanken AB (publ) by way of fixed and floating charges over the assets of the company.

Other creditors are secured by a debenture in favour of GI and Mrs MM Snaith by way of a fixed charge over the property of the company, subject to the first charge in favour of Svenska Handelsbanken AB (publ).

12.

RESERVES

Revaluation

reserve

£

At 1 December 2024

1,460,983

Reclassification

2,438

At 31 August 2025

1,463,421

13.	CONTINGENT LIABILITIES

The company received a grant of £14,630 during a previous year under The Business Energy Efficiency Anglia Programme of the European Regional Development Fund in respect of equipment for a hybrid heating system. The grant may be repayable up to ten years after the date on which the final payment was made if the company does not adhere to the grant conditions.

No provision has been made in the accounts as it is considered to be a remote possibility that the above conditions will not be satisfied.