Van Dyk Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—8

1. General Information

Van Dyk Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12005570 . The registered office is Wildes House Worksop Road, Clowne, Chesterfield, S43 4TD.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, . The principal accounting policies adopted are set out below.

2.2. Going Concern Disclosure

The directors have a reasonable expectation that the group has adequate resources to continue in operational existence for at least twelve months from the date of approval of these financial statements. In forming this view, the directors have considered the group’s latest forecasts and budgets for the periods ending 31 March 2027. These forecasts indicate that the group is expected to generate positive EBITDA in both the years ending 31 March 2026 and 31 March 2027.

Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis.

2.3. Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rent charged and is shown net of VAT and other sales related taxes.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	20%, 50% and 100% straight line
Computer Equipment	50% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

2.5. Investment Properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

2.6. Leasing and Hire Purchase Contracts

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

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Van Dyk Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. 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.

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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

2.8. Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

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Van Dyk Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.9. 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.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

2.10. Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

2.11. Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2024: NIL)

4. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 April 2024	802,787	71,883	874,670

As at 31 March 2025	802,787	71,883	874,670

Depreciation
As at 1 April 2024	476,768	71,883	548,651
Provided during the period	127,055	-	127,055

As at 31 March 2025	603,823	71,883	675,706

Net Book Value
As at 31 March 2025	198,964	-	198,964

As at 1 April 2024	326,019	-	326,019

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Van Dyk Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Investment Property

	2025
	£
Fair Value
As at 1 April 2024 and 31 March 2025	16,900,000

Investment property comprises the Hotel Van Dyk, Worksop Road, Chesterfield S43 4TD. The fair value of

the investment property has been revalued as at 26th July 2023 by Knight Frank Estate Agents. All the special

assumptions on this valuation report have been met to date. Therefore the directors have assessed the

appropriateness of this valuation and agree the valuation to be £16,900,000 at the 31 March 2025.

6. Investments

	Subsidiaries
	£
Cost or Valuation
As at 1 April 2024	3
Disposals	(2 )

As at 31 March 2025	1

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	1

As at 1 April 2024	3

7. Debtors

	2025	2024
	£	£
Due within one year
Amounts owed by group undertakings	1,136,139	2,627,707
Amounts owed by participating interests	2,524,785	-
Other debtors	186,514	384,125

	3,847,438	3,011,832

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	35,610
Trade creditors	43,568	359
Bank loans and overdrafts	133,846	124,288
Amounts owed to group undertakings	567,828	1,097,050
Amounts owed to participating interests	1,350,080	108,000
Other creditors	87,088	99,264
Taxation and social security	19	100

	2,182,429	1,464,671

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Van Dyk Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	300
Bank loans	8,209,133	8,322,194

	8,209,133	8,322,494

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1	1

11. Related Party Transactions

The following transactions were entered into with companies in which the directors held an interest or were related parties:

During the year £3,041 (net) was advanced to Wildes Group Limited. At 31 March 2025, £2,255,242 was due from (2024 – £2,252,201) Wildes Group Limited.

During the year £36,605 eas received from Wildes Branded Hotels Limited. At 31 March 2025, £445,880 was due to (2024 - £409,275) Wildes Branded Hotels Limited.

During the year £129,376 was received from Crewe Hotel (Guernsey) Limited. At 31 March 2025, £694,927 was owed to (2024 - £565,551) Crewe Hotel (Guernsey) Limited.

During the year £277 (net) was advanced to Crewe Hotel Trading Limited. At 31 March 2025, £121,948 was owed to (2024 – £122,225) Crewe Hotel Trading Limited.

During the year £120,035 was advanced to Wildes Hotel Limited. At 31 March 2025, £nil was owed to (2024 - £120,035) Wildes Hotel Limited.

During the year £nil was received from Wildes House Limited. At 31 March 2025, £127,037 was due from (2024 - £127,037) Wildes House Limited.

During the year £136,981 was received from Wildes Property Investments Limited. At 31 March 2025, £nil was owed from (2024 - £136,981) Wildes Property Investments Limited.

During the year £42,268 was advanced to Bluebell Resourcing Limited. At 31 March 2025, £42,268 was owed from (2024 - £nil) Bluebell Resourcing Limited.

During the year £72,000 (net) was advanced to Designs By Daykin Limited. At 31 March 2025, £83,292 was owed from (2024 - £11,292) Designs By Daykin Limited.

During the year £155,000 (net) was advanced to Bluebell Event Services Limited. At 31 March 2025, £169,999 was owed from (2024 - £14,999) Bluebell Event Services Limited.

During the year £679,460 (net) was received from Wildes Inns Limited. At 31 March 2025, £655,152 was owed to (2024 - £24,308 was owed from) Wildes Inns Limited.

During the year £768,269 (net) was advanced to Bluebell Hotel Limited. At 31 March 2025 £966,140 was owed from (2024 - £197,870) Bluebell Hotel Limited.

During the year £16,946 (net) was advanced to Chester Hotel Holdings Limited. At 31 March 2025, £16,946 was owed from (2024 - £nil) Chester Hotel Holdings Limited.

12. Ultimate Parent Undertaking and Controlling Party

The immediate parent company of Van Dyk Limited is Wildes Branded Hotels Limited, a company incorporated in England and Wales.

Wildes Branded Hotels Limited is 50% owned by Mr P E Wildes and 50% owned by Mr N Smurthwaite. They are the ultimate controlling parties of Van Dyk Limited.

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Van Dyk Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

13. Securities

A legal charge and debenture were registered against the company on 18 August 2023 by Cynergy Bank Limited. The fixed element of the charge is held against the freehold property of the Van Dyk Hotel and the freehold land adjacent to it. The floating element of the charge is held against all assets of the company.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		198,964		326,019
Investment Properties	5		16,900,000		16,900,000
Investments	6		1		3

			17,098,965		17,226,022
CURRENT ASSETS
Debtors	7	3,847,438		3,011,832
Cash at bank and in hand		17,113		15,616

		3,864,551		3,027,448
Creditors: Amounts Falling Due Within One Year	8	(2,182,429 )		(1,464,671 )

NET CURRENT ASSETS (LIABILITIES)			1,682,122		1,562,777

TOTAL ASSETS LESS CURRENT LIABILITIES			18,781,087		18,788,799

Creditors: Amounts Falling Due After More Than One Year	9		(8,209,133 )		(8,322,494 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,371,381 )		(1,371,381 )

NET ASSETS			9,200,573		9,094,924

CAPITAL AND RESERVES
Called up share capital	10		1		1
Revaluation reserve			4,114,140		4,114,140
Profit and Loss Account			5,086,432		4,980,783

SHAREHOLDERS' FUNDS			9,200,573		9,094,924