1.
General Information
Wildes Group Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
08797882
. The registered office is Wildes House Worksop Road, Clowne, Chesterfield, S43 4TD.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. 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 goods and services provided in the normal course of business, 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:
| Plant & Machinery |
|
| Motor Vehicles |
|
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.
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.
2.5.
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.
Wildes Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
2.6.
Financial Instruments
2.6.
Financial Instruments - continued
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.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
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, 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.
Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
...CONTINUED
Wildes Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or
cancelled.
2.7.
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.
2.8.
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.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2024: NIL)
Wildes Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
4.
Tangible Assets
| Plant & Machinery | Motor Vehicles | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at 1 April 2024 |
|
|
|
| As at 31 March 2025 |
|
|
|
| Depreciation | |||
| As at 1 April 2024 |
|
|
|
| Provided during the period |
|
|
|
| As at 31 March 2025 |
|
|
|
| Net Book Value | |||
| As at 31 March 2025 |
|
|
|
| As at 1 April 2024 |
|
|
|
5.
Investments
| Subsidiaries | |
|---|---|
| £ | |
| Cost or Valuation | |
| As at 1 April 2024 |
|
| Disposals |
( |
| As at 31 March 2025 |
|
| Provision | |
| As at 1 April 2024 |
|
| As at 31 March 2025 |
|
| Net Book Value | |
| As at 31 March 2025 |
|
| As at 1 April 2024 |
|
6.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
|
|
|
| Unpaid share capital |
|
|
|
| Taxation and social security |
|
|
|
| Directors' loan accounts | - |
|
|
| Amounts owed by group undertakings |
|
|
|
| Amounts owed by other participating interests | 2,763,645 | - | |
|
|
|
||
Wildes Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
7.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
| Trade creditors |
|
|
|
| Bank loans and overdrafts |
|
|
|
| Other creditors |
|
|
|
| Accruals and deferred income |
|
|
|
| Amounts owed to group undertakings |
|
|
|
| Amounts owed to other participating interests |
|
|
|
|
|
|
||
8.
Creditors: Amounts Falling Due After More Than One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
9.
Obligations Under Finance Leases and Hire Purchase
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| The future minimum finance lease payments are as follows: | |||
| Not later than one year |
|
|
|
| Later than one year and not later than five years |
|
|
|
|
|
|
||
|
|
|
||
10.
Deferred Taxation
The provision for deferred tax is made up as follows:
|
2025
|
2024
|
||
|
£
|
£
|
||
|
Balance at start of year
|
92,356
|
92,356
|
|
|
Provided during year
|
6,531
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
-
|
|
|
Balance at end of year
|
98,887
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
|
92,356
|
The deferred tax liability set out above is not expected to reverse completely within 12 months and relates to revaluation of tangible fixed assets.
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Other timing differences | 98,887 | 92,356 | |
Wildes Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
12.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at 1 April 2024 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 March 2025 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Mr Marc Wildes |
|
|
|
- |
|
13.
Reserves
| Revaluation reserve | Profit and Loss Account | |
|---|---|---|
| £ | £ | |
| As at 1 April 2024 |
|
( |
| Profit for the year and total comprehensive income | - |
|
| As at 31 March 2025 |
|
( |
14.
Related Party Transactions
14.
Related Party Transactions - continued
The following transactions were entered into with companies in which the directors held an interest or were related parties:
During the year £895,441 was advanced to Wildes Branded Hotels Limited. At 31 March 2025, the balance due from Wildes Branded Hotels Limited was £55,312 ( 2024: £840,129 due to).
During the year £35 (net) was advanced to Bluebell Hospitality Limited. At 31 March 2025, the balance due to Bluebell Hospitality Limited was £46,829 (2024: £46,864).
During the year £498,558 (net) was received from Crewe Hotel (Guernsey) Limited. At 31 March 2025, the balance due to Crewe Hotel (Guernsey) Limited was £112,468 (2024: £386,090 due from).
During the year £38,646 (net) was received from Crewe Hotel Trading Limited. At 31 March 2025, the balance due to Crewe Hotel Trading Limited was £109,925 (2024: £71,279).
During the year £3,041 (net) was received from Van Dyk Limited. At 31 March 2025, the balance due to Van Dyk Limited was £2,255,242 (2024: £2,252,201).
During the year £2,906 was received from Designs By Daykin Limited. At 31 March 2025 the balance due to Designs By Daykin Limited was £19,407 (2024: £16,501).
During the year £426,188 (net) was advanced to Wildes Hotel Limited. At 31 March 2025, the balance due to Wildes Hotel Limited was £nil (2024: £426,188).
During the year £nil was advanced to Wildes House Limited. At 31 March 2025, the balance due from Wildes House Limited was £429,237 (2024: £429,237).
During the year £2,476,755 was advanced to Bluebell Resourcing Limited. At 31 March 2025, the balance due from Bluebell Resourcing Limited was £2,476,755 (2024: £nil).
During the year £1 was advanced to Wildes Mansion Limited. At 31 March 2025, the balance due from Wildes Mansion Limited was £1,500 (2024: £1,499).
During the year £960,119 was advanced to Wildes Property Investments Limited. At 31 March 2025, the balance due to Wildes Property Investments Limited was £nil (2024: £960,119).
During the year £363,245 was received from Wildes Inns Limited. At 31 March 2025, the balance due to Wildes Inns Limited was £463,476 (2024: £100,231).
...CONTINUED
Wildes Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
During the year £18,758 (net) was advanced to Bluebell Hotel Limited. At 31st March 2025, the balance due from Bluebell Hotel Limited was £229,783 (2024: £211,025).
During the year £nil was advanced by Bluebell Event Services Limited. At 31st March 2025, the balance due to Bluebell Event Services Limited was £310 (2024: £310).
During the year £1,456,475 was received from Chester Hotel Holdings Limited. At 31 March 2025, the balance due to Chester Hotel Holdings Limited was £1,456,475 (2024: £nil).
During the year £294 was advanced to Crewe Hotel Holdings Limited. At 31 March 2025, the balance due from Crewe Hotel Holdings Limited was £294 (2024: £nil).
15.
Ultimate Controlling Party
The company's ultimate controlling party is Caroline Wildes by virtue of her ownership of 100% of the issued share capital in the company.