REGISTERED NUMBER: 04976562 (England and Wales)

Financial Statements

for the Year Ended 31 October 2025

for

Inglewood Manor Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C J Naylor

Mrs K J Naylor

REGISTERED OFFICE:

Peckforton Castle

Stone House Lane

Peckforton

Tarporley

Cheshire

CW6 9TN

REGISTERED NUMBER:

04976562 (England and Wales)

AUDITORS:

Bennett Brooks & Co Limited

Chartered Accountants

& Statutory Auditors

St George's Court

Winnington Avenue

Northwich

Cheshire

CW8 4EE

FIXED ASSETS

Intangible assets

4

14,365

5,790

Tangible assets

5

3,018,058

3,051,306

Investment property

6

353,980

353,980

3,386,403

3,411,076

CURRENT ASSETS

Stocks

23,633

20,210

Debtors

7

85,055

108,590

Cash at bank and in hand

144,466

135,721

253,154

264,521

CREDITORS

Amounts falling due within one year

8

(1,735,150

)

(1,453,361

)

NET CURRENT LIABILITIES

(1,481,996

)

(1,188,840

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,904,407

2,222,236

CREDITORS

Amounts falling due after more than one year

9

(33,892

)

(45,307

)

PROVISIONS FOR LIABILITIES

(265,515

)

(276,312

)

NET ASSETS

1,605,000

1,900,617

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Revaluation reserve

1,476,242

1,476,242

Retained earnings

127,758

423,375

1,605,000

1,900,617

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 31 July 2026 and were signed on its behalf by:

C J Naylor - Director

1.	STATUTORY INFORMATION

Inglewood Manor Limited is a private company, limited by shares, incorporated and 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 (£).

Transactions are rounded to the nearest £.

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.

The financial statements have been prepared on a going concern basis under the historical cost convention in accordance with the Companies Act 2006.

Going Concern

The company is mainly funded through cash reserves and parent company borrowings. The company is party to the Group’s banking arrangements and is reliant on the support of its ultimate parent company, which has confirmed in writing that the financial support will be provided for the foreseeable future.

The Group generates income from guests staying in the hotels, restaurant and bar takings, experience days, weddings and other events. The hospitality sector remains subject to significant economic pressures, primarily as a result of rising operational costs.

The Group is mainly funded through bank borrowings which are secured on the Group's hotel assets. The Group had long-term financing in place, which was renewed on 4 August 2025. Following the renewal, the Group technically breached the quarterly covenant requirements in certain periods up to the date of approval of the financial statements. The Group's bankers have acknowledged the breaches and have not demanded repayment of the loan. The Group's bankers continue to remain supportive and communicative with the Directors. The forecasts prepared show that the Group can operate within the level of its current facilities for at least 12 months from the date of authorisation of these financial statements.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the company continues to adopt the going concern basis in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The preparation of financial statements in conformity with FRS 102 requires the use of certain critical accounting estimates, it also requires management to exercise its judgement in the process of applying the company's accounting policies. The areas involving a higher degree of judgement are:

Valuation of freehold property

The valuation of freehold property requires the use of significant judgements and estimates principally the judgement surrounding the directors estimate of the high residual value of the property and the long useful economic life which results in any depreciation charge being not material. The directors also apply judgement in determining the carrying value of the property which takes into account the independent valuations performed by qualified valuers. These valuations are sensitive to changes in market conditions and key assumptions, and therefore the carrying amount of freehold property may fluctuate from year to year.

Valuation of investment property

The valuation of investment property requires the use of significant judgements and estimates. The directors apply judgement in determining the carrying value of the properties which takes into account the independent valuations performed by qualified valuers. These valuations are sensitive to changes in market conditions and key assumptions, and therefore the carrying amount of investment property may fluctuate from year to year.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Wedding and function room hire turnover is recognised once the event has taken place. Any deposits taken are held within other creditors and released to the profit and loss account once the event has passed.

Accommodation turnover is recognised on the day the guest has stayed at the hotel. Any deposits taken are held within other creditors and released to the profit and loss account once the event has passed.

Turnover in relation to the sale of food and drink in the restaurants and bars are recognised at the point of sale at the tills.

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 five years.

Tangible fixed assets

Tangible assets are stated at cost less accumulated depreciation. Cost includes the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use. Land and buildings comprising of the hotel owned by the company is measured at fair value under the revaluation method and improvements to property which are held at cost and depreciated on varying rates of 2 to 10 years based on its estimated useful life.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

- 3 to 20 years

Fixtures & fittings

- 3 to 10 years

Computer equipment

- 2 to 5 years

Motor vehicles

- 5 years

The hotel, being a long standing enduring asset, is not depreciated as the combination of a high residual value and long useful economic life results in a depreciable amount on which the annual depreciation charge would be immaterial. The directors carry out an annual impairment review and expense repairs as they are incurred. Removable fixtures, consistent with a hotel complex, are depreciated over their useful economic life.

Investment property

Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure. Investment properties are subsequently measured at fair value with changes in fair value 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.

Leasing commitments

Rentals paid under operating leases (in cases where the risks and rewards of ownership do not rest with the company) 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 benefit pension scheme. Contributions payable into the company's pension scheme are charged to the profit and loss in the period to which they relate.

Other debtors

Other debtors are measured at the transaction price.

Other creditors

Other creditors are measured at the transaction price. Deposits for events are held within other creditors and released to the profit and loss when the event has taken place.

Share capital

Ordinary shares are classed as equity.

Distributions to equity holders

Dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the company's shareholders. These amounts are recognised in the statement of changed in equity.

Taxation

Taxation expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income (which relates to deferred tax recognised on revalued properties) or directly in equity when it is recognised in those statements respectively. Current or deferred tax assets and liabilities are not discounted.

Current tax

Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years and is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

Deferred tax

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Deferred tax is recognised on all timing differences at the reporting date. Deferred tax is measured using 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.

Interest payable and similar expenses

Interest payable is recognised in profit or loss as it accrues, using the effective interest rate.

Financial instruments

Financial assets

Basic financial assets, including trade and other debtors, amounts owed by group undertakings, cash and bank balances, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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.

Other financial assets 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.

Financial assets - continued

Financial assets are derecognised when:

(a) the contractual rights to the cash flows from the asset expire or are settled; or

(b) substantially all the risks and rewards of the ownership of the asset are transferred to another party; or

(c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other creditors and amounts owed to group undertakings, 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 receipts discounted at a market rate of interest.

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. Accounts 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.

Financial investments

Financial investments will be recognized and initially measured at cost, which includes transaction costs directly attributable to the acquisition.

Subsequent measurement will depend on the category of the investment: held for trading and available for sale investments will be measured at fair value, while held to maturity investments will be measured at amortized cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 57 (2024 - 58 ) .

4.	INTANGIBLE FIXED ASSETS

Computer software

£

COST

At 1 November 2024

22,850

Additions

12,500

At 31 October 2025

35,350

AMORTISATION

At 1 November 2024

17,060

Charge for year

3,925

At 31 October 2025

20,985

NET BOOK VALUE

At 31 October 2025

14,365

At 31 October 2024

5,790

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 November 2024

2,905,505

1,703,619

4,609,124

Additions

4,095

23,184

27,279

At 31 October 2025

2,909,600

1,726,803

4,636,403

DEPRECIATION

At 1 November 2024

6,032

1,551,786

1,557,818

Charge for year

6,868

53,659

60,527

At 31 October 2025

12,900

1,605,445

1,618,345

NET BOOK VALUE

At 31 October 2025

2,896,700

121,358

3,018,058

At 31 October 2024

2,899,473

151,833

3,051,306

Freehold property within Land and buildings is included in the security of the loan facility held in the parent company, Boutique Hotel Group Limited.

Cost or valuation at 31 October 2025 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2004

699,000

-

699,000

Valuation in 2007

1,403,000

-

1,403,000

Valuation in 2013

(790,000

)

-

(790,000

)

Valuation in 2018

(610,872

)

-

(610,872

)

Cost

2,208,472

1,726,803

3,935,275

2,909,600

1,726,803

4,636,403

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

2025

2024

£

£

Cost

2,488,721

2,488,721

Aggregate depreciation

433,924

433,924

Freehold property was valued based on a report prepared by Graham + Sibbald Property Consultants Limited on 12 September 2025 on an open market basis.

The valuation resulted in no change to the carrying amount of the asset.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2024

and 31 October 2025

353,980

NET BOOK VALUE

At 31 October 2025

353,980

At 31 October 2024

353,980

Investment property is included in the security of the loan facility held in the parent company, Boutique Hotel Group Limited.

Investment property was valued based on a report prepared by Graham + Sibbald Property Consultants Limited on 12 September 2025 on an open market basis. The valuation resulted in no change to the carrying amount of the asset.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

44,251

77,438

Amounts owed by group undertakings

34,595

-

Other debtors

6,209

31,152

85,055

108,590

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

82,352

73,525

Amounts owed to group undertakings

1,250,022

845,264

Taxation and social security

47,273

14

Other creditors

355,503

534,558

1,735,150

1,453,361

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

33,892

45,307

10.	SECURED DEBTS

There is a cross guarantee and debenture between the group companies, secured by way of a legal charge on the freehold property.

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Bailey BSc (Hons) FCA (Senior Statutory Auditor)

for and on behalf of Bennett Brooks & Co Limited

12.	RELATED PARTY DISCLOSURES

Exemption has been taken under FRS 102 Section 33 with regard to disclosure of inter-group transactions. Group accounts are available from the company's registered office.

During the year, the company generated revenue with related parties as follows:

Olive Linen Limited - laundry space rental income of £27,000 (2024: £12,519). There was no balance outstanding at the balance sheet date (2024: £11,111). This company is controlled by a director.

Boutique Hotel Group Limited is regarded by the directors as being the company's ultimate parent company.

The smallest and largest group of which the company is a member and for which group accounts are drawn up is that of Boutique Hotel Group Limited. The registered office of the ultimate parent company is the same as Inglewood Manor Limited and can be found on the Company Information page.

13.	ULTIMATE CONTROLLING PARTY

The directors consider there to be no ultimate controlling party.