Company No:
Contents
DIRECTORS | Mr D J Jackson |
Mrs S C Metcalfe | |
Mrs A O B Robinson | |
Mr S H J Robinson | |
Mr T G J Robinson | |
Mr J H Robinsonn |
SECRETARY | Mrs S C Metcalfe |
REGISTERED OFFICE | Headlam Hall Hotel |
Headlam | |
Gainford | |
Darlington | |
DL2 3HA | |
United Kingdom |
COMPANY NUMBER | 01902810 (England and Wales) |
CHARTERED ACCOUNTANTS | Murray Harcourt Partners LLP |
6 Queen Street | |
Leeds | |
LS1 2TW |
Note | 2022 | 2021 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 4 |
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Investments | 5 |
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1,342,909 | 442,103 | |||
Current assets | ||||
Stocks | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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1,579,209 | 1,533,320 | |||
Creditors | ||||
Amounts falling due within one year | 8 | (
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Net current assets | 1,171,926 | 1,197,104 | ||
Total assets less current liabilities | 2,514,835 | 1,639,207 | ||
Creditors | ||||
Amounts falling due after more than one year | 9 | (
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Provisions for liabilities | 10, 11 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 12 |
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Share premium account |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Headlam Leisure Limited (registered number:
Mr J H Robinsonn
Director |
Mr T G J Robinson
Director |
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.
Headlam Leisure 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 Headlam Hall Hotel, Headlam, Gainford, Darlington, DL2 3HA, 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 £.
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.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Land and buildings | not depreciated |
Leasehold improvements | depreciated over the life of the lease |
Plant and machinery |
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Vehicles | 25 -
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Fixtures and fittings | 15 -
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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.
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
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 as described below.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
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.
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.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
2022 | 2021 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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2022 | 2021 | ||
£ | £ | ||
Amounts recognised as distributions to equity holders in the financial year: | |||
Interim dividend for the financial year ended 31 January 2022 of £250.00 (2021: £Nil) per ordinary share | 25,000 | 0 | |
Land and buildings | Leasehold improve- ments |
Plant and machinery | Vehicles | Fixtures and fittings | Total | ||||||
£ | £ | £ | £ | £ | £ | ||||||
Cost | |||||||||||
At 01 February 2021 |
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Additions |
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At 31 January 2022 |
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Accumulated depreciation | |||||||||||
At 01 February 2021 |
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Charge for the financial year |
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At 31 January 2022 |
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Net book value | |||||||||||
At 31 January 2022 |
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At 31 January 2021 |
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Investments in subsidiaries
2022 | |
£ | |
Cost | |
At 01 February 2021 |
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At 31 January 2022 |
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Carrying value at 31 January 2022 |
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Carrying value at 31 January 2021 |
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Investments in shares
Name of entity | Registered office | Nature of business | Class of shares |
Ownership 31.01.2022 |
Ownership 31.01.2021 |
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Headlam Hall Hotel, Gainford, Darlington, Durham, DL2 3HA | Hotel, Restaurant and Public House |
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2022 | 2021 | ||
£ | £ | ||
Raw materials |
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Finished goods |
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2022 | 2021 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by Group undertakings (note 13) |
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Corporation tax | (
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Other debtors |
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2022 | 2021 | ||
£ | £ | ||
Bank loans (secured) |
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Trade creditors |
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Other creditors |
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Other taxation and social security |
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2022 | 2021 | ||
£ | £ | ||
Bank loans (secured) |
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2022 | 2021 | ||
£ | £ | ||
Deferred tax |
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2022 | 2021 | ||
£ | £ | ||
At the beginning of financial year | (
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Charged to the Statement of Income and Retained Earnings |
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At the end of financial year | (
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2022 | 2021 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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The Company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member.