CREWE_HOTEL_TRADING_LIMIT - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Crewe Hotel Trading Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wildes House, Worksop Road, Clowne, Chesterfield, S43 4TD.

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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

• Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

• Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: The disclosure requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b), 11.48(c), 12.26, 12.27, 12.29(a), 12.29(b), and 12.29A;

• Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Wildes Group Limited. These consolidated financial statements are available from its registered office, Wildes House, Worksop Road, Clowne, Chesterfield, S43 4TD.

The directors have prepared cash flow forecasts for the company for a period of 12 months from the date of approval of these financial statements and have a reasonable expectation that the company can continue to meet its liabilities as they fall due. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. true

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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

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.

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.

Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

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.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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, 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.

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, 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.

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.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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.

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

The average monthly number of persons employed by the company during the year was:

There is a debenture which has fixed charge, floating charge and negative pledge that was delivered on 2 June 2012 by Coutts & Company over the assets of the company. In addition there is a legal charge that was delivered on 2 June 2012 by Coutts & Company that is secured by all monies due or to become due from the company to the charge on any account whatsoever.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

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

During the year, rents amounting to £80,000 (2021 - £50,000) were charged by the immediate parent company, Crewe Hotel (Guernsey) Limited. £51,832 was received from the company. At 31 March 2022, £459,108 was owed to Crewe Hotel (Guernsey) Limited (2021 - £430,940).

During the year, £600,171 was advanced to Wildes Branded Hotels Limited. At March 2022, £2,159,779 (2021 -£1,559,607) was owed from Wildes Branded Hotels Limited.

During the year, £206,456 was advanced to Kings Gap Trading Limited. At March 2022, £273,558 (2021 - £67,102) was owed from Kings Gap Trading Limited.

During the year, £2,380 was advanced to Kings Gap (Guernsey) Limited. At March 2022, £29,595 (2021 - £27,215) was owed from Kings Gap (Guernsey) Limited.

During the year, £365,381 was advanced from Van Dyk Country House Hotel Limited. At March 2022, £nil (2021 - £365,381) was owed from Van Dyk Country House Hotel Limited.

During the year, £18,239 was advanced from Van Dyk By Wildes Limited. At March 2022, £17,721 (2021 - £35,960) was owed from Van Dyk By Wildes Limited.

During the year, £17,309 was advanced from Van Dyk Limited. At March 2022, £25,150 (2021 - £136,692) was owed from Van Dyk Limited.

During the year, £49,259 was advanced from Wildes Hotel Limited. At March 2022, £25,150 (2021 - owed from £24,108) was owed to Wildes Hotel Limited.

During the year, £26,788 was advanced from Wildes Education Limited. At March 2022, £nil (2021 -26,788) was owed from Wildes Hotel Limited.

During the year, £36,306 was advanced to Wildes Group Limited. At March 2022, £38,306 (2021 - £1,728) was owed from Wildes Group Limited.

During the year, £3,210 was advanced to Wildes House Limited. At March 2022, £10,206 (2021 - £13,415) was owed to Wildes House Limited.

At March 2022, £5,256 was advanced to to Bluebell Hospitality Limited. At March 2022, £nil (2021 - £5,256) was owed to Bluebell Hospitality Limited.

The immediate parent company of Crewe Hotel Trading Limited is Crewe Hotel (Guernsey) Limited, a company registered in Guernsey, who itself is 100% owned by Wildes Branded Hotels, a company incorporated in England and Wales.

Wildes Branded Hotels is a 50% subsidiary of Wildes Group Limited a company registered in England and Wales. The registered office of Wildes Group Limited is Wildes House, Worksop Road, Clowne, Chesterfield, England, S43 4TD.

Wildes Group Limited is considered to be the controlling entity of Wildes Branded Hotels Limited. The ultimate controlling party of Wildes Group Limited is Mr P E Wildes.