Tivoli Inns (Cardiff) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09886179 (England and Wales)

TIVOLI INNS (CARDIFF) LIMITED

Unaudited Financial Statements

for the Year Ended 31 October 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T E Stringer

P M Pioli

SECRETARY:

Mrs H R Pioli

REGISTERED OFFICE:

Orchard House

Crab Apple Way

Vale Business Park

Evesham

Worcestershire

WR11 1GE

REGISTERED NUMBER:

09886179 (England and Wales)

ACCOUNTANTS:

Phoenix Business Associates Limited

Chartered Certified Accountants

The Riding School House

Bulls Lane

Wishaw

Sutton Coldfield

West Midlands

B76 9QW

FIXED ASSETS

Tangible assets

4

307,861

341,804

CURRENT ASSETS

Stocks

11,332

12,098

Debtors

5

52,582

50,786

Cash at bank and in hand

187,623

53,324

251,537

116,208

CREDITORS

Amounts falling due within one year

6

385,543

394,662

NET CURRENT LIABILITIES

(134,006

)

(278,454

)

TOTAL ASSETS LESS CURRENT LIABILITIES

173,855

63,350

CREDITORS

Amounts falling due after more than one year

7

(131,925

)

(142,135

)

PROVISIONS FOR LIABILITIES

8

(36,270

)

(57,594

)

NET ASSETS/(LIABILITIES)

5,660

(136,379

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

5,659

(136,380

)

SHAREHOLDERS' FUNDS

5,660

(136,379

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 4 April 2019 and were signed on its behalf by:

P M Pioli - Director

T E Stringer - Director

1.	STATUTORY INFORMATION

Tivoli Inns (Cardiff) Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

As at the balance sheet date the company is showing net current liabilities. However, included in

creditors due within one year is an amount owed to the parent company which has given assurances

that they will not require repayment of such liabilities until the company has returned to solvency.

Accordingly the Directors considers the going concern basis of preparation to be appropriate.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Long leasehold

-

over the period of the lease

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year 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 or

directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Lease incentives

The benefits of lease incentives are recognised in the profit and loss account over the total lease

period.

Holiday pay accrual

The liability is recognised when an employee has provided service in exchange for benefits to be paid

in the future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2017 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 November 2017

263,778

114,294

378,072

Additions

1,370

11,923

13,293

At 31 October 2018

265,148

126,217

391,365

DEPRECIATION

At 1 November 2017

13,925

22,343

36,268

Charge for year

17,064

30,172

47,236

At 31 October 2018

30,989

52,515

83,504

NET BOOK VALUE

At 31 October 2018

234,159

73,702

307,861

At 31 October 2017

249,853

91,951

341,804

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/18

31/10/17

£

£

Trade debtors

29,264

27,501

Other debtors

23,318

23,285

52,582

50,786

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/18

31/10/17

£

£

Bank loans and overdrafts

1,294

-

Trade creditors

196,607

68,662

Amounts owed to group undertakings

82,000

178,000

Taxation and social security

61,087

21,010

Other creditors

44,555

126,990

385,543

394,662

Included in creditors is an amount due to the parent company. The loan is subject to a formal

agreement, carries interest at a commercial rate and is repayable on demand. Accordingly the

directors have classified this loan as a current liability.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/10/18

31/10/17

£

£

Other creditors

131,925

142,135

8.	PROVISIONS FOR LIABILITIES

31/10/18

31/10/17

£

£

Deferred tax

36,270

57,594

Deferred

tax

£

Balance at 1 November 2017

57,594

Credit to Profit and Loss Account during year

(21,324

)

Balance at 31 October 2018

36,270

Deferred tax provision relates solely to accelerated capital allowances.

9.	OTHER FINANCIAL COMMITMENTS

As at the balance sheet date, the company had total future minimum lease payments under an

operating lease for plant and machinery amounting to £10,164 per annum. This lease has no

cessation date and the lessee or lessor can terminate the agreement at any time.

The company also has total future minimum lease payments under another operating lease amounting

to £1,040,000.

10.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Tivoli Inns Limited.