ELYZIAN HOSPITALITY LIMITED

ELYZIAN HOSPITALITY LIMITED

ELYZIAN HOSPITALITY LIMITED - Company Information

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ELYZIAN HOSPITALITY LIMITED

Company Registration Number:
03486502 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2018

Period of accounts

Start date: 01 January 2018

End date: 31 December 2018

ELYZIAN HOSPITALITY LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2018

Balance sheet
Notes

ELYZIAN HOSPITALITY LIMITED

Balance sheet

As at 31 December 2018


Notes
2018
2017


£
£
Fixed assets
Tangible assets: 3 1,740,030 1,787,261
Investments: 4 100 100
Total fixed assets: 1,740,130 1,787,361
Current assets
Stocks: 6,198 13,435
Debtors: 5 7,466 247,660
Cash at bank and in hand: 2,431 3,506
Total current assets: 16,095 264,601
Creditors: amounts falling due within one year: 6 (469,789) (847,821)
Net current assets (liabilities): (453,694) (583,220)
Total assets less current liabilities: 1,286,436 1,204,141
Creditors: amounts falling due after more than one year: 7 (1,037,895) (859,363)
Total net assets (liabilities): 248,541 344,778
Capital and reserves
Called up share capital: 800,002 800,002
Revaluation reserve:8509,657509,657
Profit and loss account: (1,061,118) (964,881)
Shareholders funds: 248,541 344,778

The notes form part of these financial statements

ELYZIAN HOSPITALITY LIMITED

Balance sheet statements

For the year ending 31 December 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 16 September 2019
and signed on behalf of the board by:

Name: D S Hardman
Status: Director

The notes form part of these financial statements

ELYZIAN HOSPITALITY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents invoiced sales, excluding value added tax.

Tangible fixed assets and depreciation policy

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:Freehold land and buildings - no depreciation. Plant & machinery 33%/20%/10% straight line.No depreciation is provided in respect of freehold land and buildings. It is the directors' intention to maintain the buildings in a good state of repair and as a consequence the value of the buildings is not affected by the passage of time. In the opinion of the directors, any element of depreciation would be immaterial.

Intangible fixed assets and amortisation policy

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

ELYZIAN HOSPITALITY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

2. Employees

2018 2017
Average number of employees during the period 41 56

ELYZIAN HOSPITALITY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

3. Tangible Assets

Total
Cost £
At 01 January 2018 2,214,304
Additions 5,035
Disposals (215,017)
At 31 December 2018 2,004,322
Depreciation
At 01 January 2018 427,043
Charge for year 10,260
On disposals (173,011)
At 31 December 2018 264,292
Net book value
At 31 December 2018 1,740,030
At 31 December 2017 1,787,261

ELYZIAN HOSPITALITY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

4. Fixed investments

Details of the company's subsidiaries at 31 December 2018 are as follows:Elyzian Estates Limited, registered in England and Wales, nature of business is property rental. Holding 100% of the ordinary share capital.Elyzian Estates Limited - Loss for the year £76,306 and capital and reserves - £192,696.

ELYZIAN HOSPITALITY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

5. Debtors

2018 2017
££
Debtors due after more than one year: 0 0

ELYZIAN HOSPITALITY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

6. Creditors: amounts falling due within one year note

Bank loans and overdrafts - £55,176Trade creditors - £86,680Amounts due to group undertakings - £178,225Other taxation and social security - £24,889Other creditors - £124,819TOTAL - £469,789

ELYZIAN HOSPITALITY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

7. Creditors: amounts falling due after more than one year note

Bank loans and overdrafts - £337,895Other creditors - £700,000

ELYZIAN HOSPITALITY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

8. Revaluation reserve

2018
£
Balance at 01 January 2018 509,657
Surplus or deficit after revaluation 0
Balance at 31 December 2018 509,657

ELYZIAN HOSPITALITY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

9. Related party transactions

Name of the related party: Elyzian Estates Limited
Relationship:
Subsidiary
Description of the Transaction: Loan repayments of £58,819 (2018: £115,683). The balance outstanding on the loan at 31 December 2018 is £334,528 (2017: £1,498,853).Rent of £53,250 (2014: £105,000). At the year end £178,225 was due from Elyzian Hospitality Limited (2017: due to Elyzian Hospitality £226,344).
£
Balance at 01 January 2018 226,344
Balance at 31 December 2018 178,225
Name of the related party: Elyzian Estates Limited
Relationship:
Subsidiary
Description of the Transaction: During the year Elyzian Hospitality Limited made loan repayments of £58,819 (2017: £115,683) on behalfof Elyzian Estates Limited. The balance outstanding on the loan at 31 December 2018 is £334,528 (2017: £1,498,853).Elyzian Hospitality Limited paid rent to Elyzian Estates Limited of £53,250 (2017: £105,000). At the year end £178,225 was due from Elyzian Hospitality Limited (2017: due to Elyzian Hospitality £226,344).
£
Balance at 01 January 2018 226,344
Balance at 31 December 2018 178,225