The Lathkil Hotel Limited Filleted accounts for Companies House (small and micro)

LATHKIL HOTEL LIMITED(THE) - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2018-02-01 Sage Accounts Production Advanced 2018 Update 1 - FRS xbrli:pure xbrli:shares iso4217:GBP 01594605 2018-02-01 2019-01-31 01594605 2019-01-31 01594605 2018-01-31 01594605 2017-02-01 2018-01-31 01594605 2018-01-31 01594605 core:MotorVehicles 2018-02-01 2019-01-31 01594605 bus:Director1 2018-02-01 2019-01-31 01594605 core:LandBuildings 2018-01-31 01594605 core:PlantMachinery 2018-01-31 01594605 core:MotorVehicles 2018-01-31 01594605 core:LandBuildings 2019-01-31 01594605 core:PlantMachinery 2019-01-31 01594605 core:LandBuildings 2018-02-01 2019-01-31 01594605 core:PlantMachinery 2018-02-01 2019-01-31 01594605 core:WithinOneYear 2019-01-31 01594605 core:WithinOneYear 2018-01-31 01594605 core:AfterOneYear 2019-01-31 01594605 core:AfterOneYear 2018-01-31 01594605 core:LandBuildings core:OwnedOrFreeholdAssets 2019-01-31 01594605 core:LandBuildings core:OwnedOrFreeholdAssets 2018-01-31 01594605 core:ShareCapital 2019-01-31 01594605 core:ShareCapital 2018-01-31 01594605 core:RevaluationReserve 2019-01-31 01594605 core:RevaluationReserve 2018-01-31 01594605 core:RetainedEarningsAccumulatedLosses 2019-01-31 01594605 core:RetainedEarningsAccumulatedLosses 2018-01-31 01594605 core:LandBuildings 2018-01-31 01594605 core:PlantMachinery 2018-01-31 01594605 bus:SmallEntities 2018-02-01 2019-01-31 01594605 bus:AuditExemptWithAccountantsReport 2018-02-01 2019-01-31 01594605 bus:FullAccounts 2018-02-01 2019-01-31 01594605 bus:SmallCompaniesRegimeForAccounts 2018-02-01 2019-01-31 01594605 bus:PrivateLimitedCompanyLtd 2018-02-01 2019-01-31 01594605 core:LandBuildings core:OwnedOrFreeholdAssets 2018-02-01 2019-01-31

COMPANY REGISTRATION NUMBER: 01594605

The Lathkil Hotel Limited

Filleted Unaudited Financial Statements

31 January 2019

The Lathkil Hotel Limited

Statement of Financial Position

31 January 2019

	2019	2018
Note	£	£

Fixed assets

Tangible assets	5	683,386	620,690

Current assets

Stocks		11,382	10,854
Debtors	6	4,304	4,697
Cash at bank and in hand		10,872	13,315
		-------	-------
		26,558	28,866

Creditors: amounts falling due within one year	7	36,048	41,645
		-------	-------
Net current liabilities		9,490	12,779
		---------	---------
Total assets less current liabilities		673,896	607,911

Creditors: amounts falling due after more than one year	8	557,581	476,294
		---------	---------
Net assets		116,315	131,617
		---------	---------

Capital and reserves

Called up share capital	71,223	71,223
Revaluation reserve	185,356	191,536
Profit and loss account	( 140,264)	( 131,142)
	---------	---------
Shareholders funds	116,315	131,617
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 January 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

The Lathkil Hotel Limited

Statement of Financial Position (continued)

31 January 2019

These financial statements were approved by the board of directors and authorised for issue on 29 October 2019 , and are signed on behalf of the board by:

Miss A M Grigor-Taylor

Director

Company registration number: 01594605

The Lathkil Hotel Limited

Notes to the Financial Statements

Year ended 31 January 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lathkil Hotel, Over Haddon, Bakewell, Derbyshire, DE45 1JE.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover represents the amount derived from ordinary activities, excluding Value Added Tax.

Tangible assets

Fixed assets are initially recorded at cost with the exception of freehold property which is shown at an open market value.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% on cost or revalued amount of buildings only
Fixtures and equipment	-	Between 15% and 25 % on reducing balance
Motor vehicles	-	25% straight line

An amount equal to the excess of the annual depreciation charge on revalued assets over the original cost depreciation charge on those assets is transferred annually from the revaluation reserve to retained earnings.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 12 (2018: 12 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1 February 2018	656,528	70,620	9,950	737,098
Additions	71,456	–	–	71,456
Disposals	–	–	( 9,950)	( 9,950)
	---------	-------	------	---------
At 31 January 2019	727,984	70,620	–	798,604
	---------	-------	------	---------
Depreciation
At 1 February 2018	38,000	68,458	9,950	116,408
Charge for the year	8,000	760	–	8,760
Disposals	–	–	( 9,950)	( 9,950)
	---------	-------	------	---------
At 31 January 2019	46,000	69,218	–	115,218
	---------	-------	------	---------
Carrying amount
At 31 January 2019	681,984	1,402	–	683,386
	---------	-------	------	---------
At 31 January 2018	618,528	2,162	–	620,690
	---------	-------	------	---------

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold property
	£
At 31 January 2019
Aggregate cost	291,801
Aggregate depreciation	–
	---------
Carrying value	291,801
	---------

At 31 January 2018
Aggregate cost	220,344
Aggregate depreciation	–
	---------
Carrying value	220,344
	---------

6. Debtors

	2019	2018
	£	£
Other debtors	4,304	4,697
	------	------

7. Creditors: amounts falling due within one year

	2019	2018
	£	£
Bank loans and overdrafts	5,621	9,093
Trade creditors	20,375	19,424
Social security and other taxes	2,782	4,350
Other creditors	7,270	8,778
	-------	-------
	36,048	41,645
	-------	-------

Bank debts above totalling £5,621 (2018 - £9,093) are secured by a charge over the company's land and buildings.

8. Creditors: amounts falling due after more than one year

	2019	2018
	£	£
Bank loans and overdrafts	111,593	114,201
Other creditors	445,988	362,093
	---------	---------
	557,581	476,294
	---------	---------

Bank debts above totalling £111,593 (2018 - £114,201) are secured by a charge over the company's land and buildings.

Included within creditors: amounts falling due after more than one year is an amount of £89,109 (2018: £75,713) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

The monthly payments on the above debt amount to £1,010 per month and interest is charged at market rates.