The Rutland Arms Hotel (1998) Limited - Period Ending 2019-03-30
The Rutland Arms Hotel (1998) Limited - Period Ending 2019-03-30
Registration number:
The Rutland Arms Hotel (1998) Limited
for the Year Ended 30 March 2019
The Rutland Arms Hotel (1998) Limited
Contents
Abridged Balance Sheet |
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Notes to the Abridged Financial Statements |
The Rutland Arms Hotel (1998) Limited
(Registration number: 03525871)
Abridged Balance Sheet as at 30 March 2019
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2019 |
2018 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net liabilities |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Page 1 |
The Rutland Arms Hotel (1998) Limited
(Registration number: 03525871)
Abridged Balance Sheet as at 30 March 2019
For the financial year ending 30 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
Mrs H J Renshaw
Director
Mr C J Renshaw
Director
Page 2 |
The Rutland Arms Hotel (1998) Limited
Notes to the Abridged Financial Statements for the Year Ended 30 March 2019
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Statement of compliance
These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis. Of the company's liabilities at 30 March 2019 £2,316,520 is owed to the parent company, who have agreed not to demand repayment of this amount for at least one year after the date of the approval of these accounts to the extent that any such repayment would jeopardise the future of the company. The associated companies and directors have also agreed that they will continue to provide financial support for at least 12 months from the date of approval of these accounts.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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.
Page 3 |
The Rutland Arms Hotel (1998) Limited
Notes to the Abridged Financial Statements for the Year Ended 30 March 2019
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Land and buildings |
2% and 20% straight line |
Fixture, fittings and equipment |
20% reducing balance and 10%/20%/33% straight line |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
20% straight line |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods and work in progress 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, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 4 |
The Rutland Arms Hotel (1998) Limited
Notes to the Abridged Financial Statements for the Year Ended 30 March 2019
Intangible assets |
Total |
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Cost or valuation |
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At 31 March 2018 |
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At 30 March 2019 |
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Amortisation |
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At 31 March 2018 |
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At 30 March 2019 |
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Carrying amount |
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At 30 March 2019 |
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Tangible assets |
Total |
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Cost or valuation |
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At 31 March 2018 |
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Additions |
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At 30 March 2019 |
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Depreciation |
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At 31 March 2018 |
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Charge for the year |
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At 30 March 2019 |
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Carrying amount |
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At 30 March 2019 |
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At 30 March 2018 |
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Financial commitments, guarantees and contingencies |
The total amount of financial commitments not included in the balance sheet is £
Related party transactions |
Summary of transactions with parent
Page 5 |