Heatherslade Hotel Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01341994 (England and Wales)

HEATHERSLADE HOTEL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

F H Jones

Miss E A Owen

SECRETARY:

Miss E A Owen

REGISTERED OFFICE:

C/O Bevan Buckland LLP

Langdon House

Langdon Road

Swansea

SA1 8QY

REGISTERED NUMBER:

01341994 (England and Wales)

ACCOUNTANTS:

Bevan Buckland LLP

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

SOLICITORS:

Simmonds Hurford

113 Walter Rd,

Swansea,

West Glamorgan

SA1 5QQ

FIXED ASSETS

Tangible assets

4

251,763

657,888

CURRENT ASSETS

Stocks

150

150

Debtors

5

770,683

542,654

Cash at bank and in hand

176,988

145

947,821

542,949

CREDITORS

Amounts falling due within one year

6

173,398

188,286

NET CURRENT ASSETS

774,423

354,663

TOTAL ASSETS LESS CURRENT LIABILITIES

1,026,186

1,012,551

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Revaluation reserve

7

105,020

105,020

Capital redemption reserve

5,000

5,000

Retained earnings

911,166

897,531

SHAREHOLDERS' FUNDS

1,026,186

1,012,551

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2019 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 22 November 2019 and were signed on its behalf by:

F H Jones - Director

1.	STATUTORY INFORMATION

Heatherslade Hotel 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

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.

Freehold property

-

2% on valuation

Fixtures and fittings

-

10 - 33.3% on cost

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 Income Statement,

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

Functional and presentation currency

The company's functional and presentation currency is pounds sterling.

Transition to FRS 102

These financial statements for the year ended 28 February 2017 are the first financial statements that

comply with FRS 102 Section 1A small entities. Transition adjustments that have arising and

transitional relief applied are stated in the notes to the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2018 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

At 1 March 2018

803,409

140,149

943,558

Additions

-

517

517

Disposals

(413,409

)

-

(413,409

)

At 28 February 2019

390,000

140,666

530,666

DEPRECIATION

At 1 March 2018

168,009

117,661

285,670

Charge for year

7,800

5,242

13,042

Eliminated on disposal

(19,809

)

-

(19,809

)

At 28 February 2019

156,000

122,903

278,903

NET BOOK VALUE

At 28 February 2019

234,000

17,763

251,763

At 28 February 2018

635,400

22,488

657,888

5.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Directors' loan accounts

-

9,253

Amounts falling due after more than one year:

Intercompany debtor

770,683

533,401

Aggregate amounts

770,683

542,654

Included in debtors is an amount of £770,683 (2018 £542,653) due from Heatherslade Retirement

Home Limited, the parent company in which Mr F Jones and Mrs E Owen own 100% of the share

capital.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

-

34,911

Tax

60,848

33,377

Social security and other taxes

9,609

9,810

Other creditors

89,733

108,005

Credit Card

2,412

2,183

Accrued expenses

10,796

-

173,398

188,286

7.

RESERVES

Revaluation

reserve

£

At 1 March 2018

and 28 February 2019

105,020

8.	RELATED PARTY DISCLOSURES

During the year dividends were paid to the holding company amounting to £200,000 (2018: £65,000).

At the year end there was a balance due from Heatherslade Retirement Home Limited of £770,683

(2018: £542,6530)

9.	ULTIMATE CONTROLLING PARTY

Mr F Jones and Mrs E Owen are considered to be the ultimate controlling party by virtue of them

holding 100% of the issued share capital of Heatherslade Retirement Home Limited, which holds 100%

of the issued share capital of the company.