SKYLANE HOTEL LIMITED

SKYLANE HOTEL LIMITED

SKYLANE HOTEL LIMITED - Company Information

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SKYLANE HOTEL LIMITED

Company Registration Number:
00874526 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2019

Period of accounts

Start date: 1 April 2018

End date: 31 March 2019

SKYLANE HOTEL LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2019

Profit and loss
Balance sheet
Additional notes
Balance sheet notes

SKYLANE HOTEL LIMITED

Profit And Loss Account

for the Period Ended 31 March 2019

2019 2018


£
£
Turnover: 1,882,109 1,997,843
Cost of sales: ( 1,438,602 ) ( 1,496,362 )
Gross profit(or loss): 443,507 501,481
Administrative expenses: ( 884,358 ) ( 859,506 )
Operating profit(or loss): (440,851) (358,025)
Interest receivable and similar income: 9,235 9,300
Interest payable and similar charges: 0 ( 31 )
Profit(or loss) before tax: (431,616) (348,756)
Profit(or loss) for the financial year: (431,616) (348,756)

SKYLANE HOTEL LIMITED

Balance sheet

As at 31 March 2019

Notes 2019 2018


£
£
Fixed assets
Intangible assets: 2 1 1
Tangible assets: 3 6,513,396 6,661,763
Total fixed assets: 6,513,397 6,661,764
Current assets
Stocks: 4 25,000 25,993
Debtors: 5 465,289 492,914
Cash at bank and in hand: 71,127 75,113
Investments: 6 0 462,753
Total current assets: 561,416 1,056,773
Creditors: amounts falling due within one year: 7 ( 293,202 ) ( 356,943 )
Net current assets (liabilities): 268,214 699,830
Total assets less current liabilities: 6,781,611 7,361,594
Provision for liabilities: ( 425,303 ) ( 425,303 )
Total net assets (liabilities): 6,356,308 6,936,291
Capital and reserves
Called up share capital: 1,000 1,000
Other reserves: 3,116,852 3,116,852
Profit and loss account: 3,238,456 3,818,439
Total Shareholders' funds: 6,356,308 6,936,291

The notes form part of these financial statements

SKYLANE HOTEL LIMITED

Balance sheet statements

For the year ending 31 March 2019 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.

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

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

This report was approved by the board of directors on 30 January 2020
and signed on behalf of the board by:

Name: B G Stewart
Status: Director

The notes form part of these financial statements

SKYLANE HOTEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

  • 1. Accounting policies

    Basis of measurement and preparation

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

    Turnover policy

    Turnover comprises hotel and event services, excluding value added tax. Investment property rental income is disclosed as other operating income.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual ratesLand and Property 2% on costPlant and Machinery 15% on reducing balanceFixtures and Fittings 15% on reducing balanceLand and buildings include freehold hotels an entertainment venues, and are carried at their revalued amounts.Vehicles and machinery are carried at cost less accumulated depreciation and impairment losses.Land is not depreciated.

    Intangible fixed assets amortisation policy

    Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses

SKYLANE HOTEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

2. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 April 2018 199,998 199,998
Additions
Disposals
Revaluations
Transfers
At 31 March 2019 199,998 199,998
Amortisation
At 1 April 2018 199,997 199,997
Charge for year
On disposals
Other adjustments
At 31 March 2019 199,997 199,997
Net book value
At 31 March 2019 1 1
At 31 March 2018 1 1

SKYLANE HOTEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2018 6,548,494 35,332 73,873 0 4,064 6,661,763
Additions
Disposals
Revaluations
Transfers
At 31 March 2019 6,548,494 35,332 73,873 0 4,064 6,661,763
Depreciation
At 1 April 2018 0 0 0 0 0 0
Charge for year 130,970 5,300 11,081 1,016 148,367
On disposals
Other adjustments
At 31 March 2019 130,970 5,300 11,081 0 1,016 148,367
Net book value
At 31 March 2019 6,417,524 30,032 62,792 0 3,048 6,513,396
At 31 March 2018 6,548,494 35,332 73,873 0 4,064 6,661,763

SKYLANE HOTEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

4. Stocks

2019 2018
£ £
Stocks 25,000 25,993
Total 25,000 25,993

SKYLANE HOTEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

5. Debtors

2019 2018
£ £
Trade debtors 75,507 72,841
Prepayments and accrued income 36,064 31,650
Other debtors 353,718 388,423
Total 465,289 492,914

SKYLANE HOTEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

6. Current assets investments note

.

SKYLANE HOTEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

7. Creditors: amounts falling due within one year note

2019 2018
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 70,081 112,184
Taxation and social security 41,917 61,425
Accruals and deferred income 26,364 19,563
Other creditors 154,840 163,771
Total 293,202 356,943