Tollgate Hotel & Leisure Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01421312 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

FOR

TOLLGATE HOTEL & LEISURE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G W Oldfield

Mrs G M Oldfield

A Oldfield

SECRETARY:

Mrs G M Oldfield

REGISTERED OFFICE:

Ripon Road

Blurton

Stoke on Trent

Staffordshire

ST3 3BS

REGISTERED NUMBER:

01421312 (England and Wales)

FIXED ASSETS

Tangible assets

4

1,650,843

1,662,355

CURRENT ASSETS

Stocks

8,340

7,100

Debtors

5

6,759

8,644

Cash at bank and in hand

19,260

53,371

34,359

69,115

CREDITORS

Amounts falling due within one year

6

273,805

277,481

NET CURRENT LIABILITIES

(239,446

)

(208,366

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,411,397

1,453,989

CREDITORS

Amounts falling due after more than one year

7

(148,600

)

(168,573

)

PROVISIONS FOR LIABILITIES

(24,416

)

(28,597

)

NET ASSETS

1,238,381

1,256,819

CAPITAL AND RESERVES

Called up share capital

201,002

201,002

Share premium

50,000

50,000

Revaluation reserve

9

975,169

975,169

Retained earnings

12,210

30,648

SHAREHOLDERS' FUNDS

1,238,381

1,256,819

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 31 January 2020 and were signed on its behalf by:

Mrs G M Oldfield - Director

G W Oldfield - Director

A Oldfield - Director

1.	STATUTORY INFORMATION

Tollgate Hotel & Leisure 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied.

Tangible fixed assets

Depreciation of fixed assets is calculated at the following rates so as to write off the cost of the assets over their expected remaining useful

life:

Fixtures, Plant & Equipment

-

10% on the reducing balance method

Motor Vehicles

-

25% on the reducing balance method

Hotel Furniture

-

10% on the reducing balance method

Freehold Land and Buildings

-

No Depreciation

Freehold buildings are depreciated to write down the cost less estimated

residual value over their remaining useful life by equal annual

instalments. Where buildings are maintained to such a standard that their

estimated residual value is not less than their cost or valuation, no

depreciation is charged as it is not material.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2018 - 34 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Freehold

Hotel

property

Land

Furniture

£

£

£

COST OR VALUATION

At 1 October 2018

1,350,000

150,000

145,683

At 30 September 2019

1,350,000

150,000

145,683

DEPRECIATION

At 1 October 2018

40,500

-

126,274

Charge for year

-

-

1,941

At 30 September 2019

40,500

-

128,215

NET BOOK VALUE

At 30 September 2019

1,309,500

150,000

17,468

At 30 September 2018

1,309,500

150,000

19,409

Equipment

and

Motor

Fixtures

vehicles

Totals

£

£

£

COST OR VALUATION

At 1 October 2018

696,835

30,595

2,373,113

Additions

10,959

-

10,959

At 30 September 2019

707,794

30,595

2,384,072

DEPRECIATION

At 1 October 2018

520,649

23,335

710,758

Charge for year

18,715

1,815

22,471

At 30 September 2019

539,364

25,150

733,229

NET BOOK VALUE

At 30 September 2019

168,430

5,445

1,650,843

At 30 September 2018

176,186

7,260

1,662,355

Cost or valuation at 30 September 2019 is represented by:

Freehold

Freehold

Hotel

property

Land

Furniture

£

£

£

Valuation in 2006

20,585

-

-

Valuation in 2007

585,245

94,558

-

Cost

744,170

55,442

145,683

1,350,000

150,000

145,683

Equipment

and

Motor

Fixtures

vehicles

Totals

£

£

£

Valuation in 2006

-

-

20,585

Valuation in 2007

-

-

679,803

Cost

707,794

30,595

1,683,684

707,794

30,595

2,384,072

If Freehold land and property had not been revalued they would have been included at the following historical cost:

2019

2018

£

£

Cost

799,612

799,612

Value of land in freehold land and buildings

55,442

55,442

Freehold land and property were valued on an open market basis on 30 June 2015 by the directors. .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

4,184

6,204

Other debtors

2,575

2,440

6,759

8,644

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

24,100

24,024

Trade creditors

10,927

9,673

Taxation and social security

34,743

36,840

Other creditors

204,035

206,944

273,805

277,481

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

148,600

168,573

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

52,504

72,477

8.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

172,624

192,597

The bank loans are secured by means of a fixed and floating charge over the assets of the company.

9.

RESERVES

Revaluation

reserve

£

At 1 October 2018

and 30 September 2019

975,169