The Augustus Hotel (Bham) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05708474 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2019

FOR

THE AUGUSTUS HOTEL (BHAM) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R S Sandhar

J S Pahal

REGISTERED OFFICE:

Harpal House

14 Holyhead Road

Handsworth

Birmingham

West Midlands

B21 0LT

REGISTERED NUMBER:

05708474 (England and Wales)

FIXED ASSETS

Intangible assets

4

111,000

114,000

Tangible assets

5

3,023,385

3,055,607

3,134,385

3,169,607

CURRENT ASSETS

Stocks

6

12,866

11,961

Debtors

7

9,796

23,524

Cash at bank and in hand

86,895

108,378

109,557

143,863

CREDITORS

Amounts falling due within one year

8

1,050,271

1,090,429

NET CURRENT LIABILITIES

(940,714

)

(946,566

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,193,671

2,223,041

CREDITORS

Amounts falling due after more than one year

9

1,160,539

1,227,102

NET ASSETS

1,033,132

995,939

CAPITAL AND RESERVES

Called up share capital

12

1,000

1,000

Revaluation reserve

13

43,561

43,561

Retained earnings

13

988,571

951,378

SHAREHOLDERS' FUNDS

1,033,132

995,939

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 and authorised for issue on 27 October 2020 and were signed on its behalf by:

R S Sandhar - Director

1.	STATUTORY INFORMATION

The Augustus Hotel (Bham) 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

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of fifty years.

Intangible assets

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.

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

-

not provided

Improvements to property

-

2% on cost

Fixtures and fittings

-

10% on reducing balance

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 32 (2018 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2018

and 31 October 2019

150,000

AMORTISATION

At 1 November 2018

36,000

Amortisation for year

3,000

At 31 October 2019

39,000

NET BOOK VALUE

At 31 October 2019

111,000

At 31 October 2018

114,000

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

and

property

property

fittings

Totals

£

£

£

£

COST OR VALUATION

At 1 November 2018

2,068,142

764,997

884,520

3,717,659

Additions

-

-

18,964

18,964

At 31 October 2019

2,068,142

764,997

903,484

3,736,623

DEPRECIATION

At 1 November 2018

-

117,433

544,619

662,052

Charge for year

-

15,300

35,886

51,186

At 31 October 2019

-

132,733

580,505

713,238

NET BOOK VALUE

At 31 October 2019

2,068,142

632,264

322,979

3,023,385

At 31 October 2018

2,068,142

647,564

339,901

3,055,607

Cost or valuation at 31 October 2019 is represented by:

Improvements

Fixtures

Freehold

to

and

property

property

fittings

Totals

£

£

£

£

Valuation in 2010

43,561

-

-

43,561

Cost

2,024,581

764,997

903,484

3,693,062

2,068,142

764,997

903,484

3,736,623

If freehold land and buildings had not been revalued they would have been included at the following historical

cost:

31/10/19

31/10/18

£

£

Cost

2,024,581

2,024,581

Value of land in freehold land and buildings

2,024,581

2,024,581

Freehold land and buildings were valued on open market basis on 17 February 2010 by Taylors Business Surveyors & Valuers Ltd

.

6.

STOCKS

31/10/19

31/10/18

£

£

Stocks

12,866

11,961

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/19

31/10/18

£

£

Trade debtors

-

16,924

Prepayments

9,796

6,600

9,796

23,524

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/19

31/10/18

£

£

Trade creditors

61,664

66,560

Tax

44,063

37,216

Social security and other taxes

39,743

32,206

VAT

38,836

48,899

Deferred income and advances

7,449

7,889

Shareholders loan accounts

408,860

450,860

RBS Credit Card

1,472

-

Wages Control

53,634

54,135

Nest Pensions

1,886

-

Directors' current accounts

389,613

389,613

Accrued expenses

3,051

3,051

1,050,271

1,090,429

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/10/19

31/10/18

£

£

Bank loans (see note 10)

1,160,539

1,227,102

10.

LOANS

An analysis of the maturity of loans is given below:

31/10/19

31/10/18

£

£

Amounts falling due between one and two years:

RBS Loan

1,160,539

1,227,102

11.	SECURED DEBTS

The following secured debts are included within creditors:

31/10/19

31/10/18

£

£

Bank loans

1,160,539

1,227,102

The bank borrowing is secured by:

1. 1st Legal charge -Granted by Augustus Hotel (BHAM) Limited -is secured against the Edgbaston Palace

Hotel, 198-200 Hagley Road, Birmingham and its associated assets.(Freehold Property)

2. 1st Legal charge -Granted by Augustus Hotel (BHAM) Limited- is secured against the Edgbaston Palace

Hotel, 202 Hagley Road, Birmingham and its associated assets.

3. Debentures -Granted by Augustus Hotel (BHAM) Limited .

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/10/19

31/10/18

value:

£

£

1,000

Ordinary

£1

1,000

1,000

13.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 November 2018

951,378

43,561

994,939

Profit for the year

37,193

37,193

At 31 October 2019

988,571

43,561

1,032,132