Hull Holdings Limited - Accounts to registrar (filleted) - small 18.2
Hull Holdings Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| HULL HOLDINGS LIMITED |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 DECEMBER 2019 |
| HULL HOLDINGS LIMITED (REGISTERED NUMBER: 10365998) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 DECEMBER 2019 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 | to | 5 |
| HULL HOLDINGS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 DECEMBER 2019 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| 27-29 Lumley Avenue |
| Skegness |
| Lincolnshire |
| PE25 2AT |
| HULL HOLDINGS LIMITED (REGISTERED NUMBER: 10365998) |
| STATEMENT OF FINANCIAL POSITION |
| 30 DECEMBER 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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 |
| HULL HOLDINGS LIMITED (REGISTERED NUMBER: 10365998) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 DECEMBER 2019 |
| 1. | STATUTORY INFORMATION |
| Hull Holdings Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Investments in subsidiaries |
| Investments in subsidiaries are initially valued at cost and reviewed annually for signs of impairment. If an impairment loss is identified, this is recognised immediately in the income statement and the value of the investment is reduced accordingly. |
| Financial instruments |
| The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties and loans with related parties. |
| All financial assets and liabilities are initially measured at transaction price and are subsequently measured at amortised cost. |
| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the amount that the company would receive for the asset if it were to be sold at the statement of financial position date. |
| Going concern |
| Following the impact of COVID-19, the financial statements have been prepared on a going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this uncertain period. |
| The Covid-19 pandemic has bought unprecedented challenges to the economy and in particular the hospitality and leisure sector during the post balance sheet period. The Directors have acted swiftly to access the various government support packages available and reduce costs wherever possible. |
| The Directors are optimistic for the future of the group, given the provincial locations and lack of reliance on overseas travellers, and anticipate a return to growth once the pandemic is under control. |
| The company has made a loss for the year of £124,519 (2018: £137,777) and has net liabilities of £260,533 (2018: £136,014). The directors have ascertained that Brayford Hotels Holdings Limited, the ultimate parent undertaking, intends and has the ability to continue it's financial support to the company for a period of 12 months from the date of approval of these financial statements. The directors believe the company and wider group headed by Brayford Hotels Holdings Limited is well placed to manage the business risks successfully and will continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2018 - NIL). |
| HULL HOLDINGS LIMITED (REGISTERED NUMBER: 10365998) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 DECEMBER 2019 |
| 4. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 31 December 2018 |
| and 30 December 2019 |
| NET BOOK VALUE |
| At 30 December 2019 |
| At 30 December 2018 |
| 5. | DEBTORS |
| 2019 | 2018 |
| £ | £ |
| Amounts falling due within one year: |
| Other debtors |
| Amounts falling due after more than one year: |
| Amounts owed by group undertakings |
| Aggregate amounts |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans and overdrafts |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans |
| Amounts owed to group undertakings |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2019 | 2018 |
| £ | £ |
| Bank loans |
| The debt is secured upon the hotel property held by the subsidiary Ferensway Hotels Limited, unlimited inter company guarantees between the company, ultimate holding company and its subsidiaries. |
| HULL HOLDINGS LIMITED (REGISTERED NUMBER: 10365998) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 DECEMBER 2019 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| Ordinary | £1 | 1,000 | 1,000 |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 11. | POST BALANCE SHEET EVENTS |
| The Covid-19 pandemic has bought unprecedented challenges to the economy and in particular the hospitality and leisure sector during the post balance sheet period. The Directors have acted swiftly to access the various government support packages available and reduce costs wherever possible. The full impact of the pandemic is as yet unknown. |
| 12. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |