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

29 FEBRUARY 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

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

254,840

251,763

CURRENT ASSETS

Stocks

150

150

Debtors

5

492,913

770,683

Cash at bank and in hand

70,544

176,988

563,607

947,821

CREDITORS

Amounts falling due within one year

6

162,577

173,398

NET CURRENT ASSETS

401,030

774,423

TOTAL ASSETS LESS CURRENT LIABILITIES

655,870

1,026,186

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

540,850

911,166

SHAREHOLDERS' FUNDS

655,870

1,026,186

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 January 2021 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 Statement of

Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2019 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

At 1 March 2019

390,000

140,666

530,666

Additions

-

16,883

16,883

At 29 February 2020

390,000

157,549

547,549

DEPRECIATION

At 1 March 2019

156,000

122,903

278,903

Charge for year

7,800

6,006

13,806

At 29 February 2020

163,800

128,909

292,709

NET BOOK VALUE

At 29 February 2020

226,200

28,640

254,840

At 28 February 2019

234,000

17,763

251,763

5.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Intercompany debtor

432,193

770,683

Loan to third party

60,720

-

492,913

770,683

Included in debtors is an amount of £432,193 (2019 £770,683) due from Heatherslade Retirement

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

capital.

Also included in debtors is an amount of £60,720 which may not be recoverable within 12 months.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Tax

49,931

60,848

Social security and other taxes

8,158

9,609

Other creditors

91,920

89,733

Credit Card

2,715

2,412

Accrued expenses

9,853

10,796

162,577

173,398

7.

RESERVES

Revaluation

reserve

£

At 1 March 2019

and 29 February 2020

105,020

8.	RELATED PARTY DISCLOSURES

During the year dividends were paid to the holding company amounting to £480,000 (2019: £200,000).

At the year end there was a balance due from Heatherslade Retirement Home Limited of £432,193

(2019: £770,683)

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.

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Heatherslade Hotel Limited for the year ended 29 February 2020 which comprise

the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Heatherslade Hotel Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Heatherslade Hotel Limited and state those matters that we have agreed to state to the Board of Directors of Heatherslade Hotel Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Heatherslade Hotel Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Heatherslade Hotel Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Heatherslade Hotel Limited. You consider that Heatherslade Hotel Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Heatherslade Hotel Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Bevan Buckland LLP

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

5 January 2021