Dobies Cumbria Washington Central Hotel Limited - Period Ending 2014-10-31

Registration number: 05283593

Dobies Cumbria Washington Central Hotel Limited
 
  Unaudited Abbreviated Accounts
 
  for the Year Ended 31 October 2014
 

Dobies Cumbria Washington Central Hotel Limited
(Registration number: 05283593)
Abbreviated Balance Sheet at 31 October 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			1,199,985			1,018,757
Current assets
Stocks					13,750			13,750
Debtors					74,013			89,061
Cash at bank and in hand					1,266,316			1,050,645
					1,354,079			1,153,456
Creditors: Amounts falling due within one year					(397,213)			(154,265)
Net current assets					956,866			999,191
Total assets less current liabilities					2,156,851			2,017,948
Provisions for liabilities					(13,725)			(17,537)
Net assets					2,143,126			2,000,411
Capital and reserves
Called up share capital		3			1,000			1,000
Revaluation reserve					840,027			840,027
Profit and loss account					1,302,099			1,159,384
Shareholders' funds					2,143,126			2,000,411

For the year ending 31 October 2014 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 in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the Board on 14 July 2015 and signed on its behalf by:

.........................................
Mr W Dobie
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Dobies Cumbria Washington Central Hotel Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. It includes the relevant proportion of contract values where work is partially performed in the year.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Long leasehold land and buildings	Over the term of the lease
Investment properties	Nil
Fixtures and fittings	25% reducing balance basis

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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Dobies Cumbria Washington Central Hotel Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014
......... continued

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2013		1,327,881			1,327,881
Additions		221,866			221,866
At 31 October 2014		1,549,747			1,549,747
Depreciation
At 1 November 2013		309,124			309,124
Charge for the year		40,638			40,638
At 31 October 2014		349,762			349,762
Net book value
At 31 October 2014		1,199,985			1,199,985
At 31 October 2013		1,018,757			1,018,757

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		1,000			1,000			1,000			1,000

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