West Lodge Hotel Limited - Accounts to registrar (filleted) - small 18.2
West Lodge Hotel Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 April 2021 |
| for |
| West Lodge Hotel Limited |
| West Lodge Hotel Limited (Registered number: 05338247) |
| Contents of the Financial Statements |
| FOR THE YEAR ENDED 30 APRIL 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| West Lodge Hotel Limited |
| Company Information |
| FOR THE YEAR ENDED 30 APRIL 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| The Stable Yard |
| Vicarage Road |
| Stony Stratford |
| Milton Keynes |
| Buckinghamshire |
| MK11 1BN |
| West Lodge Hotel Limited (Registered number: 05338247) |
| Balance Sheet |
| 30 APRIL 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| West Lodge Hotel Limited (Registered number: 05338247) |
| Balance Sheet - continued |
| 30 APRIL 2021 |
| 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 |
| West Lodge Hotel Limited (Registered number: 05338247) |
| Notes to the Financial Statements |
| FOR THE YEAR ENDED 30 APRIL 2021 |
| 1. | STATUTORY INFORMATION |
| West Lodge Hotel Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The directors have considered the impact of COVID-19 in relation to their assessment of going concern of the Company. In their opinion, they have taken all reasonable steps to mitigate these factors. |
| As at the point of authorising the accounts, and for the foreseeable future, the directors have determined that there is no material uncertainty that casts doubt on the entity's ability to continue as a going concern. Therefore, they consider the going concern assumption to still be appropriate. |
| The directors acknowledge that given the currently rapidly changing business and social environment, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the directors to represent a general inherent level of risk in relation to the going concern assumption albeit not quantifiable at this time. |
| 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 |
| Freehold property | - |
| Improvements to property | - |
| Plant & machinery | - |
| Fixtures and fittings | - |
| Government grants |
| Coronavirus support grants |
| All Covid-19 related support grants have been recognised under the performance model. Revenue on |
| grants is recognised once all performance conditions have been met in full. |
| West Lodge Hotel Limited (Registered number: 05338247) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 30 APRIL 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument. |
| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| Basic Financial Assets |
| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
| Classification of financial liabilities |
| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
| Basic financial liabilities |
| Basic financial liabilities, including creditors and loans from related companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
| Debt instruments are subsequently carried at amortised costs, using the effective interest rate method. |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
| 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. |
| West Lodge Hotel Limited (Registered number: 05338247) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 30 APRIL 2021 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 May 2020 |
| Additions |
| At 30 April 2021 |
| DEPRECIATION |
| At 1 May 2020 |
| Charge for year |
| At 30 April 2021 |
| NET BOOK VALUE |
| At 30 April 2021 |
| At 30 April 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts (see note 8) |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans (see note 8) |
| Other creditors |
| West Lodge Hotel Limited (Registered number: 05338247) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 30 APRIL 2021 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 2021 | 2020 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank Loan 1 > 5 yrs | 40,497 | 61,280 |
| Business loan > 5 yrs | 40,000 | 44,000 |
| 80,497 | 105,280 |
| 8. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2021 | 2020 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank Loan 1 < 1 yr |
| Bank Loan 2 < 1 yr | 2,745 | 2,705 |
| Business loan <1 yr |
| Amounts falling due between one and two years: |
| Bank Loan 1 1-5 yrs |
| Bank Loan 2 1-5 yrs | 697 | 3,652 |
| Business loan 1-5 yrs | 96,000 |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank Loan 1 > 5 yrs | 40,497 | 61,280 |
| Business loan > 5 yrs | 40,000 | 44,000 |
| 80,497 | 105,280 |
| £137,158 of the loan balances outstanding at the balance sheet date are secured by fixed and floating charges over the freehold property to which it relates. |
| £160,000 of the loan balances outstanding at the balance sheet are secured by fixed and floating charges over the freehold hand to which it relates. |
| £3,441 of the loan balances at outstanding at the balance sheet date is secured by fixed and floating charges of all assets of the company. |