The Hotel Victoria Lowestoft Ltd Filleted accounts for Companies House (small and micro)

THE HOTEL VICTORIA LOWESTOFT LTD - Company Information

58 false false false false false false false false false true false false false false false false No description of principal activity 2021-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 37,470 40,000 322 77,148 346 346 77,494 37,470 xbrli:pure xbrli:shares iso4217:GBP 10491445 2021-04-01 2022-03-31 10491445 2022-03-31 10491445 2021-03-31 10491445 2020-04-01 2021-03-31 10491445 2021-03-31 10491445 core:LandBuildings 2021-04-01 2022-03-31 10491445 core:PlantMachinery 2021-04-01 2022-03-31 10491445 bus:Director1 2021-04-01 2022-03-31 10491445 core:LandBuildings 2021-03-31 10491445 core:PlantMachinery 2021-03-31 10491445 core:LandBuildings 2022-03-31 10491445 core:PlantMachinery 2022-03-31 10491445 core:WithinOneYear 2022-03-31 10491445 core:WithinOneYear 2021-03-31 10491445 core:AfterOneYear 2022-03-31 10491445 core:AfterOneYear 2021-03-31 10491445 core:ShareCapital 2022-03-31 10491445 core:ShareCapital 2021-03-31 10491445 core:RetainedEarningsAccumulatedLosses 2022-03-31 10491445 core:RetainedEarningsAccumulatedLosses 2021-03-31 10491445 core:MoreThanFiveYears 2022-03-31 10491445 core:MoreThanFiveYears 2021-03-31 10491445 core:CostValuation core:Non-currentFinancialInstruments 2021-03-31 10491445 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2022-03-31 10491445 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2022-03-31 10491445 core:CostValuation core:Non-currentFinancialInstruments 2022-03-31 10491445 core:FurtherSpecificIncreaseDecreaseInProvisionsForImpairmentInvestments1ComponentCorrespondingTotal core:Non-currentFinancialInstruments 2022-03-31 10491445 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2022-03-31 10491445 core:Non-currentFinancialInstruments 2022-03-31 10491445 core:Non-currentFinancialInstruments 2021-03-31 10491445 core:LandBuildings 2021-03-31 10491445 core:PlantMachinery 2021-03-31 10491445 bus:SmallEntities 2021-04-01 2022-03-31 10491445 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 10491445 bus:FullAccounts 2021-04-01 2022-03-31 10491445 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 10491445 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31

COMPANY REGISTRATION NUMBER: 10491445

The Hotel Victoria Lowestoft Ltd

Unaudited financial statements

For the year ended

31 March 2022

The Hotel Victoria Lowestoft Ltd

Statement of financial position

31 March 2022

	2022		2021
Note	£	£	£	£

Fixed assets

Tangible assets	5	48,315	46,356
Investments	6	77,494	37,470
		---------	-------
		125,809	83,826

Current assets

Stocks		7,810	2,600
Debtors	7	164,273	23,817
Cash at bank and in hand		247,410	250,348
		---------	---------
		419,493	276,765

Creditors: Amounts falling due within one year	8	( 226,383)		( 160,638)
		---------		---------
Net current assets			193,110		116,127
			---------		---------
Total assets less current liabilities			318,919		199,953

Creditors: Amounts falling due after more than one year	9		( 67,423)		( 96,965)

Provisions

Taxation including deferred tax	( 8,321)	( 7,931)
	---------	---------
Net assets	243,175	95,057
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	243,075	94,957
	---------	-------
Shareholders funds	243,175	95,057
	---------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

The Hotel Victoria Lowestoft Ltd

Statement of financial position (continued)

31 March 2022

These financial statements were approved by the board of directors and authorised for issue on 20 December 2022 , and are signed on behalf of the board by:

Mr A Greenfield
Director

Company registration number: 10491445

The Hotel Victoria Lowestoft Ltd

Notes to the financial statements

Year ended 31 March 2022

1. General information

The company's trading address is Kirkley Cliff Road, Lowestoft, NR33 0BZ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property improvements	-	2% reducing balance
Plant and machinery	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of employees during the year was 58 (2021: 33 ).

5. Tangible assets

	Leasehold property improve- ments	Plant and machinery	Total
	£	£	£
Cost
At 1 April 2021	24,252	43,311	67,563
Additions	–	8,924	8,924
	-------	-------	-------
At 31 March 2022	24,252	52,235	76,487
	-------	-------	-------
Depreciation
At 1 April 2021	675	20,532	21,207
Charge for the year	472	6,493	6,965
	-------	-------	-------
At 31 March 2022	1,147	27,025	28,172
	-------	-------	-------
Carrying amount
At 31 March 2022	23,105	25,210	48,315
	-------	-------	-------
At 31 March 2021	23,577	22,779	46,356
	-------	-------	-------

6. Investments

	Other investments other than loans
	£
Cost
At 1 April 2021	37,470
Additions	40,000
Disposals	( 322)
	-------
At 31 March 2022	77,148
	-------
Impairment
At 1 April 2021	–
Revaluations	( 346)
	-------
At 31 March 2022	( 346)
	-------

Carrying amount
At 31 March 2022	77,494
	-------
At 31 March 2021	37,470
	-------

7. Debtors

	2022	2021
	£	£
Trade debtors	–	536
Other debtors	164,273	23,281
	---------	-------
	164,273	23,817
	---------	-------

8. Creditors: Amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	21,200	18,166
Trade creditors	19,305	5,778
Social security and other taxes	62,808	23,440
Other creditors	123,070	113,254
	---------	---------
	226,383	160,638
	---------	---------

9. Creditors: Amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	67,423	96,965
	-------	-------

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2022	2021
	£	£
Later than 5 years	404,239	394,447
	---------	---------