Park Hall Hotel (Wolverhampton) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09681087

Financial Statements

for the Year Ended 31 March 2021

for

PARK HALL HOTEL (WOLVERHAMPTON) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Angela Bir

REGISTERED OFFICE:

Park Drive

Goldthorne Park

Wolverhampton

West Midlands

WV4 5AJ

REGISTERED NUMBER:

09681087

AUDITORS:

Brindleys Limited

Statutory Auditors

2 Wheeleys Road

Edgbaston

Birmingham

West Midlands

B15 2LD

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,647,410

1,871,466

1,647,410

1,871,466

CURRENT ASSETS

Stocks

18,211

35,884

Debtors

6

91,935

156,233

Cash at bank and in hand

4,303

3,624

114,449

195,741

CREDITORS

Amounts falling due within one year

7

1,244,163

1,513,773

NET CURRENT LIABILITIES

(1,129,714

)

(1,318,032

)

TOTAL ASSETS LESS CURRENT LIABILITIES

517,696

553,434

CREDITORS

Amounts falling due after more than one year

8

(2,055,190

)

(1,671,994

)

PROVISIONS FOR LIABILITIES

(159,554

)

-

NET LIABILITIES

(1,697,048

)

(1,118,560

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(1,697,148

)

(1,118,660

)

SHAREHOLDERS' FUNDS

(1,697,048

)

(1,118,560

)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 December 2021 and were signed by:

Angela Bir - Director

1.	STATUTORY INFORMATION

Park Hall Hotel (Wolverhampton) Ltd is a private company, limited by shares , registered in Not specified/Other. 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 Income Statement, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 110 (2020 - 156 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

7

AMORTISATION

At 1 April 2020

and 31 March 2021

7

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2020

228,582

2,965,165

3,193,747

Additions

-

26,325

26,325

At 31 March 2021

228,582

2,991,490

3,220,072

DEPRECIATION

At 1 April 2020

-

1,322,281

1,322,281

Charge for year

-

250,381

250,381

At 31 March 2021

-

1,572,662

1,572,662

NET BOOK VALUE

At 31 March 2021

228,582

1,418,828

1,647,410

At 31 March 2020

228,582

1,642,884

1,871,466

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

32,420

70,568

Other debtors

59,515

85,665

91,935

156,233

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

224,135

102,720

Trade creditors

119,017

299,845

Taxation and social security

170,619

129,254

Other creditors

730,392

981,954

1,244,163

1,513,773

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

50,000

-

Amounts owed to group undertakings

753,962

677,766

Other creditors

1,251,228

994,228

2,055,190

1,671,994

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kulwinder Singh Chawla F.C.C.A. (Senior Statutory Auditor)

for and on behalf of Brindleys Limited

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2021 and 31 March 2020:

2021

2020

£

£

Angela Bir

Balance outstanding at start of year

1,333

(670

)

Amounts advanced

2,483

2,003

Amounts repaid

(1,333

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,483

1,333

11.	RELATED PARTY DISCLOSURES

Long Term Liabilities

These are related party transactions

Park Hall Hotel (Holdings) Ltd £753,962 (£677,766 in 2020)

BIR Holdings Ltd £1,251,228 (£994,228 in 2020)

12.	POST BALANCE SHEET EVENTS

Covid 19 has seriously affected the hotel industry within the UK.

The Directors with the ongoing support of the shareholders are confident that Park Hall Hotel (Wolverhampton) Ltd, will continue to be a going concern for the foreseeable future.