The Lynden Court Hotel Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 05889765 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

THE LYNDEN COURT HOTEL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R I Patel

Mr C R Patel

SECRETARY:

Mr R I Patel

REGISTERED OFFICE:

28 Rathbone Place

London

W1T 1JF

REGISTERED NUMBER:

05889765 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certifed Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Tangible assets

4

820,577

821,449

CURRENT ASSETS

Stocks

5

410

420

Debtors

6

1,467

1,012

Cash at bank and in hand

154,475

29,816

156,352

31,248

CREDITORS

Amounts falling due within one year

7

132,679

133,901

NET CURRENT ASSETS/(LIABILITIES)

23,673

(102,653

)

TOTAL ASSETS LESS CURRENT LIABILITIES

844,250

718,796

CREDITORS

Amounts falling due after more than one year

8

88,649

122,651

NET ASSETS

755,601

596,145

CAPITAL AND RESERVES

Called up share capital

9

400

400

Revaluation reserve

10

40,392

40,392

Retained earnings

714,809

555,353

SHAREHOLDERS' FUNDS

755,601

596,145

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 30 December 2022 and were signed on its behalf by:

Mr C R Patel - Director

1.	STATUTORY INFORMATION

The Lynden Court 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

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents invoiced accommodation services and is recognised at the date the service was provided. This is stated after trade discounts, other sales taxes and net of VAT.

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

-

not provided

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

The company's properties are held for long-term investment and are included in the Balance Sheet at their open market values. The surplus or deficit on revaluation of such properties are transferred to the investment property revaluation reserve. Depreciation is not provided in respect of freehold investment properties. This policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the Accounts may give a true and fair view because current values and changes in current values are prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the valuation and the amount which might otherwise have been shown cannot separately identified or quantified.

Government grants

Government grants represent income received in the form of the Job Retention Scheme (JRS), small business grant fund (SBGF) and the retail, hospitality and leisure grant fund (RHLG) received from the Government during the COVID-19 pandemic.

The grants are recognised on the accruals basis in the same period as the expenditure that it is expected to compensate for.

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

and

property

property

fittings

£

£

£

COST OR VALUATION

At 1 April 2021

794,740

5,000

158,694

Additions

-

-

4,313

At 31 March 2022

794,740

5,000

163,007

DEPRECIATION

At 1 April 2021

-

-

137,379

Charge for year

-

-

5,126

At 31 March 2022

-

-

142,505

NET BOOK VALUE

At 31 March 2022

794,740

5,000

20,502

At 31 March 2021

794,740

5,000

21,315

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 1 April 2021

1,500

2,514

962,448

Additions

-

-

4,313

At 31 March 2022

1,500

2,514

966,761

DEPRECIATION

At 1 April 2021

1,369

2,251

140,999

Charge for year

19

40

5,185

At 31 March 2022

1,388

2,291

146,184

NET BOOK VALUE

At 31 March 2022

112

223

820,577

At 31 March 2021

131

263

821,449

Cost or valuation at 31 March 2022 is represented by:

Improvements

Fixtures

Freehold

to

and

property

property

fittings

£

£

£

Valuation in 2008

40,392

-

-

Cost

754,348

5,000

163,007

794,740

5,000

163,007

Motor

Computer

vehicles

equipment

Totals

£

£

£

Valuation in 2008

-

-

40,392

Cost

1,500

2,514

926,369

1,500

2,514

966,761

If the freehold property had not been revalued it would have been included at the following historical cost:

31.3.22

31.3.21

£

£

Cost

754,348

754,348

Aggregate depreciation

75,435

75,435

The freehold property was valued on an open market basis on 31 March 2016 by the directors .

5.

STOCKS

31.3.22

31.3.21

£

£

Stocks

410

420

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Prepayments and accrued income

1,467

1,012

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade creditors

2,857

10,057

Tax

37,936

19,485

Social security and other taxes

1,270

5,745

Net wages

-

1,678

VAT

5,468

6,066

Other creditors

698

161

Amount due to related company

80,293

88,293

Pension

-

416

Accrued expenses

4,157

2,000

132,679

133,901

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Directors loan account

88,649

122,651

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.22

31.3.21

value:

£

£

400

Ordinary shares

£1

400

400

10.

RESERVES

Revaluation

reserve

£

At 1 April 2021

and 31 March 2022

40,392

11.	ULTIMATE CONTROLLING PARTY

The controlling party is the directors.