Elms Hotels Limited - Accounts to registrar (filleted) - small 18.2
Elms Hotels Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 MAY 2020 TO 31 DECEMBER 2020 |
| FOR |
| ELMS HOTELS LIMITED |
| ELMS HOTELS LIMITED (REGISTERED NUMBER: 11944482) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| For The Period 1 May 2020 to 31 December 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| ELMS HOTELS LIMITED |
| COMPANY INFORMATION |
| For The Period 1 May 2020 to 31 December 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 31 High View Close |
| Hamilton Office Park |
| Leicester |
| Leicestershire |
| LE4 9LJ |
| ELMS HOTELS LIMITED (REGISTERED NUMBER: 11944482) |
| BALANCE SHEET |
| 31 December 2020 |
| 2020 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| 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 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| ( |
) | ( |
) |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| ELMS HOTELS LIMITED (REGISTERED NUMBER: 11944482) |
| NOTES TO THE FINANCIAL STATEMENTS |
| For The Period 1 May 2020 to 31 December 2020 |
| 1. | STATUTORY INFORMATION |
| Elms Hotels Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The financial statements have been prepared on a going concern basis as the directors do not envisage withdrawing their support and believe the company will have sufficient funds available to enable it to continue trading for at least one year from signing the balance sheet. |
| 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 |
| Improvements to property | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Depreciation has not been charged to the freehold property as the director believes that the property will maintain it's current value and may appreciate in value. |
| 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 period 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 period 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 period was |
| ELMS HOTELS LIMITED (REGISTERED NUMBER: 11944482) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Period 1 May 2020 to 31 December 2020 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| Freehold | to | and | Computer |
| property | property | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 May 2020 |
| Additions |
| At 31 December 2020 |
| DEPRECIATION |
| At 1 May 2020 |
| Charge for period |
| At 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 30 April 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2020 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2020 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 145,487 | 157,564 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2020 |
| £ | £ |
| Bank loans |
| The bank loan is secured by way of a fixed and floating charge over all the assets of the company including the property known as The Elms Hotel. |
| ELMS HOTELS LIMITED (REGISTERED NUMBER: 11944482) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Period 1 May 2020 to 31 December 2020 |
| 9. | RELATED PARTY DISCLOSURES |
| Included within other creditors is a director loan of £523,445 (2020: £394,747). This loan is interest free and repayable upon demand. |