Porchester Hotel Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00201602 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

PORCHESTER HOTEL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M S Hilton

SECRETARY:

A M S Innes-Ker

REGISTERED OFFICE:

Portsdown

Faris Lane

Woodham

Surrey

KT15 3DL

REGISTERED NUMBER:

00201602 (England and Wales)

ACCOUNTANTS:

Brayne, Williams & Barnard Limited

Rosemount House

Rosemount Avenue

West Byfleet

Surrey

KT14 6LB

FIXED ASSETS

Tangible assets

4

27

34

Investment property

5

1,283,333

600,000

1,283,360

600,034

CURRENT ASSETS

Investments

6

136,063

104,231

Cash at bank

13,391

12,641

149,454

116,872

CREDITORS

Amounts falling due within one year

7

178,194

134,612

NET CURRENT LIABILITIES

(28,740

)

(17,740

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,254,620

582,294

PROVISIONS FOR LIABILITIES

160,344

30,538

NET ASSETS

1,094,276

551,756

CAPITAL AND RESERVES

Called up share capital

8

2,000

2,000

Retained earnings

1,092,276

549,756

SHAREHOLDERS' FUNDS

1,094,276

551,756

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 December 2021 and were signed by:

M S Hilton - Director

1.	STATUTORY INFORMATION

Porchester 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Investment property

The investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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 material 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.

Deferred tax has been provided on the revaluation of the investment property.

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction cost. Subsequently they are measured at fair value with changes recognised in gains/(losses) on investments if the shares are publicly traded or their fair value can otherwise be measured reliably.

3.

EMPLOYEES

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2020

and 31 March 2021

2,265

DEPRECIATION

At 1 April 2020

2,231

Charge for year

7

At 31 March 2021

2,238

NET BOOK VALUE

At 31 March 2021

27

At 31 March 2020

34

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

600,000

Revaluations

683,333

At 31 March 2021

1,283,333

NET BOOK VALUE

At 31 March 2021

1,283,333

At 31 March 2020

600,000

Fair value at 31 March 2021 is represented by:

£

Valuation in 2017

349,323

Valuation in 2021

683,333

Cost

250,677

1,283,333

6.	CURRENT ASSET INVESTMENTS

31.3.21

31.3.20

£

£

Listed investments

136,063

104,231

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Other creditors

178,194

134,612

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.21

31.3.20

value:

£

£

839

Ordinary A

£1

839

839

250

Ordinary B

£1

250

250

137

Ordinary C

£1

137

137

250

Ordinary D

£1

250

250

137

Ordinary E

£1

137

137

250

Ordinary F

£1

250

250

137

Ordinary G

£1

137

137

2,000

2,000

9.	RELATED PARTY DISCLOSURES

At the year end the company owed the director £56,844 (2020 - £31,532). The loan is interest free and repayable on demand.

10.

RESERVES

Included within the total retained earnings reserve balance of £1,092,276 are non distributable reserves of £887,888.