The Lynden Court Hotel Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05889765 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

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 Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Tangible assets

4

821,449

826,846

CURRENT ASSETS

Stocks

5

420

1,860

Debtors

6

1,012

1,466

Cash at bank and in hand

29,816

1,553

31,248

4,879

CREDITORS

Amounts falling due within one year

7

133,901

171,565

NET CURRENT LIABILITIES

(102,653

)

(166,686

)

TOTAL ASSETS LESS CURRENT LIABILITIES

718,796

660,160

CREDITORS

Amounts falling due after more than one year

8

122,651

125,051

NET ASSETS

596,145

535,109

CAPITAL AND RESERVES

Called up share capital

10

400

400

Revaluation reserve

11

40,392

40,392

Retained earnings

555,353

494,317

SHAREHOLDERS' FUNDS

596,145

535,109

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 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 31 December 2021 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.

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 (2020 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

and

property

property

fittings

£

£

£

COST OR VALUATION

At 1 April 2020

and 31 March 2021

794,740

5,000

158,694

DEPRECIATION

At 1 April 2020

-

-

132,051

Charge for year

-

-

5,328

At 31 March 2021

-

-

137,379

NET BOOK VALUE

At 31 March 2021

794,740

5,000

21,315

At 31 March 2020

794,740

5,000

26,643

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 1 April 2020

and 31 March 2021

1,500

2,514

962,448

DEPRECIATION

At 1 April 2020

1,346

2,205

135,602

Charge for year

23

46

5,397

At 31 March 2021

1,369

2,251

140,999

NET BOOK VALUE

At 31 March 2021

131

263

821,449

At 31 March 2020

154

309

826,846

Cost or valuation at 31 March 2021 is represented by:

Improvements

Fixtures

Freehold

to

and

property

property

fittings

£

£

£

Valuation in 2008

40,392

-

-

Cost

754,348

5,000

158,694

794,740

5,000

158,694

Motor

Computer

vehicles

equipment

Totals

£

£

£

Valuation in 2008

-

-

40,392

Cost

1,500

2,514

922,056

1,500

2,514

962,448

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

31.3.21

31.3.20

£

£

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

31.3.21

31.3.20

£

£

Stocks

420

1,860

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Prepayments and accrued income

1,012

1,466

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans and overdrafts

-

49,643

Trade creditors

10,057

8,816

Tax

19,485

11,600

Social security and other taxes

5,745

334

Net wages

1,678

-

VAT

6,066

9,798

Other creditors

161

240

Amount due to related company

88,293

88,293

Pension

416

141

Accrued expenses

2,000

2,700

133,901

171,565

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Directors loan account

122,651

125,051

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.21

31.3.20

£

£

Bank loans

-

42,695

The loan is secured by a debenture and a legal charge on the company's property.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.21

31.3.20

value:

£

£

400

Ordinary shares

£1

400

400

11.

RESERVES

Revaluation

reserve

£

At 1 April 2020

and 31 March 2021

40,392

12.	ULTIMATE CONTROLLING PARTY

The controlling party is the directors.