Rothay Manor Limited Filleted accounts for Companies House (small and micro)

ROTHAY MANOR LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09947332

Rothay Manor Limited

Filleted Unaudited Financial Statements

31 May 2022

Rothay Manor Limited

Financial Statements

Year ended 31 May 2022

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Rothay Manor Limited

Statement of Financial Position

31 May 2022

	2022		2021
Note	£	£	£

Current assets

Stocks		31,500	20,059
Debtors	6	81,589	46,794
Cash at bank and in hand		51,741	39,239
		-----------	-----------
		164,830	106,092

Creditors: amounts falling due within one year	7	( 322,495)		( 526,109)
		-----------		-----------
Net current liabilities			( 157,665)	( 420,017)
			-----------	-----------
Total assets less current liabilities			( 157,665)	( 420,017)

Creditors: amounts falling due after more than one year	8	( 30,000)	( 40,000)
		-----------	-----------
Net liabilities		( 187,665)	( 460,017)
		-----------	-----------

Rothay Manor Limited

Statement of Financial Position (continued)

31 May 2022

	2022		2021
Note	£	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 187,765)	( 460,117)
	-----------	-----------
Shareholders deficit	( 187,665)	( 460,017)
	-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 21 April 2023 , and are signed on behalf of the board by:

Mr JR Shail
Director

Company registration number: 09947332

Rothay Manor Limited

Notes to the Financial Statements

Year ended 31 May 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Rothay Manor Hotel, Rothay Bridge, Ambleside, Cumbria, LA22 0EH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Financial instruments

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost as detailed in notes. Prepayments are not financial instruments. Cash at bank - is classified as a basic financial instrument and is measured at face value. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost as detailed in notes. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Particulars of employees

The average number of persons employed by the company during the year amounted to 27 (2021: 25 ).

5. Going concern

The director considers that despite the negative balance on the statement of financial position the company will trade itself to profit with the continued support of the parent company.

6. Debtors

	2022	2021
	£	£
Other debtors	81,589	46,794
	---------	---------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	65,031	64,812
Amounts owed to group undertakings and undertakings in which the company has a participating interest	192,883	375,408
Social security and other taxes	11,326	45,228
Other creditors	43,255	30,661
	-----------	-----------
	322,495	526,109
	-----------	-----------

8. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	30,000	40,000
	---------	---------

The liability is payable over six years with an interest rate of 2.50% per annum, fixed for the duration of the repayment period.

9. Director's advances, credits and guarantees

During the year Mr J R Shail was advanced £2,232 (2021: £45,948), which was fully repaid within the year. Interest has been applied to the overdrawn loan account at the official rate of interest. During the year the interest charged £– (2021: £539).

10. Related party transactions

Included within creditors due within one year is a balance due to Freeport 1213 Ltd totalling £192,883 (2021: £77,716). The company operates from premises rented from the parent company Freeport 1213 Ltd. During the period rent totalling £60,000 (2021: £60,000). Rothay Manor Ltd is wholly owned by its parent company Freeport 1213 Ltd. The controlling interest in Freeport 1213 Ltd is held by Swiftbow Ltd, a company controlled by the Shail family. Included within creditors due within one year is a balance owed to Swiftbow Ltd totalling £– (2021: £297,692). No transactions with related parties were undertaken, other than disclosed in the notes, such as are required to be disclosed under the FRS102 Section 1A.