Tivoli Inns (Cardiff) Limited - Accounts to registrar (filleted) - small 23.1

REGISTERED NUMBER: 09886179 (England and Wales)

TIVOLI INNS (CARDIFF) LIMITED

Unaudited Financial Statements

for the Year Ended 31 October 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T E Stringer

P M Pioli

SECRETARY:

Mrs H R Pioli

REGISTERED OFFICE:

The Riding School House

Bulls Lane

Wishaw

Sutton Coldfield

West Midlands

B76 9QW

REGISTERED NUMBER:

09886179 (England and Wales)

FIXED ASSETS

Tangible assets

4

333,870

192,201

CURRENT ASSETS

Stocks

21,197

17,702

Debtors

5

51,638

35,790

Cash at bank and in hand

290,366

355,903

363,201

409,395

CREDITORS

Amounts falling due within one year

6

599,830

430,412

NET CURRENT LIABILITIES

(236,629

)

(21,017

)

TOTAL ASSETS LESS CURRENT LIABILITIES

97,241

171,184

CREDITORS

Amounts falling due after more than one year

7

(27,625

)

(38,731

)

PROVISIONS FOR LIABILITIES

(59,978

)

(32,302

)

NET ASSETS

9,638

100,151

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

9,637

100,150

SHAREHOLDERS' FUNDS

9,638

100,151

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 June 2023 and were signed on its behalf by:

P M Pioli - Director

T E Stringer - Director

1.	STATUTORY INFORMATION

Tivoli Inns (Cardiff) 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 at the balance sheet date the company had net current liabilities. This was a timing issue on the balance sheet date and has since rectified. The Directors have considered the 12 months from date of signing of the accounts and as the UK economy continues to recover after the lockdown periods due to Covid-19, they are confident that the company will continue to improve in profitability.Therefore the Directors consider the going concern basis of preparation to be appropriate.

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

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

Long leasehold

-

over the period of the lease

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Music Equipment

-

25% on cost

Computer equipment

-

25% on cost

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 Profit and Loss Account, 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 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.

Lease incentives

The benefits of lease incentives are recognised in the profit and loss account over the total lease period.

Holiday pay accrual

The liability is recognised when an employee has provided service in exchange for benefits to be paid in the future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2021 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 November 2021

265,148

133,417

398,565

Additions

100,383

78,140

178,523

At 31 October 2022

365,531

211,557

577,088

DEPRECIATION

At 1 November 2021

82,264

124,100

206,364

Charge for year

24,987

11,867

36,854

At 31 October 2022

107,251

135,967

243,218

NET BOOK VALUE

At 31 October 2022

258,280

75,590

333,870

At 31 October 2021

182,884

9,317

192,201

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/22

31/10/21

£

£

Other debtors

51,638

35,790

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/22

31/10/21

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

137,342

114,375

Amounts owed to group undertakings

201,202

1,202

Taxation and social security

29,896

59,884

Other creditors

221,390

244,951

599,830

430,412

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/10/22

31/10/21

£

£

Bank loans

27,500

37,500

Other creditors

125

1,231

27,625

38,731

8.	OTHER FINANCIAL COMMITMENTS

As at the balance sheet date, the company had total future minimum lease payments under an operating lease for plant and machinery amounting to £10,164 per annum. This lease has no cessation date and the lessee or lessor can terminate the agreement at any time.

The company also has total future minimum lease payments under another operating lease amounting to £450,000.

9.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Tivoli Inns Limited.