Company Registration No. 00634901 (England and Wales)
Castle Hotel (Taunton) Limited(The)
Unaudited accounts
for the year ended 31 December 2022
Castle Hotel (Taunton) Limited(The)
Unaudited accounts
Contents
Castle Hotel (Taunton) Limited(The)
Company Information
for the year ended 31 December 2022
Directors
Christopher Henry George Chapman
Dominic Alexander Peter Chapman
Marie Louise Anne Chapman
Nicholas Chapman
Ronan Hunter
Company Number
00634901 (England and Wales)
Registered Office
THE CASTLE HOTEL
CASTLE GREEN
TAUNTON
SOMERSET
TA1 1NF
Accountants
JP Accountancy Services (Sussex) Limited
5 Fairfield Way
Ashington
Pulborough
West Sussex
RH20 3LA
Castle Hotel (Taunton) Limited(The)
Statement of financial position
as at 31 December 2022
Tangible assets
3,193,783
3,129,184
Cash at bank and in hand
512,380
641,060
Creditors: amounts falling due within one year
(538,991)
(680,503)
Net current assets
71,891
153,889
Total assets less current liabilities
3,265,674
3,283,073
Creditors: amounts falling due after more than one year
(4,142)
(153,400)
Provisions for liabilities
Deferred tax
(54,329)
(85,547)
Net assets
3,207,203
3,044,126
Called up share capital
24,574
24,574
Revaluation reserve
2,247,972
2,247,972
Profit and loss account
934,657
771,580
Shareholders' funds
3,207,203
3,044,126
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 July 2023 and were signed on its behalf by
Nicholas Chapman
Director
Company Registration No. 00634901
Castle Hotel (Taunton) Limited(The)
Notes to the Accounts
for the year ended 31 December 2022
Castle Hotel (Taunton) Limited(The) is a private company, limited by shares, registered in England and Wales, registration number 00634901. The registered office is THE CASTLE HOTEL, CASTLE GREEN, TAUNTON, SOMERSET, TA1 1NF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% Straight Line
Plant & machinery
over between 4 and 20 years
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss. The company recieved government grants in relation to COVID-19 during the year totalling £338,224 (2020: £502,525).
Castle Hotel (Taunton) Limited(The)
Notes to the Accounts
for the year ended 31 December 2022
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 January 2022
3,200,000
1,372,173
4,572,173
Additions
-
181,756
181,756
At 31 December 2022
3,200,000
1,553,929
4,753,929
At 1 January 2022
235,084
1,207,905
1,442,989
Charge for the year
59,746
57,411
117,157
At 31 December 2022
294,830
1,265,316
1,560,146
At 31 December 2022
2,905,170
288,613
3,193,783
At 31 December 2021
2,964,916
164,268
3,129,184
Carrying amount of land and buildings on cost basis
848,743
863,986
Carrying amount of plant & machinery on cost basis
201,484
66,556
The land and buildings were revalued by the directors on 1 October 2014 at £3,200,000 in their existing use and present condition as a fully operational entity. The directors believe this valuation remains appropriate as at 31 December 2021.
Amounts falling due within one year
Trade debtors
26,521
12,985
Accrued income and prepayments
44,292
160,224
Castle Hotel (Taunton) Limited(The)
Notes to the Accounts
for the year ended 31 December 2022
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
-
188,122
Trade creditors
226,324
201,145
Taxes and social security
39,017
62,265
Other creditors
14,619
43,941
Deferred income
75,741
85,904
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Creditors: amounts falling due after more than one year
2022
2021
The bank loans and overdrafts are secured by a debenture as a fixed and floating charge over the company and all property and assets present and future including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant and machinery.
The provision relates entirely to deferred taxation.
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Transactions with related parties
The company is under the control of C H G Chapman.
Three of the directors are included in the company's defined contributions pension scheme.
Mrs A Chapman, who is the wife of N M C Chapman, and Mrs H Chapman, who is the wife of D A P Chapman, are both included in the company's private medical insurance scheme.
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Average number of employees
During the year the average number of employees was 83 (2021: 75).
