Imp Hotel Limited - Accounts to registrar (filleted) - small 23.1.5
Imp Hotel Limited - Accounts to registrar (filleted) - small 23.1.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2023 |
| for |
| Imp Hotel Limited |
| Imp Hotel Limited (Registered number: 01319416) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Imp Hotel Limited |
| Company Information |
| for the Year Ended 31 March 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 34 Romanby Road |
| NORTHALLERTON |
| North Yorkshire |
| DL7 8NF |
| Imp Hotel Limited (Registered number: 01319416) |
| Balance Sheet |
| 31 March 2023 |
| 2023 | 2022 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Imp Hotel Limited (Registered number: 01319416) |
| Balance Sheet - continued |
| 31 March 2023 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Imp Hotel Limited (Registered number: 01319416) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2023 |
| 1. | STATUTORY INFORMATION |
| Imp Hotel Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents property rental income and sale of specific artwork and commodities. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Investment property |
| Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in the market value is transferred to retained earnings. |
| 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 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 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. |
| Investments |
| Investments held as fixed assets are stated at the fair value at the balance sheet date. Investments in group undertakings are valued at cost lest any permanent diminution in value. |
| Imp Hotel Limited (Registered number: 01319416) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Going concern |
| These financial statements have been prepared on a going concern basis. |
| The current economic conditions present increased risks for all businesses. In response to such conditions, the Directors have carefully considered these risks, including the extent to which they might affect the preparation of the financial statements on a going concern basis. |
| Based on this assessment, the Directors consider that the company maintains an appropriate level of liquidity, sufficient to meet the demands of the business. In addition, the company assets are assessed for recoverability on a regular basis, and the Directors consider that the company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis. |
| The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the company's ability to continue as a going concern. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1 April 2022 |
| and 31 March 2023 |
| DEPRECIATION |
| At 1 April 2022 |
| Charge for year |
| At 31 March 2023 |
| NET BOOK VALUE |
| At 31 March 2023 |
| At 31 March 2022 |
| Imp Hotel Limited (Registered number: 01319416) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 5. | FIXED ASSET INVESTMENTS |
| Interest |
| in | Other |
| associate | investments | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2022 | 66,314 |
| Additions | 10,000 |
| Revaluations | 1,299 |
| At 31 March 2023 | 77,613 |
| NET BOOK VALUE |
| At 31 March 2023 | 77,613 |
| At 31 March 2022 | 66,314 |
| Cost or valuation at 31 March 2023 is represented by: |
| Interest |
| in | Other |
| associate | investments | Totals |
| £ | £ | £ |
| Valuation in 2022 | - | 1,299 | 1,299 |
| Cost | 66,135 | 10,179 | 76,314 |
| 66,135 | 11,478 | 77,613 |
| If other investments had not been revalued they would have been included at the following historical cost: |
| 2023 | 2022 |
| £ | £ |
| Cost | 10,179 | 179 |
| Other investments were valued on an open market basis on 31 March 2023 by IG and the directors . |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Associated company |
| Registered office: 19 Flora Avenue, Darlington, Co. Durham, DL3 8PF |
| Nature of business: |
| % |
| Class of shares: | holding |
| Imp Hotel Limited (Registered number: 01319416) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2022 |
| and 31 March 2023 |
| NET BOOK VALUE |
| At 31 March 2023 |
| At 31 March 2022 |
| Fair value at 31 March 2023 is represented by: |
| £ |
| Valuation in 2016 | (9,870 | ) |
| Valuation in 2021 | 15,000 |
| Cost | 104,870 |
| 110,000 |
| If Investment Property had not been revalued it would have been included at the following historical cost: |
| 2023 | 2022 |
| £ | £ |
| Cost | 104,870 | 104,870 |
| Investment property was valued on an open market basis on 31 March 2023 by the directors . |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| Amounts owed by associate undertakings | - | 30,000 |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | DEFERRED TAX |
| £ |
| Balance at 1 April 2022 | ( |
) |
| Provided during year |
| Balance at 31 March 2023 | ( |
) |
| Imp Hotel Limited (Registered number: 01319416) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 10. | CONTINGENT LIABILITIES |
| There were no contingent liabilities at 31 March 2023. (2022 - None). |
| 11. | CAPITAL COMMITMENTS |
| There were no capital commitments at 31 March 2023. (2022 - None). |
| 12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022: |
| 2023 | 2022 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| The loan is interest free with no specific repayment terms. |
| 13. | RELATED PARTY DISCLOSURES |
| During the prior year, the company sold Artwork stock to an associate undertaking, The American Dining Car Company Limited for proceeds of £7,091. |
| 14. | ULTIMATE CONTROLLING PARTY |
| Mr J R Iley is the ultimate controlling party by virtue of his shareholding. |