Abbey House Malmesbury Limited - Accounts to registrar (filleted) - small 23.1.5

REGISTERED NUMBER: 12955447 (England and Wales)

ABRIDGED AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

ABBEY HOUSE MALMESBURY LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr W H Hanks

Ms K T Hanks

REGISTERED OFFICE:

c/o The Old Bell Hotel

Abbey Row

Malmesbury

Wiltshire

SN16 0BW

REGISTERED NUMBER:

12955447 (England and Wales)

AUDITORS:

Haines Watts

Chartered Accountants & Statutory Auditors

Old Station House

Station Approach

Swindon

Wiltshire

SN1 3DU

FIXED ASSETS

Intangible assets

4

3,782

-

Tangible assets

5

2,177,912

2,056,516

2,181,694

2,056,516

CURRENT ASSETS

Debtors

13,004

1

Cash at bank

16

-

13,020

1

CREDITORS

Amounts falling due within one year

2,501,213

2,089,955

NET CURRENT LIABILITIES

(2,488,193

)

(2,089,954

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(306,499

)

(33,438

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(306,500

)

(33,439

)

(306,499

)

(33,438

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Statement of Financial Position for the year ended 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 19 September 2023 and were signed on its behalf by:

Mr W H Hanks - Director

1.	STATUTORY INFORMATION

Abbey House Malmesbury 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.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

The company's ultimate parent company Whim Hospitality LLC has given an undertaking to support the group over twelve months from the date of approval of these financial statements and for the foreseeable future.

The directors have considered the business activities including the company's principal risks and uncertainties. The Board also considered the company's current cash position, and the resilience of its 12-month cash flow forecasts.

Considering these factors the Board is satisfied that the company has adequate resources to continue its operations at all times and therefore it is appropriate to adopt the going concern basis in preparing the financial statements for the period ending on 31 December 2022.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

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

Land and buildings

-

2% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

Additions

4,650

At 31 December 2022

4,650

AMORTISATION

Amortisation for year

868

At 31 December 2022

868

NET BOOK VALUE

At 31 December 2022

3,782

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2022

2,089,955

Additions

156,905

At 31 December 2022

2,246,860

DEPRECIATION

At 1 January 2022

33,439

Charge for year

35,509

At 31 December 2022

68,948

NET BOOK VALUE

At 31 December 2022

2,177,912

At 31 December 2021

2,056,516

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Lloyd FCCA (Senior Statutory Auditor)

for and on behalf of Haines Watts

7.	ULTIMATE CONTROLLING PARTY

The parent company of the smallest group within which the company belongs, and for which group financial statements are prepared, is Violet Crown Holdings Limited, registered at 6 Drakes Meadow, Swindon, England SN3 3LL.