Yorkshire Period Hotels Limited - Period Ending 2023-03-31

Yorkshire Period Hotels Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Yorkshire Period Hotels Limited

Company Information

Directors

S M Hogarth K E Nicholson

Registered office

Office Suite 1 Cave Castle Hotel South Cave Brough East Yorkshire HU15 2EU

Yorkshire Period Hotels Limited

(Registration number: 04079861)
Balance Sheet as at 31 March 2023

	Note	2023 £	2022 £
Fixed assets
Investments	4	4,384,667	4,486,643
Current assets
Cash at bank and in hand		425	425
Creditors: Amounts falling due within one year	5	(4,176,554)	(4,176,554)
Net current liabilities		(4,176,129)	(4,176,129)
Net assets		208,538	310,514
Capital and reserves
Called up share capital	6	20	20
Capital redemption reserve		80	80
Revaluation reserve		46,022	147,998
Retained earnings		162,416	162,416
Shareholders' funds		208,538	310,514

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 October 2023 and signed on its behalf by:
 

......................................... S M Hogarth Director

Yorkshire Period Hotels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1	General information

The company is a private limited company limited by share capital incorporated in England and Wales and the company registration number is 04079861.

The address of its registered office is:
Office Suite 1
Cave Castle Hotel
South Cave
Brough
East Yorkshire
HU15 2EU

These financial statements were authorised for issue by the Board on 9 October 2023.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Group accounts not prepared

The financial statements contain information about Yorkshire Period Hotels Limited as an individual company and do not contain consolidated financial information as part of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. .

Going concern

The company has net current liabilities of £4,176,129 as at 31 March 2023. The company is dependent on the continued financial support of its wholly owned subsidiary and other related companies, who have agreed to provide support and will not demand repayment of amounts owed. Accordingly, the financial statements have been prepared on the going concern basis.

Investments

Investments in equity shares which are not publicly traded are recognised at fair value with changes in fair value recognised in other comprehensive income.

Dividends on equity shares are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Yorkshire Period Hotels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

3	Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 2 (2022 - 2).

4	Investments

	2023 £	2022 £
Investments in subsidiaries	3,789,304	3,829,377
Investments in associates	595,363	657,266
	4,384,667	4,486,643

Subsidiaries	£
Cost or valuation
At 1 April 2022	3,829,377
Revaluation	(40,073)
At 31 March 2023	3,789,304
Carrying amount
At 31 March 2023	3,789,304
At 31 March 2022	3,829,377

	Subsidiaries
Cost	3,082,395
Valuation in 2017	(80,231)
Valuation in 2018	370,912
Valuation in 2019	128,495
Valuation in 2020	23,362
Valuation in 2021	135,265
Valuation in 2022	169,179
Valuation in 2023	(40,073)
Total	3,789,304

Cost or valuation at 31 March 2023 is represented by:
 

Associates	£
Cost
At 1 April 2022	657,266
Revaluation	(61,903)
At 31 March 2023	595,363
Carrying amount
At 31 March 2023	595,363
At 31 March 2022	657,266

Yorkshire Period Hotels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Cost or valuation at 31 March 2023 is represented by:
 

	Associates
Cost	1,256,250
Valuation in 2017	(753,702)
Valuation in 2018	251,020
Valuation in 2019	-
Valuation in 2020	-
Valuation in 2021	(134,853)
Valuation in 2022	38,551
Valuation in 2023	(61,903)
Total	595,363

5

Creditors

Creditors: amounts falling due within one year

	2023 £	2022 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest	4,174,799	4,174,974
Accruals and deferred income	1,755	1,580
	4,176,554	4,176,554

6	Share capital

Allotted, called up and fully paid shares

	2023		2022
	No.	£	No.	£
Ordinary shares of £1 each	20	20	20	20

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

	Revaluation reserve £	Total £
Surplus/deficit on revaluation of other assets	(101,976)	(101,976)

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Yorkshire Period Hotels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

	Revaluation reserve £	Total £
Surplus/deficit on revaluation of other assets	207,730	207,730

8

Dividends

9	Related party transactions

Yorkshire Period Hotels Limited is related to Etrickbank Limited, an associate company.

At the year end, there was an amount owed to Etrickbank Limited of £2,567,786 (2022: £2,572,602) in respect of a current account balance.

Yorkshire Period Hotels Limited is related to Hogarth (Construction) Limited, a company controlled by the estate of a former director.

At the year end, there was an amount owed to Hogarth (Construction) Limited of £1,037,251 (2022: £1,037,251) in respect of a current account balance.

Summary of transactions with subsidiaries

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the Yorkshire Period Hotels Limited Group.