The Lathkil Hotel Limited Filleted accounts for Companies House (small and micro)

LATHKIL HOTEL LIMITED(THE) - Company Information

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COMPANY REGISTRATION NUMBER: 01594605

The Lathkil Hotel Limited

Filleted Unaudited Abridged Financial Statements

31 January 2023

The Lathkil Hotel Limited

Abridged Statement of Financial Position

31 January 2023

	2023	2022
Note	£	£

Fixed assets

Tangible assets	5	663,017	671,570

Current assets

Stocks	8,360	7,644
Debtors	2,639	2,686
Cash at bank and in hand	4,048	49,691
	-------	-------
	15,047	60,021

Creditors: amounts falling due within one year	529,289	523,439
	---------	---------
Net current liabilities	514,242	463,418
	---------	---------
Total assets less current liabilities	148,775	208,152

Creditors: amounts falling due after more than one year	6	86,923	94,100
		---------	---------
Net assets		61,852	114,052
		---------	---------

Capital and reserves

Called up share capital	7	71,223	71,223
Revaluation reserve		160,636	166,816
Profit and loss account		( 170,007)	( 123,987)
		---------	---------
Shareholders funds		61,852	114,052
		---------	---------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 January 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 abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 January 2023 in accordance with Section 444(2A) of the Companies Act 2006.

The Lathkil Hotel Limited

Abridged Statement of Financial Position (continued)

31 January 2023

These abridged financial statements were approved by the board of directors and authorised for issue on 18 January 2024 , and are signed on behalf of the board by:

Miss A M Grigor-Taylor

Director

Company registration number: 01594605

The Lathkil Hotel Limited

Notes to the Abridged Financial Statements

Year ended 31 January 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lathkil Hotel, Over Haddon, Bakewell, Derbyshire, DE45 1JE.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors believe the company is still a going concern and that they will undertake to ensure that adequate financial resources are provided to the company to enable it to meet its liabilities as they fall due. As a result of this the accounts have been prepared on a going concern basis.

Revenue recognition

Turnover represents the amount derived from ordinary activities, excluding Value Added Tax.

Tangible assets

Fixed assets are initially recorded at cost with the exception of freehold property which is shown at an open market value.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% on cost or revalued amount of buildings only
Fixtures and equipment	-	Between 15% and 25 % on reducing balance

An amount equal to the excess of the annual depreciation charge on revalued assets over the original cost depreciation charge on those assets is transferred annually from the revaluation reserve to retained earnings.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 12 (2022: 12 ).

5. Tangible assets

	£
Cost
At 1 February 2022	812,507
Additions	3,846
	---------
At 31 January 2023	816,353
	---------
Depreciation
At 1 February 2022	140,937
Charge for the year	12,399
	---------
At 31 January 2023	153,336
	---------
Carrying amount
At 31 January 2023	663,017
	---------
At 31 January 2022	671,570
	---------

6. Creditors: amounts falling due after more than one year

Bank debts above totalling £86,923 (2022 - £94,100) are secured by a charge over the company's land and buildings.

7. Called up share capital

Issued, called up and fully paid

	2023		2022
	No.	£	No.	£
Ordinary shares of £ 1 each	71,223	71,223	71,223	71,223
	-------	-------	-------	-------

8. Directors' advances, credits and guarantees

At the balance sheet date £492,693 (2022: £478,957) was due to the directors. This amount is included within other creditors payable within one year.