Papas Hotels Limited - Accounts to registrar (filleted) - small 23.2.5
Papas Hotels Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 29 March 2023 |
| for |
| PAPAS HOTELS LIMITED |
| PAPAS HOTELS LIMITED (REGISTERED NUMBER: 03629490) |
| Contents of the Financial Statements |
| for the Year Ended 29 March 2023 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| PAPAS HOTELS LIMITED |
| Company Information |
| for the Year Ended 29 March 2023 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Accountants & Tax Advisors |
| 573 Chester Road |
| Sutton Coldfield |
| West Midlands |
| B73 5HU |
| BANKERS: |
| 14/16 Denmark Hill |
| Camberwell |
| London |
| SE5 8RZ |
| PAPAS HOTELS LIMITED (REGISTERED NUMBER: 03629490) |
| Statement of Financial Position |
| 29 March 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Stocks | 7 |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| ( non- distributable) |
| Fair value reserve | 13 |
| 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. |
| PAPAS HOTELS LIMITED (REGISTERED NUMBER: 03629490) |
| Statement of Financial Position - continued |
| 29 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 |
| PAPAS HOTELS LIMITED (REGISTERED NUMBER: 03629490) |
| Notes to the Financial Statements |
| for the Year Ended 29 March 2023 |
| 1. | STATUTORY INFORMATION |
| Papas Hotels Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net sales excluding, value added tax. |
| 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. |
| Tangible fixed assets |
| Freehold property | - |
| Fixtures and fittings | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 30 March 2022 |
| and 29 March 2023 |
| AMORTISATION |
| At 30 March 2022 |
| and 29 March 2023 |
| NET BOOK VALUE |
| At 29 March 2023 |
| At 29 March 2022 |
| PAPAS HOTELS LIMITED (REGISTERED NUMBER: 03629490) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 March 2023 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| Freehold | to | and |
| property | property | fittings | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 30 March 2022 |
| and 29 March 2023 |
| DEPRECIATION |
| At 30 March 2022 |
| Charge for year |
| At 29 March 2023 |
| NET BOOK VALUE |
| At 29 March 2023 |
| At 29 March 2022 |
| Cost or valuation at 29 March 2023 is represented by: |
| Improvements | Fixtures |
| Freehold | to | and |
| property | property | fittings | Totals |
| £ | £ | £ | £ |
| Valuation in 2001 | 105,357 | - | - | 105,357 |
| Valuation in 2015 | 444,724 | - | - | 444,724 |
| Cost | 249,919 | 137,985 | 178,853 | 566,757 |
| 800,000 | 137,985 | 178,853 | 1,116,838 |
| If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
| 2023 | 2022 |
| £ | £ |
| Cost | 249,919 | 249,919 |
| Aggregate depreciation | 24,681 | 24,681 |
| The freehold property was valued on an open market basis on 31 March 2019 by the directors . |
| PAPAS HOTELS LIMITED (REGISTERED NUMBER: 03629490) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 March 2023 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 30 March 2022 |
| Transfer to ownership | ( |
) |
| At 29 March 2023 |
| NET BOOK VALUE |
| At 29 March 2023 |
| At 29 March 2022 |
| Fair value at 29 March 2023 is represented by: |
| £ |
| Valuation in 2001 | 15,000 |
| Valuation in 2007 | 558,531 |
| Valuation in 2008 | (8,648 | ) |
| Valuation in 2016 | (48,436 | ) |
| Valuation in 2016 | 344,974 |
| Valuation in 2020 | (151,644 | ) |
| Valuation in 2021 | (141,644 | ) |
| Cost | 1,030,757 |
| 1,598,890 |
| ** | TOTAL SHOWN ON CLIENT SCREEN - REVALUATION ANALYSIS - DOES NOT AGREE TO TOTAL OF FIXED ASSET 'COST' ACCOUNT HELD AT END OF YEAR IN RESPECT OF |
| INVESTMENT PROPERTY |
| 'COST' ACCOUNT TOTAL |
| Cost/valuation b/f | 1,598,890 |
| Transfer to ownership | (328,890 | ) |
| 1,270,000 |
| CLIENT SCREEN TOTAL | = | 1,598,890 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2023 | 2022 |
| £ | £ |
| Cost | 1,030,756 | 1,030,756 |
| Investment property was valued on an open market basis on 31 March 2016 by the directors . |
| 7. | STOCKS |
| 2023 | 2022 |
| £ | £ |
| Stocks |
| PAPAS HOTELS LIMITED (REGISTERED NUMBER: 03629490) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 March 2023 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Other debtors |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loan more than 5 years | 448,125 | 626,081 |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2023 | 2022 |
| £ | £ |
| Bank loans |
| The company's bank loans and overdraft are secured by way of legal charges over all company assets, freehold and investment properties, and by way of joint and several guarantees of the company's directors. |
| 12. | PROVISIONS FOR LIABILITIES |
| 2023 | 2022 |
| £ | £ |
| Deferred tax |
| Revaluation in Profit & loss | - | (18,921 | ) |
| Deferred tax | 63,672 | 82,593 |
| 63,672 | 63,672 |
| Deferred |
| tax |
| £ |
| Balance at 30 March 2022 |
| Balance at 29 March 2023 |
| PAPAS HOTELS LIMITED (REGISTERED NUMBER: 03629490) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 March 2023 |
| 13. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 30 March 2022 |
| and 29 March 2023 |
| 14. | ULTIMATE CONTROLLING PARTY |
| The company is under the direct control of the directors and their immediate family. |