Titchwell Manor Hotel Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 01149019 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2015

FOR

TITCHWELL MANOR HOTEL LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

G I Snaith

Mrs M M Snaith

E J Snaith

Mrs L R Snaith

SECRETARY:

Mrs M M Snaith

REGISTERED OFFICE:

Titchwell Manor Hotel

Titchwell

King's Lynn

Norfolk

PE31 8BB

REGISTERED NUMBER:

01149019 (England and Wales)

ACCOUNTANTS:

Wheelers

Chartered Accountants & Tax Consultants

27-29 Old Market

Wisbech

Cambridgeshire

PE13 1NE

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

899,752

898,123

899,752

898,123

CURRENT ASSETS

Stocks

24,705

23,471

Debtors

39,433

32,620

Cash in hand

24,802

31,958

88,940

88,049

CREDITORS

Amounts falling due within one year

4

559,364

538,342

NET CURRENT LIABILITIES

(470,424

)

(450,293

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

429,328

447,830

CREDITORS

Amounts falling due after more than one
year

4

(359,622

)

(388,205

)

PROVISIONS FOR LIABILITIES

(51,500

)

(45,200

)

NET ASSETS

18,206

14,425

CAPITAL AND RESERVES

Called up share capital

5

10,000

Profit and loss account

8,206

4,425

SHAREHOLDERS' FUNDS

18,206

14,425

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2015 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 15 April 2016 and were signed on its behalf by:

Mrs M M Snaith - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

At the balance sheet date the company had a working capital deficit of £470,424 by virtue of its current liabilities

exceeding its current assets. The directors are confident that the going concern basis for the preparation of the

financial statements is appropriate, and this view is supported by the continuing support of the company bankers

and creditors.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Leasehold property

-

4% on cost

Fixtures and fittings

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Grants

The company received a grant of £10,000 during the year ended 30 November 2010, from Barclays Bank PLC,

as partial funding of two bank loans amounting to £400,000. The grant is being released to income over the

period of the loans.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2014

and 30 November 2015

75,000

AMORTISATION

At 1 December 2014

and 30 November 2015

75,000

NET BOOK VALUE

At 30 November 2015

-

At 30 November 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2014

1,416,941

Additions

72,830

At 30 November 2015

1,489,771

DEPRECIATION

At 1 December 2014

518,818

Charge for year

71,201

At 30 November 2015

590,019

NET BOOK VALUE

At 30 November 2015

899,752

At 30 November 2014

898,123

4.

CREDITORS

Creditors include an amount of £ 388,277 (30.11.14 - £ 415,094 ) for which security has been given.

They also include the following debts falling due in more than five years:

30.11.15

30.11.14

£

Repayable by instalments

229,458

262,527

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.15

30.11.14

value:

£

10,000

Ordinary

£1

10,000