CHANNEL_HOTELS_&_PROPERTI - Accounts
CHANNEL_HOTELS_&_PROPERTI - Accounts
Company Registration No. 02259706 (England and Wales)
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
- 1 -
2015
2014
Notes
£
£
£
£
Current assets
Debtors
2
Cash at bank and in hand
-
Creditors: amounts falling due within one year
(2,560 )
(90,320 )
Total assets less current liabilities
Creditors: amounts falling due after more than one year
(4,494,517 )
(4,396,792 )
(4,302,023)
(4,301,033)
Capital and reserves
Called up share capital
3
Profit and loss account
(4,302,025 )
(4,301,035 )
Shareholders' funds
(4,302,023 )
(4,301,033 )
Director's responsibilities:
-
-
Approved by the Board for issue on 30 May 2016
Director
Company Registration No. 02259706
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
1
Accounting policies
1.1
Accounting convention
As at 31 December 2015 the company had net liabilities of £4,302,023.
Channel Hotels & Properties Limited, the parent company and principal creditor, has indicated that it will continue to provide ongoing financial support to enable the company to continue in business for the foreseeable future. The directors therefore consider it appropriate for the accounts to be drawn up on the going concern basis.
Channel Hotels & Properties Limited, the parent company and principal creditor, has indicated that it will continue to provide ongoing financial support to enable the company to continue in business for the foreseeable future. The directors therefore consider it appropriate for the accounts to be drawn up on the going concern basis.
1.2
Turnover
1.3
Tangible fixed assets and depreciation
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
1.4
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.
2
Debtors
Debtors include an amount of £4,738 (2014 - £20,955) which is due after more than one year.
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
4
Ultimate parent company
The immediate parent undertaking and controlling party is Channel Hotels & Properties Limited, a company incorporated in Jersey.
The ultimate parent undertaking is The David Kirch Charitable Trust. The David Kirch Charitable Trust is controlled by the board of trustees.
The David Kirch Charitable Trust prepares group financial statements and copies can be obtained by writing to The Octagon, Le Mont De Gouray, St. Martin, Jersey, JE3 6ET.
The ultimate parent undertaking is The David Kirch Charitable Trust. The David Kirch Charitable Trust is controlled by the board of trustees.
The David Kirch Charitable Trust prepares group financial statements and copies can be obtained by writing to The Octagon, Le Mont De Gouray, St. Martin, Jersey, JE3 6ET.