Chester House Hotel Limited - Period Ending 2016-06-30

Registration number: 05689601

Chester House Hotel Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2016
 

HCB Accountants LLP
29 Wood Street
Stratford upon Avon
Warwickshire
CV37 6JG

Chester House Hotel Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Chester House Hotel Limited
(Registration number: 05689601)
Abbreviated Balance Sheet at 30 June 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					138,529			140,478
Current assets
Stocks					3,750			3,750
Debtors					24,996			24,261
Cash at bank and in hand					323,030			230,638
					351,776			258,649
Creditors: Amounts falling due within one year					(213,679)			(177,015)
Net current assets					138,097			81,634
Total assets less current liabilities					276,626			222,112
Creditors: Amounts falling due after more than one year					(171,907)			(179,093)
Provisions for liabilities					(4,147)			(5,303)
Net assets					100,572			37,716
Capital and reserves
Called up share capital		4			3			3
Profit and loss account					100,569			37,713
Shareholders' funds					100,572			37,716

For the year ending 30 June 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 9 February 2017 and signed on its behalf by:

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Chester House Hotel Limited
(Registration number: 05689601)
Abbreviated Balance Sheet at 30 June 2016
......... continued

.........................................
Mr Simon Bird
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Chester House Hotel Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. Turnover is recognised when the guests stay at the hotel.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Goodwill has been amortised fully over its estimated useful life of 8 years.

Asset class	Amortisation method and rate
Goodwill	12.5% Straight Line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Land and buildings leasehold	2.22% Straight Line
Plant and machinery	10% Straight Line
Computer equipment	33.33% Straight Line
Fixtures, fittings and equipment	10% Straight Line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 3

Chester House Hotel Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 July 2015		25,000			214,262			239,262
Additions		-			9,625			9,625
At 30 June 2016		25,000			223,887			248,887
Depreciation
At 1 July 2015		25,000			73,784			98,784
Charge for the year		-			11,574			11,574
At 30 June 2016		25,000			85,358			110,358
Net book value
At 30 June 2016		-			138,529			138,529
At 30 June 2015		-			140,478			140,478

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

Page 4

Chester House Hotel Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

		2016 £			2015 £
Amounts falling due within one year		4,405			4,405
Amounts falling due after more than one year		81,908			89,352
Total secured creditors		86,313			93,757

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary A Shares of £1 each		1			1			1			1
Ordinary B Shares of £1 each		1			1			1			1
Ordinary C Shares of £1 each		1			1			1			1
		3			3			3			3

Page 5