The Cleve Hotel Limited - Period Ending 2013-12-31

Registration number: 04681206

The Cleve Hotel Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2013
 

The Cleve Hotel Limited
Contents

Page

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 6

The Cleve Hotel Limited
(Registration number: 04681206)
Abbreviated Balance Sheet at 31 December 2013

		Note			2013 £			2012 £
Fixed assets
Intangible fixed assets					81,006			89,534
Tangible fixed assets					690,000			706,258
		2			771,006			795,792
Current assets
Stocks					9,390			7,100
Debtors					37,543			89,919
Cash at bank and in hand					34,192			16,720
					81,125			113,739
Creditors: Amounts falling due within one year		3			(169,908)			(156,453)
Net current liabilities					(88,783)			(42,714)
Total assets less current liabilities					682,223			753,078
Creditors: Amounts falling due after more than one year					(303,421)			(351,058)
Provisions for liabilities					(12,253)			(11,442)
Net assets					366,549			390,578
Capital and reserves
Called up share capital		4			10,000			10,000
Profit and loss account					356,549			380,578
Shareholders' funds					366,549			390,578

Page 1

The Cleve Hotel Limited
(Registration number: 04681206)
Abbreviated Balance Sheet at 31 December 2013

For the year ending 31 December 2013 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 director acknowledges his 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 director on 31 October 2014

R J Clarke Director

Page 2

The Cleve Hotel Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 December 2013

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 April 2008).

Going concern

The company has net current liabilities at year end which includes a loan from the director and a loan from the company's bankers. The director will continue to support the company by providing a loan as is required in order to meet the other liabilities of the company as they fall due. On this basis, the director considers it appropriate to prepare the accounts on the going concern basis.

Turnover

Turnover represents amounts receivable for the provision of hotel accommodation and related services including food and bar sales, net of VAT. Income is recognised following completion of each guest's stay.

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

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

Asset class	Amortisation method and rate
Goodwill	Over its useful life of 20 years

Depreciation

Page 3

The Cleve Hotel Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 December 2013

The company has adopted the renewals basis in relation to furniture, fixtures and equipment. The asset value is maintained by a policy of continuous repair or replacement, the cost of which is debited to the profit and loss account. No depreciation is provided and the asset value will increase by the cost of any new items acquired to augment the existing inventory.

Where tangible fixed assets are constantly being replaced and their value is not material in assessing the company's state of affairs and their quantity, value and composition are not subject to material variation, the FRSSE allows the assets to be included at a fixed quantity and value.

The directors acknowledge that a user of the accounts may consider the value of fixtures and fittings to be material to the comapny's balance sheet, in which case the accounting treatment adopted would be a departure from the requirements of the FRRSE, however the accounting policy adopted is considerable to be necessary in order for the financial statements to give a true and fair view.

Depreciation is provided on other 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
Leasehold property	2% straight line
Property improvements	5% straight line
Office equipment	33% 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 4

The Cleve Hotel Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 December 2013

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 January 2013		170,550			758,878			929,428
At 31 December 2013		170,550			758,878			929,428
Depreciation
At 1 January 2013		81,016			52,620			133,636
Charge for the year		8,528			16,258			24,786
At 31 December 2013		89,544			68,878			158,422
Net book value
At 31 December 2013		81,006			690,000			771,006
At 31 December 2012		89,534			706,258			795,792

3

Creditors

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

		2013 £			2012 £
Amounts falling due within one year		46,000			42,000
Amounts falling due after more than one year		303,421			351,058
Total secured creditors		349,421			393,058

Included in the creditors are the following amounts due after more than five years:

		2013 £			2012 £
After more than five years by instalments		119,421			183,058

Page 5

The Cleve Hotel Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 December 2013

4	Share capital

Allotted, called up and fully paid shares

	2013						2012
		No.			£			No.			£
Ordinary shares of £1 each		10,000			10,000			10,000			10,000

Page 6