Yorkshire Period Hotels Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04079861 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

YORKSHIRE PERIOD HOTELS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M N Hogarth

C M Hogarth

SECRETARY:

M N Hogarth

REGISTERED OFFICE:

The Counting House

Nelson Street

Hull

East Yorkshire

HU1 1XE

REGISTERED NUMBER:

04079861 (England and Wales)

ACCOUNTANTS:

Graybrowne Limited

Chartered Accountants

The Counting House

Nelson Street

Hull

East Yorkshire

HU1 1XE

FIXED ASSETS

Investments

3

4,258,414

4,159,322

CURRENT ASSETS

Debtors

4

-

123

Cash at bank

-

147

-

270

CREDITORS

Amounts falling due within one year

5

4,048,249

1,672,109

NET CURRENT LIABILITIES

(4,048,249

)

(1,671,839

)

TOTAL ASSETS LESS CURRENT LIABILITIES

210,165

2,487,483

CREDITORS

Amounts falling due after more than one year

6

-

2,311,130

NET ASSETS

210,165

176,353

CAPITAL AND RESERVES

Called up share capital

100

100

Investment revaluation reserve

(80,231

)

(179,323

)

Retained earnings

290,296

355,576

SHAREHOLDERS' FUNDS

210,165

176,353

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 31 July 2017 and were signed on its behalf by:

M N Hogarth - Director

C M Hogarth - Director

1.	STATUTORY INFORMATION

Yorkshire Period Hotels Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities"

of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of

Ireland" and Companies Act 2006. There were no material departures from that standard. The financial

statements have been prepared under the historical cost convention as modified by the revaluation of certain

assets.

This is the first year in which the financial statements have been prepared under FRS 102 Section 1A small

entities. The nature of changes and their impact on opening equity and profit for the comparative period are

explained in the first year adoption note and accompanying reconciliations.

Going concern

The accounts have been prepared on the going concern basis as the directors and the company's fellow group

member have indicated their willingness to continue to support the company.

Preparation of consolidated financial statements

The financial statements contain information about Yorkshire Period Hotels Limited as an individual company

and do not contain consolidated financial information as the parent of a group. The company has taken the option

under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. Derivative

financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or

loss.

Fixed asset investments

Fixed asset investments in group undertakings are stated at valuation with any surplus or deficit being transferred

to the revaluation reserve. Other fixed asset investments are stated at cost less provision for any permanent

diminution in value.

3.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in

undertakings

associate

Totals

£

£

£

COST OR VALUATION

At 1 April 2016

2,903,072

1,256,250

4,159,322

Revaluations

99,092

-

99,092

At 31 March 2017

3,002,164

1,256,250

4,258,414

NET BOOK VALUE

At 31 March 2017

3,002,164

1,256,250

4,258,414

At 31 March 2016

2,903,072

1,256,250

4,159,322

Cost or valuation at 31 March 2017 is represented by:

Shares in

Interest

group

in

undertakings

associate

Totals

£

£

£

Valuation in 2017

(80,231

)

-

(80,231

)

Cost

3,082,395

1,256,250

4,338,645

3,002,164

1,256,250

4,258,414

If shares in group undertakings had not been revalued they would have been included at the following historical

cost:

31.3.17

31.3.16

£

£

Cost

3,082,395

3,082,395

Shares in group undertakings were valued on a net asset basis on 31 March 2017 by the directors .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Other debtors

-

123

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans and overdrafts

2,851

-

Amounts owed to group undertakings

348,097

370,383

Taxation and social security

31,787

31,787

Other creditors

3,665,514

1,269,939

4,048,249

1,672,109

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans

-

2,311,130

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.17

31.3.16

£

£

Bank overdraft

2,851

-

Bank loans

-

2,311,130

2,851

2,311,130

The bank overdraft is secured by fixed and floating charges over the undertaking and all property and assets

present and future including goodwill, bookdebts, uncalled capital, buildings, fixtures, fixed plant and

machinery.

8.	GUARANTEES AND OTHER FINANCIAL COMMITMENTS

The company's bankers hold a cross guarantee between the company and related parties amounting to

£6,742,993 (2016: £7,111,390).

It is the opinion of the directors that this guarantee will not crystallise and therefore has not been provided for in

these financial statements.

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

During the year, total dividends of £65,280 (2016: £Nil) were paid to the directors.

A director, has given a personal guarantee of £100,000 in favour of the company's bankers.

10.	FIRST YEAR ADOPTION

This is the first financial year that the company has presented its financial statements in accordance with FRS

102 'The Financial Reporting Framework Applicable in the UK and Republic of Ireland' ('FRS 102'). For

financial years up to and including the year ending 31 March 2016, the company prepared its financial

statements in accordance with old UK GAAP.

The company's date of transition to FRS 102 is therefore 1 April 2015. This note sets out the changes to

accounting policies and the transitional adjustments that are required to be made for first-time transition to FRS

102. The company's opening equity position at 1 April 2015 and its previously published financial statements for

the year ended 31 March 2016 have been restated from old UK GAAP.

In carrying out the transition to FRS 102, the company has not applied any of the optional exemptions as

permitted by section 35 Transition to this FRS.

Transitional adjustments

On the adoption of the requirements of FRS 102, due to transitional adjustments required within the subsidiary

undertaking, a subsequent transitional adjustment has resulted in an increase to financial liabilities of £45,799 at

31 March 2016. There was also a similar effect on reserves at 31 March 2016.