Premier Pets Hotel Limited Company Accounts

PREMIER PETS HOTEL LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07280223

Premier Pets Hotel Limited

Filleted Unaudited Financial Statements

For the year ended

30 April 2017

Premier Pets Hotel Limited

Financial Statements

Year ended 30 April 2017

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

The following pages do not form part of the financial statements

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements	9

Premier Pets Hotel Limited

Officers and Professional Advisers

The board of directors	Mrs M Vassallo
	Mr R A Vassallo

Registered office	550 Valley Road
	Nottingham
	Basford
	NG5 1JJ

Accountants	Swandec
	Chartered accountant
	550 Valley Road
	Basford
	Nottingham
	NG5 1JJ

Bankers	National Westminster
	52 Rectory Road
	West Bridgford
	Nottingham
	NG2 6FF

Premier Pets Hotel Limited

Statement of Financial Position

30 April 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	4		164,569	151,714

Current assets

Stocks		1,500	1,850
Debtors	5	17,117	18,910
Cash at bank and in hand		235,795	219,339
		---------	---------
		254,412	240,099

Creditors: amounts falling due within one year	6	58,555		61,961
		---------		---------
Net current assets			195,857	178,138
			---------	---------
Total assets less current liabilities			360,426	329,852

Creditors: amounts falling due after more than one year	7	–	14,421
		---------	---------
Net assets		360,426	315,431
		---------	---------

Capital and reserves

Called up share capital	8	100	100
Profit and loss account		360,326	315,331
		---------	---------
Members funds		360,426	315,431
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 30 April 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Premier Pets Hotel Limited

Statement of Financial Position (continued)

30 April 2017

These financial statements were approved by the board of directors and authorised for issue on 17 October 2017 , and are signed on behalf of the board by:

Mrs M Vassallo

Director

Company registration number: 07280223

Premier Pets Hotel Limited

Notes to the Financial Statements

Year ended 30 April 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 550 Valley Road, Nottingham, Basford, NG5 1JJ.

2. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 May 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & machinery	-	20% reducing balance
Fixtures & fittings	-	20% reducing balance
Motor vehicle	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

3. Employee numbers

The average number of persons employed by the company during the year amounted to 14 (2016: 13 ).

4. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 May 2016	131,550	13,730	41,734	17,323	204,337
Additions	–	–	28,220	–	28,220
	---------	--------	--------	--------	---------
At 30 April 2017	131,550	13,730	69,954	17,323	232,557
	---------	--------	--------	--------	---------
Depreciation
At 1 May 2016	26,303	9,205	8,347	8,768	52,623
Charge for the year	–	905	12,321	2,139	15,365
	---------	--------	--------	--------	---------
At 30 April 2017	26,303	10,110	20,668	10,907	67,988
	---------	--------	--------	--------	---------
Carrying amount
At 30 April 2017	105,247	3,620	49,286	6,416	164,569
	---------	--------	--------	--------	---------
At 30 April 2016	105,247	4,525	33,387	8,555	151,714
	---------	--------	--------	--------	---------

5. Debtors

	2017	2016
	£	£
Trade debtors	12,927	15,024
Other debtors	4,190	3,886
	--------	--------
	17,117	18,910
	--------	--------

6. Creditors: amounts falling due within one year

	2017	2016
	£	£
Bank loans and overdrafts	14,374	33,737
Trade creditors	–	735
Corporation tax	22,419	8,948
Social security and other taxes	16,907	13,277
Other creditors	4,855	5,264
	--------	--------
	58,555	61,961
	--------	--------

7. Creditors: amounts falling due after more than one year

	2017	2016
	£	£
Bank loans and overdrafts	–	14,421
	----	--------

8. Called up share capital

Issued, called up and fully paid

	2017		2016
	No.	£	No.	£
Ordinary A shares of £ 1 each	51	51	51	51
Ordinary B shares of £ 1 each	49	49	49	49
	----	----	----	----
	100	100	100	100
	----	----	----	----

9. Directors' advances, credits and guarantees

During the year the directors lent the company £80,344. The company repaid a net amount of £80,753 At the statement of financial position date the company owed the directors £355 (2016: director owed the company £764), in the directors loan account. This loan is interest free, unsecured and repayable on demand.

10. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 May 2015.

No transitional adjustments were required in equity or profit or loss for the year.

Premier Pets Hotel Limited

Management Information

Year ended 30 April 2017

The following pages do not form part of the financial statements.

Premier Pets Hotel Limited

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Premier Pets Hotel Limited

Year ended 30 April 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Premier Pets Hotel Limited for the year ended 30 April 2017, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Premier Pets Hotel Limited, as a body, in accordance with the terms of our engagement letter dated 27 October 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Premier Pets Hotel Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Premier Pets Hotel Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Premier Pets Hotel Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Premier Pets Hotel Limited. You consider that Premier Pets Hotel Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Premier Pets Hotel Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Swandec Chartered accountant

550 Valley Road Basford Nottingham NG5 1JJ

17 October 2017