Trebarwith Hotel (1952) Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 00512838 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

TREBARWITH HOTEL (1952) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Hill

REGISTERED OFFICE:

Trebarwith Hotel

Trebarwith Crescent

Newquay

Cornwall

REGISTERED NUMBER:

00512838 (England and Wales)

ACCOUNTANTS:

Whitakers

Chartered Accountants

Bryndon House

5/7 Berry Road

Newquay

Cornwall

TR7 1AD

FIXED ASSETS

Tangible assets

4

1,466,201

1,482,964

CURRENT ASSETS

Stocks

-

3,450

Debtors

5

46

2,135

Cash at bank and in hand

5,224

1,200

5,270

6,785

CREDITORS

Amounts falling due within one year

6

250,435

180,762

NET CURRENT LIABILITIES

(245,165

)

(173,977

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,221,036

1,308,987

CREDITORS

Amounts falling due after more than one year

7

-

(137,234

)

PROVISIONS FOR LIABILITIES

(293,240

)

(294,679

)

NET ASSETS

927,796

877,074

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Revaluation reserve

8

1,247,649

1,247,649

Retained earnings

(329,853

)

(380,575

)

SHAREHOLDERS' FUNDS

927,796

877,074

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 director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director on 27 November 2017 and were signed by:

M Hill - Director

1.	STATUTORY INFORMATION

Trebarwith Hotel (1952) 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.

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 the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at fair value of the consideration received or receivable and represents the amount

receivable for goods and services supplied to customers in the normal course of business, net of value added tax

and trade discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

not provided

Leasehold property

-

not provided

Fixtures, fittings & equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Since October 1967, no depreciation has been provided in respect of the company's freehold and leasehold

property. It is the company's policy to maintain its hotel premises in such a condition that the residual value is not

adversely impaired by the passage of time. Consequently, any element of depreciation would, in the opinion of

the directors, be immaterial.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 .

4.	TANGIBLE FIXED ASSETS

Freehold

Leasehold

Website

property

property

development

£

£

£

COST OR VALUATION

At 1 April 2016

1,421,364

1,099

4,125

Disposals

-

-

(4,125

)

At 31 March 2017

1,421,364

1,099

-

DEPRECIATION

At 1 April 2016

2,025

-

1,375

Charge for year

-

-

-

Eliminated on disposal

-

-

(1,375

)

At 31 March 2017

2,025

-

-

NET BOOK VALUE

At 31 March 2017

1,419,339

1,099

-

At 31 March 2016

1,419,339

1,099

2,750

Fixtures,

fittings

Motor

& equipment

vehicles

Totals

£

£

£

COST OR VALUATION

At 1 April 2016

342,817

18,763

1,788,168

Disposals

-

(18,763

)

(22,888

)

At 31 March 2017

342,817

-

1,765,280

DEPRECIATION

At 1 April 2016

288,978

12,826

305,204

Charge for year

8,076

-

8,076

Eliminated on disposal

-

(12,826

)

(14,201

)

At 31 March 2017

297,054

-

299,079

NET BOOK VALUE

At 31 March 2017

45,763

-

1,466,201

At 31 March 2016

53,839

5,937

1,482,964

Cost or valuation at 31 March 2017 is represented by:

Fixtures,

Freehold

Leasehold

fittings

property

property

& equipment

Totals

£

£

£

£

Valuation in 1994

205,231

-

-

205,231

Valuation in 2011

1,042,418

-

-

1,042,418

Cost

173,715

1,099

342,817

517,631

1,421,364

1,099

342,817

1,765,280

The freehold property was valued on an open market basis on 28 April 2011 by Burnett Davies Chartered Surveyors

.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST OR VALUATION

At 1 April 2016

18,763

Disposals

(18,763

)

At 31 March 2017

-

DEPRECIATION

At 1 April 2016

12,826

Eliminated on disposal

(12,826

)

At 31 March 2017

-

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

5,937

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

as restated

£

£

Other debtors

46

-

Prepayments and accrued income

-

2,135

46

2,135

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

as restated

£

£

Bank loans and overdrafts

-

108,319

Hire purchase contracts

-

10,778

Trade creditors

-

7,519

Corporation tax

7,703

720

Social security and other taxes

-

5,277

Other creditors

214,907

-

Deposits and full payments in advance

-

23,909

Directors' current accounts

25,001

20,239

Accrued expenses

2,824

4,001

250,435

180,762

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

as restated

£

£

Bank loans - 1-2 years

-

11,415

Bank loans - 2-5 years

-

36,766

Bank loan >5 years

-

89,053

-

137,234

Amounts falling due in more than five years:

Repayable by instalments

Bank loan >5 years

-

89,053

8.

RESERVES

Revaluation

reserve

£

At 1 April 2016

and 31 March 2017

1,247,649

9.	ULTIMATE CONTROLLING PARTY

The company was controlled by the Tarrant family in the previous and current period until 07/11/2016, by virtue

of the fact that they owned 100% of the company's issued ordinary share capital. On this date control was

transferred to Mr Martin Hill when he purchased 100% of the issued ordinary share capital.