Melvich Hotel Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC330482 (Scotland)

Melvich Hotel Ltd

Financial Statements For The Year Ended 31 March 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R A Wyke

SECRETARY:

Mrs J Wyke

REGISTERED OFFICE:

Melvich

Thurso

Caithness

KW14 7YJ

REGISTERED NUMBER:

SC330482 (Scotland)

ACCOUNTANTS:

The Long Partnership

Chartered Accountants

Chartered Tax Advisers

3a Princes Street

Thurso

Caithness

KW14 7BQ

FIXED ASSETS

Intangible assets

4

70,000

70,000

Tangible assets

5

231,564

236,965

301,564

306,965

CURRENT ASSETS

Stocks

20,225

15,998

Debtors

6

11,196

9,829

Cash at bank and in hand

46,382

52,249

77,803

78,076

CREDITORS

Amounts falling due within one year

7

9,210

13,049

NET CURRENT ASSETS

68,593

65,027

TOTAL ASSETS LESS CURRENT LIABILITIES

370,157

371,992

CREDITORS

Amounts falling due after more than one year

8

(457,418

)

(457,418

)

ACCRUALS AND DEFERRED INCOME

9

(4,759

)

(5,061

)

NET LIABILITIES

(92,020

)

(90,487

)

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

11

(93,020

)

(91,487

)

SHAREHOLDERS' FUNDS

(92,020

)

(90,487

)

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 December 2017 and were signed by:

R A Wyke - Director

1.	STATUTORY INFORMATION

Melvich Hotel Ltd is a private company, limited by shares , registered in Scotland. 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill is not depreciated and is subject to an annual impairment review.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Equipment

-

25% on reducing balance and 10% on cost

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.

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 10 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

70,000

NET BOOK VALUE

At 31 March 2017

70,000

At 31 March 2016

70,000

5.	TANGIBLE FIXED ASSETS

Land and

buildings

Equipment

Totals

£

£

£

COST

At 1 April 2016

266,961

59,551

326,512

Additions

-

2,886

2,886

At 31 March 2017

266,961

62,437

329,398

DEPRECIATION

At 1 April 2016

37,924

51,623

89,547

Charge for year

4,281

4,006

8,287

At 31 March 2017

42,205

55,629

97,834

NET BOOK VALUE

At 31 March 2017

224,756

6,808

231,564

At 31 March 2016

229,037

7,928

236,965

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

-

6,812

Other debtors

11,196

3,017

11,196

9,829

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

2,038

2,650

Taxation and social security

1,564

306

Other creditors

5,608

10,093

9,210

13,049

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Other creditors

457,418

457,418

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Loan from Director

457,418

457,418

9.	ACCRUALS AND DEFERRED INCOME

31.3.17

31.3.16

£

£

Deferred government grants

4,759

5,061

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

1,000

Ordinary

£1

1,000

1,000

11.

RESERVES

Retained

earnings

£

At 1 April 2016

(91,487

)

Deficit for the year

(1,533

)

At 31 March 2017

(93,020

)

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R A Wyke.

13.	FIRST YEAR ADOPTION

This is the first year in which the financial statements have been prepared in accordance with FRS 102. In

previous years the financial statements have been prepared in accordance with the Financial Reporting Standard

for Smaller Entities (The FRSSE).

The adoption of FRS 102 has not resulted in any changes to the recognition and measurement principles

previously adopted.