MPC Hotels Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07248525 (England and Wales)

Unaudited Financial Statements For The Year Ended 31st May 2017

for

MPC Hotels Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr M Christophi

REGISTERED OFFICE:

c/o Aston Shaw

The Union Building

51-59 Rose Lane

Norwich

Norfolk

NR1 1BY

REGISTERED NUMBER:

07248525 (England and Wales)

ACCOUNTANTS:

Aston Shaw Ltd

The Union Building

51-59 Rose Lane

Norwich

Norfolk

NR1 1BY

FIXED ASSETS

Tangible assets

4

171,833

166,472

CURRENT ASSETS

Stocks

5

18,500

14,136

Debtors

6

246,318

157,024

Cash at bank and in hand

78,535

132,914

343,353

304,074

CREDITORS

Amounts falling due within one year

7

219,823

216,999

NET CURRENT ASSETS

123,530

87,075

TOTAL ASSETS LESS CURRENT LIABILITIES

295,363

253,547

CREDITORS

Amounts falling due after more than one year

8

166,656

253,541

NET ASSETS

128,707

6

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

128,705

4

SHAREHOLDERS' FUNDS

128,707

6

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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 28th February 2018 and were signed by:

Mr M Christophi - Director

1.	STATUTORY INFORMATION

MPC Hotels Ltd 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.

Changes in accounting policies

MPC Hotels Ltd reflects a small company so therefore uses accounting standard FRS 102.

Turnover

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

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Going concern

These financial statements have been prepared on the going concern basis. The Director

considers this basis to be appropriate but has not assessed a period in excess of 12 months from

the date of approving the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 55 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1st June 2016

308,458

8,000

3,552

320,010

Additions

33,468

-

150

33,618

At 31st May 2017

341,926

8,000

3,702

353,628

DEPRECIATION

At 1st June 2016

146,788

5,496

1,254

153,538

Charge for year

27,264

626

367

28,257

At 31st May 2017

174,052

6,122

1,621

181,795

NET BOOK VALUE

At 31st May 2017

167,874

1,878

2,081

171,833

At 31st May 2016

161,670

2,504

2,298

166,472

5.

STOCKS

31/5/17

31/5/16

£

£

Stocks

18,500

14,136

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/17

31/5/16

£

£

Trade debtors

68,991

38,566

Other debtors

132,892

77,905

Prepayments

44,435

40,553

246,318

157,024

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/17

31/5/16

£

£

Hire purchase contracts

17,010

16,955

Trade creditors

132,215

128,396

Social security and other taxes

-

3,395

VAT

32,065

20,824

Other creditors

10,000

10,000

Credit Card

1,909

6,704

Directors' loan accounts

-

14

Deposits

23,124

30,711

Accrued expenses

3,500

-

219,823

216,999

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/5/17

31/5/16

£

£

Hire purchase contracts

728

17,792

Other creditors

165,928

235,749

166,656

253,541

9.	RELATED PARTY DISCLOSURES

The Director M Christophi, controlled another company, MPC Invest Ltd in the period under review.

The company paid rent to MPC Invest Ltd of £50,000 (2016 - £50,000) and paid for hire of

equipment of £21,000 (2016 - £21,000) in the period under review.

MPC Hotels Ltd incurred expenditure of £42,435 (2016 - £61,981) on behalf of MPC Invest Ltd, in

the period under review.

There was an amount owing to MPC Invest Ltd of £189,578 (2016 - £239,068) at the Balance

Sheet date. This amount is included within Other Creditors.

There was an amount transferred to Distinct Hotels during the period consisting of £51,648 (2016

- £10,883). This amount is included within Other Debtors.

The Director M Christophi was a Shareholder in Barns4Business Ltd in the period under review.

There was an amount owing from Barns4Business Ltd of £42,905 (2016 - £42,905) at the Balance

Sheet date. This amount is included within Other Debtors.

The Director M Christophi was also a Director of Distinct Hotels Ltd in the period under review. At

the balance sheet date Distinct Hotels Ltd owed MPC Hotels Ltd £54,967 (2016 - £3,319) at the

Balance Sheet date this was included within other creditors.

All transactions took place under normal commercial terms.

10.	ULTIMATE CONTROLLING PARTY

The company was controlled in this and the preceding period by the Director, M Christophi by

virtue of his shareholding.