Ashton Lodge Hotel Limited - Accounts to registrar (filleted) - small 17.3
Ashton Lodge Hotel Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2017 |
| FOR |
| ASHTON LODGE HOTEL LIMITED |
| ASHTON LODGE HOTEL LIMITED (REGISTERED NUMBER: 07779440) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 30 November 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| ASHTON LODGE HOTEL LIMITED |
| COMPANY INFORMATION |
| for the year ended 30 November 2017 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Magma House |
| 16 Davy Court |
| Castle Mound Way |
| Rugby |
| CV23 0UZ |
| ASHTON LODGE HOTEL LIMITED (REGISTERED NUMBER: 07779440) |
| BALANCE SHEET |
| 30 November 2017 |
| 2017 | 2016 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Other reserves | 9 |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 director on |
| ASHTON LODGE HOTEL LIMITED (REGISTERED NUMBER: 07779440) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 30 November 2017 |
| 1. | STATUTORY INFORMATION |
| Ashton Lodge Hotel Limited is a private company, limited by shares, registered in England and Wales. The |
| company's registered number is 07779440 and the registered office address is Street Ashton, Stretton Under |
| Fosse, Rugby, Warwickshire, CV23 0PJ. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The principal accounting policies applied in the preparation of these financial statements are set out below. |
| These policies have been consistently applied to all years presented, unless otherwise stated. The company has |
| adopted FRS 102 (September 2015) 1A Small Entities in these financial statements. Details of the transition to |
| FRS 102 Section 1A Small Entities are disclosed in the notes to the financial statements. |
| This is the first year in which the financial statements have been prepared under FRS102 1A Small Entities. |
| The comparative figures for the year ended 30 November 2016 have been restated throughout these financial |
| statements. |
| The financial statements are presented in £ sterling. |
| Going concern |
| The director have prepared the financial statements on a going concern basis. The company has made a profit |
| of £102,402 for the year ended 30 November 2017 and had net current liabilities of £24,680. The director is |
| confident that the company will be able to meet its liabilities as they fall due for the foreseeable future. |
| Turnover |
| Revenue is measured at the fair value of the consideration received or receivable and represents the amount |
| receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the |
| company and value added taxes. |
| The company recognises revenue when (a) the significant risks and rewards of ownership have been transferred |
| to the buyer; (b) the company retains no continuing involvement or control over the goods; (c) the amount of |
| revenue can be measured reliably; (d) it is probable that future economic benefits will flow to the entity and (e) |
| when the specific criteria relating to the company's sales channels have been met. |
| Deposits which have been received at the balance sheet date for which services have not yet been provided are |
| shown within other creditors. |
| Tangible fixed assets |
| Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated |
| impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the |
| location and condition necessary for it to be capable of operating in the manner intended by management. |
| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful |
| lives, using either a straight line or reducing balance method, as indicated below. |
| Depreciation is provided on the following basis: |
| Plant and machinery etc. | - 25% on reducing balance |
| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if |
| appropriate, or if there is an indication of a significant change since the last reporting date. |
| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are |
| recognised in profit or loss. |
| No provision for depreciation is made on freehold land and buildings. It is in the opinion of the directors that the |
| life of the assets are so long and their residual value so high, that depreciation is insignificant. In accordance |
| with FRS 102 annual impairment reviews are undertaken to confirm this treatment. |
| ASHTON LODGE HOTEL LIMITED (REGISTERED NUMBER: 07779440) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 November 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Stocks |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based |
| on the cost of purchase on a first in, first out basis. |
| At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is |
| reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in |
| profit or loss. |
| Financial instruments |
| The Company only enters into basic financial instrument transactions that result in the recognition of financial |
| assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to |
| related parties and investments in non-puttable ordinary shares. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period |
| for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is |
| recognised in profit or loss. |
| Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an |
| enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise |
| the asset and settle the liability simultaneously. |
| Taxation |
| The tax expense for the year comprises current and deferred tax. |
| Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised |
| as other comprehensive income or to an item recognised directly in equity is also recognised in other |
| comprehensive income or directly in equity respectively. |
| Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by |
| the Balance Sheet date, except that: |
| - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered |
| against the reversal of deferred tax liabilities or other future taxable profits; and |
| - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have |
| been met. |
| Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively |
| enacted by the balance sheet date. |
| 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. |
| Debtors |
| Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the |
| arrangement constitutes a financing transaction, where the transaction is measured at the present value of the |
| future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost |
| using the effective interest method, less any impairment. |
| Cash and cash equivalents |
| Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and |
| other short-term highly liquid investments that mature in no more than three months from the date of acquisition |
| and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
| ASHTON LODGE HOTEL LIMITED (REGISTERED NUMBER: 07779440) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 November 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Creditors |
| Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related |
| parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, |
| where the debt instrument is measured at the present value of the future payments discounted at a market rate |
| of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less |
| any impairment. |
| Share capital |
| Ordinary shares are classified as equity. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 December 2016 |
| Additions |
| At 30 November 2017 |
| DEPRECIATION |
| At 1 December 2016 |
| Charge for year |
| At 30 November 2017 |
| NET BOOK VALUE |
| At 30 November 2017 |
| At 30 November 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| ASHTON LODGE HOTEL LIMITED (REGISTERED NUMBER: 07779440) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 November 2017 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans | 181,212 | 212,902 |
| 8. | PROVISIONS FOR LIABILITIES |
| 2017 | 2016 |
| £ | £ |
| Deferred tax | 27,381 | 17,995 |
| Deferred |
| tax |
| £ |
| Balance at 1 December 2016 |
| Charge to Income Statement during year |
| Balance at 30 November 2017 |
| 9. | RESERVES |
| Profit | Restated |
| and loss | Other |
| accounts | reserves | Totals |
| £ | £ | £ |
| At 1 December 2016 | 268,279 | 549,522 | 817,801 |
| Profit for the year | 102,402 | - | 102,402 |
| Dividends | (50,000 | ) | - | (50,000 | ) |
| At 30 November 2017 | 320,681 | 549,522 | 870,203 |
| In the view of the director it is more appropriate that these reserves be classified as other reserves rather than |
| share premium to ensure it has been appropriately accounted for under the Companies Act 2006. |
| 10. | FIRST YEAR ADOPTION |
| This the first year that the company has presented its results under FRS 102. The last financial statements under |
| UK GAAP were for the year ended 30 November 2016. The date of transition to FRS 102 was 1 December 2015. |
| There are no transitional adjustments arising from the first time adoption of FRS 102. |