ACCOUNTS - Final Accounts preparation
ACCOUNTS - Final Accounts preparation
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Registered number:
Unaudited
Information for filing with the registrar
For the period ended
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Granby Hotel (Kent) Limited
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Granby Hotel (Kent) Limited for the period ended 31 October 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 Granby Hotel (Kent) Limited for the Period ended 31 October 2017 which comprise the Profit and loss account, the Balance sheet and the related notes from the Company 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 http://www.icaew.com/en/ members/regulations-standards-and-guidance/.
This report is made solely to the Board of directors of Granby Hotel (Kent) Limited, as a body, in accordance with the terms of our engagement letter dated 8 November 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Granby Hotel (Kent) Limited and state those matters that we have agreed to state to the Board of directors of Granby Hotel (Kent) Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Granby Hotel (Kent) Limited and its Board of directors, as a body, for our work or for this report.
It is your duty to ensure that Granby Hotel (Kent) 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 or loss of Granby Hotel (Kent) Limited. You consider that Granby Hotel (Kent) Limited is exempt from the statutory audit requirement for the Period.
Chartered Accountants
37 St Margaret's Street
Kent
CT1 2TU
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Granby Hotel (Kent) Limited
Registered number: 10264220
Balance sheet
As at
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 3 to 5 form part of these financial statements.
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Granby Hotel (Kent) Limited
Notes to the financial statements
For the period ended 31 October 2017
Granby Hotel (Kent) Limited is a private company limited by shares and is incorporated in England and Wales with the registration number 10264220. The address of the registered office is 1 The Hill, Northfleet, Kent, United Kingdom DA11 9ES.
The financial statements are presented in pounds Sterling, and are rounded to the nearest pound.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads.
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.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Granby Hotel (Kent) Limited
Notes to the financial statements
For the period ended 31 October 2017
2.Accounting policies (continued)
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Interest income is recognised in the Statement of comprehensive income using the effective interest method.
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Granby Hotel (Kent) Limited
Notes to the financial statements
For the period ended 31 October 2017
During the period 1 ordinary share of £1 was issued, this was fully paid.
The company is a wholly owned subsidiary undertaking of Cubfield Limited.
In turn that company is controlled by Mr and Mrs Dawe, by virtue of their 100% holding in the share capital of Cubfield Limited. A copy of the group accounts of which the company forms a part can be obtained from the Company Secretary of Cubfield Limited at the following address: 1 The Hill Northfleet Kent DA11 9ES
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