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Registered Number: 08195702
England and Wales

 

 

 

ADVOCATE ARMS HOTEL LTD


Abridged Accounts
 


Period of accounts

Start date: 01 December 2020

End date: 30 November 2021
 
 
Notes
 
2021
£
  2020
£
Fixed assets      
Tangible fixed assets 754,800    676,454 
754,800    676,454 
Current assets      
Stocks 8,818    4,994 
Debtors 239,096    240,637 
Cash at bank and in hand 124,616    102,852 
372,530    348,483 
Creditors: amount falling due within one year (283,328)   (209,714)
Net current assets 89,202    138,769 
 
Total assets less current liabilities 844,002    815,223 
Creditors: amount falling due after more than one year (475,021)   (536,153)
Provisions for liabilities (19,178)   5,561 
Net assets 349,803    284,631 
 

Capital and reserves
     
Called up share capital 120    120 
Profit and loss account 349,683    284,511 
Shareholder's funds 349,803    284,631 
 


For the year ended 30 November 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 09 August 2022 and were signed by:


--------------------------------
T D Lince
Director
1
General Information
Advocate Arms Hotel Ltd is a private company, limited by shares, registered in England and Wales, registration number 08195702, registration address 17 Old Courts Road, Brigg, DN20 8JD.

The presentation currency is £ sterling and rounded to the nearest £. These financial statements cover the individual entity Advocate Arms Hotel Ltd.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
Specifically in connection with the current economic climate, the directors have considered the impact of COVID-19 on the business and they are satisfied that the company has sufficient financial headroom to continue trading for at least the next twelve months.  For this reason the financial statements have been prepared on a going concern basis.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
The White Swan and Advocate Arms Hotel Market Rasen 4% Straight Line
Electrical & IT equipment 33% Straight Line
Motor Vehicles 25% Straight Line
Fixtures and Fittings 25% Straight Line
Room furniture 20% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 17 (2020 : 14).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 December 2020 40,000    40,000 
Additions  
Disposals  
At 30 November 2021 40,000    40,000 
Amortisation
At 01 December 2020 40,000    40,000 
Charge for year  
On disposals  
At 30 November 2021 40,000    40,000 
Net book values
At 30 November 2021  
At 30 November 2020  


4.

Tangible fixed assets

Cost or valuation Room furniture   Motor Vehicles   Electrical & IT equipment   Fixtures and Fittings   The White Swan and Advocate Arms Hotel Market Rasen   Total
  £   £   £   £   £   £
At 01 December 2020 13,358    9,829    14,049    62,213    794,778    894,227 
Additions 4,503    139,324    833    3,641      148,301 
Disposals          
At 30 November 2021 17,861    149,153    14,882    65,854    794,778    1,042,528 
Depreciation
At 01 December 2020 10,735    9,829    13,039    52,389    131,781    217,773 
Charge for year 1,550    31,929    404    4,281    31,791    69,955 
On disposals          
At 30 November 2021 12,285    41,758    13,443    56,670    163,572    287,728 
Net book values
Closing balance as at 30 November 2021 5,576    107,395    1,439    9,184    631,206    754,800 
Opening balance as at 01 December 2020 2,623      1,010    9,824    662,997    676,454 


5.

Pension costs

The company operates a defined contribution pension scheme.  Contributions payable to the company's pension scheme are charged to the profit and loss in the period to which they relate.
6.

Bank borrowings

The bank loans are secured by a charge over The White Swan, Market Rasen and The Advocate Arms Hotel, Market Rasen.

A personal guarantee was provided by the director for the bank loan.

Included with Bank loans and overdrafts is an amount of £50,000 advanced by the company's bankers in respect of the Government Bounce Back Loan. This loan is repayable in equal instalments over 120 months commencing June 2021. Interest is payable on the loan at a rate of 2.5%.
2