Year Ended
Registration number:
Acorn Hotels Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Acorn Hotels Limited
Company Information
Directors |
R S Williams K M Williams |
Company secretary |
K M Williams |
Registered office |
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Accountants |
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Acorn Hotels Limited
Balance Sheet
31 December 2021
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2021 |
2020 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Acorn Hotels Limited
Balance Sheet
31 December 2021
For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 02162404
Acorn Hotels Limited
Notes to the Financial Statements
Year Ended 31 December 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
The Walnut Tree
North Petherton
South of Bridgwater
Somerset
TA6 6QA
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Generally, turnover is the value of goods and services sold to third parties as part of the company's trading activities, after deducting VAT.
The rental of rooms and food and beverage sales is recognised when rooms are occupied and food and beverages are sold.
Rental income is recognised when it is receivable.
Government grants
Grant income is accounted for using the accruals method. Revenue grants are recognised on a systematic basis over the periods to which the costs to which the grants relate are recognised. Capital grants are recognised over the useful life of the related asset on the same basis as depreciation is charged.
Acorn Hotels Limited
Notes to the Financial Statements
Year Ended 31 December 2021
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Hotel Facilities |
10% straight line |
Equipment |
25% straight line |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
5% straight line |
Defined contribution pension obligation
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
Acorn Hotels Limited
Notes to the Financial Statements
Year Ended 31 December 2021
Covid-19
The directors of Acorn Hotels Limited have considered the impact of COVID-19.
In the opinion of the directors, the company has sufficient working capital within existing facilities to continue to trade for the foreseeable future, and therefore the financial statements have been prepared on a going concern basis.
Government grants |
During the year the company received the following grants:
- £83,054 Coronavirus Job Retention Scheme
- £42,086 Coronavirus Support
The amount of grants recognised in the financial statements was £125,140 (2020 - £125,443).
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 January 2021 |
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At 31 December 2021 |
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Amortisation |
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At 1 January 2021 |
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Amortisation charge |
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At 31 December 2021 |
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Carrying amount |
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At 31 December 2021 |
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At 31 December 2020 |
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Acorn Hotels Limited
Notes to the Financial Statements
Year Ended 31 December 2021
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2021 |
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Additions |
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At 31 December 2021 |
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Depreciation |
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At 1 January 2021 |
- |
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Charge for the year |
- |
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At 31 December 2021 |
- |
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Carrying amount |
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At 31 December 2021 |
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At 31 December 2020 |
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Debtors |
2021 |
2020 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2021 |
2020 |
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Due within one year |
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Loans and borrowings |
- |
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Trade creditors |
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Social security and other taxes |
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Outstanding defined contribution pension costs |
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Accrued expenses |
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Acorn Hotels Limited
Notes to the Financial Statements
Year Ended 31 December 2021
Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
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No. |
£ |
No. |
£ |
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Ordinary shares of £1 each |
229,275 |
229,275 |
229,275 |
229,275 |
Related party transactions |
Advances to directors |
2021 |
At 1 January 2021 |
Advances to director |
Repayments by director |
At 31 December 2021 |
R S Williams and K M Williams |
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Interest charged at HMRC official rate |
12,404 |
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2020 |
At 1 January 2020 |
Advances to director |
Repayments by director |
At 31 December 2020 |
R S Williams and K M Williams |
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Interest charged at HMRC official rate |
7,155 |
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( |
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