5
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2021-05-01
Sage Accounts Production Advanced 2021 - FRS102_2021
152,500
22,875
7,625
30,500
122,000
129,625
xbrli:pure
xbrli:shares
iso4217:GBP
11322625
2021-05-01
2022-04-30
11322625
2022-04-30
11322625
2021-04-30
11322625
2020-05-01
2021-04-30
11322625
2021-04-30
11322625
core:NetGoodwill
2021-05-01
2022-04-30
11322625
core:PlantMachinery
2021-05-01
2022-04-30
11322625
core:FurnitureFittings
2021-05-01
2022-04-30
11322625
bus:Director1
2021-05-01
2022-04-30
11322625
bus:Director2
2021-05-01
2022-04-30
11322625
core:NetGoodwill
2021-04-30
11322625
core:NetGoodwill
2022-04-30
11322625
core:PlantMachinery
2021-04-30
11322625
core:FurnitureFittings
2021-04-30
11322625
core:PlantMachinery
2022-04-30
11322625
core:FurnitureFittings
2022-04-30
11322625
core:WithinOneYear
2022-04-30
11322625
core:WithinOneYear
2021-04-30
11322625
core:AfterOneYear
2022-04-30
11322625
core:AfterOneYear
2021-04-30
11322625
core:ShareCapital
2022-04-30
11322625
core:ShareCapital
2021-04-30
11322625
core:RetainedEarningsAccumulatedLosses
2022-04-30
11322625
core:RetainedEarningsAccumulatedLosses
2021-04-30
11322625
core:NetGoodwill
2021-04-30
11322625
core:PlantMachinery
2021-04-30
11322625
core:FurnitureFittings
2021-04-30
11322625
bus:SmallEntities
2021-05-01
2022-04-30
11322625
bus:AuditExemptWithAccountantsReport
2021-05-01
2022-04-30
11322625
bus:FullAccounts
2021-05-01
2022-04-30
11322625
bus:SmallCompaniesRegimeForAccounts
2021-05-01
2022-04-30
11322625
bus:PrivateLimitedCompanyLtd
2021-05-01
2022-04-30
COMPANY REGISTRATION NUMBER:
11322625
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
30 April 2022
Fixed assets
Intangible assets |
5 |
122,000 |
129,625 |
Tangible assets |
6 |
24,900 |
18,711 |
|
--------- |
--------- |
|
146,900 |
148,336 |
|
|
|
|
Current assets
Debtors |
7 |
4,946 |
6,041 |
Cash at bank and in hand |
21,835 |
47,245 |
|
-------- |
-------- |
|
26,781 |
53,286 |
|
|
|
|
Creditors: amounts falling due within one year |
8 |
146,541 |
178,945 |
|
--------- |
--------- |
Net current liabilities |
119,760 |
125,659 |
|
--------- |
--------- |
Total assets less current liabilities |
27,140 |
22,677 |
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
49,959 |
57,904 |
|
-------- |
-------- |
Net liabilities |
(
22,819) |
(
35,227) |
|
-------- |
-------- |
|
|
|
|
Capital and reserves
Called up share capital |
100 |
100 |
Profit and loss account |
(
22,919) |
(
35,327) |
|
-------- |
-------- |
Shareholders deficit |
(
22,819) |
(
35,227) |
|
-------- |
-------- |
|
|
|
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued) |
|
30 April 2022
These financial statements were approved by the
board of directors
and authorised for issue on
12 July 2022
, and are signed on behalf of the board by:
Mr G Preece |
Ms M G Leone Lemos |
Director |
Director |
|
|
Company registration number:
11322625
Notes to the Financial Statements |
|
Year ended 30 April 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Esplanade Hotel, Esplanade, Tenby, SA70 7DU.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company is continuing on a going concern basis despite the loss in the current year. The company undertook major renovations of the hotel building during the off peak period and had anticipated the summer season would more than cover the costs which had been incurred. Unfortunately, the Covid-19 pandemic resulted in a lockdown of the business just as the peak season was about to start and this has impacted on the final result for the year. Currently, the directors consider that the business can reach approximately 50% of its peak season turnover provided the lockdown is eased in the way that is currently anticipated. In order to ensure survival, should the lockdown be extended, the company has applied for, and received, a Government backed Bounce Back loan in addition to a grant from the Welsh Government.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There were no significant judgements or estimations used in these accounts.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill |
- |
10% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and machinery |
- |
15% reducing balance |
|
Fixtures and fittings |
- |
15% reducing balance |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
5
(2021:
5
).
5.
Intangible assets
|
Goodwill |
|
£ |
Cost |
|
At 1 May 2021 and 30 April 2022 |
152,500 |
|
--------- |
Amortisation |
|
At 1 May 2021 |
22,875 |
Charge for the year |
7,625 |
|
--------- |
At 30 April 2022 |
30,500 |
|
--------- |
Carrying amount |
|
At 30 April 2022 |
122,000 |
|
--------- |
At 30 April 2021 |
129,625 |
|
--------- |
|
|
6.
Tangible assets
|
Plant and machinery |
Fixtures and fittings |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 May 2021 |
5,839 |
20,865 |
26,704 |
Additions |
6,540 |
10,455 |
16,995 |
Disposals |
– |
(
10,000) |
(
10,000) |
|
-------- |
-------- |
-------- |
At 30 April 2022 |
12,379 |
21,320 |
33,699 |
|
-------- |
-------- |
-------- |
Depreciation |
|
|
|
At 1 May 2021 |
1,206 |
6,787 |
7,993 |
Charge for the year |
1,676 |
2,718 |
4,394 |
Disposals |
– |
(
3,588) |
(
3,588) |
|
-------- |
-------- |
-------- |
At 30 April 2022 |
2,882 |
5,917 |
8,799 |
|
-------- |
-------- |
-------- |
Carrying amount |
|
|
|
At 30 April 2022 |
9,497 |
15,403 |
24,900 |
|
-------- |
-------- |
-------- |
At 30 April 2021 |
4,633 |
14,078 |
18,711 |
|
-------- |
-------- |
-------- |
|
|
|
|
7.
Debtors
|
2022 |
2021 |
|
£ |
£ |
Trade debtors |
4,946 |
3,118 |
Other debtors |
– |
2,923 |
|
------- |
------- |
|
4,946 |
6,041 |
|
------- |
------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2022 |
2021 |
|
£ |
£ |
Bank loans and overdrafts |
11,877 |
14,476 |
Trade creditors |
9,028 |
5,405 |
Social security and other taxes |
5,808 |
– |
Other creditors |
119,828 |
159,064 |
|
--------- |
--------- |
|
146,541 |
178,945 |
|
--------- |
--------- |
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2022 |
2021 |
|
£ |
£ |
Bank loans and overdrafts |
49,959 |
57,904 |
|
-------- |
-------- |
|
|
|