Chatsworth Hotel (Llandudno) Limited 02687033 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is that of an hotel. Digita Accounts Production Advanced 6.30.9574.0 true false true true true 02687033 2022-03-01 2023-02-28 02687033 2023-02-28 02687033 bus:OrdinaryShareClass1 2023-02-28 02687033 core:RetainedEarningsAccumulatedLosses 2023-02-28 02687033 core:ShareCapital 2023-02-28 02687033 core:CurrentFinancialInstruments 2023-02-28 02687033 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 02687033 core:Non-currentFinancialInstruments 2023-02-28 02687033 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 02687033 core:LandBuildings 2023-02-28 02687033 core:OtherPropertyPlantEquipment 2023-02-28 02687033 core:OtherRelatedParties 2023-02-28 02687033 bus:SmallEntities 2022-03-01 2023-02-28 02687033 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 02687033 bus:FullAccounts 2022-03-01 2023-02-28 02687033 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 02687033 bus:RegisteredOffice 2022-03-01 2023-02-28 02687033 bus:Director2 2022-03-01 2023-02-28 02687033 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 02687033 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 02687033 core:LandBuildings 2022-03-01 2023-02-28 02687033 core:OtherPropertyPlantEquipment 2022-03-01 2023-02-28 02687033 core:PlantMachinery 2022-03-01 2023-02-28 02687033 core:AllSubsidiaries 2022-03-01 2023-02-28 02687033 core:OtherRelatedParties 2022-03-01 2023-02-28 02687033 core:Subsidiary1 2022-03-01 2023-02-28 02687033 core:Subsidiary1 1 2022-03-01 2023-02-28 02687033 core:Subsidiary1 countries:AllCountries 2022-03-01 2023-02-28 02687033 core:Subsidiary2 2022-03-01 2023-02-28 02687033 core:Subsidiary2 1 2022-03-01 2023-02-28 02687033 core:Subsidiary2 countries:AllCountries 2022-03-01 2023-02-28 02687033 countries:EnglandWales 2022-03-01 2023-02-28 02687033 2022-02-28 02687033 core:CostValuation 2022-02-28 02687033 core:LandBuildings 2022-02-28 02687033 core:OtherPropertyPlantEquipment 2022-02-28 02687033 core:OtherRelatedParties 2022-02-28 02687033 2021-03-01 2022-02-28 02687033 2022-02-28 02687033 bus:OrdinaryShareClass1 2022-02-28 02687033 core:RetainedEarningsAccumulatedLosses 2022-02-28 02687033 core:ShareCapital 2022-02-28 02687033 core:CurrentFinancialInstruments 2022-02-28 02687033 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 02687033 core:Non-currentFinancialInstruments 2022-02-28 02687033 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-28 02687033 core:LandBuildings 2022-02-28 02687033 core:OtherPropertyPlantEquipment 2022-02-28 02687033 core:OtherRelatedParties 2022-02-28 02687033 bus:OrdinaryShareClass1 2021-03-01 2022-02-28 02687033 core:OtherRelatedParties 2021-03-01 2022-02-28 02687033 core:Subsidiary1 1 2021-03-01 2022-02-28 02687033 core:Subsidiary2 1 2021-03-01 2022-02-28 02687033 2021-02-28 02687033 core:OtherRelatedParties 2021-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02687033

Chatsworth Hotel (Llandudno) Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

Chatsworth Hotel (Llandudno) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Chatsworth Hotel (Llandudno) Limited

Company Information

Director

P Juneja

Registered office

Central Promenade
Llandudno
LL30 2XS

Accountants

Aston Hughes & Co
Chartered Accountants
Selby Towers
29 Princes Drive
Colwyn Bay
LL29 8PE

 

Chatsworth Hotel (Llandudno) Limited

(Registration number: 02687033)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

940,628

942,528

Investments

5

200

200

 

940,828

942,728

Current assets

 

Stocks

6

12,208

12,791

Debtors

7

133,050

20,036

Cash at bank and in hand

 

587,975

656,408

 

733,233

689,235

Creditors: Amounts falling due within one year

8

(168,428)

(179,493)

Net current assets

 

564,805

509,742

Total assets less current liabilities

 

1,505,633

1,452,470

Creditors: Amounts falling due after more than one year

8

(767,973)

(806,773)

Net assets

 

737,660

645,697

Capital and reserves

 

Called up share capital

9

300

300

Retained earnings

737,360

645,397

Shareholders' funds

 

737,660

645,697

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 October 2023
 

 

Chatsworth Hotel (Llandudno) Limited

(Registration number: 02687033)
Balance Sheet as at 28 February 2023

.........................................
P Juneja
Director

 

Chatsworth Hotel (Llandudno) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Central Promenade
Llandudno
LL30 2XS

These financial statements were authorised for issue by the director on 2 October 2023.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Chatsworth Hotel (Llandudno) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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

Plant and machinery

variable rates on reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Borrowings

 

Chatsworth Hotel (Llandudno) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 50 (2022 - 49).

4

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2022

936,441

195,461

1,131,902

At 28 February 2023

936,441

195,461

1,131,902

Depreciation

At 1 March 2022

-

189,374

189,374

Charge for the year

-

1,900

1,900

At 28 February 2023

-

191,274

191,274

Carrying amount

At 28 February 2023

936,441

4,187

940,628

At 28 February 2022

936,441

6,087

942,528

Included within the net book value of land and buildings above is £936,441 (2022 - £936,441) in respect of freehold land and buildings.
 

 

Chatsworth Hotel (Llandudno) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

5

Investments

2023
£

2022
£

Investments in subsidiaries

200

200

Subsidiaries

£

Cost or valuation

At 1 March 2022

200

Provision

Carrying amount

At 28 February 2023

200

At 28 February 2022

200

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Chatsworth Hotel Limited

Central Promenade
Llandudno

UK

Ordinary shares

100%

100%

Chatsworth House Hotel Limited

Central Promenade
Llandudno

UK

Ordinary shares

100%

100%

Subsidiary undertakings

Chatsworth Hotel Limited

The principal activity of Chatsworth Hotel Limited is Hotel ownership.

Chatsworth House Hotel Limited

The principal activity of Chatsworth House Hotel Limited is Hotel ownership.

 

Chatsworth Hotel (Llandudno) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

6

Stocks

2023
£

2022
£

Other inventories

12,208

12,791

7

Debtors

Current

2023
£

2022
£

Trade debtors

(13,057)

11,166

Other debtors

146,107

8,870

 

133,050

20,036

 

Chatsworth Hotel (Llandudno) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

10

10,000

8,000

Trade creditors

 

26,431

105,048

Taxation and social security

 

82,361

16,072

Other creditors

 

49,636

50,373

 

168,428

179,493

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

767,973

806,773

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

300

300

300

300

         

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

23,046

34,693

Other borrowings

744,927

772,080

767,973

806,773

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,000

8,000

 

Chatsworth Hotel (Llandudno) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

11

Dividends

Final dividends paid

   

2023
£

 

2022
£

Final dividend of £133.00 (2022 - £100.00) per each Ordinary shares

 

40,000

 

30,000

         

12

Related party transactions

Summary of transactions with subsidiaries

Chatsworth Hotel Limited
Chatsworth Hose Hotel Limited

 Loans
 

Summary of transactions with other related parties

New Loretta Hotel Limited
Baytree Hotel Limited

 Loans
 

Loans to related parties

2023

Other related parties
£

Total
£

Advanced

121,801

121,801

At end of period

121,801

121,801

Loans from related parties

2023

Other related parties
£

Total
£

At start of period

27,153

27,153

Repaid

(27,153)

(27,153)

At end of period

-

-

2022

Other related parties
£

Total
£

At start of period

21,705

21,705

Advanced

5,448

5,448

At end of period

27,153

27,153