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REGISTERED NUMBER: 00681667 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

Imperial Hotel (Gt.yarmouth) Limited

Imperial Hotel (Gt.yarmouth) Limited (Registered number: 00681667)

Contents of the Financial Statements
for the Year Ended 30 April 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


Imperial Hotel (Gt.yarmouth) Limited (Registered number: 00681667)

Balance Sheet
30 April 2023

2023 2022
Notes £ £
Fixed assets
Intangible assets 5 3,585 3,983
Tangible assets 6 1,534,043 1,973,378
1,537,628 1,977,361

Current assets
Stocks 35,949 33,941
Debtors 7 52,965 65,911
Cash at bank and in hand 258,439 767,827
347,353 867,679
Creditors
Amounts falling due within one year 8 (363,531 ) (564,496 )
Net current (liabilities)/assets (16,178 ) 303,183
Total assets less current liabilities 1,521,450 2,280,544

Creditors
Amounts falling due after more than one
year

9

(100,000

)

(151,570

)

Provisions for liabilities (229,918 ) (179,447 )
Net assets 1,191,532 1,949,527

Capital and reserves
Called up share capital 12,635 12,635
Retained earnings 10 1,178,897 1,936,892
1,191,532 1,949,527

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Imperial Hotel (Gt.yarmouth) Limited (Registered number: 00681667)

Balance Sheet - continued
30 April 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 July 2023 and were signed on its behalf by:





Mr G C Smith - Director


Imperial Hotel (Gt.yarmouth) Limited (Registered number: 00681667)

Notes to the Financial Statements
for the Year Ended 30 April 2023


1. Statutory information

Imperial Hotel (Gt.yarmouth) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00681667

Registered office: 13/15 North Drive
Great Yarmouth
Norfolk
NR30 1EQ

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of twenty five years.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Imperial Hotel (Gt.yarmouth) Limited (Registered number: 00681667)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


3. Accounting policies - continued

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.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Imperial Hotel (Gt.yarmouth) Limited (Registered number: 00681667)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


3. Accounting policies - continued

Tangible fixed assets
Tangible fixed 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 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 - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Fixtures and fittings -10% on cost

Employee ownership trust
The company established the Imperial Hotel (Gt. Yarmouth) EOT Trustee Company Limited to enable shares in the company to be held by the trustees for the benefit of the company's employees. Distributions made to the company are treated as gifts to the trust so that the trust can meet its obligations.

4. Employees and directors

The average number of employees during the year was 68 (2022 - 60 ) .

5. Intangible fixed assets
Website
£
Cost
At 1 May 2022
and 30 April 2023 6,750
Amortisation
At 1 May 2022 2,767
Amortisation for year 398
At 30 April 2023 3,165
Net book value
At 30 April 2023 3,585
At 30 April 2022 3,983

Imperial Hotel (Gt.yarmouth) Limited (Registered number: 00681667)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


6. Tangible fixed assets
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£ £ £ £ £
Cost
At 1 May 2022 1,559,023 324,227 1,170,283 31,012 3,084,545
Additions - 13,774 1,670 - 15,444
Disposals (412,080 ) - - - (412,080 )
At 30 April 2023 1,146,943 338,001 1,171,953 31,012 2,687,909
Depreciation
At 1 May 2022 - 151,791 937,558 21,818 1,111,167
Charge for year - 17,588 23,272 1,839 42,699
At 30 April 2023 - 169,379 960,830 23,657 1,153,866
Net book value
At 30 April 2023 1,146,943 168,622 211,123 7,355 1,534,043
At 30 April 2022 1,559,023 172,436 232,725 9,194 1,973,378

7. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 30,375 22,209
Other debtors 22,590 43,702
52,965 65,911

8. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts - 40,717
Trade creditors 80,158 97,324
Taxation and social security 122,488 95,510
Other creditors 160,885 330,945
363,531 564,496

Included within creditors due within one year is an amount of £nil (2022 : £20,799) secured over property owned by the company.

Imperial Hotel (Gt.yarmouth) Limited (Registered number: 00681667)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans - 103,451
Other creditors 100,000 48,119
100,000 151,570

Included within creditors due after more than one year is an amount of £nil (2022 : £40,027) secured over property owned by the company.

10. Reserves
Retained
earnings
£

At 1 May 2022 1,936,892
Profit for the year 202,479
Dividends (11,000 )
Non income distribution (949,474 )
At 30 April 2023 1,178,897

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.

11. Related party disclosure

On 5 April 2023 all of the issued ordinary A shares of the company were acquired by Imperial Hotel (Gt. Yarmouth) EOT Trustee Company Limited (the " trust"). The trust holds shares for the benefit of the company's current and future employees.

During the year the company settled set up costs on behalf of the Employees Ownership Trust totalling £35,000.

12. Security

The company has provided security to the former owners of Imperial Hotel (Gt. Yarmouth) Limited Mr and Mrs Mobbs by way of a fixed and floating charge over the assets on behalf of the Employee Ownership Trust.