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REGISTERED NUMBER: 13715199 (England and Wales)




















Unaudited Financial Statements

for the Period 1 November 2021 to 31 December 2022

for

Crest Hotels (Shifnal) Limited

Crest Hotels (Shifnal) Limited (Registered number: 13715199)






Contents of the Financial Statements
for the Period 1 November 2021 to 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Crest Hotels (Shifnal) Limited

Company Information
for the Period 1 November 2021 to 31 December 2022







DIRECTORS: G Singh
P Singh





REGISTERED OFFICE: Crest Hotels Group
Arnos Manor Hotel
470 Bath Road
Bristol
BS4 3HQ





REGISTERED NUMBER: 13715199 (England and Wales)

Crest Hotels (Shifnal) Limited (Registered number: 13715199)

Balance Sheet
31 December 2022

Notes £    £   
FIXED ASSETS
Intangible assets 4 1
Tangible assets 5 171,157
171,158

CURRENT ASSETS
Stocks 22,307
Debtors 6 24,770
Cash at bank and in hand 134,920
181,997
CREDITORS
Amounts falling due within one year 7 484,450
NET CURRENT LIABILITIES (302,453 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(131,295

)

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings (131,395 )
(131,295 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2022 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.

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 24 October 2023 and were signed on its behalf by:




G Singh - Director



P Singh - Director


Crest Hotels (Shifnal) Limited (Registered number: 13715199)

Notes to the Financial Statements
for the Period 1 November 2021 to 31 December 2022

1. STATUTORY INFORMATION

Crest Hotels (Shifnal) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


The company's main place of buisness is the Park House Hotel, Park Street, Shifnal, Shropshire TF11 9BA.

2. ACCOUNTING POLICIES

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

Going Concern
The company has net current liabilities. The company operates a hotel business in a hotel property which is leased from a fellow trading subsidiary Crest Hotels (Shropshire) Limited which is profitable. The company is being financially supported by the Group and its directors when required. As a consequence, the directors have a reasonable expectation that the company is well placed to manage its business risks successfully and accordingly adopts the going concern basis in preparing the annual report and accounts.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is recognised when the significant risks and rewards of the goods and services provided are transferred to the buyer, the amount of turnover can be measured reliably and it is probably that the economic benefits associated with the rendering transaction will flow to the company.

Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Turnover for the company comprises of the following streams:

1) Sale of goods - Turnover from the sale of food and beverages is recognised at the point of sale.

2) Rendering of services - Turnover from room sales and other guest services is recognised when rooms are occupied and as services are provided.

Goodwill
The company has recognised goodwill upon acqusition of the business of £1 which has not been amortised.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

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


Crest Hotels (Shifnal) Limited (Registered number: 13715199)

Notes to the Financial Statements - continued
for the Period 1 November 2021 to 31 December 2022

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 period 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 47 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 1
At 31 December 2022 1
NET BOOK VALUE
At 31 December 2022 1

Crest Hotels (Shifnal) Limited (Registered number: 13715199)

Notes to the Financial Statements - continued
for the Period 1 November 2021 to 31 December 2022

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
Additions 223,195
At 31 December 2022 223,195
DEPRECIATION
Charge for period 52,038
At 31 December 2022 52,038
NET BOOK VALUE
At 31 December 2022 171,157

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 4,939
Amounts owed by group undertakings 100
Prepayments and accrued income 19,731
24,770

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 51,633
Amounts owed to group undertakings 120,994
Social security and other taxes 9,586
VAT 40,926
Other creditors 182,007
Accrued expenses 79,304
484,450

8. RELATED PARTY DISCLOSURES

The company's ultimate parent is Crest Hotels 1 Ltd which holds 100% of the company. The ultimate controlling party is Mr G Singh and Mr P Singh.

At the year end, there is a creditor balance due to a company under common control of £56,000 which is interest free and is repayable on demand. During the year management fees of £30,000 were charged.