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REGISTERED NUMBER: 13714907 (England and Wales)




















Unaudited Financial Statements

for the Period 1 November 2021 to 31 December 2022

for

Crest Hotels (Shropshire) Limited

Crest Hotels (Shropshire) Limited (Registered number: 13714907)






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 (Shropshire) 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: 13714907 (England and Wales)

Crest Hotels (Shropshire) Limited (Registered number: 13714907)

Balance Sheet
31 December 2022

Notes £    £   
FIXED ASSETS
Tangible assets 4 2,278,801

CURRENT ASSETS
Debtors 5 121,094
Cash at bank 99,601
220,695
CREDITORS
Amounts falling due within one year 6 2,408,913
NET CURRENT LIABILITIES (2,188,218 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

90,583

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings 90,483
90,583

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 (Shropshire) Limited (Registered number: 13714907)

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

1. STATUTORY INFORMATION

Crest Hotels (Shropshire) 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.

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

Turnover represents the total invoice value, excluding value added tax, of rental income from an operating lease received during the year.

Turnover is recognised on a straight-line basis over the term of the operating lease (Net of any incentives given to the lesees).

Turnover for the company comprises solely of rent receivable from Crest Shifnal Ltd (a fellow subsidiary) which it recognises on an accruals basis.

Crest Hotels (Shropshire) Limited (Registered number: 13714907)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on straight line basis

Included within the property cost is land at £500,000 which is not depreciated.

The company has a policy of revaluation for its freehold property in accordance with FRS 102 section 17.
Freehold Property is stated in the balance sheet at its revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any depreciation or impairment losses subsequently accumulated. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the balance sheet.

All fixed assets are initially recorded at cost. Expenditures incurred after the fixed assets have been put into operation, such as repairs and maintenance and overhaul costs, are normally charged to the profit and loss account in the period in which the costs are incurred. In situations where it can be clearly demonstrated that the expenditures have resulted in an increase in the future economic benefits expected to be obtained from the use of the item of property and equipment beyond its originally assessed standard of performance, the expenditures are capitalised as an additional cost of property and equipment.

Subsequent additions and major components
Subsequent costs are included in the assets carrying amount or recognised as a separate asset, as appropriate, only when it is probable that economic benefits associated with the item will flow to the company and the cost can be measured reliably.

The carrying amount of any replaced component is derecognised. Major components are treated as a separate asset when they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.

Derecognition
Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in profit or loss.

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.

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 NIL.

Crest Hotels (Shropshire) Limited (Registered number: 13714907)

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

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
Additions 2,317,804
At 31 December 2022 2,317,804
DEPRECIATION
Charge for period 39,003
At 31 December 2022 39,003
NET BOOK VALUE
At 31 December 2022 2,278,801

Included within the property cost is land of £500,000 which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Amounts owed by group undertakings 121,094

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other loans 2,398,436
VAT 8,477
Accrued expenses 2,000
2,408,913

Included within other loans is a loan due to a related party as shown in note 8 to the accounts.

7. SECURED DEBTS

The following secured debts are included within creditors:

£   
Other loan 1,800,000

The £1.8M loan is secured on the freehold property.

8. RELATED PARTY DISCLOSURES

The ultimate controlling parties are Mr G Singh and Mr P Singh.

Included within creditors is a loan of £598,436 to a company under the common control of the directors.