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Registration number: 8651045

The Bedford Hotel (LSA) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2023

 

The Bedford Hotel (LSA) Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

The Bedford Hotel (LSA) Ltd

Company Information

Directors

Mrs T Baker

Mr C Baker

Registered office

307/313 Clifton Drive South
Lytham St Annes
Lancashire
FY8 1HN

Accountants

Red Dot Accountants Ltd
Chartered Accountants
15 Olympic Court
Boardmans Way
Whitehills Business Park
Blackpool
Lancashire
FY4 5GU

 

The Bedford Hotel (LSA) Ltd

(Registration number: 8651045)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,154,688

1,135,423

Current assets

 

Stocks

5

14,622

10,077

Debtors

6

287,194

256,991

Cash at bank and in hand

 

335,561

293,185

 

637,377

560,253

Creditors: Amounts falling due within one year

7

(217,040)

(289,951)

Net current assets

 

420,337

270,302

Total assets less current liabilities

 

1,575,025

1,405,725

Creditors: Amounts falling due after more than one year

7

(20,818)

-

Provisions for liabilities

(28,148)

(20,199)

Net assets

 

1,526,059

1,385,526

Capital and reserves

 

Called up share capital

8

972,100

972,100

Capital redemption reserve

198,000

198,000

Retained earnings

355,959

215,426

Shareholders' funds

 

1,526,059

1,385,526

For the financial year ending 31 January 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 23 October 2023 and signed on its behalf by:
 

 

The Bedford Hotel (LSA) Ltd

(Registration number: 8651045)
Balance Sheet as at 31 January 2023

.........................................
Mr C Baker
Director

 

The Bedford Hotel (LSA) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

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

The address of its registered office is:
307/313 Clifton Drive South
Lytham St Annes
Lancashire
FY8 1HN

These financial statements were authorised for issue by the Board on 23 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.

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 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 and deferred 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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

The Bedford Hotel (LSA) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 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

Land and buildings

2% on cost

Motor vehicles

25% on reducing balance

Furniture and fittings

10% on reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently reviewed for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Borrowings

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

The Bedford Hotel (LSA) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 40 (2022 - 38).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2022

1,128,406

202,112

17,998

1,348,516

Additions

-

16,380

39,750

56,130

At 31 January 2023

1,128,406

218,492

57,748

1,404,646

Depreciation

At 1 February 2022

99,299

109,294

4,500

213,093

Charge for the year

22,568

10,922

3,375

36,865

At 31 January 2023

121,867

120,216

7,875

249,958

Carrying amount

At 31 January 2023

1,006,539

98,276

49,873

1,154,688

At 31 January 2022

1,029,107

92,818

13,498

1,135,423

 

The Bedford Hotel (LSA) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

5

Stocks

2023
£

2022
£

Other inventories

14,622

10,077

6

Debtors

Current

2023
£

2022
£

Prepayments

-

9,725

Other debtors

287,194

247,266

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

6,958

-

Trade creditors

 

19,063

27,726

Taxation and social security

 

93,317

112,104

Accruals and deferred income

 

20,638

81,354

Other creditors

 

77,064

68,767

 

217,040

289,951

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

20,818

-

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary 'A' share of £1 each

100

100

100

100

Ordinary 'B' share of £1 each

972,000

972,000

972,000

972,000

 

972,100

972,100

972,100

972,100

 

The Bedford Hotel (LSA) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

9

Related party transactions

Transactions with directors

2023

At 1 February 2022
£

Advances to director
£

At 31 January 2023
£

Mrs T Baker

Directors Loan

94,861

21,751

116,612

       
     

Mr C Baker

Directors Loan

76,809

8,099

84,908

       
     

Mrs L Taylor

Directors Loan

14,948

-

14,948

       
     

 

2022

At 1 February 2021
£

Advances to director
£

At 31 January 2022
£

Mrs T Baker

Directors Loan

74,686

20,175

94,861

       
     

Mr C Baker

Directors Loan

47,085

29,724

76,809

       
     

Mrs L Taylor

Directors Loan

(18,688)

33,636

14,948