Registered number
01859183
Marble Arch Hotels Limited
Filleted Accounts
31 December 2022
Marble Arch Hotels Limited
Registered number: 01859183
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 5 946,595 975,233
Current assets
Debtors 6 1,642,534 1,189,094
Cash at bank and in hand 1,079,258 1,525,872
2,721,792 2,714,966
Creditors: amounts falling due within one year 7 (55,341) (45,059)
Net current assets 2,666,451 2,669,907
Net assets 3,613,046 3,645,140
Capital and reserves
Called up share capital 200 200
Profit and loss account 3,612,846 3,644,940
Shareholder's funds 3,613,046 3,645,140
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P. Evans
Director
Approved by the board on 11 September 2023
Marble Arch Hotels Limited
Notes to the Accounts
for the year ended 31 December 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes and consists of revenue earned from the management of a hotel. Turnover is recognised by reference to the date of occupation in the hotel.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold and long leasehold buildings over 50 years
Fixtures, fittings and equipment 25% on written down value
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Audit information
The audit report is unqualified.
Senior statutory auditor: Colin Wain
Firm: Begbies
Date of audit report: 11 September 2023
3 Employees 2022 2021
Number Number
Average number of persons employed by the company 7 6
4 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2022 153,202
At 31 December 2022 153,202
Amortisation
At 1 January 2022 153,202
At 31 December 2022 153,202
Net book value
At 31 December 2022 -
Goodwill was being written off in equal annual instalments over its estimated economic life of 20 years.
5 Tangible fixed assets
Land and buildings Fixtures and fittings Total
£ £ £
Cost
At 1 January 2022 1,438,941 113,782 1,552,723
Additions - 872 872
At 31 December 2022 1,438,941 114,654 1,553,595
Depreciation
At 1 January 2022 465,765 111,725 577,490
Charge for the year 28,778 732 29,510
At 31 December 2022 494,543 112,457 607,000
Net book value
At 31 December 2022 944,398 2,197 946,595
At 31 December 2021 973,176 2,057 975,233
6 Debtors 2022 2021
£ £
Trade debtors 3,777 2,655
Other debtors 1,638,757 1,186,439
1,642,534 1,189,094
7 Creditors: amounts falling due within one year 2022 2021
£ £
Corporation tax 4,546 4,436
Other taxation and social security costs 19,738 8,821
Other creditors 31,057 31,802
55,341 45,059
8 Other information
Marble Arch Hotels Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Bonhill Street
London
EC2A 4DJ
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