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REGISTERED NUMBER: 03272908 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

MARSHAM COURT HOTEL LTD

MARSHAM COURT HOTEL LTD (REGISTERED NUMBER: 03272908)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MARSHAM COURT HOTEL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mrs R Radwell
J R Dixon-Box
R B Dixon-Box
Mrs J L Langridge



REGISTERED OFFICE: 3 Russell Cotes Road
Bournemouth
Dorset
BH1 3AB



REGISTERED NUMBER: 03272908 (England and Wales)



ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE



BANKERS: National Westminster Bank
The Square
5 Old Christchurch Road
Bournemouth
Dorset
BH1 1DU

MARSHAM COURT HOTEL LTD (REGISTERED NUMBER: 03272908)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 95,500 191,000
Tangible assets 5 2,025,296 1,884,822
Investments 6 2 2
2,120,798 2,075,824

CURRENT ASSETS
Stocks 7,697 12,275
Debtors 7 55,741 76,452
Cash in hand 4,782 7,012
68,220 95,739
CREDITORS
Amounts falling due within one year 8 1,172,187 839,057
NET CURRENT LIABILITIES (1,103,967 ) (743,318 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,016,831

1,332,506

CREDITORS
Amounts falling due after more than one
year

9

491,457

622,283
NET ASSETS 525,374 710,223

MARSHAM COURT HOTEL LTD (REGISTERED NUMBER: 03272908)

BALANCE SHEET - continued
31 MARCH 2023

2023 2022
Notes £    £    £    £   

CAPITAL AND RESERVES
Called up share capital 101,000 101,000
Other reserve 11 526,936 1,451,673
Retained earnings (102,562 ) (842,450 )
SHAREHOLDERS' FUNDS 525,374 710,223

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 July 2023 and were signed on its behalf by:





Mrs R Radwell - Director


MARSHAM COURT HOTEL LTD (REGISTERED NUMBER: 03272908)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Marsham Court Hotel Ltd 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.

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.

Preparation of consolidated financial statements
The financial statements contain information about Marsham Court Hotel Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents accommodation, restaurant and bar sales, excluding value added tax.

Goodwill
Goodwill was revalued in 2014 and is being written off over its estimated useful life of 10 years. In accordance with the transitional provisions of FRS102, the revaluation in 2014 has been adopted as cost.

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.

Websites are being amortised evenly over their estimated useful life of three years.

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
Motor vehicles - 25% on reducing balance

Leasehold property was revalued in 2014 and is being written off over the unexpired term of the lease. In accordance with the transitional provisions of FRS102, the revaluation in 2014 has been adopted as cost.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

MARSHAM COURT HOTEL LTD (REGISTERED NUMBER: 03272908)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 96 (2022 - 81 ) .

MARSHAM COURT HOTEL LTD (REGISTERED NUMBER: 03272908)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. INTANGIBLE FIXED ASSETS
Goodwill Websites Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 955,000 4,000 959,000
AMORTISATION
At 1 April 2022 764,000 4,000 768,000
Amortisation for year 95,500 - 95,500
At 31 March 2023 859,500 4,000 863,500
NET BOOK VALUE
At 31 March 2023 95,500 - 95,500
At 31 March 2022 191,000 - 191,000

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022 1,990,117 1,143,257 - 3,133,374
Additions 150,702 79,624 93,330 323,656
At 31 March 2023 2,140,819 1,222,881 93,330 3,457,030
DEPRECIATION
At 1 April 2022 423,590 824,962 - 1,248,552
Charge for year 70,091 99,480 13,611 183,182
At 31 March 2023 493,681 924,442 13,611 1,431,734
NET BOOK VALUE
At 31 March 2023 1,647,138 298,439 79,719 2,025,296
At 31 March 2022 1,566,527 318,295 - 1,884,822

MARSHAM COURT HOTEL LTD (REGISTERED NUMBER: 03272908)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 2
NET BOOK VALUE
At 31 March 2023 2
At 31 March 2022 2







7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 12,233 18,233
Amounts owed by group undertakings - 28,850
Other debtors 43,508 29,369
55,741 76,452

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 352,316 360,477
Trade creditors 129,312 125,648
Amounts owed to group undertakings 7,581 -
Taxation and social security 226,844 21,078
Other creditors 456,134 331,854
1,172,187 839,057

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 491,457 622,283

MARSHAM COURT HOTEL LTD (REGISTERED NUMBER: 03272908)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 172,587 178,723
Bank loans 671,186 804,037
843,773 982,760

The company's bankers have taken security by way of a fixed charge over the company's leasehold property and a floating charge over the remainder of the company's assets.

11. RESERVES
Other
reserve
£   
At 1 April 2022 1,451,673
Transfer (924,737 )

At 31 March 2023 526,936

The other reserve is the former revaluation reserve that is non distributable. The current year transfer on reserves arises as a result of historical depreciation on revaluation.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
J R Dixon-Box
Balance outstanding at start of year 5,125 -
Amounts advanced - 5,125
Amounts repaid (5,125 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 5,125

MARSHAM COURT HOTEL LTD (REGISTERED NUMBER: 03272908)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

R B Dixon-Box
Balance outstanding at start of year 6,339 -
Amounts advanced - 6,339
Amounts repaid (6,339 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 6,339

The above loans are non interest bearing and were paid in full on 31 December 2022.

13. RELATED PARTY DISCLOSURES

TRANSACTIONS WITH GROUP COMPANIES

Non interest bearing loan on which no terms of repayment have been agreed. The amount due to group companies at the balance sheet date amounted to £7,581 (2022 - due from group companies £28,850).

TRANSACTIONS WITH THE DIRECTORS
Non interest bearing loan on which no terms of repayment have been agreed. The amount due to the directors at the balance sheet date amounted to £45,000 (2022 - £36,463)