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REGISTERED NUMBER: 02682734 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

P & T HOTELS LTD

P & T HOTELS LTD (REGISTERED NUMBER: 02682734)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P & T HOTELS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: Mr J. Tsaroullas
Mr K. Pavlou





SECRETARY: Mr J. Tsaroullas





REGISTERED OFFICE: 20 - 24 Knightstone Road
Weston Super Mare
BS23 2AW





REGISTERED NUMBER: 02682734 (England and Wales)





ACCOUNTANTS: LARKOS & PARTNERS
128 STOKE LANE
WESTBURY ON TRYM
BRISTOL
BS9 3RJ

P & T HOTELS LTD (REGISTERED NUMBER: 02682734)

BALANCE SHEET
28 FEBRUARY 2023

28/2/23 28/2/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,728,857 1,426,815
Investments 5 80 80
1,728,937 1,426,895

CURRENT ASSETS
Stocks 6 14,930 15,875
Debtors 7 359,423 414,407
Cash at bank and in hand 354,761 737,400
729,114 1,167,682
CREDITORS
Amounts falling due within one year 8 282,149 454,382
NET CURRENT ASSETS 446,965 713,300
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,175,902

2,140,195

CREDITORS
Amounts falling due after more than one year 9 (423,859 ) (539,564 )

PROVISIONS FOR LIABILITIES 11 - (893 )
NET ASSETS 1,752,043 1,599,738

CAPITAL AND RESERVES
Called up share capital 12 72,000 72,000
Other reserves 13 28,000 28,000
Retained earnings 13 1,652,043 1,499,738
SHAREHOLDERS' FUNDS 1,752,043 1,599,738

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

P & T HOTELS LTD (REGISTERED NUMBER: 02682734)

BALANCE SHEET - continued
28 FEBRUARY 2023


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 Director the Board of Directors and authorised for issue on 10 November 2023 and were signed on its behalf by:





Mr J. Tsaroullas - Director


P & T HOTELS LTD (REGISTERED NUMBER: 02682734)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

P & T Hotels 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.

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

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 cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

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 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 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 36 (2022 - 37 ) .

P & T HOTELS LTD (REGISTERED NUMBER: 02682734)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 March 2022 1,678,501 914,784 10,930 2,604,215
Additions - 374,296 - 374,296
At 28 February 2023 1,678,501 1,289,080 10,930 2,978,511
DEPRECIATION
At 1 March 2022 483,064 683,406 10,930 1,177,400
Charge for year 33,570 38,684 - 72,254
At 28 February 2023 516,634 722,090 10,930 1,249,654
NET BOOK VALUE
At 28 February 2023 1,161,867 566,990 - 1,728,857
At 28 February 2022 1,195,437 231,378 - 1,426,815

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2022
and 28 February 2023 80
NET BOOK VALUE
At 28 February 2023 80
At 28 February 2022 80

6. STOCKS
28/2/23 28/2/22
£    £   
Stocks 14,930 15,875

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£    £   
Trade debtors 13,431 5,231
Loan 1 York Hotel 289,790 287,715
Loan 2 York Hotel 16,959 16,959
Loan Nippon Restaurant - 99,966
Other debtors 29,758 3,112
Staff Loans 5,200 -
Prepayments 4,285 1,424
359,423 414,407

P & T HOTELS LTD (REGISTERED NUMBER: 02682734)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£    £   
Trade creditors 77,225 58,651
Corporation Tax 46,670 81,626
Social security and other taxes 21,361 8,256
VAT 793 1,416
Other creditors 32,350 90,957
Directors' current accounts 77,668 198,654
Accrued expenses 26,082 14,822
282,149 454,382

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28/2/23 28/2/22
£    £   
Other loans (see note 10) 423,859 539,564

Amounts falling due in more than five years:

Repayable by instalments
Bank Loan 3 82,394 153,796
Bank Loan 2 307,746 342,058
390,140 495,854

10. LOANS

An analysis of the maturity of loans is given below:

28/2/23 28/2/22
£    £   
Amounts falling due between one and two years:
Bank Loan 33,719 43,710

Amounts falling due in more than five years:

Repayable by instalments
Bank Loan 3 82,394 153,796
Bank Loan 2 307,746 342,058
390,140 495,854

11. PROVISIONS FOR LIABILITIES
28/2/23 28/2/22
£    £   
Deferred tax - 893

Deferred
tax
£   
Balance at 1 March 2022 893
Credit to Income Statement during year (893 )
Balance at 28 February 2023 -

P & T HOTELS LTD (REGISTERED NUMBER: 02682734)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28/2/23 28/2/22
value: £    £   
72,000 Ordinary 1 72,000 72,000

13. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 March 2022 1,499,738 28,000 1,527,738
Profit for the year 212,305 212,305
Dividends (60,000 ) (60,000 )
At 28 February 2023 1,652,043 28,000 1,680,043