Company registration number 03115381 (England and Wales)
CAERLEON HOTELS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
CAERLEON HOTELS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
CAERLEON HOTELS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2023
30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,106,911
1,075,020
Current assets
Stocks
63,685
62,384
Debtors
5
178,323
173,397
Cash at bank and in hand
731,151
971,186
973,159
1,206,967
Creditors: amounts falling due within one year
6
(420,161)
(587,762)
Net current assets
552,998
619,205
Total assets less current liabilities
1,659,909
1,694,225
Creditors: amounts falling due after more than one year
7
(165,000)
(233,491)
Provisions for liabilities
(161,957)
(173,246)
Net assets
1,332,952
1,287,488
Capital and reserves
Called up share capital
264,000
264,000
Share premium account
2,000
2,000
Capital redemption reserve
66,000
66,000
Profit and loss reserves
1,000,952
955,488
Total equity
1,332,952
1,287,488

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 28 November 2023
Mr B Martinez
Director
Company Registration No. 03115381
CAERLEON HOTELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 2 -
1
Accounting policies
Company information

Caerleon Hotels Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Priory Hotel, High Street, Caerleon, Newport, Gwent, United Kingdom, NP18 1AG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue represents amounts receivable for goods provided in the normal course of business net of VAT and trade discounts.

 

Revenue from the provision of restaurateur services and accommodation is recognised upon completion when, and to the extent that, the company obtains the right to consideration in exchange for services provided.

1.3
Intangible fixed assets

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website
- straight line over 5 years
1.4
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

 

Land and buildings Freehold
- 2% on cost
Fixtures, fittings & equipment
- 20% on cost
Motor vehicles
- 20% on cost
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

CAERLEON HOTELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 3 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

CAERLEON HOTELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 4 -
1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease.

1.12
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
55
47
3
Intangible fixed assets
Website
£
Cost
At 1 May 2022 and 30 April 2023
4,000
Amortisation and impairment
At 1 May 2022 and 30 April 2023
4,000
Carrying amount
At 30 April 2023
-
0
At 30 April 2022
-
0
CAERLEON HOTELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 5 -
4
Tangible fixed assets
Land and buildings Freehold
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2022
1,287,953
1,399,816
55,395
2,743,164
Additions
23,246
219,436
2,608
245,290
At 30 April 2023
1,311,199
1,619,252
58,003
2,988,454
Depreciation and impairment
At 1 May 2022
611,626
1,045,222
11,296
1,668,144
Depreciation charged in the year
25,992
176,067
11,340
213,399
At 30 April 2023
637,618
1,221,289
22,636
1,881,543
Carrying amount
At 30 April 2023
673,581
397,963
35,367
1,106,911
At 30 April 2022
676,327
354,594
44,099
1,075,020
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,909
2,023
Other debtors
175,414
171,374
178,323
173,397
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
79,080
153,387
Trade creditors
97,740
94,109
Taxation and social security
149,140
281,410
Other creditors
94,201
58,856
420,161
587,762

The long-term loan is secured against the property.

CAERLEON HOTELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 6 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
165,000
233,491

The long-term loan is secured against the property.

9
Directors' transactions

Advances or credits have been granted by the company to its director as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Director
-
104,274
146,709
2,043
(150,941)
102,085
104,274
146,709
2,043
(150,941)
102,085
10
Parent company

The company's ultimate parent undertaking is EBN Cardiff Limited, incorporated and registered in the United Kingdom with registered office of Custom house, Penarth Marina, Penarth, South Glamorgan, CF64 1TT.

 

Dividends of £150,000 (2022 - £247,000) were paid to EBN (Cardiff) Limited during the year.

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