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REGISTERED NUMBER: 01351705 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Glyn Clydach Hotel Limited

Glyn Clydach Hotel Limited (Registered number: 01351705)






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


Glyn Clydach Hotel Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Mr B Sheppard
Mr A J Sheppard





SECRETARY: Mr B Sheppard





REGISTERED OFFICE: Glyn Clydach Hotel
Longford Road
Dyffryn
NEATH
SA10 7AJ





REGISTERED NUMBER: 01351705 (England and Wales)





ACCOUNTANTS: Ashmole & Co
First Floor
1 St John's Court
Upper Fforest Way
Enterprise Park
Swansea
SA6 8QQ

Glyn Clydach Hotel Limited (Registered number: 01351705)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 594,953 588,830

CURRENT ASSETS
Stocks 5 7,592 7,000
Debtors 6 43,222 27,827
Cash at bank and in hand 176,862 205,541
227,676 240,368
CREDITORS
Amounts falling due within one year 7 651,752 573,267
NET CURRENT LIABILITIES (424,076 ) (332,899 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

170,877

255,931

CREDITORS
Amounts falling due after more than one
year

8

(22,500

)

(32,500

)

PROVISIONS FOR LIABILITIES (5,819 ) (4,580 )
NET ASSETS 142,558 218,851

Glyn Clydach Hotel Limited (Registered number: 01351705)

Balance Sheet - continued
28 February 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9,999 9,999
Retained earnings 132,559 208,852
SHAREHOLDERS' FUNDS 142,558 218,851

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.

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 Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:





Mr B Sheppard - Director


Glyn Clydach Hotel Limited (Registered number: 01351705)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Glyn Clydach Hotel Limited 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.
Plant and machinery etc - 25% on reducing balance and 25% on reducing balance

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.

Glyn Clydach Hotel Limited (Registered number: 01351705)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

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 34 (2022 - 28 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 March 2022 562,513 260,927 40,072 2,163 865,675
Additions - 14,349 - - 14,349
At 28 February 2023 562,513 275,276 40,072 2,163 880,024
DEPRECIATION
At 1 March 2022 - 247,522 28,785 538 276,845
Charge for year - 4,998 2,822 406 8,226
At 28 February 2023 - 252,520 31,607 944 285,071
NET BOOK VALUE
At 28 February 2023 562,513 22,756 8,465 1,219 594,953
At 28 February 2022 562,513 13,405 11,287 1,625 588,830

5. STOCKS
2023 2022
£    £   
Stocks 7,592 7,000

Glyn Clydach Hotel Limited (Registered number: 01351705)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 32,589 26,084
Other debtors 1,331 -
Prepayments 9,302 1,743
43,222 27,827

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Intercompany Loan 200,000 150,000
Trade creditors 33,891 18,183
Social security and other taxes 6,301 7,487
VAT 30,345 18,750
Other creditors 6,036 6,876
Directors' current accounts 254,769 254,769
Payments in advance 107,880 93,758
Accrued expenses 2,530 13,444
651,752 573,267

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 22,500 32,500

Glyn Clydach Hotel Limited (Registered number: 01351705)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

9. RELATED PARTY DISCLOSURES

Mr B Sheppard

As at 1 March 2022 the company owed the director £204,495. This balance remained outstanding at the year end.

Mr AJ Sheppard

As at 1 March 2022 the company owed the director £40,274. This balance remained outstanding at the year end.

Mrs C Sheppard

As at 1 March 2022 the company owed the director £10,000. This balance remained outstanding at the year end.

Monolithic Environmental Services Limited

Mr A J Sheppard is a director and shareholder of this company

During the year the company made net sales to Monolithic Environmental Services Limited totalling £19,290 (2022 £13,040) for rental of office space and car parking facilities.

At 28 February 2023 a balance of £4,212 (2022 £3,078) was due from Monolithic Environmental Services Limited.

At 28 February 2023 a loan balance of £20,000 (2022 £20,000) was due to Monolithic Environmental Services Limited.

Monolithic Refractories Limited

Mr B Sheppard is a director and shareholder of this company and Mr A Sheppard is a shareholder of this company.

During the year the company made net sales to Monolithic Refractories Limited totalling £39,978 (2022 £21,214) for rental of office space and car parking facilities.

At 28 February 2023 a balance of £7,547 (2022 £5,200) was due from Monolithic Refractories Limited.

Assistmost Enterprises Limited

Mr A J Sheppard is a director and shareholder of this company.

During the year the company made net sales to Assistmost Enterprises Limited totalling £13,000 (2022 £16,020) for rental of office space and car parking facilities.

At 28 February 2023 a balance of £Nil (2022 £4,224) was due from Assistmost Enterprises Limited.

Glyn Clydach Hotel Limited (Registered number: 01351705)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

At 28 February 2023 a loan balance of £180,000 (2021 £130,000) was due to Assistmost Enterprises Limited.