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REGISTERED NUMBER: 00201602 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

PORCHESTER HOTEL LIMITED

PORCHESTER HOTEL LIMITED (REGISTERED NUMBER: 00201602)






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


PORCHESTER HOTEL LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: M S Hilton
I C Hilton
S Hilton





SECRETARY: A M S Innes-Ker





REGISTERED OFFICE: Portsdown
Faris Lane
Woodham
Surrey
KT15 3DL





REGISTERED NUMBER: 00201602 (England and Wales)





ACCOUNTANTS: BWBCA Limited
Dukes Court
Duke Street
Woking
Surrey
GU21 5BH

PORCHESTER HOTEL LIMITED (REGISTERED NUMBER: 00201602)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 18 22
Investment property 6 1,283,333 1,283,333
1,283,351 1,283,355

CURRENT ASSETS
Investments 7 168,854 140,586
Cash at bank 7,487 4,045
176,341 144,631
CREDITORS
Amounts falling due within one year 8 241,405 209,982
NET CURRENT LIABILITIES (65,064 ) (65,351 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,218,287

1,218,004

PROVISIONS FOR LIABILITIES 9 184,167 134,594
NET ASSETS 1,034,120 1,083,410

CAPITAL AND RESERVES
Called up share capital 10 2,000 2,000
Retained earnings 1,032,120 1,081,410
SHAREHOLDERS' FUNDS 1,034,120 1,083,410

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.

PORCHESTER HOTEL LIMITED (REGISTERED NUMBER: 00201602)

Balance Sheet - continued
31 March 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 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 22 December 2023 and were signed on its behalf by:





I C Hilton - Director


PORCHESTER HOTEL LIMITED (REGISTERED NUMBER: 00201602)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Porchester 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 - 20% on reducing balance

Investment property
The investment property is shown at fair value. The property is valued annually. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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 material 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.

Deferred tax has been provided on the revaluation of the investment property.

Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction cost. Subsequently they are measured at fair value with changes recognised in gains/(losses) on investments if the shares are publicly traded or their fair value can otherwise be measured reliably.

PORCHESTER HOTEL LIMITED (REGISTERED NUMBER: 00201602)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. EMPLOYEES

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

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2022
and 31 March 2023 2,265
DEPRECIATION
At 1 April 2022 2,243
Charge for year 4
At 31 March 2023 2,247
NET BOOK VALUE
At 31 March 2023 18
At 31 March 2022 22

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 1,283,333
NET BOOK VALUE
At 31 March 2023 1,283,333
At 31 March 2022 1,283,333

The directors have assessed the value as at 31 March 2023 and consider that there has been no material change from the valuation in 2021.

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2017 349,323
Valuation in 2021 683,333
Cost 250,677
1,283,333

7. CURRENT ASSET INVESTMENTS
31.3.23 31.3.22
£    £   
Listed investments 168,854 140,586

PORCHESTER HOTEL LIMITED (REGISTERED NUMBER: 00201602)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other creditors 241,405 209,982

9. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 184,167 134,594

Deferred
tax
£   
Balance at 1 April 2022 134,594
Provided during year 49,573
Offset losses against gain
Balance at 31 March 2023 184,167

Deferred tax relates to the capital gains tax that would arise on disposal of the investment property based on the valuation of the property at the balance sheet date.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
839 Ordinary A £1 839 839
250 Ordinary B £1 250 250
137 Ordinary C £1 137 137
250 Ordinary D £1 250 250
137 Ordinary E £1 137 137
250 Ordinary F £1 250 250
137 Ordinary G £1 137 137
2,000 2,000

11. RELATED PARTY DISCLOSURES

At the year end the company owed the following balances to related parties; director M Hilton £106,578 (2022 - £81,156), director I Hilton £8,000 (2022 - £6,000), company secretary A Innes-Kerr £83,717 (2022 - £81,717) and shareholder R Hilton £42,000 (2022 - £40,000). The loans are interest free and repayable on demand, however the related parties have confirmed they will not withdraw their loans to the detriment of the company.

12. RESERVES

Included within the total retained earnings reserve balance of £1,032,120 are non distributable reserves of £896,856