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REGISTERED NUMBER: 13377344 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

BUDE HOTEL LIMITED

BUDE HOTEL LIMITED (REGISTERED NUMBER: 13377344)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BUDE HOTEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: T D Brett





REGISTERED OFFICE: Flat 6 Georgian House
Duke Street
Bath
Avon
BA2 4AQ





REGISTERED NUMBER: 13377344 (England and Wales)





ACCOUNTANTS: Peregrine
Chartered Accountants
Old Bank
The Triangle
Paulton
Bristol
BS39 7LE

BUDE HOTEL LIMITED (REGISTERED NUMBER: 13377344)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,040,794 1,048,885

CURRENT ASSETS
Stocks 5,826 2,700
Debtors 5 - 2,248
Cash at bank 21,597 11,090
27,423 16,038
CREDITORS
Amounts falling due within one year 6 340,734 280,283
NET CURRENT LIABILITIES (313,311 ) (264,245 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

727,483

784,640

CREDITORS
Amounts falling due after more than one
year

7

910,454

892,163
NET LIABILITIES (182,971 ) (107,523 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (183,071 ) (107,623 )
SHAREHOLDERS' FUNDS (182,971 ) (107,523 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 13 February 2024 and were signed by:





T D Brett - Director


BUDE HOTEL LIMITED (REGISTERED NUMBER: 13377344)

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

1. STATUTORY INFORMATION

Bude 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 15% 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.

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 14 (2022 - 12 ) .

BUDE HOTEL LIMITED (REGISTERED NUMBER: 13377344)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2022 992,300 66,828 1,059,128
Additions - 673 673
At 31 May 2023 992,300 67,501 1,059,801
DEPRECIATION
At 1 June 2022 - 10,243 10,243
Charge for year - 8,764 8,764
At 31 May 2023 - 19,007 19,007
NET BOOK VALUE
At 31 May 2023 992,300 48,494 1,040,794
At 31 May 2022 992,300 56,585 1,048,885

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 2,248

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 4,328 30,764
Trade creditors 3,285 9,215
Taxation and social security 13,377 4,586
Other creditors 319,744 235,718
340,734 280,283

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 8) 910,454 892,163

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 877,994 744,495

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 4,328 30,764

Amounts falling due between one and two years:
Bank loans - 1-2 years 6,492 36,917

BUDE HOTEL LIMITED (REGISTERED NUMBER: 13377344)

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

8. LOANS - continued
2023 2022
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 25,968 110,751

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 877,994 744,495

The Lenders hold a first charge on the company's investment properties.
The loan expires 31.08.2046