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Registered number: 07423353
THE ELAN HOTEL RHAYADER LTD
ABRIDGED Financial Statements
For The Year Ended 31 October 2023
Mibsons Limited
Chartered Certified Accountants
180 Birmingham Road
West Bromwich
B70 6QG
Financial Statements
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 07423353
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 33,055 -
Tangible Assets 5 3,801 1
36,856 1
CURRENT ASSETS
Stocks 14,512 13,262
Debtors 29,896 20,896
Cash at bank and in hand 49,615 134
94,023 34,292
Creditors: Amounts Falling Due Within One Year (111,870 ) (29,631 )
NET CURRENT ASSETS (LIABILITIES) (17,847 ) 4,661
TOTAL ASSETS LESS CURRENT LIABILITIES 19,009 4,662
Creditors: Amounts Falling Due After More Than One Year (27,114 ) (30,776 )
NET LIABILITIES (8,105 ) (26,114 )
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account (8,205 ) (26,214 )
SHAREHOLDERS' FUNDS (8,105) (26,114)
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Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 October 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mrs Sukhvinder Kaur
Director
25th July 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
THE ELAN HOTEL RHAYADER LTD is a private company, limited by shares, incorporated in England & Wales, registered number 07423353 . The registered office is Thel Elan Hotel , West Street, Rhayader, LD6 5AF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 6 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight Line
Fixtures & Fittings 20% Straight Line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 15 1
15 1
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4. Intangible Assets
Total
£
Cost
As at 1 November 2022 -
Additions 35,000
As at 31 October 2023 35,000
Amortisation
As at 1 November 2022 -
Provided during the period 1,945
As at 31 October 2023 1,945
Net Book Value
As at 31 October 2023 33,055
As at 1 November 2022 -
5. Tangible Assets
Total
£
Cost
As at 1 November 2022 3,836
Additions 4,064
As at 31 October 2023 7,900
Depreciation
As at 1 November 2022 3,835
Provided during the period 264
As at 31 October 2023 4,099
Net Book Value
As at 31 October 2023 3,801
As at 1 November 2022 1
6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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