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Company registration number: 04622091
The Invicta Hotel Limited
Unaudited filleted financial statements
31 October 2023
The Invicta Hotel Limited
Contents
Directors and other information
Statement of financial position and notes to the financial statements
The Invicta Hotel Limited
Directors and other information
Directors Mr R E Martin
Mrs B Martin
Mr R D Martin (Resigned 26 April 2024)
Secretary Mrs B Martin
Company number 04622091
Registered office The Invicta Hotel
11-12 Osborne Place
Plymouth
PL1 2PU
Accountants Wills Accountants Limited
2 Endeavour House
Parkway Court
Longbridge Road
Plymouth
PL6 8LR
The Invicta Hotel Limited
Statement of financial position
31 October 2023
2023 2022
£ £ £ £
Fixed assets 144,640 258,513
_______ _______
Current assets 37,900 91,093
Prepayments and accrued income - 2,500
_______ _______
37,900 93,593
Creditors: amounts falling due within one year ( 129,256) ( 193,993)
_______ _______
Net current liabilities ( 91,356) ( 100,400)
_______ _______
Total assets less current liabilities 53,284 158,113
Creditors: amounts falling due after more than one year ( 33,515) ( 81,060)
Accruals and deferred income ( 1,300) ( 1,217)
_______ _______
Net assets 18,469 75,836
_______ _______
Capital and reserves - see Note 2 18,469 75,836
_______ _______
Notes to the financial statements
The Invicta Hotel Limited
Year ended 31 October 2023
1. Employee numbers
The average number of persons employed by the company during the year amounted to 18 (2022: 18 ).
2. Prior Year Adjustment
2023 2022
£ £
Loss on sale of assets to connected business see note 3 86,714 -
_______ _______
( 86,714) -
Profit / (Loss) for year 29,348 (27,886)
Retained Earnings at start of the year (46,165) (18,279)
_______ | _______ |
Retained Earnings at the end of the year (103,531) (46,165)
Add Share Capital 122,001 122,001
_______ | _______ |
Reserves at end of year 18,470 75,836
_______ | _______ |
Loss on sale of assets to connected business see note 3
FRS 102, The Financial Reporting Standard Applicable in the UK and Republic of Ireland (January 2022), within section 10, allows for corrections of errors in prior period financial statements. The current year assets now incorporate this prior year's figure, but as the sum is considered material the prior years accounts have not be restated, any adjustment thereof being now incorporated within the current year.
3. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr R E Martin 9,008 16,345 ( 25,353) -
Mrs B Martin 9,007 16,345 ( 25,352) -
Mr R D Martin 9,007 - ( 9,007) -
_______ _______ _______ _______
27,022 32,690 ( 59,712) -
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr R E Martin - 9,164 ( 156) 9,008
Mrs B Martin - 9,163 ( 156) 9,007
Mr R D Martin - 9,007 - 9,007
_______ _______ _______ _______
- 27,334 ( 312) 27,022
_______ _______ _______ _______
On 01 November 2021, in the year to 31 October 2022, certain assets were sold, at arm's length, for £25,000 (plus VAT) to the Directors, Mr R & Mrs B Martin . This created a net book loss in the company on disposal of £86,714. This information was not to hand at the time that the 31 October 2022 were prepared, and as this adjustment relates to prior year and is deemed material, is being treated a prior year adjustment within the accounts for the year end 31 October 2023.
4. Going Concern
The company has negative current liabilities. The company is therefore reliant upon the continued financial support of its directors in order to continue operations. The directors have indicated their willingness to provide financial support to ensure that the company has sufficient resources to meet third parties debts as they fall due. Accordingly the accounts have been prepared on a going concern basis. If the support of the directors were withdrawn, then the going concern basis may not be acceptable. Adjustments may then have to be made to adjust the value of the assets to their recoverable amounts, to provide for any further liabilities that might arise, and to reclassify fixed assets and long term loans as current assets and current liabilities.
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.
Directors responsiblities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements have been prepared in accordance with the micro-entity provisions and have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the board of directors and authorised for issue on 22 July 2024 , and are signed on behalf of the board by:
Mr R E Martin
Director
Company registration number: 04622091
The company is a private company limited by shares, registered in England.