Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-312022-11-01falsehotel operator2617truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08705864 2022-11-01 2023-10-31 08705864 2021-11-01 2022-10-31 08705864 2023-10-31 08705864 2022-10-31 08705864 2021-11-01 08705864 c:Director1 2022-11-01 2023-10-31 08705864 d:Buildings d:LongLeaseholdAssets 2022-11-01 2023-10-31 08705864 d:Buildings d:LongLeaseholdAssets 2023-10-31 08705864 d:Buildings d:LongLeaseholdAssets 2022-10-31 08705864 d:FurnitureFittings 2022-11-01 2023-10-31 08705864 d:FurnitureFittings 2023-10-31 08705864 d:FurnitureFittings 2022-10-31 08705864 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 08705864 d:ComputerEquipment 2022-11-01 2023-10-31 08705864 d:ComputerEquipment 2023-10-31 08705864 d:ComputerEquipment 2022-10-31 08705864 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 08705864 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 08705864 d:Goodwill 2023-10-31 08705864 d:Goodwill 2022-10-31 08705864 d:CurrentFinancialInstruments 2023-10-31 08705864 d:CurrentFinancialInstruments 2022-10-31 08705864 d:Non-currentFinancialInstruments 2023-10-31 08705864 d:Non-currentFinancialInstruments 2022-10-31 08705864 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 08705864 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 08705864 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 08705864 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 08705864 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-10-31 08705864 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-10-31 08705864 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-10-31 08705864 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-10-31 08705864 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-10-31 08705864 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-10-31 08705864 d:ShareCapital 2023-10-31 08705864 d:ShareCapital 2022-10-31 08705864 d:RetainedEarningsAccumulatedLosses 2023-10-31 08705864 d:RetainedEarningsAccumulatedLosses 2022-10-31 08705864 c:OrdinaryShareClass1 2022-11-01 2023-10-31 08705864 c:OrdinaryShareClass1 2023-10-31 08705864 c:FRS102 2022-11-01 2023-10-31 08705864 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 08705864 c:FullAccounts 2022-11-01 2023-10-31 08705864 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 08705864 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2022-11-01 2023-10-31 08705864 2 2022-11-01 2023-10-31 08705864 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 08705864 d:AcceleratedTaxDepreciationDeferredTax 2022-10-31 08705864 d:Goodwill d:OwnedIntangibleAssets 2022-11-01 2023-10-31 08705864 e:PoundSterling 2022-11-01 2023-10-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 08705864














FOUR SAINTS HOTELS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED  31 OCTOBER 2023

 
FOUR SAINTS HOTELS LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 10


 
FOUR SAINTS HOTELS LIMITED
REGISTERED NUMBER:08705864

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
85,123
-

Tangible assets
 5 
2,559,400
807,105

Current assets
  

Stocks
  
5,547
4,790

Debtors: amounts falling due within one year
 6 
96,169
40,405

Cash at bank and in hand
  
102,772
91,036

  
204,488
136,231

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(383,949)
(240,893)

Net current liabilities
  
 
 
(179,461)
 
 
(104,662)

Total assets less current liabilities
  
2,465,062
702,443

Creditors: amounts falling due after more than one year
 8 
(2,289,065)
(581,435)

Provisions for liabilities
  

Deferred tax
 10 
(7,496)
(4,974)

Net assets
  
168,501
116,034


Capital and reserves
  

Called up share capital 
 11 
15,000
15,000

Profit and loss account
  
153,501
101,034

  
168,501
116,034


Page 1

 
FOUR SAINTS HOTELS LIMITED
REGISTERED NUMBER:08705864
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2023

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 July 2024.




S S A Rozek
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
FOUR SAINTS HOTELS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Four Saints Hotels Limited is a private limited liability company registered in England and Wales. Its registered office address is at 14 -15 Gloddaeth Crescent, Brig Y Don Hotel, Llandudno, Gwynedd, LL30 2XS. 
The company's functional and presentational currency is £ sterling.
The principal activity of the company continued to be that of a hotel operator.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax.
Revenue consists mainly of room rentals and beverage sales. Revenue is recognised when rooms are occupied and beverages are sold.

 
2.3

Government grants

Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Intangible assets

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis over 5 years to the Statement of Comprehensive Income over its useful economic life.

Page 3

 
FOUR SAINTS HOTELS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:

Long term leasehold property
-
2% straight line
Fixtures, fittings and equipment
-
20% straight line
Computer equipment
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

 
2.8

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

 
2.9

Pensions

The company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Page 4

 
FOUR SAINTS HOTELS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.10

Basic financial instruments

The company only enters into transactions that result in the recognition of basic financial assets and basic financial liabilities.
Basic financial assets, such as trade and other debtors, are initially recognised at the transaction price less attributable transaction costs. Basic financial liabilities, such as trade and other creditors, are initially recognised at the transaction price plus attributable transaction costs. Subsequently, they are measured at amortised cost using the effective interest method, less any impairment losses in the case of basic financial assets.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable.

Page 5

 
FOUR SAINTS HOTELS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 26 (2022 - 17).


4.


Intangible assets




Goodwill

£



Cost


At 1 November 2022
35,383


Additions
85,971



At 31 October 2023

121,354



Amortisation


At 1 November 2022
35,383


Charge for the year on owned assets
848



At 31 October 2023

36,231



Net book value



At 31 October 2023
85,123



At 31 October 2022
-



Page 6

 
FOUR SAINTS HOTELS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Tangible fixed assets





Long term leasehold property
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost


At 1 November 2022
925,685
224,195
1,041
1,150,921


Additions
1,762,461
15,171
-
1,777,632



At 31 October 2023

2,688,146
239,366
1,041
2,928,553



Depreciation


At 1 November 2022
138,475
204,949
392
343,816


Charge for the year on owned assets
20,255
4,822
260
25,337



At 31 October 2023

158,730
209,771
652
369,153



Net book value



At 31 October 2023
2,529,416
29,595
389
2,559,400



At 31 October 2022
787,210
19,246
649
807,105


6.


Debtors

2023
2022
£
£


Trade debtors
-
6,274

Other debtors
88,749
27,751

Prepayments and accrued income
7,420
6,380

96,169
40,405


Page 7

 
FOUR SAINTS HOTELS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
42,247
46,213

Other loans
70,200
-

Trade creditors
44,941
15,458

Taxation and social security
137,441
129,351

Other creditors
62,751
30,692

Accruals and deferred income
26,369
19,179

383,949
240,893


Of the bank loans balance due within one year, £22,247 (2022 - £16,838) is secured by way of a debenture over the assets of the company.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
2,135,094
527,643

Other loans
153,971
53,792

2,289,065
581,435


Other loans includes £153,971 (2022 - £53,792) due to the director, S S A Rozek. The £153,971 due to the director is unsecured and subordinated in favour of third party creditors.
Of the bank loans balance falling due after more than one year, £2,100,808 (2022 - £445,534) is secured by way of a debenture over the assets of the company and £34,286 (2022 - £54,486) is secured by a personal guarantee provided by the director of £20,000.

Page 8

 
FOUR SAINTS HOTELS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
42,247
46,213

Other loans
70,200
-

Amounts falling due 1-2 years

Bank loans
68,741
46,213

Amounts falling due 2-5 years

Bank loans
185,524
103,249

Amounts falling due after more than 5 years

Bank loans
1,880,829
378,181

Other loans
153,971
53,791

2,401,512
627,647



10.


Deferred taxation




2023
2022


£

£






At beginning of year
4,974
3,372


Charged to profit or loss
2,522
1,602



At end of year
7,496
4,974

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
7,496
4,974

Page 9

 
FOUR SAINTS HOTELS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



15,000 Ordinary shares of £1 each
15,000
15,000



12.


Pension commitments

The company contributes to a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £4,419 (2022 - £3,806). Contributions totalling £2,780 (2022 - £2,424) were payable to the fund at the reporting date and are included in creditors.

 
Page 10