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REGISTERED NUMBER: 06807839 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

The Park House Hostel Limited

The Park House Hostel Limited (Registered number: 06807839)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Park House Hostel Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr T J Brunton
Mrs D Brunton





SECRETARY: Mrs D Brunton





REGISTERED OFFICE: 157 Redland Road
Redland
Bristol
BS6 6YE





REGISTERED NUMBER: 06807839 (England and Wales)





ACCOUNTANTS: Wormald & Partners
Chartered Accountants (ICAEW)
Redland House
157 Redland Road
Redland
Bristol
BS6 6YE

The Park House Hostel Limited (Registered number: 06807839)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 29,008 37,517
Tangible assets 5 889,759 889,706
918,767 927,223

CURRENT ASSETS
Debtors 6 8,936 5,797
Cash at bank 89,291 110,509
98,227 116,306
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

7

100,274

160,216
NET CURRENT LIABILITIES (2,047 ) (43,910 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

916,720

883,313

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

8

(435,524

)

(454,214

)

PROVISIONS FOR LIABILITIES (16,477 ) (10,341 )
NET ASSETS 464,719 418,758

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 464,619 418,658
SHAREHOLDERS' FUNDS 464,719 418,758

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

The Park House Hostel Limited (Registered number: 06807839)

Balance Sheet - continued
31 March 2024


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 Board of Directors and authorised for issue on 23 July 2024 and were signed on its behalf by:





Mr T J Brunton - Director


The Park House Hostel Limited (Registered number: 06807839)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

The Park House Hostel 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 represents net rents received, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of two businesses, the first purchased in 2009, the second in 2010, is being amortised evenly over its estimated useful life of twenty years

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on reducing balance basis
Computer equipment - 33.33% on reducing balance

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 5 (2023 - 5 ) .

The Park House Hostel Limited (Registered number: 06807839)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 170,175
AMORTISATION
At 1 April 2023 132,658
Amortisation for year 8,509
At 31 March 2024 141,167
NET BOOK VALUE
At 31 March 2024 29,008
At 31 March 2023 37,517

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 882,405 14,844 3,198 900,447
Additions - 365 1,648 2,013
Disposals - - (379 ) (379 )
At 31 March 2024 882,405 15,209 4,467 902,081
DEPRECIATION
At 1 April 2023 - 8,355 2,386 10,741
Charge for year - 1,028 764 1,792
Eliminated on disposal - - (211 ) (211 )
At 31 March 2024 - 9,383 2,939 12,322
NET BOOK VALUE
At 31 March 2024 882,405 5,826 1,528 889,759
At 31 March 2023 882,405 6,489 812 889,706

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,798 3,503
Other debtors 201 201
Prepayments and accrued income 2,937 2,093
8,936 5,797

The Park House Hostel Limited (Registered number: 06807839)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 17,598 16,142
Tax 26,830 20,071
Directors' current accounts 48,022 116,720
Accruals and deferred income 7,824 7,283
100,274 160,216

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 435,524 454,214

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 17,598 16,142

Amounts falling due between one and two years:
Bank loans 435,524 454,214

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £35,500 were paid to the directors .

11. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr T J Brunton by virtue of his shareholding in the company.