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REGISTERED NUMBER: 01353002 (England and Wales)













FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2023 TO 13 AUGUST 2024

FOR

SEAFIELD HOTEL (PAIGNTON) LIMITED

SEAFIELD HOTEL (PAIGNTON) LIMITED (REGISTERED NUMBER: 01353002)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 13 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SEAFIELD HOTEL (PAIGNTON) LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2023 TO 13 AUGUST 2024







DIRECTORS: Mrs L Langley-Churchward
Mr D Churchward



REGISTERED OFFICE: 7 Horseshoe Bend
Paignton
Devon
TQ4 6NH



REGISTERED NUMBER: 01353002 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Lloyds Bank
Paignton Branch
2 Palace Avenue
Paignton
Devon
TQ3 3ER

SEAFIELD HOTEL (PAIGNTON) LIMITED (REGISTERED NUMBER: 01353002)

BALANCE SHEET
13 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 700,000 950,000

CURRENT ASSETS
Debtors 5 848 848
Cash at bank and in hand 228,677 2,153
229,525 3,001
CREDITORS
Amounts falling due within one year 6 33,538 16,944
NET CURRENT ASSETS/(LIABILITIES) 195,987 (13,943 )
TOTAL ASSETS LESS CURRENT LIABILITIES 895,987 936,057

PROVISIONS FOR LIABILITIES 88,180 114,119
NET ASSETS 807,807 821,938

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 7 410,547 604,590
Retained earnings 396,260 216,348
SHAREHOLDERS' FUNDS 807,807 821,938

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 13 August 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 13 August 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.

SEAFIELD HOTEL (PAIGNTON) LIMITED (REGISTERED NUMBER: 01353002)

BALANCE SHEET - continued
13 AUGUST 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by:




Mrs L Langley-Churchward - Director



Mr D Churchward - Director


SEAFIELD HOTEL (PAIGNTON) LIMITED (REGISTERED NUMBER: 01353002)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 13 AUGUST 2024


1. STATUTORY INFORMATION

Seafield Hotel (Paignton) 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2023 - NIL).

SEAFIELD HOTEL (PAIGNTON) LIMITED (REGISTERED NUMBER: 01353002)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 13 AUGUST 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 950,000
Disposals (250,000 )
At 13 August 2024 700,000
NET BOOK VALUE
At 13 August 2024 700,000
At 31 March 2023 950,000

Fair value at 13 August 2024 is represented by:
£   
Valuation in 2017 700,000

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 240,000 295,957

The investment property was valued on an open market basis on 1 April 2017 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 848 848

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 28,782 6,325
Social security and other taxes - 872
Deposits 2,275 2,275
Directors' current accounts - 5,106
Accrued expenses 2,481 2,366
33,538 16,944

7. RESERVES
Revaluation
reserve
£   
At 1 April 2023 604,590
Revaluation on freeholds (194,043 )

At 13 August 2024 410,547

SEAFIELD HOTEL (PAIGNTON) LIMITED (REGISTERED NUMBER: 01353002)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 13 AUGUST 2024


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 13 August 2024 and the year ended 31 March 2023:

2024 2023
£    £   
Mr D L Churchward
Balance outstanding at start of period (4,790 ) (9,440 )
Amounts advanced 7,790 17,290
Amounts repaid (3,000 ) (12,640 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - (4,790 )

Mrs L Langley-Churchward
Balance outstanding at start of period (316 ) (316 )
Amounts advanced 22,000 11,000
Amounts repaid (21,684 ) (11,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - (316 )