Dunalastair Hotel Suites Limited |
Registered number: |
08670756 |
Balance Sheet |
as at 31 December 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
1,119 |
|
|
2,768 |
|
Current assets |
Stocks |
|
|
11,363 |
|
|
14,607 |
Debtors |
4 |
|
26,386 |
|
|
79,914 |
Cash at bank and in hand |
|
|
26,444 |
|
|
67,241 |
|
|
|
64,193 |
|
|
161,762 |
|
Creditors: amounts falling due within one year |
5 |
|
(2,663,016) |
|
|
(2,531,400) |
|
Net current liabilities |
|
|
|
(2,598,823) |
|
|
(2,369,638) |
|
Total assets less current liabilities |
|
|
|
(2,597,704) |
|
|
(2,366,870) |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(15,000) |
|
|
(25,000) |
|
|
|
Net liabilities |
|
|
|
(2,612,704) |
|
|
(2,391,870) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
3 |
|
|
3 |
Profit and loss account |
|
|
|
(2,612,707) |
|
|
(2,391,873) |
|
Shareholders' funds |
|
|
|
(2,612,704) |
|
|
(2,391,870) |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
T Z Usmani |
Director |
Approved by the board on 30 August 2024 |
|
Dunalastair Hotel Suites Limited |
Notes to the Accounts |
for the year ended 31 December 2023 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents amounts receivable in respect of hotel accommodation, food and beverages and other ancillary income, net of VAT. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
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. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis: |
|
Computers |
over 3 years |
|
Website Developments |
over 2 years |
|
Plant and machinery |
over 4 years |
|
Fixtures, fittings, tools and equipment |
over 4 years |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Pensions |
|
Defined contribution pension plan The Company operates 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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds. |
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
22 |
|
19 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 January 2023 |
53,128 |
|
Additions |
1,164 |
|
At 31 December 2023 |
54,292 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2023 |
50,360 |
|
Charge for the year |
2,813 |
|
At 31 December 2023 |
53,173 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2023 |
1,119 |
|
At 31 December 2022 |
2,768 |
|
|
4 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Other debtors |
26,386 |
|
79,914 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans and overdrafts |
10,000 |
|
10,000 |
|
Trade creditors |
393,847 |
|
299,133 |
|
Taxation and social security costs |
87,380 |
|
23,490 |
|
Other creditors |
2,171,789 |
|
2,198,777 |
|
|
|
|
|
|
2,663,016 |
|
2,531,400 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans |
15,000 |
|
25,000 |
|
|
|
|
|
|
|
|
|
|
7 |
Loans |
2023 |
|
2022 |
£ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
25,000 |
|
35,000 |
|
|
|
|
|
|
|
|
|
|
[Give an indication of the nature and form of the security for the bank loans] |
|
|
8 |
Other financial commitments |
2023 |
|
2022 |
£ |
£ |
|
|
Total future minimum payments under non-cancellable operating leases |
|
1,080,000 |
|
1,440,000 |
|
|
|
|
|
|
|
|
|
|
9 |
Related party transactions |
|
|
At the period end the company owed £2,059,538 (2022: £2,056,310) to companies under common control. No interest is charged on these balances. During the year, the company made rental payments of £360,000 (2022: £346,667) to a company under common control. The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ not to disclose related party transactions between two or more wholly owned members of a group. |
|
|
10 |
Other information |
|
|
Dunalastair Hotel Suites Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
50 Havelock Terrace |
|
London |
|
SW8 4AL |