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REGISTERED NUMBER: 11178496 (England and Wales)


















ORIEL HOTEL LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






ORIEL HOTEL LTD (REGISTERED NUMBER: 11178496)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ORIEL HOTEL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S J Denton Esq
Mrs J M Denton





REGISTERED OFFICE: First Floor Suite
23 Trinity Square
LLANDUDNO
North Wales
LL30 2RH





REGISTERED NUMBER: 11178496 (England and Wales)





ACCOUNTANTS: Hawley and Company
Chartered Accountants & Chartered Tax Advisers
First Floor Suite
23 Trinity Square
LLANDUDNO
North Wales
LL30 2RH

ORIEL HOTEL LTD (REGISTERED NUMBER: 11178496)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 78,383 91,725
Tangible assets 5 213,058 239,267
291,441 330,992

CURRENT ASSETS
Stocks 6 10,050 12,165
Debtors 7 77,616 86,396
Cash at bank and in hand 19,813 14,141
107,479 112,702
CREDITORS
Amounts falling due within one year 8 130,372 188,540
NET CURRENT LIABILITIES (22,893 ) (75,838 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

268,548

255,154

CREDITORS
Amounts falling due after more than one year 9 293,787 195,837
NET (LIABILITIES)/ASSETS (25,239 ) 59,317

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings (25,339 ) 59,217
SHAREHOLDERS' FUNDS (25,239 ) 59,317

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

ORIEL HOTEL LTD (REGISTERED NUMBER: 11178496)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023


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 20 August 2024 and were signed on its behalf by:




S J Denton Esq - Director



Mrs J M Denton - Director


ORIEL HOTEL LTD (REGISTERED NUMBER: 11178496)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Oriel Hotel Ltd 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten 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
Computer equipment - 33% on reducing balance

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

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

ORIEL HOTEL LTD (REGISTERED NUMBER: 11178496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company makes pension contributions on behalf of directors and staff. Contributions paid during the year are charged to the profit and loss account.

Trade and other debtors
Trade and other debtors are initially recognised at their transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Trade and other creditors
Trade and other creditors are initially recognised at their transaction price and are thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2022 - 50 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 133,418
AMORTISATION
At 1 January 2023 41,693
Amortisation for year 13,342
At 31 December 2023 55,035
NET BOOK VALUE
At 31 December 2023 78,383
At 31 December 2022 91,725

ORIEL HOTEL LTD (REGISTERED NUMBER: 11178496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 335,136 47,191 382,327
Additions 11,541 3,932 15,473
At 31 December 2023 346,677 51,123 397,800
DEPRECIATION
At 1 January 2023 111,221 31,839 143,060
Charge for year 35,318 6,364 41,682
At 31 December 2023 146,539 38,203 184,742
NET BOOK VALUE
At 31 December 2023 200,138 12,920 213,058
At 31 December 2022 223,915 15,352 239,267

6. STOCKS
2023 2022
£    £   
Stocks 10,050 12,165

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 12,471 16,467
Other debtors - 9,956
Prepayments 7,785 19,367
20,256 45,790

Amounts falling due after more than one year:
Deferred tax asset 57,360 40,606

Aggregate amounts 77,616 86,396

The deferred tax asset relates to tax losses carried forward.

ORIEL HOTEL LTD (REGISTERED NUMBER: 11178496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,500 5,500
Other loans 16,700 -
Trade creditors 13,466 64,099
Social security and other taxes 24,171 37,348
Other creditors 21,894 47,507
Accruals 48,641 34,086
130,372 188,540

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loan 31,074 36,630
Other loans 83,300 -
Directors' loan account 179,413 159,207
293,787 195,837

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Between one and five years 1,170 1,950

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

12. OTHER FINANCIAL COMMITMENTS

There is a fixed and floating charge over the assets of the company, in favour of Barclays Bank PLC.

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company rents premises, which are owned by the directors, on an arm's length basis.