REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
THE COTSWOLD HOUSE HOTEL LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
THE COTSWOLD HOUSE HOTEL LIMITED |
THE COTSWOLD HOUSE HOTEL LIMITED (REGISTERED NUMBER: 03782744) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
THE COTSWOLD HOUSE HOTEL LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
40 High Street |
Northwood |
Middlesex |
HA6 1BN |
THE COTSWOLD HOUSE HOTEL LIMITED (REGISTERED NUMBER: 03782744) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Share premium |
Revaluation reserve | 8 |
Capital redemption reserve |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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 COTSWOLD HOUSE HOTEL LIMITED (REGISTERED NUMBER: 03782744) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
THE COTSWOLD HOUSE HOTEL LIMITED (REGISTERED NUMBER: 03782744) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
The Cotswold House Hotel Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company has been funded by an interest free loan from its parent company. The amount owed at the balance sheet date was £8,257,931 and is included in current liabilities. There are no fixed repayment terms and the parent company is not expected to request repayments until the company's cash flow allows. Due to this parent company support, the director believes it is appropriate to continue preparing the financial statements on a going concern basis. |
Related party exemption |
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 with wholly owned subsidiaries within the group. |
Tangible fixed assets |
Freehold properties | - |
Fixtures and fittings | - |
Land and buildings are stated at cost (or deemed cost for land and buildings held at valuation at the date of transition to FRS 102) less accumulated depreciation and any accumulated impairment losses. |
The company previously adopted a policy of revaluing land and buildings and these were stated at their revalued amount less any subsequent depreciation. The company has adopted the transition exemption under FRS 102 paragraph 35.10(d) and has elected to use the previous revaluation as deemed cost. |
The difference between depreciation based on the deemed cost charged in the profit and loss account and the asset's original cost is transferred from revaluation reserve to retained earnings. |
THE COTSWOLD HOUSE HOTEL LIMITED (REGISTERED NUMBER: 03782744) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Other operating income |
Rent receivable in respect of the company's hotel properties is included in other operating income. |
Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account. |
Cash and cash equivalent |
Cash and cash equivalent include cash in hand and deposits held at call with bank. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
THE COTSWOLD HOUSE HOTEL LIMITED (REGISTERED NUMBER: 03782744) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and |
properties | fittings | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Cost or valuation at 31 December 2023 is represented by: |
Fixtures |
Freehold | and |
properties | fittings | Totals |
£ | £ | £ |
Valuation in 2007 | 12,950,251 | - | 12,950,251 |
Cost | 3,425,833 | 268,271 | 3,694,104 |
16,376,084 | 268,271 | 16,644,355 |
If the freehold properties had not been revalued they would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 8,406,546 | 8,406,546 |
Aggregate depreciation | 2,619,176 | 2,489,045 |
The company's freehold hotel properties were valued in September 2007 at £14,450,000 by Edward Symmons, chartered surveyors. Their valuation basis was market value inclusive of goodwill, fixtures and fittings and the value attributed to these assets by the directors was equal to the net book amounts of those assets as at that date. In accordance with FRS 102, this valuation has not been updated. |
THE COTSWOLD HOUSE HOTEL LIMITED (REGISTERED NUMBER: 03782744) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors | 948,033 | 948,033 |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertak |
ings |
Trade creditors |
Tax |
VAT | 8,051 | 25,634 |
Other creditors |
Accruals and deferred income |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 280,000 | 280,000 |
8. | RESERVES |
Revaluation |
reserve |
£ |
At 1 January 2023 |
Transfer | (43,429 | ) |
At 31 December 2023 |