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Sage Accounts Production 23.0 - FRS102_2023
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06395520
2023-01-01
2023-12-31
06395520
2023-12-31
06395520
2022-12-31
06395520
2022-01-01
2022-12-31
06395520
2022-12-31
06395520
2021-12-31
06395520
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2023-01-01
2023-12-31
06395520
bus:OrdinaryShareClass1
2023-01-01
2023-12-31
06395520
bus:LeadAgentIfApplicable
2023-01-01
2023-12-31
06395520
bus:Director1
2023-01-01
2023-12-31
06395520
core:LandBuildings
core:LongLeaseholdAssets
2022-12-31
06395520
core:LandBuildings
core:ShortLeaseholdAssets
2022-12-31
06395520
core:FurnitureFittingsToolsEquipment
2022-12-31
06395520
core:LandBuildings
core:LongLeaseholdAssets
2023-12-31
06395520
core:LandBuildings
core:ShortLeaseholdAssets
2023-12-31
06395520
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2023-12-31
06395520
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2023-12-31
06395520
core:WithinOneYear
2022-12-31
06395520
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2023-12-31
06395520
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2022-12-31
06395520
core:ShareCapital
2023-12-31
06395520
core:ShareCapital
2022-12-31
06395520
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2023-12-31
06395520
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2022-12-31
06395520
bus:OrdinaryShareClass1
core:ShareCapital
2023-12-31
06395520
bus:OrdinaryShareClass1
core:ShareCapital
2022-12-31
06395520
core:LandBuildings
core:LongLeaseholdAssets
2023-01-01
2023-12-31
06395520
core:LandBuildings
core:ShortLeaseholdAssets
2023-01-01
2023-12-31
06395520
core:FurnitureFittingsToolsEquipment
2023-01-01
2023-12-31
06395520
core:LandBuildings
core:LongLeaseholdAssets
2022-12-31
06395520
core:LandBuildings
core:ShortLeaseholdAssets
2022-12-31
06395520
core:FurnitureFittingsToolsEquipment
2022-12-31
06395520
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2022-12-31
06395520
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2023-12-31
06395520
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2023-12-31
06395520
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06395520
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06395520
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06395520
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2023-01-01
2023-12-31
06395520
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06395520
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2023-01-01
2023-12-31
Ethos Hotels Limited
Filleted accounts
31 December 2023
Company registration number:
06395520
Ethos Hotels Limited
Directors and other information
|
|
|
|
Director |
S N Walshaw |
|
|
|
|
|
|
|
Company number |
06395520 |
|
|
|
|
|
|
|
Registered office |
59 Western Road |
|
|
Grandpont |
|
|
Oxford |
|
|
OX1 4LP |
|
|
|
|
|
|
|
Accountants |
Cox Hinkins & Co. Limited |
|
|
Accountants and Taxation Advisors |
|
|
The Old Dairy |
|
|
12 Stephen Road |
|
|
Headington |
|
|
Oxford |
|
|
OX3 9AY |
|
|
|
Ethos Hotels Limited
Balance sheet
31st December 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
202,744 |
|
|
|
182,988 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
202,744 |
|
|
|
182,988 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
8,800 |
|
|
|
7,600 |
|
|
Debtors |
|
6 |
71,297 |
|
|
|
21,368 |
|
|
Cash at bank and in hand |
|
|
131,777 |
|
|
|
11,029 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
211,874 |
|
|
|
39,997 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
143,772) |
|
|
|
(
259,685) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets/(liabilities) |
|
|
|
|
68,102 |
|
|
|
(
219,688) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
270,846 |
|
|
|
(
36,700) |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
8 |
|
|
(
340,335) |
|
|
|
(
37,692) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Net liabilities |
|
|
|
|
(
69,489) |
|
|
|
(
74,392) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
9 |
|
|
2 |
|
|
|
2 |
Profit and loss account |
|
|
|
|
(
69,491) |
|
|
|
(
74,394) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders deficit |
|
|
|
|
(
69,489) |
|
|
|
(
74,392) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit & loss account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
25 September 2024
, and are signed on behalf of the board by:
S N Walshaw
Director
Company registration number:
06395520
Ethos Hotels Limited
Notes to the financial statements
Year ended 31st December 2023
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 59 Western Road, Grandpont, Oxford, OX1 4LP. There was no significant change in the company's principal activity during the year which continued to be that of
hotel management
.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.
Going concern
At 31st December 2023 the company had a deficiency of assets amounting to £69,489 (2022: £74,392). The company is reliant upon the financial support and guarantees of its director who has indicated that these will be continued for at least a further 12 months from the date of approval of these accounts. In light of this continued support, the financial statements have been prepared on the going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are not recognised as it is uncertain when they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
Leasehold property |
- |
Straight line basis over between 12 and 25 years |
|
Fixtures & fittings |
- |
Straight line basis over 10 years |
|
Office equipment |
- |
Straight line basis over 3 years |
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. Cost is calculated using the first in, first out formula. Provision is made for damaged, obsolete and slow moving stock where appropriate.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractualarrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
15
(2022:
13
).
5.
Tangible assets
|
|
Long leasehold property |
Short leasehold property |
Fixtures, fittings and equipment |
Total |
|
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1st January 2023 |
138,530 |
66,609 |
100,788 |
305,927 |
|
|
|
|
Additions |
- |
42,301 |
4,280 |
46,581 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 31st December 2023 |
138,530 |
108,910 |
105,068 |
352,508 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1st January 2023 |
26,779 |
42,711 |
53,449 |
122,939 |
|
|
|
|
Charge for the year |
5,458 |
10,040 |
11,327 |
26,825 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 31st December 2023 |
32,237 |
52,751 |
64,776 |
149,764 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31st December 2023 |
106,293 |
56,159 |
40,292 |
202,744 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 31st December 2022 |
111,751 |
23,898 |
47,339 |
182,988 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Other debtors |
|
71,297 |
21,368 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans |
|
55,688 |
5,385 |
|
Trade creditors |
|
5,247 |
3,781 |
|
Social security and other taxes |
|
10,871 |
31,569 |
|
Other creditors |
|
71,966 |
218,950 |
|
|
|
_______ |
_______ |
|
|
|
143,772 |
259,685 |
|
|
|
_______ |
_______ |
|
|
|
|
|
Bank loans include £5,385 (2022: £5,385) which are secured on the company's assets.
8.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans |
|
340,335 |
37,692 |
|
|
|
_______ |
_______ |
|
|
|
|
|
Bank loans include £32,308 (2022: £37,692) which are secured on the company's assets.
9.
Called up share capital
Issued, called up and fully paid
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £
1.00 each |
|
2 |
|
2 |
|
2 |
|
2 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|
10.
Directors advances, credits and guarantees
|
During the year the director entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the director |
Amounts repaid |
Amounts written off |
Amounts waived |
Balance o/standing |
|
|
£ |
£ |
£ |
£ |
£ |
£ |
|
S N Walshaw |
(
156,315) |
194,076 |
- |
- |
- |
37,761 |
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
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|
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|
|
11.
Controlling party
The company is under the control of Ethospitality Ltd, a non-trading holding company incorporated in England and Wales, which owns 100% of the issued share capital.