IRIS Accounts Production v24.1.9.2 02542214 Board of Directors 30.1.23 28.1.24 28.1.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh025422142023-01-29025422142024-01-28025422142023-01-302024-01-28025422142022-01-30025422142022-01-312023-01-29025422142023-01-2902542214ns15:EnglandWales2023-01-302024-01-2802542214ns14:PoundSterling2023-01-302024-01-2802542214ns10:Director12023-01-302024-01-2802542214ns10:PrivateLimitedCompanyLtd2023-01-302024-01-2802542214ns10:SmallEntities2023-01-302024-01-2802542214ns10:AuditExempt-NoAccountantsReport2023-01-302024-01-2802542214ns10:SmallCompaniesRegimeForDirectorsReport2023-01-302024-01-2802542214ns10:SmallCompaniesRegimeForAccounts2023-01-302024-01-2802542214ns10:FullAccounts2023-01-302024-01-2802542214ns10:OrdinaryShareClass12023-01-302024-01-2802542214ns10:Director22023-01-302024-01-2802542214ns10:RegisteredOffice2023-01-302024-01-2802542214ns5:CurrentFinancialInstruments2024-01-2802542214ns5:CurrentFinancialInstruments2023-01-2902542214ns5:ShareCapital2024-01-2802542214ns5:ShareCapital2023-01-2902542214ns5:RevaluationReserve2024-01-2802542214ns5:RevaluationReserve2023-01-2902542214ns5:RetainedEarningsAccumulatedLosses2024-01-2802542214ns5:RetainedEarningsAccumulatedLosses2023-01-2902542214ns5:LandBuildings2023-01-2902542214ns5:LeaseholdImprovements2023-01-2902542214ns5:PlantMachinery2023-01-2902542214ns5:LandBuildings2023-01-302024-01-2802542214ns5:LeaseholdImprovements2023-01-302024-01-2802542214ns5:PlantMachinery2023-01-302024-01-2802542214ns5:LandBuildings2024-01-2802542214ns5:LeaseholdImprovements2024-01-2802542214ns5:PlantMachinery2024-01-2802542214ns5:LandBuildings2023-01-2902542214ns5:LeaseholdImprovements2023-01-2902542214ns5:PlantMachinery2023-01-2902542214ns5:FurnitureFittings2023-01-2902542214ns5:ComputerEquipment2023-01-2902542214ns5:FurnitureFittings2023-01-302024-01-2802542214ns5:ComputerEquipment2023-01-302024-01-2802542214ns5:FurnitureFittings2024-01-2802542214ns5:ComputerEquipment2024-01-2802542214ns5:FurnitureFittings2023-01-2902542214ns5:ComputerEquipment2023-01-2902542214ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-2802542214ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-2902542214ns10:OrdinaryShareClass12024-01-2802542214ns5:RevaluationReserve2023-01-29
REGISTERED NUMBER: 02542214 (England and Wales)






















Unaudited Financial Statements

for the Period

30 January 2023 to 28 January 2024

for

Damon's Motel Limited

Damon's Motel Limited (Registered number: 02542214)






Contents of the Financial Statements
for the Period 30 January 2023 to 28 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Damon's Motel Limited

Company Information
for the Period 30 January 2023 to 28 January 2024







DIRECTORS: J E Foulston
S A Carey





REGISTERED OFFICE: 999 Doddington Road
Lincoln
Lincolnshire
LN6 3SE





REGISTERED NUMBER: 02542214 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Damon's Motel Limited (Registered number: 02542214)

Balance Sheet
28 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,529,378 1,459,910

CURRENT ASSETS
Stocks 924 995
Debtors 5 981,334 1,014,708
Cash at bank and in hand 22,375 16,626
1,004,633 1,032,329
CREDITORS
Amounts falling due within one year 6 83,742 62,260
NET CURRENT ASSETS 920,891 970,069
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,450,269

2,429,979

PROVISIONS FOR LIABILITIES 101,054 82,426
NET ASSETS 2,349,215 2,347,553

CAPITAL AND RESERVES
Called up share capital 7 2 2
Revaluation reserve 8 55,700 55,700
Retained earnings 2,293,513 2,291,851
SHAREHOLDERS' FUNDS 2,349,215 2,347,553

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 January 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 January 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.

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 19 July 2024 and were signed on its behalf by:





S A Carey - Director


Damon's Motel Limited (Registered number: 02542214)

Notes to the Financial Statements
for the Period 30 January 2023 to 28 January 2024

1. STATUTORY INFORMATION

Damon's Motel 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.

The financial statements have been prepared for a period of 52 weeks to 28 January 2024, whereas the comparative period was prepared for the 52 weeks to 29 January 2023.

Turnover
Turnover comprises revenue recognised by the company in respect of operating a motel during the period, exclusive of Value Added Tax and discounts.

Turnover is recognised at the point of payment.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Freehold property-2% straight line
Improvements to property - 10 % reducing balance
Plant & machinery-10 % reducing balance
Fixtures & fittings-10 % reducing balance

Land is not depreciated.

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

Financial instruments
Financial instruments Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.


Damon's Motel Limited (Registered number: 02542214)

Notes to the Financial Statements - continued
for the Period 30 January 2023 to 28 January 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 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.

Pensions
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 20 (2023 - 22 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Land and to Plant and
Buildings property machinery
£    £    £   
COST OR VALUATION
At 30 January 2023 1,100,000 91,866 336,809
Additions - 78,959 36,450
At 28 January 2024 1,100,000 170,825 373,259
DEPRECIATION
At 30 January 2023 36,727 9,187 278,853
Charge for period 9,789 16,163 9,574
At 28 January 2024 46,516 25,350 288,427
NET BOOK VALUE
At 28 January 2024 1,053,484 145,475 84,832
At 29 January 2023 1,063,273 82,679 57,956

Damon's Motel Limited (Registered number: 02542214)

Notes to the Financial Statements - continued
for the Period 30 January 2023 to 28 January 2024

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST OR VALUATION
At 30 January 2023 925,939 3,185 2,457,799
Additions 13,615 - 129,024
At 28 January 2024 939,554 3,185 2,586,823
DEPRECIATION
At 30 January 2023 671,592 1,530 997,889
Charge for period 23,608 422 59,556
At 28 January 2024 695,200 1,952 1,057,445
NET BOOK VALUE
At 28 January 2024 244,354 1,233 1,529,378
At 29 January 2023 254,347 1,655 1,459,910

Included in cost or valuation of land and buildings is freehold land of £ 181,827 (2023 - £ 181,827 ) which is not depreciated.

Analysis of the cost of freehold property using the deemed cost exemption:

20232022
£   £   
Historical cost 1,042,4241,042,424
Valuation57,57657,576
Deemed cost1,100,0001,100,000


In 2022 the the directors deemed it appropriate to reduce the holding value of the freehold property based on current market trends.


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,012 2,094
Amounts owed by group undertakings 964,550 998,153
Other debtors 12,772 14,461
981,334 1,014,708

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 46,944 19,296
Taxation and social security 18,290 26,545
Other creditors 18,508 16,419
83,742 62,260

Damon's Motel Limited (Registered number: 02542214)

Notes to the Financial Statements - continued
for the Period 30 January 2023 to 28 January 2024

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

8. RESERVES
Revaluation
reserve
£   
At 30 January 2023
and 28 January 2024 55,700

9. CONTINGENT LIABILITIES

The company is party to a bank cross guarantee and debenture with fellow subsidiary undertakings Damon's Restaurants (UK) Limited and Damon's Developments Limited, together with its parent undertaking, Damon's (Holdings) Limited. The total bank borrowings of these entities to which the guarantee refers as at 29 January 2024 amounted to £1,055,500 (2023: £331,510).

10. RELATED PARTY TRANSACTIONS

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.

11. ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY

The ultimate parent undertaking is Damon's (Holdings) Limited.

The ultimate controlling party is J E Foulston.