REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Elstead Hotel (Bournemouth) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Elstead Hotel (Bournemouth) Limited |
Elstead Hotel (Bournemouth) Limited (Registered number: 01674002) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Chartered Certified Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
Elstead Hotel (Bournemouth) Limited |
Company Information |
for the Year Ended 31 December 2023 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Chartered Certified Accountants |
19 Welling High Street |
Welling |
Kent |
DA16 1TR |
Chartered Certified Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Elstead Hotel (Bournemouth) Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Elstead Hotel (Bournemouth) Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
This report is made solely to the Board of Directors of Elstead Hotel (Bournemouth) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Elstead Hotel (Bournemouth) Limited and state those matters that we have agreed to state to the Board of Directors of Elstead Hotel (Bournemouth) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Elstead Hotel (Bournemouth) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Elstead Hotel (Bournemouth) Limited. You consider that Elstead Hotel (Bournemouth) Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Elstead Hotel (Bournemouth) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Certified Accountants |
19 Welling High Street |
Welling |
Kent |
DA16 1TR |
Elstead Hotel (Bournemouth) Limited (Registered number: 01674002) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital | 7 |
Retained earnings | ( |
) | ( |
) |
Shareholder funds | ( |
) | ( |
) |
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. |
Elstead Hotel (Bournemouth) Limited (Registered number: 01674002) |
Balance Sheet - continued |
31 December 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Elstead Hotel (Bournemouth) Limited (Registered number: 01674002) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | Statutory information |
Elstead Hotel (Bournemouth) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales for accommodation and conference facilities, subscriptions from the Leisure Centre, income from the bar and sundry income all excluding Value Added Tax. Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added tax and other sales taxes. |
Tangible fixed assets |
Government grants |
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. |
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 balance sheet date. |
Elstead Hotel (Bournemouth) Limited (Registered number: 01674002) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | Accounting policies - continued |
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. |
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. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Cost |
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 |
5. | Debtors: amounts falling due within one year |
31.12.23 | 31.12.22 |
£ | £ |
Trade debtors |
Other debtors |
See related party note for description of amounts included in trade debtors that relate to the Communication Workers Union. |
Elstead Hotel (Bournemouth) Limited (Registered number: 01674002) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
6. | Creditors: amounts falling due within one year |
31.12.23 | 31.12.22 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
See related party note for description of amounts included in trade and other creditors that relate to the Communication Workers Union. |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.23 | 31.12.22 |
value: | £ | £ |
Ordinary | 1 | 10,000 | 10,000 |
8. | Related party transactions |
The ownership of the Company vests with the Trustees of the Communication Workers Union for whom the Company provides conference and education facilities. |
The balance owed to the Company by the Union in respect of these facilities and included in trade debtors at the year end was £109,722 (2022: £109,722) |
Included in trade creditors at the year end was £199,838 (2022: £199,838) owed to the Union from the Company in respect of rental and management charges. |
Included in other creditors is a debenture loan of £480,000 (2022: £480,000) from The Communication Workers Union. It is secured by a floating charge over the Company's assets and has no fixed repayment date or interest rate. No interest was charged and no repayments were made in the year. |
Also included in other creditors is a loan from The Communication Workers Union to provide the company with additional working capital. As at the year end the loan amount owed to The Communication Workers Union was £1,155,568 (2022: £908,568) and this loan is unsecured, interest free and repayable on demand. |
Also included in other creditors is £48,296 (2022: £48,296) lent to the company by one of the Directors to assist with working capital. There have been no movements in the year. This loan is unsecured, interest free and repayable on demand. |
9. | Ultimate controlling party |
The ultimate parent entity is The Communication Workers Union, a registered UK Trade Union. |