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REGISTERED NUMBER: NI627990 (Northern Ireland)












Unaudited Financial Statements

for the Period 1 January 2023 to 30 June 2024

for

The Northern Portrush Hotel Limited

The Northern Portrush Hotel Limited (Registered number: NI627990)






Contents of the Financial Statements
for the Period 1 January 2023 to 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Northern Portrush Hotel Limited

Company Information
for the Period 1 January 2023 to 30 June 2024







DIRECTORS: Mr L Duddy
Mr B Duddy Jnr
Mrs P Duddy
Mrs S Downey





REGISTERED OFFICE: 30-32 Lodge Road
Coleraine
Londonderry
BT52 1NB





REGISTERED NUMBER: NI627990 (Northern Ireland)





ACCOUNTANTS: HMCI Limited
T/A Hamill McIlwaine
28-30 Old Mountfield Road
Omagh
Co. Tyrone
BT79 7BJ

The Northern Portrush Hotel Limited (Registered number: NI627990)

Balance Sheet
30 June 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 2,646,562 2,733,204

CURRENT ASSETS
Inventories 13,065 12,407
Debtors 5 1,972,971 189,920
Cash at bank 142,437 182,325
2,128,473 384,652
CREDITORS
Amounts falling due within one year 6 708,129 652,042
NET CURRENT ASSETS/(LIABILITIES) 1,420,344 (267,390 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,066,906

2,465,814

CREDITORS
Amounts falling due after more than one
year

7

(3,581,053

)

(1,684,137

)

PROVISIONS FOR LIABILITIES 8 - (29,722 )

ACCRUALS AND DEFERRED INCOME - (1,755 )
NET ASSETS 485,853 750,200

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 484,853 749,200
SHAREHOLDERS' FUNDS 485,853 750,200

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 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 Northern Portrush Hotel Limited (Registered number: NI627990)

Balance Sheet - continued
30 June 2024


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 and authorised for issue by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by:





Mr B Duddy Jnr - Director


The Northern Portrush Hotel Limited (Registered number: NI627990)

Notes to the Financial Statements
for the Period 1 January 2023 to 30 June 2024

1. STATUTORY INFORMATION

The Northern Portrush Hotel Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal activity of the company is owning and operating a hotel.

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.

Turnover
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.Turnover is recognised when and to the extent that the company obtains the right to consideration in exchange for its performance.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of the assets less their residual value over their estimated useful lives, on the following basis:

Freehold property2 - 5% straight line
Plant and machinery7.5% straight line
Fixtures, fittings and equipment15% straight line

Depreciation is not charged on freehold land.

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively, if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the net proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

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


The Northern Portrush Hotel Limited (Registered number: NI627990)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 30 June 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 taxation
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Short-term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Going concern
The directors have a reasonable expectation that there is sufficient resources available to allow the company to continue to operate for a period of not less than 12 months from the date of the approval of the financial statements and for the foreseeable future. Therefore the directors have adopted the going concern basis in preparing these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 35 (2022 - 36 ) .

The Northern Portrush Hotel Limited (Registered number: NI627990)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 30 June 2024

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 January 2023 2,915,424 352,623 147,013 3,415,060
Additions - 11,843 - 11,843
At 30 June 2024 2,915,424 364,466 147,013 3,426,903
DEPRECIATION
At 1 January 2023 353,189 208,148 120,519 681,856
Charge for period 45,463 40,558 12,464 98,485
At 30 June 2024 398,652 248,706 132,983 780,341
NET BOOK VALUE
At 30 June 2024 2,516,772 115,760 14,030 2,646,562
At 31 December 2022 2,562,235 144,475 26,494 2,733,204

5. DEBTORS
2024 2022
£    £   
Amounts falling due within one year:
Trade debtors 29,480 33,753
Amounts owed by group undertakings - 146,432
Other debtors 1,943,491 8,735
1,972,971 188,920

Amounts falling due after more than one year:
Amounts owed by group undertakings - 1,000

Aggregate amounts 1,972,971 189,920

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Bank loans and overdrafts - 266,044
Trade creditors 269,477 58,228
Taxation and social security 161,014 62,092
Other creditors 277,638 265,678
708,129 652,042

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2022
£    £   
Bank loans 3,581,053 1,684,137

The Northern Portrush Hotel Limited (Registered number: NI627990)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 619,961

8. PROVISIONS FOR LIABILITIES
2022
£   
Deferred tax 29,722

Deferred
tax
£   
Balance at 1 January 2023 29,722
Accelerated capital allowance (7,125 )
Losses carried forward (32,486 )
Balance at 30 June 2024 (9,889 )

9. RELATED PARTY DISCLOSURES

Amounts owed from other connected companies of £1,921,456 are included in other debtors in note 7.