Company Registration No. 08411344 (England and Wales)
Lush Patrick & Wynn Hotels Limited
Unaudited accounts
for the year ended 29 February 2024
Lush Patrick & Wynn Hotels Limited
Unaudited accounts
Contents
Lush Patrick & Wynn Hotels Limited
Statement of financial position
as at 29 February 2024
Tangible assets
77,718
35,111
Cash at bank and in hand
104,923
138,111
Creditors: amounts falling due within one year
(112,847)
(90,543)
Net current assets
25,291
85,231
Total assets less current liabilities
103,009
120,342
Creditors: amounts falling due after more than one year
(13,988)
(23,985)
Provisions for liabilities
Deferred tax
(6,631)
(5,711)
Called up share capital
30,002
30,002
Profit and loss account
52,388
60,644
Shareholders' funds
82,390
90,646
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 September 2024 and were signed on its behalf by
D S Patrick
Director
Company Registration No. 08411344
Lush Patrick & Wynn Hotels Limited
Notes to the Accounts
for the year ended 29 February 2024
Lush Patrick & Wynn Hotels Limited is a private company, limited by shares, registered in England and Wales, registration number 08411344. The registered office is 2 Bailey Hill, Castle Cary, Somerset, BA7 7AD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the date the service is provided.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Plant & machinery
20% straight line
Fixtures & fittings
20% straight line
Computer equipment
20% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Lush Patrick & Wynn Hotels Limited
Notes to the Accounts
for the year ended 29 February 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2023
13,071
39,707
1,927
54,705
Additions
21,432
29,021
4,687
55,140
Disposals
(4,705)
(1,449)
-
(6,154)
At 29 February 2024
29,798
67,279
6,614
103,691
At 1 March 2023
8,018
10,633
943
19,594
Charge for the year
1,379
10,110
1,044
12,533
On disposals
(4,705)
(1,449)
-
(6,154)
At 29 February 2024
4,692
19,294
1,987
25,973
At 29 February 2024
25,106
47,985
4,627
77,718
At 28 February 2023
5,053
29,074
984
35,111
Amounts falling due within one year
Accrued income and prepayments
736
3,045
Other debtors
26,929
25,525
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,000
9,873
Trade creditors
28,978
29,831
Taxes and social security
5,471
3,024
Other creditors
34,974
19,247
Deferred income
3,873
5,165
The bank loan is secured against the company's assets.
7
Creditors: amounts falling due after more than one year
2024
2023
The bank loan is secured against the company's assets.
Lush Patrick & Wynn Hotels Limited
Notes to the Accounts
for the year ended 29 February 2024
8
Average number of employees
During the year the average number of employees was 28 (2023: 28).