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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
Page
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Lush Patrick & Wynn Hotels Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
77,718 
35,111 
Current assets
Inventories
5,550 
5,800 
Debtors
27,665 
31,863 
Cash at bank and in hand
104,923 
138,111 
138,138 
175,774 
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)
Net assets
82,390 
90,646 
Capital and reserves
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
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Lush Patrick & Wynn Hotels Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Pension costs
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 taxation
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.
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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 
Depreciation
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 
Net book value
At 29 February 2024
25,106 
47,985 
4,627 
77,718 
At 28 February 2023
5,053 
29,074 
984 
35,111 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
736 
3,045 
Other debtors
26,929 
25,525 
27,665 
28,570 
Amounts falling due after more than one year
Other debtors
- 
3,293 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,000 
9,873 
VAT
20,023 
16,153 
Trade creditors
28,978 
29,831 
Taxes and social security
5,471 
3,024 
Other creditors
34,974 
19,247 
Accruals
9,528 
7,250 
Deferred income
3,873 
5,165 
112,847 
90,543 
The bank loan is secured against the company's assets.
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
13,988 
23,985 
The bank loan is secured against the company's assets.
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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).
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