Registered number
09074701
HOSPITALITY CENTRE LIMITED
Filleted Accounts
30 June 2024
HOSPITALITY CENTRE LIMITED
Registered number: 09074701
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,054 6,349
Current assets
Stocks 325,812 146,791
Debtors 4 167,985 202,082
Cash at bank and in hand 323,535 116,984
817,332 465,857
Creditors: amounts falling due within one year 5 (649,588) (340,562)
Net current assets 167,744 125,295
Total assets less current liabilities 172,798 131,644
Creditors: amounts falling due after more than one year 6 (76,667) (116,667)
Net assets 96,131 14,977
Capital and reserves
Called up share capital 100 100
Profit and loss account 96,031 14,877
Shareholders' funds 96,131 14,977
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K Sharp
Director
Approved by the board on 19 December 2024
HOSPITALITY CENTRE LIMITED
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 3 years
Fixtures, fittings, tools and equipment over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 17,193
Additions 2,337
At 30 June 2024 19,530
Depreciation
At 1 July 2023 10,844
Charge for the year 3,632
At 30 June 2024 14,476
Net book value
At 30 June 2024 5,054
At 30 June 2023 6,349
4 Debtors 2024 2023
£ £
Trade debtors 164,699 199,905
Other debtors 3,286 2,177
167,985 202,082
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 20,219 -
Trade creditors 556,617 311,791
Taxation and social security costs 48,379 28,381
Other creditors 24,373 390
649,588 340,562
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 76,667 116,667
7 Other information
HOSPITALITY CENTRE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
124 City Road
London
EC1V 2NX
HOSPITALITY CENTRE LIMITED 09074701 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts October 2023 release 2 K Sharp No description of principal activity 09074701 2022-07-01 2023-06-30 09074701 core:WithinOneYear 2023-06-30 09074701 core:AfterOneYear 2023-06-30 09074701 core:ShareCapital 2023-06-30 09074701 core:RetainedEarningsAccumulatedLosses 2023-06-30 09074701 2023-07-01 2024-06-30 09074701 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 09074701 bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 09074701 bus:Director40 2023-07-01 2024-06-30 09074701 1 2023-07-01 2024-06-30 09074701 2 2023-07-01 2024-06-30 09074701 core:PlantMachinery 2023-07-01 2024-06-30 09074701 countries:England 2023-07-01 2024-06-30 09074701 bus:FRS102 2023-07-01 2024-06-30 09074701 bus:FullAccounts 2023-07-01 2024-06-30 09074701 2024-06-30 09074701 core:WithinOneYear 2024-06-30 09074701 core:AfterOneYear 2024-06-30 09074701 core:ShareCapital 2024-06-30 09074701 core:RetainedEarningsAccumulatedLosses 2024-06-30 09074701 core:PlantMachinery 2024-06-30 09074701 2023-06-30 09074701 core:PlantMachinery 2023-06-30 iso4217:GBP xbrli:pure