25 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP SC477445 2023-06-01 2024-05-31 SC477445 2024-05-31 SC477445 2023-05-31 SC477445 2022-06-01 2023-05-31 SC477445 2023-05-31 SC477445 2022-05-31 SC477445 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 SC477445 core:PlantMachinery 2023-06-01 2024-05-31 SC477445 core:FurnitureFittings 2023-06-01 2024-05-31 SC477445 bus:Director1 2023-06-01 2024-05-31 SC477445 bus:Director2 2023-06-01 2024-05-31 SC477445 core:AfterOneYear 2024-05-31 SC477445 core:AfterOneYear 2023-05-31 SC477445 core:WithinOneYear 2024-05-31 SC477445 core:WithinOneYear 2023-05-31 SC477445 core:ShareCapital 2024-05-31 SC477445 core:ShareCapital 2023-05-31 SC477445 core:RetainedEarningsAccumulatedLosses 2024-05-31 SC477445 core:RetainedEarningsAccumulatedLosses 2023-05-31 SC477445 bus:SmallEntities 2023-06-01 2024-05-31 SC477445 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 SC477445 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 SC477445 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC477445 bus:AbridgedAccounts 2023-06-01 2024-05-31 SC477445 core:LeaseholdImprovements 2023-06-01 2024-05-31
COMPANY REGISTRATION NUMBER: SC477445
Mellor Hotels Limited
Filleted Unaudited Abridged Financial Statements
For the year ended
31 May 2024
Mellor Hotels Limited
Abridged Financial Statements
Year ended 31 May 2024
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
Mellor Hotels Limited
Abridged Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
488,584
518,582
Current assets
Stocks
13,303
12,215
Debtors
458
1,011
Cash at bank and in hand
78,894
128,641
--------
---------
92,655
141,867
Creditors: amounts falling due within one year
500,954
534,545
---------
---------
Net current liabilities
408,299
392,678
---------
---------
Total assets less current liabilities
80,285
125,904
Creditors: amounts falling due after more than one year
Bank loans and overdrafts
86,228
96,865
--------
---------
Net (liabilities)/assets
( 5,943)
29,039
--------
---------
Mellor Hotels Limited
Abridged Statement of Financial Position (continued)
31 May 2024
2024
2023
Note
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 6,043)
28,939
-------
--------
Shareholders (deficit)/funds
( 5,943)
29,039
-------
--------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 29 November 2024 , and are signed on behalf of the board by:
Mr P Mellor
Mrs L Mellor
Director
Director
Company registration number: SC477445
Mellor Hotels Limited
Notes to the Abridged Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Dunmuir Hotel, 11 Newhouse Terrace, Queens Road, Dunbar, EH42 1LG.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis . The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on the going concern basis reflecting the continuing support of the directors, who intend to ensure there are sufficient funds to meet the company's working capital requirement for the foreseeable future.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Land is considered to have an indefinite useful life therefore is not depreciated.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% reducing balance
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Improvements
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution pension plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 25 (2023: 19 ).
5. Tangible assets
£
Cost
At 1 June 2023
800,364
Additions
4,355
---------
At 31 May 2024
804,719
---------
Depreciation
At 1 June 2023
281,782
Charge for the year
34,353
---------
At 31 May 2024
316,135
---------
Carrying amount
At 31 May 2024
488,584
---------
At 31 May 2023
518,582
---------
6. Charges on assets
Creditors include bank loans & net obligations under finance lease and hire purchase contracts which are secured of £90,646 (2023 - £95,066).
7. Pension commitments
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The amount of unpaid contributions at the balance sheet date amounted to £1,125 (2023 - £1,002). This balance is included in other creditors.
8. Directors' advances, credits and guarantees
The directors' loan account was not in debit at any time during the year.