REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 31 July 2024 |
for |
Ashbourne Hotel Limited |
REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 31 July 2024 |
for |
Ashbourne Hotel Limited |
Ashbourne Hotel Limited (Registered number: 04200499) |
Contents of the Financial Statements |
for the Year Ended 31 July 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Ashbourne Hotel Limited |
Company Information |
for the Year Ended 31 July 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
8th Floor, Becket House |
36 Old Jewry |
London |
EC2R 8DD |
Ashbourne Hotel Limited (Registered number: 04200499) |
Statement of Financial Position |
31 July 2024 |
31.7.24 | 31.7.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the director and authorised for issue on |
Ashbourne Hotel Limited (Registered number: 04200499) |
Notes to the Financial Statements |
for the Year Ended 31 July 2024 |
1. | STATUTORY INFORMATION |
Ashbourne Hotel Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover comprises revenue recognised by the company during the year, in respect of goods and services that are common to hotels and their related activities, exclusive of Value Added Tax and trade discounts. |
Tangible fixed assets |
Plant and machinery etc | - |
Stocks |
Stocks are valued at the lower of cost and estimated selling price after making due allowance for obsolete and slow moving items. Stocks are valued on an average cost basis. |
Taxation |
Taxation for the year 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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. |
Ashbourne Hotel Limited (Registered number: 04200499) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 August 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Freehold land and property with a cost of £752,835 (2023: £752,835) and a net book value of £727,626 (2023: £727,626) are not being depreciated, this is a departure from FRS102. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Ashbourne Hotel Limited (Registered number: 04200499) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was qualified on the following basis: |
Basis for qualified opinion |
As this is the first year the company has had the requirement for an audit after previously taking advantage of audit exemption under s477 of the Companies Act, we are unable to satisfy ourselves concerning the closing balances for the year ended 31 July 2023, which form the opening balances included in the financial statements as at 31 July 2024. Consequently, we are unable to determine whether any adjustments to these amounts are necessary. |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, include the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion. |
for and on behalf of |
8. | RELATED PARTY DISCLOSURES |
At the year end, the related party balances were: |
31.7.24 | 31.7.23 |
£ | £ |
Balances owing from (to) related parties at the year end | 868 | (4,165) |
Sales to related parties | 868 | 2,063 |
Purchases from related parties | 10,959 | 8,178 |
The related parties are a company of which the director is also a director of. |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is Oak Ridge Hotels Limited. |
The ultimate controlling party is |