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Registered number: 12274059
Knowesgate Hotel Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Kash Shah Accountants UK Ltd
Chartered Certified Accountants
165 Crescent Road
Middlesbrough
TS1 4QT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12274059
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,318 3,513
9,318 3,513
CURRENT ASSETS
Debtors 5 25,000 25,000
Cash at bank and in hand 739 13,548
25,739 38,548
Creditors: Amounts Falling Due Within One Year 6 (74,185 ) (25,823 )
NET CURRENT ASSETS (LIABILITIES) (48,446 ) 12,725
TOTAL ASSETS LESS CURRENT LIABILITIES (39,128 ) 16,238
Creditors: Amounts Falling Due After More Than One Year 7 (185,718 ) (37,658 )
NET LIABILITIES (224,846 ) (21,420 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (224,847 ) (21,421 )
SHAREHOLDERS' FUNDS (224,846) (21,420)
Page 1
Page 2
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ejaz HUSSAIN
Director
26/02/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Knowesgate Hotel Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12274059 . The registered office is 250 Marton Road, Middlesbrough, Cleveland, TS4 2EZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% SLM
Fixtures & Fittings 20% SLM
3. Average Number of Employees
Average number of employees, including directors, during the year was: 27 (2023: 18)
27 18
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 November 2023 7,154 - 7,154
Additions 3,296 3,940 7,236
As at 31 October 2024 10,450 3,940 14,390
Depreciation
As at 1 November 2023 3,641 - 3,641
Provided during the period 1,431 - 1,431
As at 31 October 2024 5,072 - 5,072
Net Book Value
As at 31 October 2024 5,378 3,940 9,318
As at 1 November 2023 3,513 - 3,513
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 25,000 25,000
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 22,384 -
Other taxes and social security 16,751 -
VAT 33,904 22,816
Director's loan account 1,146 2,119
Amounts owed to related parties - 888
74,185 25,823
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 35,718 37,658
Other loans 150,000 -
185,718 37,658
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4