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REGISTERED NUMBER: 09256019 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

GLENCOE HOTELS LTD

GLENCOE HOTELS LTD (REGISTERED NUMBER: 09256019)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GLENCOE HOTELS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTOR: K Szegedi





REGISTERED OFFICE: 43-45 Marshall Avenue
Bridlington
East Yorkshire
YO15 2DT





REGISTERED NUMBER: 09256019 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

GLENCOE HOTELS LTD (REGISTERED NUMBER: 09256019)

BALANCE SHEET
31 OCTOBER 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - 3,400
Tangible assets 5 18,985 17,607
18,985 21,007

CURRENT ASSETS
Stocks 1,276 807
Debtors 6 333 13,042
Cash at bank 6,067 1,721
7,676 15,570
CREDITORS
Amounts falling due within one year 7 23,392 29,657
NET CURRENT LIABILITIES (15,716 ) (14,087 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,269

6,920

CREDITORS
Amounts falling due after more than one
year

8

(2,306

)

(6,000

)

PROVISIONS FOR LIABILITIES (459 ) -
NET ASSETS 504 920

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 404 820
SHAREHOLDERS' FUNDS 504 920

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

GLENCOE HOTELS LTD (REGISTERED NUMBER: 09256019)

BALANCE SHEET - continued
31 OCTOBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 April 2025 and were signed by:





K Szegedi - Director


GLENCOE HOTELS LTD (REGISTERED NUMBER: 09256019)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Glencoe Hotels Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable from hotel and accommodation activities excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised on supply of the goods and services.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Fixtures and fittings - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

GLENCOE HOTELS LTD (REGISTERED NUMBER: 09256019)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the statement of income and retained earnings over the relevant period. The capital element of the future payments is treated as a liability.

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 the statement of income and retained earnings in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 34,000
AMORTISATION
At 1 November 2023 30,600
Charge for year 3,400
At 31 October 2024 34,000
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 3,400

GLENCOE HOTELS LTD (REGISTERED NUMBER: 09256019)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2023 17,607 12,083 29,690
Additions - 2,163 2,163
At 31 October 2024 17,607 14,246 31,853
DEPRECIATION
At 1 November 2023 - 12,083 12,083
Charge for year 352 433 785
At 31 October 2024 352 12,516 12,868
NET BOOK VALUE
At 31 October 2024 17,255 1,730 18,985
At 31 October 2023 17,607 - 17,607

The net book value of tangible fixed assets includes £ 1,622 in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Other debtors 333 13,042

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 3,812 3,930
Hire purchase contracts 1,401 -
Taxation and social security 14,752 13,897
Other creditors 3,427 11,830
23,392 29,657

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans 2,306 6,000

9. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Hire purchase contracts 1,401 -

GLENCOE HOTELS LTD (REGISTERED NUMBER: 09256019)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

10. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
100 Ordinary £1 100 100

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023:

31.10.24 31.10.23
£    £   
K Szegedi
Balance outstanding at start of year 12,585 (820 )
Amounts advanced - 103,428
Amounts repaid (12,585 ) (90,023 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 12,585