Year Ended
Registration number:
Cross Hotels Limited
Contents
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Cross Hotels Limited
Balance Sheet
31 October 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net liabilities |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' deficit |
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Cross Hotels Limited
Balance Sheet
31 October 2024
For the financial 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.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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......................................... |
Company Registration Number: 05936966
Cross Hotels Limited
Notes to the Unaudited Financial Statements
Year Ended 31 October 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
The Cringletie House Hotel
Edinburgh Road
Peebles
EH45 8PL
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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 Section 1A, and the Companies Act 2006. There are no material departures from FRS102.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that, as disclosed in the accounting policies, certain items are shown at fair value.
Going concern
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities, and is shown net of value added tax. The company recognises revenue when it can be reliably measured and it is probable that future economic benefits will flow to the entity.
Tax
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Cross Hotels Limited
Notes to the Unaudited Financial Statements
Year Ended 31 October 2024
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Freehold property |
2% straight line |
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Fixtures and fittings |
15% reducing balance |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Goodwill |
10% straight line |
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Website development costs |
25% straight line |
Stocks
Stocks are stated at the lower of cost and estimated selling price. Cost is determined using the first-in, first-out (FIFO) method.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as an employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Cross Hotels Limited
Notes to the Unaudited Financial Statements
Year Ended 31 October 2024
Classification
• Short term trade and other debtors and creditors;
• Cash and bank balances;
• Hire purchase contracts; and
• Loans
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Cross Hotels Limited
Notes to the Unaudited Financial Statements
Year Ended 31 October 2024
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Intangible assets |
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Goodwill |
Website development costs |
Total |
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Cost or valuation |
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At 1 November 2023 |
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Disposals |
- |
( |
( |
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At 31 October 2024 |
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- |
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Amortisation |
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At 1 November 2023 |
- |
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Amortisation eliminated on disposals |
- |
( |
( |
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At 31 October 2024 |
- |
- |
- |
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Carrying amount |
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At 31 October 2024 |
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- |
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At 31 October 2023 |
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- |
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Tangible assets |
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Land and buildings |
Fixtures and fittings |
Total |
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Cost or valuation |
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At 1 November 2023 |
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Additions |
- |
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At 31 October 2024 |
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Depreciation |
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At 1 November 2023 |
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Charge for the year |
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At 31 October 2024 |
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Carrying amount |
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At 31 October 2024 |
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At 31 October 2023 |
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Cross Hotels Limited
Notes to the Unaudited Financial Statements
Year Ended 31 October 2024
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Debtors |
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2024 |
2023 |
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Trade debtors |
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- |
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Prepayments |
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Other debtors |
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- |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Borrowings are secured by a charge over the company's assets.
Cross Hotels Limited
Notes to the Unaudited Financial Statements
Year Ended 31 October 2024
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Loans and borrowings |
Non-current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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Hire purchase contracts |
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- |
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Other borrowings |
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Current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
- |
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Hire purchase contracts |
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- |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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100 |
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100 |