Company Registration No. 03768368 (England and Wales)
WESTLAND HOTELS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2014
WESTLAND HOTELS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
WESTLAND HOTELS LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
7,863,928
4,396,364
Current assets
Stocks
-
1,175
Debtors
245,470
89,192
Cash at bank and in hand
21,484
59,819
266,954
150,186
Creditors: amounts falling due within one year
(327,106)
(201,659)
Net current liabilities
(60,152)
(51,473)
Total assets less current liabilities
7,803,776
4,344,891
Capital and reserves
Called up share capital
3
750,000
750,000
Share premium account
3,310,398
3,310,398
Revaluation reserve
3,475,742
-
Profit and loss account
267,636
284,493
Shareholders' funds
7,803,776
4,344,891
For the financial year ended 31 May 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 18 June 2015
J A McDaniel
Director
Company Registration No. 03768368
WESTLAND HOTELS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2014
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
Nil
Land and buildings Leasehold
Nil
Plant and machinery
20% per annum straight line method
Fixtures, fittings & equipment
15% per annum straight line method
Motor vehicles
25% per annum reducing balance method
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 June 2013
4,686,314
Revaluation
3,475,742
At 31 May 2014
8,162,056
Depreciation
At 1 June 2013
289,950
Charge for the year
8,178
At 31 May 2014
298,128
Net book value
At 31 May 2014
7,863,928
At 31 May 2013
4,396,364
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
750,000 ordinary of £1 each
750,000
750,000