REGISTERED NUMBER: |
BAY TREE BROADSTAIRS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
REGISTERED NUMBER: |
BAY TREE BROADSTAIRS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
BAY TREE BROADSTAIRS LIMITED (REGISTERED NUMBER: 03896006) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BAY TREE BROADSTAIRS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
424 Margate Road |
Westwood |
Ramsgate |
Kent |
CT12 6SJ |
BAY TREE BROADSTAIRS LIMITED (REGISTERED NUMBER: 03896006) |
BALANCE SHEET |
31 OCTOBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 8 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
BAY TREE BROADSTAIRS LIMITED (REGISTERED NUMBER: 03896006) |
BALANCE SHEET - continued |
31 OCTOBER 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
BAY TREE BROADSTAIRS LIMITED (REGISTERED NUMBER: 03896006) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
1. | STATUTORY INFORMATION |
Bay Tree Broadstairs Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Leasehold improvements | - |
Improvements to property | - |
Fixture & Fittings | - |
Computer equipment | - |
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 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 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
BAY TREE BROADSTAIRS LIMITED (REGISTERED NUMBER: 03896006) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | Leasehold | to |
property | improvements | property |
£ | £ | £ |
COST OR VALUATION |
At 1 November 2022 |
Additions |
At 31 October 2023 |
DEPRECIATION |
At 1 November 2022 |
Charge for year |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
Fixture & | Computer |
Fittings | equipment | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 November 2022 |
Additions |
At 31 October 2023 |
DEPRECIATION |
At 1 November 2022 |
Charge for year |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
Included in land and buildings is freehold land at cost £298,033 which is not depreciated. In the opinion of the directors, the hotel's market value at the balance sheet date was not less than the value shown in the accounts. |
BAY TREE BROADSTAIRS LIMITED (REGISTERED NUMBER: 03896006) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31 October 2023 is represented by: |
Improvements |
Freehold | Leasehold | to |
property | improvements | property |
£ | £ | £ |
Valuation in 2018 | 298,584 | 29,568 | 1,116,063 |
Valuation in 2019 | 901,416 | - | 50,327 |
Valuation in 2021 | 100,000 | - | - |
1,300,000 | 29,568 | 1,166,390 |
Fixture & | Computer |
Fittings | equipment | Totals |
£ | £ | £ |
Valuation in 2018 | 103,561 | 4,511 | 1,552,287 |
Valuation in 2019 | 40,977 | - | 992,720 |
Valuation in 2020 | 36,267 | 943 | 37,210 |
Valuation in 2021 | 4,647 | 1,706 | 106,353 |
Valuation in 2022 | 1,318 | 873 | 2,191 |
Valuation in 2023 | - | 249 | 249 |
186,770 | 8,282 | 2,691,010 |
Freehold land and buildings were valued on an open market basis on 1 April 2019 by VAS Group . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Sundry debtors |
Bay Tree Investments Ltd | 386 | - |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other loans |
Trade creditors |
Social security and other taxes |
VAT | 15,357 | 6,715 |
Sundry creditors |
Directors' current accounts | 1,112,828 | 1,137,119 |
Accrued expenses |
BAY TREE BROADSTAIRS LIMITED (REGISTERED NUMBER: 03896006) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other loans - 1-2 years | 38,647 | 35,906 |
Other loans - 2-5 years | 12,519 | 51,167 |
8. | RESERVES |
Revaluation |
reserve |
£ |
At 1 November 2022 |
and 31 October 2023 |
9. | DEFERRED TAXATION |
A provision for deferred taxation will arise in respect of the tax effect of timing differences of excess taxation allowances over depreciation on fixed assets. |
The deferred taxation liability as at 31 October 2023 is £Nil (2022 £Nil) because of the trading losses carried forward. |
10. | GOING CONCERN |
These accounts have been prepared on a going concern basis on the understanding that the Directors and shareholders will continue to financially support the company. |