Hotel 55 Limited
|
Registered number: |
05292065
|
Balance Sheet |
as at 30 April 2019
|
|
Notes |
|
|
2019 |
|
|
2018 |
£ |
£ |
Fixed assets |
Intangible assets |
2 |
|
|
25,000 |
|
|
25,000 |
Tangible assets |
3 |
|
|
159,317 |
|
|
149,687 |
|
|
|
|
184,317 |
|
|
174,687 |
|
Current assets |
Stocks |
|
|
13,750 |
|
|
14,450 |
Debtors |
4 |
|
145,976 |
|
|
17,125 |
Cash at bank and in hand |
|
|
13,145 |
|
|
10,372 |
|
|
|
172,871 |
|
|
41,947 |
|
Creditors: amounts falling due within one year |
5 |
|
(55,199) |
|
|
(73,263) |
|
Net current assets/(liabilities) |
|
|
|
117,672 |
|
|
(31,316) |
|
Total assets less current liabilities |
|
|
|
301,989 |
|
|
143,371 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(142,766) |
|
|
- |
|
|
|
Net assets |
|
|
|
159,223 |
|
|
143,371 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
500 |
|
|
500 |
Profit and loss account |
|
|
|
158,723 |
|
|
142,871 |
|
Shareholders' funds |
|
|
|
159,223 |
|
|
143,371 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
|
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
|
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
|
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
|
|
|
|
|
Mr S P Tohani |
Director |
Approved by the board on 28 January 2020
|
|
Hotel 55 Limited
|
Notes to the Accounts |
for the year ended 30 April 2019
|
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
|
|
|
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
|
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
|
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
|
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
|
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate.
|
|
|
2 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 May 2018 |
25,000 |
|
At 30 April 2019 |
25,000 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 30 April 2019 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 April 2019 |
25,000 |
|
At 30 April 2018 |
25,000 |
|
|
|
|
|
|
|
|
|
|
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. |
|
|
3 |
Tangible fixed assets |
|
|
Fixtures & fittings |
|
Equipment |
|
Website |
|
Total |
£ |
£ |
£ |
£ |
|
Cost |
|
At 1 May 2018 |
318,641 |
|
52,594 |
|
6,619 |
|
377,854 |
|
Additions |
40,072 |
|
7,121 |
|
- |
|
47,193 |
|
At 30 April 2019 |
358,713 |
|
59,715 |
|
6,619 |
|
425,047 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 May 2018 |
185,139 |
|
36,470 |
|
6,558 |
|
228,167 |
|
Charge for the year |
32,324 |
|
5,178 |
|
61 |
|
37,563 |
|
At 30 April 2019 |
217,463 |
|
41,648 |
|
6,619 |
|
265,730 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 April 2019 |
141,250 |
|
18,067 |
|
- |
|
159,317 |
|
At 30 April 2018 |
133,502 |
|
16,124 |
|
61 |
|
149,687 |
|
|
4 |
Debtors |
2019 |
|
2018 |
£ |
£ |
|
|
Trade debtors |
15,094 |
|
16,970 |
|
Directors loan account |
|
123,400 |
|
- |
|
Other debtors |
7,482 |
|
155 |
|
|
|
|
|
|
145,976 |
|
17,125 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2019 |
|
2018 |
£ |
£ |
|
|
Bank loans and overdrafts |
- |
|
3,293 |
|
Trade creditors |
33,494 |
|
32,375 |
|
Corporation tax |
3,613 |
|
13,215 |
|
Other taxes and social security costs |
14,487 |
|
24,039 |
|
Other creditors |
3,605 |
|
341 |
|
|
|
|
|
|
55,199 |
|
73,263 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2019 |
|
2018 |
£ |
£ |
|
|
Bank loans |
142,766 |
|
- |
|
|
|
|
|
|
|
|
|
|
7 |
Distribution costs |
|
|
This relates to the costs incurred against other operating income which consists of the costs incurred in providing fixtures and fittings and renovation costs for a third party client. It does not form part of Hotel 55 Ltd regular hotel room sales, bar revenue or expenditure.
|
|
|
8 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
£ |
£ |
£ |
£ |
|
Mr Satya Pal Tohani
|
|
Loans to directors
|
- |
|
123,400 |
|
(123,400) |
|
- |
|
|
|
- |
|
123,400 |
|
(123,400) |
|
- |
|
|
|
|
|
|
|
|
|
|
9 |
Related party transactions |
|
|
There were no related party transactions apart from dividends issued and a directors loan to Mr SP Tohani and also an amount due to Marble Power Ltd of £22,467 by Mr Sanjay Tohani who is a director of that company.
|
|
|
10 |
Controlling party |
|
|
The company is 100% controlled by Mr Satya Pal & Mrs Veena Tohani by virture their joint shareholding.
|
|
|
11 |
Other information |
|
|
Hotel 55 Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
55 Hanger Lane |
|
London |
|
W5 3LH |