REGISTERED NUMBER:
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RUTHIN CASTLE HOTEL LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2020 |
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REGISTERED NUMBER:
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RUTHIN CASTLE HOTEL LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2020 |
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RUTHIN CASTLE HOTEL LIMITED (REGISTERED NUMBER: 09077120) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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RUTHIN CASTLE HOTEL LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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RUTHIN CASTLE HOTEL LIMITED (REGISTERED NUMBER: 09077120) |
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ABRIDGED BALANCE SHEET |
31 DECEMBER 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
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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( |
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CREDITORS |
Amounts falling due after more than one
year |
6 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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( |
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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. |
RUTHIN CASTLE HOTEL LIMITED (REGISTERED NUMBER: 09077120) |
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ABRIDGED BALANCE SHEET - continued |
31 DECEMBER 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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RUTHIN CASTLE HOTEL LIMITED (REGISTERED NUMBER: 09077120) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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1. | STATUTORY INFORMATION |
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Ruthin Castle Hotel Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going Concern |
Notwithstanding the loss for the year, the net current liabilities and deficiency in shareholders' funds on the Balance Sheet as at 31 December 2020, the Directors believe it is appropriate for the financial statements to be prepared on a going concern basis as the company continues to receive the support of its principal creditors. |
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As at the date of approval of the Accounts the outlook regarding the ongoing COVID-19 pandemic is uncertain. The company's ability to trade is dependent on the levels of government restrictions imposed. The current market is uncertain given recent surges and evolutions of the virus, resulting in local and national restrictions across the UK, with potentially more to follow. Future adverse coronavirus developments may cast significant doubt on the company's ability to meet its financial commitments as and when they fall due. |
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The director considers it appropriate to prepare the accounts on a going concern basis, however the above events and conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Goodwill |
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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. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Government grants |
Grant income relating to revenue is recognised on an accruals basis. Income is recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support with no future related costs is recognised in income in the period in which it becomes receivable. |
RUTHIN CASTLE HOTEL LIMITED (REGISTERED NUMBER: 09077120) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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RUTHIN CASTLE HOTEL LIMITED (REGISTERED NUMBER: 09077120) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2020 |
and 31 December 2020 |
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AMORTISATION |
At 1 January 2020 |
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Amortisation for year |
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At 31 December 2020 |
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NET BOOK VALUE |
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At 31 December 2020 |
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At 31 December 2019 |
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5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2020 |
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Additions |
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At 31 December 2020 |
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DEPRECIATION |
At 1 January 2020 |
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Charge for year |
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At 31 December 2020 |
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NET BOOK VALUE |
At 31 December 2020 |
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At 31 December 2019 |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS |
2020 | 2019 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal | 10,000 | - |
RUTHIN CASTLE HOTEL LIMITED (REGISTERED NUMBER: 09077120) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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7. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2020 | 2019 |
£ | £ |
Within one year |
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Between one and five years |
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8. | CONTINGENT LIABILITIES |
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There is a cross guarantee and debenture in place between the bank, the company and its ultimate parent undertaking, Ruby Hotel Collection Holdings Limited. |
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9. | RELATED PARTY DISCLOSURES |
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On 19th September 2019 the companies immediate parent company, Ruthin Castle Estates Ltd, was acquired by Ruby Hotel Collection Holdings Ltd, a company registered in England and Wales. |
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10. | GOVERNMENT ASSISTANCE |
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During the year the company has received grant income under HM Government Coronavirus Job Retention Scheme totalling £258,236, and from Denbighshire County Council under the Economic Resilience Fund and Restrictions Discretionary Grant totalling £34,500. |
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The company has taken out a bank loan under the Coronavirus Bounce Back Loan Scheme. The loan interest in the first 12 months is covered by HM Government by the Business Interruption payment. |
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Amounts recognised are included in Other Income. |
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The company has received assistance from HM Government by way of relief from business rates for the 2020/21 financial year. |