ABINGDON LODGE HOTEL LIMITED - Filleted accounts

Registered number

05387257

ABINGDON LODGE HOTEL LIMITED

Filleted Accounts

31 March 2017

ABINGDON LODGE HOTEL LIMITED
Registered number:		05387257
Balance Sheet
as at 31 March 2017

Notes			2017			2016
£				£
Fixed assets
Intangible assets	4		57,100			-
Tangible assets	5		103,128			119,539
			160,228			119,539

Current assets
Stocks		6,721			11,417
Debtors	6	337,436			489,786
Cash at bank and in hand		127,935			163,801
		472,092			665,004

Creditors: amounts falling due within one year	7	(379,466)			(596,376)

Net current assets			92,626			68,628

Total assets less current liabilities			252,854			188,167


Provisions for liabilities			(14,262)			(22,075)


Net assets			238,592			166,092

Capital and reserves
Called up share capital			100			100
Profit and loss account			238,492			165,992

Shareholder's funds			238,592			166,092

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.




D H DUNSDON
Director
Approved by the board on 13 October 2017

ABINGDON LODGE HOTEL LIMITED
Notes to the Accounts
for the year ended 31 March 2017


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 when the service has been provided which is taken as when rooms are occupied and food and beverage and other services supplied. Deposits received are not included in revenue until the relevant service is provided.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulated amortisation and any accumulated impairment losses. The intangible fixed asset is a franchise fee and amortisiation will be provided to write off the cost in equal annual instalments over the asset's estimated economic life of 10 years after the commencement of the franchise contract.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Computer and IT equipment		over 3 years
	Fixtures and fittings		over 5-10 years

	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.

	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.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Audit information

	The audit report is unqualified.

	Senior statutory auditor:	M R George
	Firm:	Michael George & Co
	Date of audit report:	23 October 2017


3	Employees				2017		2016
Number						Number

	Average number of persons employed by the company				50		50


4	Intangible fixed assets						£
	Franchise fee

	Cost
	Additions						57,100
	At 31 March 2017						57,100

	Amortisation
	At 31 March 2017						-

	Net book value
	At 31 March 2017						57,100


5	Tangible fixed assets
			Computer and IT equipment		Fixtures and fittings		Total
£				£		£
	Cost
	At 1 April 2016		122,535		233,031		355,566
	Additions		22,402		2,658		25,060
	Disposals		(62,880)		-		(62,880)
	At 31 March 2017		82,057		235,689		317,746

	Depreciation
	At 1 April 2016		105,586		130,441		236,027
	Charge for the year		16,318		23,569		39,887
	On disposals		(61,296)		-		(61,296)
	At 31 March 2017		60,608		154,010		214,618

	Net book value
	At 31 March 2017		21,449		81,679		103,128
	At 31 March 2016		16,949		102,590		119,539


6	Debtors				2017		2016
£						£

	Trade debtors				24,446		40,218
	Amounts owed by the parent company				285,670		319,955
	Other debtors				27,320		129,613
					337,436		489,786


7	Creditors: amounts falling due within one year				2017		2016
£						£

	Trade creditors				97,579		221,621
	Amount due to fellow subsidiary company				118,015		-
	Corporation tax				24,621		54,565
	Other taxes and social security costs				12,109		70,204
	Other creditors				127,142		249,986
					379,466		596,376


8	Other financial commitments				2017		2016
£						£

	Total future minimum payments under non-cancellable operating leases				190,000		190,000


9	Contingent liabilities

	At the year-end the borrowings of the parent company were secured by a Debenture over the assets of the company but this was satisfied in August 2017.


10	Related party transactions

	The company is a wholly owned subsidiary of Coldunell Limited whose Registered Office is at the address give in Note 12 below. The parent company owns the freehold of the premises from which the company trades. The company also provides finance on loan account to the parent company which is interest-free and repayable on demand.


11	Other information

	ABINGDON LODGE HOTEL LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	Coldunell House
	Dawes Court, High Street
	Esher
	Surrey
	KT10 9QD