Palace Court Hotel Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08405071 (England and Wales)

Financial Statements

for the Year Ended 31 March 2019

for

Palace Court Hotel Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Z Alkatib

REGISTERED OFFICE:

336 Pinner Road

Harrow

Middlesex

HA1 4LB

REGISTERED NUMBER:

08405071 (England and Wales)

ACCOUNTANTS:

Walji & Associates

336 Pinner Road

Harrow

HA1 4LB

FIXED ASSETS

Tangible assets

4

7,103

9,470

CURRENT ASSETS

Debtors

5

92,629

193,528

Cash at bank and in hand

250,234

203,643

342,863

397,171

CREDITORS

Amounts falling due within one year

6

174,178

224,205

NET CURRENT ASSETS

168,685

172,966

TOTAL ASSETS LESS CURRENT LIABILITIES

175,788

182,436

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

175,787

182,435

SHAREHOLDERS' FUNDS

175,788

182,436

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 27 November 2019 and were signed by:

Z Alkatib - Director

1.	STATUTORY INFORMATION

Palace Court Hotel Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2018 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

and 31 March 2019

24,524

DEPRECIATION

At 1 April 2018

15,054

Charge for year

2,367

At 31 March 2019

17,421

NET BOOK VALUE

At 31 March 2019

7,103

At 31 March 2018

9,470

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

-

606

Other debtors

92,629

192,922

92,629

193,528

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

20,180

114,057

Taxation and social security

12,854

9,991

Other creditors

141,144

100,157

174,178

224,205