Chardon Hotels Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC599708 (Scotland)

Financial Statements

for the Period

12 June 2018 to 30 April 2019

for

Chardon Hotels Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr M V Taylor

Ms N J Taylor

Mr A I Armstrong

SECRETARY:

Mr A I Armstrong

REGISTERED OFFICE:

Victoria Chambers

3rd Floor

142 West Nile Street

Glasgow

G1 2RQ

REGISTERED NUMBER:

SC599708 (Scotland)

AUDITORS:

Stevenson & Kyles

Statutory Auditor

Chartered Accountants

25 Sandyford Place

Glasgow

G3 7NG

FIXED ASSETS

Tangible assets

4

71,859

CURRENT ASSETS

Debtors

5

56,565

Cash at bank

25,193

81,758

CREDITORS

Amounts falling due within one year

6

340,260

NET CURRENT LIABILITIES

(258,502

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(186,643

)

PROVISIONS FOR LIABILITIES

8,406

NET LIABILITIES

(195,049

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(195,149

)

SHAREHOLDERS' FUNDS

(195,049

)

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 Board of Directors on 4 October 2019 and were signed on its behalf by:

Mr M V Taylor - Director

1.	STATUTORY INFORMATION

Chardon Hotels Limited is a private company, limited by shares , registered in Scotland. 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.

The financial statements have been prepared on the going concern basis notwithstanding that its liabilities

exceeded its assets at the balance sheet date. The company is dependent on the continued financial support of its

parent company.

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.

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.

Tenant's improvements

-

20% on cost

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Financial instruments

Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable

within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the

profit and loss account in administrative expenses.

Taxation

Taxation for the period 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 period 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 makes contributions to the personal pension schemes of its employees. Contributions payable are

charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Tenant's

and

Motor

improvements

fittings

vehicles

Totals

£

£

£

£

COST

Additions

17,411

57,338

8,500

83,249

At 30 April 2019

17,411

57,338

8,500

83,249

DEPRECIATION

Charge for period

2,612

8,601

177

11,390

At 30 April 2019

2,612

8,601

177

11,390

NET BOOK VALUE

At 30 April 2019

14,799

48,737

8,323

71,859

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

48,324

Other debtors

8,241

56,565

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

1,833

Amounts owed to group undertakings

202,509

Taxation and social security

31,246

Other creditors

104,672

340,260

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

James Weir (Senior Statutory Auditor)

for and on behalf of Stevenson & Kyles

8.	OTHER FINANCIAL COMMITMENTS

The company had commitments, guarantees and contingencies of £29,169.

9.	RELATED PARTY DISCLOSURES

10.	SECURED DEBTS

Cross guarantees exist between the company and other group companies in respect of bank accounts and loans

with the Royal Bank of Scotland plc. These are supported by standard securities over the properties owned by

the group and a floating charge over group assets.