01 Hostels Limited - Limited company - abbreviated - 11.9

01 Hostels Limited - Limited company - abbreviated - 11.9


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REGISTERED NUMBER: 08266648(England and Wales)















01 Hostels Limited

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2015






01 Hostels Limited (Registered number: 08266648)






Contents of the Abbreviated Accounts
for the Year Ended 30 June 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

01 Hostels Limited

Company Information
for the Year Ended 30 June 2015







DIRECTORS: M G Lower
Miss R Lucraft





REGISTERED OFFICE: The Old Factory
30-31 Devonshire Place
Brighton
East Sussex
BN2 1QB





REGISTERED NUMBER: 08266648(England and Wales)





ACCOUNTANTS: M Goddard & Co
Chartered Accountants
69 Tupwood Lane
Caterham
Surrey
CR3 6DD

01 Hostels Limited (Registered number: 08266648)

Abbreviated Balance Sheet
30 June 2015

30.6.15 30.6.14
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 141,486 108,333
Tangible assets 3 537,668 73,260
679,154 181,593

CURRENT ASSETS
Debtors 26,632 16,906
Cash at bank and in hand 304 12,238
26,936 29,144
CREDITORS
Amounts falling due within one year 741,654 222,611
NET CURRENT LIABILITIES (714,718 ) (193,467 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(35,564
)
(11,874
)

PROVISIONS FOR LIABILITIES 2,980 1,168
NET LIABILITIES (38,544 ) (13,042 )

CAPITAL AND RESERVES
Called up share capital 4 4 4
Profit and loss account (38,548 ) (13,046 )
SHAREHOLDERS' FUNDS (38,544 ) (13,042 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

01 Hostels Limited (Registered number: 08266648)

Abbreviated Balance Sheet - continued
30 June 2015


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 14 January 2016and were signed on its behalf by:





M G Lower- Director


01 Hostels Limited (Registered number: 08266648)

Notes to the Abbreviated Accounts
for the Year Ended 30 June 2015

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover
Turnover represents net invoiced accommodation charges and related charges, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2013 and 2014, is being
amortised evenly over the estimated useful life of ten years.

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

Land and buildings - 10% on cost
Plant and machinery etc - 33% on cost and 20% on cost

During the year the company purchased a lease which expires in 2020. This lease was purchased to enable the
company to extend the lease for a 15 year term in 2020. As this was the case when the company made the
purchase it is writing off the lease over a 20 year period rather than a 5 year period.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 July 2014 120,000
Additions 50,000
At 30 June 2015 170,000
AMORTISATION
At 1 July 2014 11,667
Amortisation for year 16,847
At 30 June 2015 28,514
NET BOOK VALUE

At 30 June 2015 141,486
At 30 June 2014 108,333

01 Hostels Limited (Registered number: 08266648)

Notes to the Abbreviated Accounts - continued
for the Year Ended 30 June 2015

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 July 2014 79,748
Additions 521,284
At 30 June 2015 601,032
DEPRECIATION
At 1 July 2014 6,488
Charge for year 56,876
At 30 June 2015 63,364
NET BOOK VALUE
At 30 June 2015 537,668
At 30 June 2014 73,260

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.15 30.6.14
value: £    £   
4 Ordinary £1 4 4