01 Hostels Limited - Abbreviated accounts 16.3

01 Hostels Limited - Abbreviated accounts 16.3


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REGISTERED NUMBER: 08266648(England and Wales)















01 Hostels Limited

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2016






01 Hostels Limited (Registered number: 08266648)






Contents of the Abbreviated Accounts
for the Year Ended 30 June 2016




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 2016







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 2016

30.6.16 30.6.15
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 124,222 141,486
Tangible assets 3 1,017,208 537,668
1,141,430 679,154

CURRENT ASSETS
Debtors 126,027 26,632
Cash in hand 304 304
126,331 26,936
CREDITORS
Amounts falling due within one year 1,123,933 741,654
NET CURRENT LIABILITIES (997,602 ) (714,718 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

143,828

(35,564

)

CREDITORS
Amounts falling due after more than one
year

(120,082

)

-

PROVISIONS FOR LIABILITIES (25,405 ) (2,980 )
NET LIABILITIES (1,659 ) (38,544 )

CAPITAL AND RESERVES
Called up share capital 4 4 4
Profit and loss account (1,663 ) (38,548 )
SHAREHOLDERS' FUNDS (1,659 ) (38,544 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 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 2016


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 10 March 2017and 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 2016

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 January 2015).

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

Last 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 2015
and 30 June 2016 170,000
AMORTISATION
At 1 July 2015 28,514
Amortisation for year 17,264
At 30 June 2016 45,778
NET BOOK VALUE

At 30 June 2016 124,222
At 30 June 2015 141,486

01 Hostels Limited (Registered number: 08266648)

Notes to the Abbreviated Accounts - continued
for the Year Ended 30 June 2016

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 July 2015 601,032
Additions 559,764
At 30 June 2016 1,160,796
DEPRECIATION
At 1 July 2015 63,364
Charge for year 80,224
At 30 June 2016 143,588
NET BOOK VALUE
At 30 June 2016 1,017,208
At 30 June 2015 537,668

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.16 30.6.15
value: £    £   
4 Ordinary £1 4 4