Metro Lodge Hotels Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 08300519 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 March 2017

for

Metro Lodge Hotels Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

N J Richardson

R C D Richardson

REGISTERED OFFICE:

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

REGISTERED NUMBER:

08300519 (England and Wales)

ACCOUNTANTS:

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

The following reproduces the text of the report prepared for the directors and members in respect of

the company's annual unaudited financial statements. In accordance with the Companies Act 2006,

the company is only required to file a Balance Sheet. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Directors are not required to

be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Metro Lodge Hotels Ltd for the year ended 31 March 2017 which

comprise the Income Statement, Balance Sheet and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Metro Lodge Hotels Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Metro Lodge Hotels Ltd and state those matters that we have agreed to state to the Board of Directors of Metro Lodge Hotels Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Metro Lodge Hotels Ltd Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Metro Lodge Hotels Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Metro Lodge Hotels Ltd. You consider that Metro Lodge Hotels Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Metro Lodge Hotels Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

21 July 2017

FIXED ASSETS

Tangible assets

4

334,431

340,237

CURRENT ASSETS

Stocks

3,290

4,561

Debtors

5

83,676

60,359

Cash at bank and in hand

16,550

47,951

103,516

112,871

CREDITORS

Amounts falling due within one year

6

136,154

165,053

NET CURRENT LIABILITIES

(32,638

)

(52,182

)

TOTAL ASSETS LESS CURRENT LIABILITIES

301,793

288,055

CAPITAL AND RESERVES

Called up share capital

445,000

445,000

Retained earnings

(143,207

)

(156,945

)

SHAREHOLDERS' FUNDS

301,793

288,055

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 21 July 2017 and were signed on its behalf by:

R C D Richardson - Director

N J Richardson - Director

1.	STATUTORY INFORMATION

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

Turnover

Turnover represents the value of services provided under contracts to the extent that there is a

right to consideration and is recorded at the value of the consideration due. Where a contract has

been partially completed at the balance sheet date turnover represents the value of the service

provided to date based on a proportion of the total expected consideration at completion. Where

payments are received from customers in advance of services provided, the amounts are recorded

as deferred income and included as part of creditors due within one year.

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

-

10% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

20% on cost and 10% on cost

Stocks

Stock is valued at the lower of cost and net realisable value. Net realisable value represents

estimated selling price. Provision is made for slow moving stock where the net realisable value is

less than cost.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2016 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2016

32,236

369,758

-

34,704

436,698

Additions

14,479

12,364

14,500

2,186

43,529

At 31 March 2017

46,715

382,122

14,500

36,890

480,227

DEPRECIATION

At 1 April 2016

6,366

76,269

-

13,826

96,461

Charge for year

3,603

37,345

1,208

7,179

49,335

At 31 March 2017

9,969

113,614

1,208

21,005

145,796

NET BOOK VALUE

At 31 March 2017

36,746

268,508

13,292

15,885

334,431

At 31 March 2016

25,870

293,489

-

20,878

340,237

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

13,600

9,456

Other debtors

2,825

-

Deferred tax asset

35,838

39,259

Prepayments

31,413

11,644

83,676

60,359

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

60,755

41,076

Social security and other taxes

5,511

5,143

VAT

13,937

10,880

Other creditors

10,734

78,058

Net wages

15,967

13,315

Accrued expenses

29,250

16,581

136,154

165,053

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.17

31.3.16

£

£

Within one year

156,350

156,350

Between one and five years

625,400

625,400

In more than five years

1,876,201

2,032,551

2,657,951

2,814,301

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2017 and

31 March 2016:

31.3.17

31.3.16

£

£

N J Richardson and R C D Richardson

Balance outstanding at start of year

-

-

Amounts advanced

1,111

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,111

-

The loan is interest free and repayable on demand.

9.	GOING CONCERN

The financial statements have been prepared on a going concern basis. The directors have agreed to

support the company financially.

10.	FIRST YEAR ADOPTION

This is the first year that the company has presented its results under FRS 102. The last financial

statements under UK GAAP were for the year ended 31 March 2016. The date of transition to FRS

102 was 1 2015. April There are no changes to the company profits or equity as a result of its

transition from UK GAAP as previously reported to FRS 102.