01 Hotels & Hostels Ltd - Accounts to registrar (filleted) - small 17.3

01 Hotels & Hostels Ltd - Accounts to registrar (filleted) - small 17.3


IRIS Accounts Productionv17.3.1.10608266648Board of Directors1.7.1630.6.1730.6.17falsetruefalsefalsefalsetruefalseiso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure082666482016-06-30082666482017-06-30082666482016-07-012017-06-30082666482015-06-30082666482015-07-012016-06-30082666482016-06-3008266648ns15:EnglandWales2016-07-012017-06-3008266648ns14:PoundSterling2016-07-012017-06-3008266648ns10:Director12016-07-012017-06-3008266648ns10:PrivateLimitedCompanyLtd2016-07-012017-06-3008266648ns10:SmallEntities2016-07-012017-06-3008266648ns10:AuditExempt-NoAccountantsReport2016-07-012017-06-3008266648ns10:SmallCompaniesRegimeForDirectorsReport2016-07-012017-06-3008266648ns10:SmallCompaniesRegimeForAccounts2016-07-012017-06-3008266648ns10:AbridgedAccounts2016-07-012017-06-300826664812016-07-012017-06-300826664812016-07-012017-06-3008266648ns10:Director22016-07-012017-06-3008266648ns10:RegisteredOffice2016-07-012017-06-3008266648ns5:CurrentFinancialInstruments2017-06-3008266648ns5:CurrentFinancialInstruments2016-06-3008266648ns5:Non-currentFinancialInstruments2017-06-3008266648ns5:Non-currentFinancialInstruments2016-06-3008266648ns5:ShareCapital2017-06-3008266648ns5:ShareCapital2016-06-3008266648ns5:RetainedEarningsAccumulatedLosses2017-06-3008266648ns5:RetainedEarningsAccumulatedLosses2016-06-3008266648ns5:NetGoodwill2016-07-012017-06-3008266648ns5:IntangibleAssetsOtherThanGoodwill2016-07-012017-06-3008266648ns5:LandBuildings2016-07-012017-06-3008266648ns5:PlantMachinery2016-07-012017-06-30


REGISTERED NUMBER: 08266648(England and Wales)















01 Hotels & Hostels Ltd

Previously known as
01 Hostels Limited

Unaudited Financial Statements

for the Year Ended 30 June 2017






01 Hotels & Hostels Ltd (Registered number: 08266648)
previously known as 01 Hostels Limited






Contents of the Financial Statements
for the Year Ended 30 June 2017




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


01 Hotels & Hostels Ltd
previously known as 01 Hostels Limited

Company Information
for the Year Ended 30 June 2017







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 Hotels & Hostels Ltd (Registered number: 08266648)
previously known as 01 Hostels Limited

Abridged Balance Sheet
30 June 2017

30.6.17 30.6.16
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 107,222 124,222
Tangible assets 5 886,080 1,017,208
993,302 1,141,430

CURRENT ASSETS
Stocks 200 -
Debtors 29,088 126,027
Cash at bank and in hand 15,244 304
44,532 126,331
CREDITORS
Amounts falling due within one year 882,394 1,123,933
NET CURRENT LIABILITIES (837,862 ) (997,602 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

155,440

143,828

CREDITORS
Amounts falling due after more than one
year

(120,592

)

(120,082

)

PROVISIONS FOR LIABILITIES (24,976 ) (25,405 )
NET ASSETS/(LIABILITIES) 9,872 (1,659 )

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 9,868 (1,663 )
SHAREHOLDERS' FUNDS 9,872 (1,659 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

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

01 Hotels & Hostels Ltd (Registered number: 08266648)
previously known as 01 Hostels Limited

Abridged Balance Sheet - continued
30 June 2017


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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 13 March 2018and were signed on its behalf by:





M G Lower- Director


01 Hotels & Hostels Ltd (Registered number: 08266648)
previously known as 01 Hostels Limited

Notes to the Financial Statements
for the Year Ended 30 June 2017

1. STATUTORY INFORMATION

01 Hotels & Hostels 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 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

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.

01 Hotels & Hostels Ltd (Registered number: 08266648)
previously known as 01 Hostels Limited

Notes to the Financial Statements - continued
for the Year Ended 30 June 2017

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9(2016 - 4) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2016
and 30 June 2017 170,000
AMORTISATION
At 1 July 2016 45,778
Amortisation for year 17,000
At 30 June 2017 62,778
NET BOOK VALUE

At 30 June 2017 107,222
At 30 June 2016 124,222

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2016 1,160,796
Additions (3,932 )
At 30 June 2017 1,156,864
DEPRECIATION
At 1 July 2016 143,588
Charge for year 127,196
At 30 June 2017 270,784
NET BOOK VALUE
At 30 June 2017 886,080
At 30 June 2016 1,017,208

6. RELATED PARTY DISCLOSURES

The directors of the company were owed the following amounts at the year end: M Lower £Nil (2016:£7,468)
and Miss R Lucraft £703,495 (2016;£703,212). M Lower owed the company £4,066 at the year end.