Betterton Hotels Ltd - Period Ending 2017-12-31
Betterton Hotels Ltd - Period Ending 2017-12-31
Registration number:
Betterton Hotels Ltd
for the Year Ended 31 December 2017
Chartered Accountants
2 Woodside Mews
Clayton Wood Close
Leeds
West Yorkshire
LS16 6QE
Betterton Hotels Ltd
Contents
|
Company Information |
|
|
Director's Report |
|
|
Accountants' Report |
|
|
Statement of Income and Retained Earnings |
|
|
Balance Sheet |
|
|
Notes to the Financial Statements |
Betterton Hotels Ltd
Company Information
|
Director |
Mr Anthony Cross |
|
Registered office |
|
|
Accountants |
|
|
Page 1 |
Betterton Hotels Ltd
Director's Report for the Year Ended 31 December 2017
The director presents his report and the financial statements for the year ended 31 December 2017.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is the management of hotels.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the
.........................................
Director
|
Page 2 |
Chartered Accountants' Report to the Director on the
Preparation of the Unaudited Statutory Accounts of
Betterton Hotels Ltd
for the Year Ended 31 December 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Betterton Hotels Ltd for the year ended 31 December 2017 as set out on pages 4 to 8 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 at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Betterton Hotels Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Betterton Hotels Ltd and state those matters that we have agreed to state to the Board of Directors of Betterton Hotels Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Betterton Hotels Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Betterton Hotels Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Betterton Hotels Ltd. You consider that Betterton 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 accounts of Betterton 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 accounts.
......................................
Chartered Accountants
Clayton Wood Close
Leeds
West Yorkshire
LS16 6QE
|
Page 3 |
Betterton Hotels Ltd
Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 December 2017
|
Note |
2017 |
2016 |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Operating profit |
|
|
|
|
Profit before tax |
|
|
|
|
Profit for the financial year |
|
|
|
|
Retained earnings brought forward |
316,868 |
223,780 |
|
|
Dividends paid |
( |
- |
|
|
Retained earnings carried forward |
167,209 |
316,868 |
|
Page 4 |
Betterton Hotels Ltd
(Registration number: 07831409)
Balance Sheet as at 31 December 2017
|
Note |
2017 |
2016 |
|||
|
Fixed assets |
|||||
|
Tangible assets |
|
|
|||
|
Current assets |
|||||
|
Stocks |
|
|
|||
|
Debtors |
|
|
|||
|
Cash at bank and in hand |
|
|
|||
|
|
|
||||
|
Creditors: Amounts falling due within one year |
( |
( |
|||
|
Net current assets |
|
|
|||
|
Net assets |
|
|
|||
|
Capital and reserves |
|||||
|
Called up share capital |
|
|
|||
|
Profit and loss account |
|
|
|||
|
Total equity |
|
|
|||
For the financial year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
|
• |
|
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
.........................................
Director
|
Page 5 |
Betterton Hotels Ltd
Notes to the Financial Statements for the Year Ended 31 December 2017
|
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
|
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
|
Page 6 |
Betterton Hotels Ltd
Notes to the Financial Statements for the Year Ended 31 December 2017
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Fixtures and fittings |
15% on cost |
|
Office equipment |
25% on cost |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
|
Profit before tax |
Arrived at after charging/(crediting)
|
2017 |
2016 |
|
|
Depreciation expense |
|
|
|
Page 7 |
Betterton Hotels Ltd
Notes to the Financial Statements for the Year Ended 31 December 2017
|
Tangible assets |
|
Furniture, fittings and equipment |
Total |
|
|
Cost or valuation |
||
|
At 1 January 2017 |
|
|
|
Additions |
|
|
|
At 31 December 2017 |
|
|
|
Depreciation |
||
|
At 1 January 2017 |
|
|
|
Charge for the year |
|
|
|
At 31 December 2017 |
|
|
|
Carrying amount |
||
|
At 31 December 2017 |
|
|
|
At 31 December 2016 |
|
|
|
Debtors |
|
Note |
2017 |
2016 |
|
|
Trade debtors |
|
|
|
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
|
|
|
Other debtors |
|
|
|
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
|
2017 |
2016 |
|
|
Due within one year |
||
|
Trade creditors |
|
|
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
|
Page 8 |