Registered Number 00434439
HEAVES HOTEL LIMITED
Abbreviated Accounts
29 February 2016
Notes | 29/02/2016 | 30/04/2015 | |
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Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 3 |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 3 |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 4 |
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Share premium account |
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Revaluation reserve |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Bar and food sales are recognised on the day of receipt. Accommodation sales are recognised on the date of check out and un-billed accounts are accrued for at the year end.
Tangible assets depreciation policy
Freehold property - 2% straight line
Crockery crisis - 25% reducing balance
Fixtures & fittings - 10% reducing balance
Office equipment - 33% straight line
Valuation information and policy
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Other accounting policies
Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets in the financial statements.
A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
Pensions:
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the period.
Revaluation of tangible fixed assets:
As permitted by the transitional provisions of the Financial Reporting Standard for Smaller Entities (effective January 2015) the company has elected not to adopt a policy of revaluation of tangible fixed assets. The company will retain the book value of land and buildings, previously revalued at 30 April 2010 and will not update that valuation.
Going concern:
The company made a loss of £7,397 in the year and at the balance sheet date the company's current liabilities exceeded its current assets by £159,498. The directors have provided personal assurances that they will support the company for the foreseeable future and will ensure that there are sufficient funds made available to enable the company to meet its debts as they fall due. Therefore in the opinion of the directors the financial statements should be prepared on a going concern basis.
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Cost | |
At 1 May 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 29 February 2016 |
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Depreciation | |
At 1 May 2015 |
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Charge for the year |
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On disposals |
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At 29 February 2016 |
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Net book values | |
At 29 February 2016 | 1,013,015 |
At 30 April 2015 | 1,033,859 |
29/02/2016
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30/04/2015
£ |
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Secured Debts |
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