Company Registration No. 03929255 (England and Wales)
The Towers Swansea Bay Limited
Unaudited accounts
for the year ended 31 March 2020
The Towers Swansea Bay Limited
Statement of financial position
as at
31 March 2020
Tangible assets
4,550,695
4,554,583
Inventories
40,104
40,104
Cash at bank and in hand
8,528
4,972
Creditors: amounts falling due within one year
(450,162)
(453,420)
Net current liabilities
(336,841)
(342,807)
Total assets less current liabilities
4,213,854
4,211,776
Creditors: amounts falling due after more than one year
(2,969,893)
(3,102,523)
Net assets
1,243,961
1,109,253
Called up share capital
100
100
Share premium
49,980
49,980
Revaluation reserve
599,606
599,606
Profit and loss account
594,275
459,567
Shareholders' funds
1,243,961
1,109,253
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2021 and were signed on its behalf by
Michael Andrew Parker
Director
Company Registration No. 03929255
The Towers Swansea Bay Limited
Notes to the Accounts
for the year ended 31 March 2020
The Towers Swansea Bay Limited is a private company, limited by shares, registered in England and Wales, registration number 03929255. The registered office is THE TOWERS HOTEL, ASHLEIGH TERRACE, JERSEY MARINE, NEATH WEST GLAMORGAN, SA10 6JL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The turnover shown in the financial statements represents amounts received during the year, exclusive of value added tax.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2019
4,537,904
519,510
70,412
738,359
5,866,185
At 31 March 2020
4,537,904
519,510
70,412
738,359
5,866,185
At 1 April 2019
-
519,507
70,406
721,689
1,311,602
Charge for the year
-
-
-
3,888
3,888
At 31 March 2020
-
519,507
70,406
725,577
1,315,490
At 31 March 2020
4,537,904
3
6
12,782
4,550,695
At 31 March 2019
4,537,904
3
6
16,670
4,554,583
The Towers Swansea Bay Limited
Notes to the Accounts
for the year ended 31 March 2020
Trade debtors
64,689
65,537
Total debtors
64,689
65,537
6
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
123,988
145,879
Trade creditors
84,207
83,628
Taxes and social security
170,664
143,472
Other creditors
21,608
30,746
Loans from directors
49,695
49,695
7
Creditors: amounts falling due after more than one year
2020
2019
Bank loans
2,969,893
3,102,523
8
Average number of employees
During the year the average number of employees was 47 (2019: 48).