REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JULY 2020 |
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ELB HOSPITALITY LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JULY 2020 |
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FOR |
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ELB HOSPITALITY LTD |
ELB HOSPITALITY LTD (REGISTERED NUMBER: SC603999) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 July 2020 |
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Page |
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Abridged Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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ELB HOSPITALITY LTD (REGISTERED NUMBER: SC603999) |
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ABRIDGED BALANCE SHEET |
31 July 2020 |
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31.7.20 | 31.7.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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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 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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( |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
ELB HOSPITALITY LTD (REGISTERED NUMBER: SC603999) |
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ABRIDGED BALANCE SHEET - continued |
31 July 2020 |
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The financial statements were approved by the Board of Directors and authorised for issue on
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ELB HOSPITALITY LTD (REGISTERED NUMBER: SC603999) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 July 2020 |
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1. | STATUTORY INFORMATION |
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Elb Hospitality Ltd is a
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Registered number: | SC603999 |
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Registered office: | 22 Backbrae Street Kilsyth |
Glasgow |
United Kingdom |
Lanarkshire |
G65 0NH |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover and revenue recognition |
Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when goods and services are provided to the customer. |
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Tangible fixed assets |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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ELB HOSPITALITY LTD (REGISTERED NUMBER: SC603999) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 July 2020 |
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 August 2019 |
and 31 July 2020 |
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DEPRECIATION |
At 1 August 2019 |
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Charge for year |
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At 31 July 2020 |
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NET BOOK VALUE |
At 31 July 2020 |
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At 31 July 2019 |
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5. | COVID-19 |
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As a result of the Covid pandemic the hotel business has been closed due to mandatory lockdowns and operating restrictions since March 2020. This has lead to a significant drop in income which has been partially offset by a shift in operating model towards self-catering holiday accommodation. We have successfully applied for a bounce back loan and due to our status as licensed hotel with restaurant, we have been eligible for one off hospitality grants, the strategic business framework and have one employee on furlough. Going forward we anticipate a reduction in our hotel offering and plan to focus on extending our self catering accommodation. |