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Registration number: 02044942

Plaza Continental Hotels Limited

trading as New Dawn Hotel

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Plaza Continental Hotels Limited

trading as New Dawn Hotel

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Plaza Continental Hotels Limited

trading as New Dawn Hotel

Company Information

Directors

Mrs L El-Meleigy

Mr M Elmeleigy

Mrs May Ahmed Nagib El Meleigy Pesenti Bolo

Company secretary

Mrs L El-Meleigy

Registered office

95 Inverness Terrace
London
W2 3JU

Accountants

Aventus Partners Limited
Hygeia Building
Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE

 

Plaza Continental Hotels Limited

trading as New Dawn Hotel

(Registration number: 02044942)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

1,363,800

1,364,568

Current assets

 

Debtors

5

3,613

1,029

Cash at bank and in hand

 

40,186

4,689

 

43,799

5,718

Creditors: Amounts falling due within one year

6

(490,115)

(497,714)

Net current liabilities

 

(446,316)

(491,996)

Total assets less current liabilities

 

917,484

872,572

Creditors: Amounts falling due after more than one year

6

(501,291)

(503,161)

Net assets

 

416,193

369,411

Capital and reserves

 

Called up share capital

7

30,000

30,000

Profit and loss account

386,193

339,411

Shareholders' funds

 

416,193

369,411

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 and delivered 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 Board on 19 July 2022 and signed on its behalf by:
 

.........................................

Mrs L El-Meleigy
Company secretary and director

 

Plaza Continental Hotels Limited

trading as New Dawn Hotel

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
95 Inverness Terrace
London
W2 3JU
United Kingdom

These financial statements were authorised for issue by the Board on 19 July 2022.

2

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 and delivered 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.

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 tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Plaza Continental Hotels Limited

trading as New Dawn Hotel

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet 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

Furniture, fittings and equipment

25% - Reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Plaza Continental Hotels Limited

trading as New Dawn Hotel

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021 (continued)

2

Accounting policies (continued)

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2020: 9).

 

Plaza Continental Hotels Limited

trading as New Dawn Hotel

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021 (continued)

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2021

1,361,498

78,414

1,439,912

At 31 December 2021

1,361,498

78,414

1,439,912

Depreciation

At 1 January 2021

-

75,344

75,344

Charge for the year

-

768

768

At 31 December 2021

-

76,112

76,112

Carrying amount

At 31 December 2021

1,361,498

2,302

1,363,800

At 31 December 2020

1,361,498

3,070

1,364,568

Included within the net book value of land and buildings above is £1,361,498 (2020 - £1,361,498) in respect of freehold land and buildings.
 

5

Debtors

2021
£

2020
£

Prepayments

3,613

1,029

Total current trade and other debtors

3,613

1,029

 

Plaza Continental Hotels Limited

trading as New Dawn Hotel

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Trade creditors

 

13,144

8,201

Taxation and social security

 

4,075

24,444

Other creditors

 

192,263

896

Corporation tax payable

 

2,046

-

Directors current account

 

278,587

464,173

 

490,115

497,714

Due after one year

 

Loans and borrowings

8

501,291

503,161

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

8

501,291

503,161

7

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary shares of £1 each

30,000

30,000

30,000

30,000

         
 

Plaza Continental Hotels Limited

trading as New Dawn Hotel

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021 (continued)

8

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

48,130

50,000

Other borrowings

453,161

453,161

501,291

503,161