2022-01-272023-03-312023-03-31false13875958SELECT HOTELS GROUP 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SELECT HOTELS GROUP LIMITED

Registered Number
13875958
(England and Wales)

Unaudited Financial Statements for the Period ended
31 March 2023

SELECT HOTELS GROUP LIMITED
Company Information
for the period from 27 January 2022 to 31 March 2023

Director

DOCWRA, James

Registered Address

54 Marine Parade
Great Yarmouth
NR30 2EJ

Registered Number

13875958 (England and Wales)
SELECT HOTELS GROUP LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

£

£

Fixed assets
Intangible assets67,810
Tangible assets879,166
86,976
Current assets
Stocks913,731
Debtors101,104
Cash at bank and on hand9,668
24,503
Creditors amounts falling due within one year11(233,176)
Net current assets (liabilities)(208,673)
Total assets less current liabilities(121,697)
Provisions for liabilities12(15,041)
Net assets(136,738)
Capital and reserves
Called up share capital2
Profit and loss account(136,740)
Shareholders' funds(136,738)
The financial statements were approved and authorised for issue by the Director on 18 October 2023, and are signed on its behalf by:
DOCWRA, James
Director
Registered Company No. 13875958
SELECT HOTELS GROUP LIMITED
Notes to the Financial Statements
for the period ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company in the period under review was that of a hotel and restaurant.
4.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery5
Fixtures and fittings5
Office Equipment5
Intangible assets policy
Other intangible assets that are acquired by the company are stated at cost less accumulated amortisation and impairment losses. Expenditure on internally generated goodwill and brands is recognised in the accounts as an expense as incurred.
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

2023
Average number of employees during the year24
6.Intangible assets

Goodwill

Total

££
Cost or valuation
Additions9,7629,762
At 31 March 239,7629,762
Amortisation and impairment
Charge for year1,9521,952
At 31 March 231,9521,952
Net book value
At 31 March 237,8107,810
At 26 January 22--
7.Useful life of intangible asset
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: Goodwill - 20% straight line
8.Property, plant and equipment

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
Additions47,24045,36583293,437
At 31 March 2347,24045,36583293,437
Depreciation and impairment
Charge for year8,6925,43414514,271
At 31 March 238,6925,43414514,271
Net book value
At 31 March 2338,54839,93168779,166
At 26 January 22----
9.Stocks

2023

£
Other stocks13,731
Total13,731
10.Debtors

2023

£
Prepayments and accrued income1,104
Total1,104
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
11.Creditors within one year

2023

£
Trade creditors / trade payables30,943
Bank borrowings and overdrafts38,875
Amounts owed to related parties48,160
Taxation and social security110,571
Other creditors4,126
Accrued liabilities and deferred income501
Total233,176
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
12.Provisions for liabilities

2023

£
Net deferred tax liability (asset)15,041
Total15,041