Company registration number 10483711 (England and Wales)
HOTEL DELMERE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
HOTEL DELMERE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HOTEL DELMERE LIMITED (REGISTERED NUMBER: 10483711)
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
13,962,269
14,066,100
Current assets
Debtors
4
24,499
26,230
Cash at bank and in hand
1,203,733
1,039,798
1,228,232
1,066,028
Creditors: amounts falling due within one year
5
(418,861)
(653,708)
Net current assets
809,371
412,320
Net assets
14,771,640
14,478,420
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
14,770,640
14,477,420
Total equity
14,771,640
14,478,420
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 22 February 2024 and are signed on its behalf by:
Mr John Todd
Mrs Pieternelly Todd
Director
Director
HOTEL DELMERE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 2 -
1
Accounting policies
Company information
Hotel Delmere Limited is a private company limited by shares incorporated in England and Wales. The registered office is 130 Sussex Gardens, London, W2 1UB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
no depreciation
Fixtures and fittings
10% straight line
Computers
25% straight line
Motor vehicles
20% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax expense represents the sum of the tax currently payable.
HOTEL DELMERE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
20
2
3
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 November 2022
13,512,430
1,000,000
57,504
14,569,934
Additions
2,011
6,082
8,093
At 31 October 2023
13,512,430
1,002,011
6,082
57,504
14,578,027
Depreciation and impairment
At 1 November 2022
500,000
3,834
503,834
Depreciation charged in the year
100,050
1,140
10,734
111,924
At 31 October 2023
600,050
1,140
14,568
615,758
Carrying amount
At 31 October 2023
13,512,430
401,961
4,942
42,936
13,962,269
At 31 October 2022
13,512,430
500,000
53,670
14,066,100
HOTEL DELMERE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 4 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
14,230
Other debtors
24,499
12,000
24,499
26,230
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
365,474
Trade creditors
32,522
42,052
Taxation and social security
257,288
191,156
Other creditors
129,051
55,026
418,861
653,708