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REGISTERED NUMBER: NI681689 (Northern Ireland)















Directors' Report and

Financial Statements for the Year Ended 31 October 2023

for

HHG No11. Limited

HHG No11. Limited (Registered number: NI681689)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Directors' Report 2

Independent Auditors' Report 4

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


HHG No11. Limited

Company Information
for the Year Ended 31 October 2023







Directors: Mr P D E Gibson
Mrs J A H Hastings
Mr H J Hastings
Mrs A C L Martin
Mrs A K McKimm
Mr J E Carson



Registered office: 1066 House
587 Upper Newtownards Road
Belfast
BT4 3LP



Registered number: NI681689 (Northern Ireland)



Independent auditors: Grant Thornton (NI) LLP
12-15 Donegall Square West
Belfast
Northern Ireland
BT1 6JH



Solicitors: O'Reilly Stewart
75-77 May Street
Belfast
BT1 3JL

HHG No11. Limited (Registered number: NI681689)

Directors' Report
for the Year Ended 31 October 2023

The directors present their report with the financial statements of the Company for the year ended 31 October 2023.

Principal activity
The principal activity of the Company in the year under review was that of property investment.

Future developments
The external commercial environment is expected to remain competitive in 2024.

Directors
The directors shown below have held office during the whole of the period from 1 November 2022 to the date of this report.

Mr P D E Gibson
Mrs J A H Hastings
Mr H J Hastings
Mrs A C L Martin
Mrs A K McKimm
Mr J E Carson

Other changes in directors holding office are as follows:

Mr J A McGinn - resigned 19 May 2023

Post balance sheet events
There are no post balance sheet events to report.

Statement of directors' responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-state whether the financial statements have been prepared in accordance with applicable accounting standards,
identify those standards, and note the effect of and the reasons for any material departure from those standards
-make judgements and accounting estimates that are reasonable and prudent; and
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement as to disclosure of information to auditors
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the Company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors
The auditors, Grant Thornton (NI) LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.


HHG No11. Limited (Registered number: NI681689)

Directors' Report
for the Year Ended 31 October 2023

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board:





Mr H J Hastings - Director


3 April 2024

Independent Auditors' Report to the Members of
HHG No11. Limited

Opinion
We have audited the financial statements of HHG No11. Limited ("Company"), which comprise the Statement of Comprehensive Income, the Balance Sheet and the Statement of Changes in Equity for the year ended 31 October 2023, and the related notes to the financial statements, including a summary of significant accounting policies.

The financial reporting framework that has been applied in the preparation of the financial statements is applicable law and United Kingdom Accounting Standards including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice).

In our opinion, HHG No11. Limited's financial statements:

-give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice of the
assets, liabilities and financial position of the company as at 31 October 2023 and of its financial performance for
the period then ended; and
-have been properly prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) ('ISAs (UK)') and applicable law. Our responsibilities under those standards are further described in the 'Responsibilities of the auditor for the audit of the financial statements' section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the FRC's Ethical Standard and the ethical pronouncements established by Chartered Accountants Ireland, applied as determined to be appropriate in the circumstances for the entity. We have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
Other information comprises information included in the annual report, other than the financial statements and our auditor's report thereon, including the Directors' Report. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies in the financial statements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Directors' Report has been prepared in accordance with applicable legal requirements.

Independent Auditors' Report to the Members of
HHG No11. Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Directors' Report.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Company's financial reporting process.

Independent Auditors' Report to the Members of
HHG No11. Limited


Auditors' responsibilities for the audit of the financial statements
The objectives of an auditor are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes their opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to compliance with Data Privacy law, Employment Law, Environmental Regulations, Pensions Legislation, and Health & Safety, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the local law and tax Companies Act 2006 and UK tax legislation. The Audit engagement partner considered the experience and expertise of the engagement team including industry specialists, ITGC specialists and valuation experts to ensure that the team had appropriate competence and capabilities to identify or recognise non-compliance with the laws and regulation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial performance and management bias through judgements and assumptions in significant accounting estimates, in particular in relation to significant one-off or unusual transactions.

We apply professional scepticism through the audit to consider potential deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statements.

In response to these principal risks, our audit procedures included but were not limited to:

- enquiries of management and the directors', on the policies and procedures in place regarding compliance with
laws and regulations, including consideration of known or suspected instances of non-compliance and whether
they have knowledge of any actual, suspected or alleged fraud;
- inspection of the Company's regulatory and legal correspondence and review of minutes of board meetings
during the year to corroborate inquiries made;
- gaining an understanding of the internal controls established to mitigate risk related to fraud;
- discussion amongst the engagement team in relation to the identified laws and regulations and regarding the risk
of fraud, and remaining alert to any indications of non-compliance or opportunities for fraudulent manipulation of
financial statements throughout the audit;
- identifying and testing journal entries to address the risk of inappropriate journals and management override of
controls;
- designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing;
- challenging assumptions and judgements made by management in their significant accounting estimates,
including the valuation of property held at fair value; and
- review of the financial statement disclosures to underlying supporting documentation and inquiries of
management.

The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance and management. As with any audit, there remains a risk of non-detection or irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Independent Auditors' Report to the Members of
HHG No11. Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Louise Kelly (Senior Statutory Auditor)
for and on behalf of Grant Thornton (NI) LLP
12-15 Donegall Square West
Belfast
Northern Ireland
BT1 6JH

3 April 2024

HHG No11. Limited (Registered number: NI681689)

Statement of Comprehensive Income
for the Year Ended 31 October 2023

2023 2022
Notes £    £   

Turnover - -

Administrative expenses (725 ) -
(725 ) -

Other operating income 29,748 -
Operating profit and
Profit before taxation 29,023 -

Tax on profit 6 (25,401 ) (70,271 )
Profit/(loss) for the financial year 3,622 (70,271 )

Other comprehensive income - -
Total comprehensive income for the year 3,622 (70,271 )

HHG No11. Limited (Registered number: NI681689)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Investments 7 35,181,575 35,181,575
Investment property 8 845,020 794,000
36,026,595 35,975,575

Current assets
Debtors 9 26,781 -

Creditors
Amounts falling due within one year 10 868,179 794,000
Net current liabilities (841,398 ) (794,000 )
Total assets less current liabilities 35,185,197 35,181,575

Provisions for liabilities 11 70,271 70,271
Net assets 35,114,926 35,111,304

Capital and reserves
Called up share capital 12 10,283,845 10,283,845
Retained earnings 13 24,831,081 24,827,459
Shareholders' funds 35,114,926 35,111,304

The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2024 and were signed on its behalf by:





Mr P D E Gibson - Director


HHG No11. Limited (Registered number: NI681689)

Statement of Changes in Equity
for the Year Ended 31 October 2023

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 November 2021 10,283,845 24,897,730 35,181,575

Changes in equity
Total comprehensive income - (70,271 ) (70,271 )
Balance at 31 October 2022 10,283,845 24,827,459 35,111,304

Changes in equity
Total comprehensive income - 3,622 3,622
Balance at 31 October 2023 10,283,845 24,831,081 35,114,926

HHG No11. Limited (Registered number: NI681689)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. Statutory information

The principal activity of the company during the year was that of property investment.

The company is a private company, limited by shares and is registered in Northern Ireland, within the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.

The functional and presentation currency of the financial statements is the Pound sterling (£).

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The following accounting policies have been applied consistently unless otherwise stated.

Going Concern
The company's activities, together with factors likely to affect its future development, performance and position are continuously reviewed by the directors. These include the company's cashflow, liquidity position and borrowing facilities. As a consequence, the directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook. The company meets its day to day working capital requirements through the group bank overdraft facilities.

The directors are confident that the company has adequate resources to continue its normal business with the continued support of fellow group companies for the foreseeable future, and accordingly they continue to adopt the going concern basis in preparing the Directors' report and financial statements.

Financial Reporting Standard 102 - reduced disclosure exemptions
FRS 102 allows a qualifying entity certain disclosure exemptions, subject to certain conditions, which have been complied with, including no objection to the use of exemptions by the company's shareholders.

The company has taken advantage of the following exemptions:

- from preparing a statement of cashflows, required under Section 7 of FRS 102 and paragraph 3.17(d), on
the basis that it is a qualifying entity and its ultimate parent company, Hastings Hotels Holdings Limited
includes the company's cash flows in its own consolidated financial statements;
- from disclosing certain financial instruments disclosures, required under FRS 102 paragraph 11.39 to
11.48A and paragraph 12.26 to 12.29, as the information is provided in the consolidated financial
statement disclosures;
- from disclosing the company's key management personnel compensation as required by FRS 102
paragraph 33.7; and
- from disclosing related party transactions that are wholly owned within the same group under paragraph
33.1 A from the provisions of FRS 102, on the grounds that at 31 October 2021 it was a wholly owned
subsidiary.

Preparation of consolidated financial statements
The financial statements contain information about HHG No11. Limited as an individual Company and do not contain consolidated financial information as the parent of a group. The Company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, William Hastings Group Limited, 1066 House, 587 Upper Newtownards Road, Belfast BT4 3LP.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less accumulated impairment.

Investment property
Investment properties are stated at fair value. Changes in fair value are recognised in the Statement of Comprehensive Income. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

HHG No11. Limited (Registered number: NI681689)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. Accounting policies - continued

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and loans from other parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost

Investments in ordinary and preference shares are measured:

-at fair value with changes recognised in the Statement of Comprehensive Income if the shares are publicly
traded or their fair value can otherwise be measured reliably;
-at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current Tax
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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

HHG No11. Limited (Registered number: NI681689)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. Accounting policies - continued

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the company becomes aware of the obligation and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

3. Critical accounting judgements and key sources of estimation uncertainty

Preparation of the financial statements required the directors to make significant judgements and estimates. Key assumptions concerning the future and other key sources of estimation uncertainty at the Balance sheet date, that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities with the next financial year are discussed below.

Property valuation

Investment properties are measured at revalued amount for financial reporting purposes, with the value of £845,020 at the Balance Sheet date (2022: £794,000). The fair value calculation utilised the current market value for the properties as determined by the Directors.

4. Directors' emoluments

There were no emoluments paid to directors during the year. The remuneration for directors is borne by other group companies and will be disclosed in the financial statements of HHG No10 Limited and Hastings Hotels Management Limited.

5. Operating profit

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Profit on disposal of fixed assets (13,200 ) -

HHG No11. Limited (Registered number: NI681689)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

6. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 25,401 -

Deferred tax:
Origination and reversal of ti ming differences - 53,406
Effect of changes in tax rates - 16,865
Total deferred tax - 70,271
Tax on profit 25,401 70,271

UK corporation tax has been charged at 22.52% (2022 - 19%).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 29,023 -
Profit multiplied by the standard rate of corporation tax in the UK of
22.518% (2022 - 19%)

6,535

-

Effects of:
Expenses not deductible for tax purposes 21,978 -
Effect of changes in tax rate - 16,865
Group relief received (3,112 ) -
Chargeable gains/(losses) - 53,406
Total tax charge 25,401 70,271

The standard rate of UK Corporation Tax from 1 April 2023 has increased to 25% for companies generating taxable profits of more than £250,000. The previous 19% tax rate will continue to apply to small companies with profits of less than £50,000, with taper relief rate for those companies with profits between the new thresholds.

7. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1 November 2022
and 31 October 2023 35,181,575
Net book value
At 31 October 2023 35,181,575
At 31 October 2022 35,181,575

HHG No11. Limited (Registered number: NI681689)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. Fixed asset investments - continued

Subsidiary undertakings

The following are subsidiary undertakings of the company:


Name
Country of
Incorporation
Class of
shares

Holding

Principal activity
HHG No.10 Limited United Kingdom Ordinary 100% Hotel and catering
William Hastings (Belfast) Limited * United Kingdom Ordinary 100% Property Investment
Fir Trees Lodge Hotel (1985) Limited * United Kingdom Ordinary 100% Dormant
Whites Hotels Limited * United Kingdom Ordinary 100% Dormant
Moyola Night Clubs Limited * United Kingdom Ordinary 100% Dormant
Moyola (Investments) Limited * United Kingdom Ordinary 100% Dormant

* Investment held by a subsidiary undertaking.

The registered office address of the above subsidiary undertakings is 1066 House, 587 Upper Newtownards Road, Belfast BT4 3LP.

8. Investment property
Total
£   
Fair value
At 1 November 2022 794,000
Additions 251,020
Disposals (200,000 )
At 31 October 2023 845,020
Net book value
At 31 October 2023 845,020
At 31 October 2022 794,000

The fair value calculation utilised the current market value for the properties as determined by the Directors.

9. Debtors: amounts falling due within one year
2023 2022
£    £   
Other debtors 5,250 -
VAT 20,517 -
Prepayments 1,014 -
26,781 -

10. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 184,584 -
Amounts owed to group undertakings 658,194 794,000
Corporation tax payable 25,401 -
868,179 794,000

Amounts owed to group undertakings are unsecured and repayable on demand. Balances of a trading nature are interest free. Interest is charged on balances which are financing in nature. The average interest rate payable in the year was 6.1% (2022: 3.2%).

HHG No11. Limited (Registered number: NI681689)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

11. Provisions for liabilities
2023 2022
£    £   
Deferred tax
Other timing differences 70,271 70,271

Deferred
tax
£   
Balance at 1 November 2022 70,271
Balance at 31 October 2023 70,271

12. Called up share capital



Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
NIL Ordinary £1 - -
1,082,510 A ordinary £9.50 10,283,845 10,283,845
10,283,845 10,283,845

13. Reserves
Retained
earnings
£   

At 1 November 2022 24,827,459
Profit for the year 3,622
At 31 October 2023 24,831,081

14. Ultimate parent company

William Hastings Group Limited is regarded by the directors as being the Company's ultimate parent company.

William Hastings Group Limited became the ultimate parent company on 19th May 2023. It is incorporated in Northern Ireland. Its financial statements are available at 1066 House, 587 Upper Newtownards Road, Belfast BT4 3LP. The smallest and largest group within which the results of the company are consolidated is that of William Hastings Group Limited and these are available as noted above.

15. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

16. Ultimate controlling party

The ultimate controlling party is The Hastings Family.