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Company registration number: 13241548
St. Pancras Hospitality Limited
Unaudited filleted financial statements
31 March 2023
St. Pancras Hospitality Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
St. Pancras Hospitality Limited
Directors and other information
Director Mrs K Millie-James
Secretary KHCS Secretaries Limited
Company number 13241548
Registered office Unit2 Capital Business Park
Manor Way
Borehamwood
Hertfordshire
WD6 1GW
St. Pancras Hospitality Limited
Statement of financial position
31 March 2023
31/03/23 31/03/22
Note £ £ £ £
Fixed assets
Tangible assets 4 6,000,000 3,514,000
_______ _______
6,000,000 3,514,000
Current assets
Debtors 5 20,136 333,764
Cash at bank and in hand 379,202 606,515
_______ _______
399,338 940,279
Creditors: amounts falling due
within one year 6 ( 1,000) ( 960)
_______ _______
Net current assets 398,338 939,319
_______ _______
Total assets less current liabilities 6,398,338 4,453,319
Creditors: amounts falling due
after more than one year 7 ( 5,244,727) ( 4,638,452)
_______ _______
Net assets/(liabilities) 1,153,611 ( 185,133)
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 1,153,610 ( 185,134)
_______ _______
Shareholders funds/(deficit) 1,153,611 ( 185,133)
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 22 December 2023 , and are signed on behalf of the board by:
Mrs K Millie-James
Director
Company registration number: 13241548
St. Pancras Hospitality Limited
Statement of changes in equity
Year ended 31 March 2023
Called up share capital Profit and loss account Total
£ £ £
At 3 March 2021 - - -
Loss for the year ( 185,134) ( 185,134)
_______ _______ _______
Total comprehensive income for the year - ( 185,134) ( 185,134)
Issue of shares 1 1
_______ _______ _______
Total investments by and distributions to owners 1 - 1
_______ _______ _______
At 31 March 2022 and 1 April 2022 1 ( 185,134) ( 185,133)
Loss for the year ( 1,147,256) ( 1,147,256)
Other comprehensive income for the year:
Reclassification from revaluation reserve to profit and loss account 2,486,000 2,486,000
_______ _______ _______
Total comprehensive income for the year - 1,338,744 1,338,744
_______ _______ _______
At 31 March 2023 1 1,153,610 1,153,611
_______ _______ _______
St. Pancras Hospitality Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit2 Capital Business Park, Manor Way, Borehamwood, Hertfordshire, WD6 1GW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. 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 capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Tangible assets
Freehold property Total
£ £
Cost or valuation
At 1 April 2022 3,514,000 3,514,000
Revaluation 2,486,000 2,486,000
_______ _______
At 31 March 2023 6,000,000 6,000,000
_______ _______
Depreciation
At 1 April 2022 and 31 March 2023 - -
_______ _______
Carrying amount
At 31 March 2023 6,000,000 6,000,000
_______ _______
At 31 March 2022 3,514,000 3,514,000
_______ _______
5. Debtors
31/03/23 31/03/22
£ £
Other debtors 20,136 333,764
_______ _______
6. Creditors: amounts falling due within one year
31/03/23 31/03/22
£ £
Other creditors 1,000 960
_______ _______
7. Creditors: amounts falling due after more than one year
31/03/23 31/03/22
£ £
Bank loans and overdrafts 2,477,202 2,477,202
Other creditors 2,767,525 2,161,250
_______ _______
5,244,727 4,638,452
_______ _______
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
Year ended 31/03/23
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mrs K Millie-James 1 - 1
_______ _______ _______
Period ended 31/03/22
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mrs K Millie-James - 1 1
_______ _______ _______