Z Hotels NH Limited
Financial Statements
For the year ended 31 March 2023
Pages for Filing with Registrar
Company Registration No. 12152412 (England and Wales)
Z Hotels NH Limited
Company Information
Directors
R Meehan
B King
M Gudka
(Appointed 19 July 2022)
P Leighton
(Appointed 24 November 2022)
Company number
12152412
Registered office
53-59 Chandos Place
London
WC2N 4HS
Auditor
Moore Kingston Smith LLP
6th Floor
9 Appold Street
London
EC2A 2AP
Z Hotels NH Limited
Contents
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
Z Hotels NH Limited
Balance Sheet
As at 31 March 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
4
240
240
Current assets
Cash at bank and in hand
2,398
2,398
Creditors: amounts falling due within one year
6
(9,840)
(6,240)
Net current liabilities
(7,442)
(3,842)
Net liabilities
(7,202)
(3,602)
Capital and reserves
Called up share capital
7
-
0
-
0
Share premium account
238
238
Other reserves
2,400
2,400
Profit and loss reserves
(9,840)
(6,240)
Total equity
(7,202)
(3,602)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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 16 April 2024 and are signed on its behalf by:
R Meehan
Director
Company Registration No. 12152412
Z Hotels NH Limited
Statement of Changes in Equity
For the year ended 31 March 2023
Page 2
Share capital
Share premium account
Other reserve
Profit and loss reserves
Total
£
£
£
£
£
Balance at 1 April 2021
-
0
238
2,400
(1,776)
862
Year ended 31 March 2022:
Loss and total comprehensive income for the year
-
-
-
(4,464)
(4,464)
Balance at 31 March 2022
-
0
238
2,400
(6,240)
(3,602)
Year ended 31 March 2023:
Loss and total comprehensive income for the year
-
-
-
(3,600)
(3,600)
Balance at 31 March 2023
-
0
238
2,400
(9,840)
(7,202)
Z Hotels NH Limited
Notes to the Financial Statements
For the year ended 31 March 2023
Page 3
1
Accounting policies
Company information

Z Hotels NH Limited is a private company limited by shares incorporated in England and Wales. The registered office is 53-59 Chandos Place, London, WC2N 4HS.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS “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 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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

 

Z Hotels NH Limited is a wholly owned subsidiary of Z Hotels Group Limited and the results of Z Hotels NH Limited are included in the consolidated financial statements of Z Hotels Group Limited which are available from Companies House.

1.2
Going concern

The Company made a loss for the year of £3,600 (2022: loss of £4,464) and had net liabilities at the reporting date of £7,202 (2022: liabilities of £3,602).

 

The Company is reliant on the ongoing support of the parent company and wider group. The directors of the ultimate parent company have assessed the Group's financial position, budgets and cash flow forecasts for the period ended May 2025, including stress testing these budgets and forecasts, and have confirmed that sufficient support will be available to enable the Company to continue to trade and meet its liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements. They have also confirmed that the amounts owed to the parent and fellow group companies will not be called for repayment until such time as the Company is able to pay these amounts without compromising its ability to trade and meet its liabilities as they fall due. Based on this assessment, the directors have a reasonable expectation that the Company has sufficient available resources to continue to trade and meet its liabilities as they fall due for at least 12 months from the date of approval of these financial statements for the year ended 31 March 2023 and have therefore prepared the financial statements on the going concern basis.

1.3
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Z Hotels NH Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
1
Accounting policies
(Continued)
Page 4
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
Financial instruments

The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments that are classified as 'other' or financial instruments measured at fair value.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Z Hotels NH Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
Page 5
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
240
240
5
Subsidiaries

Details of the company's subsidiaries at 31 March 2023 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Z Hotels HoldCo Limited
53-59 Chandos Place, London, WC2N 4HS
Holding company
Ordinary
100.00
6
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
6,340
4,320
Other creditors
3,500
1,920
9,840
6,240
Z Hotels NH Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
Page 6
7
Called up share capital
2023
2022
£
£
2 Ordinary shares of 1p each
-
-
8
Related party transactions

As a wholly owned subsidiary of Z Hotels Group Limited, advantage has been taken of the exemption in FRS 102 (section 33) "Related Party Disclosure" in respect of the disclosures of transactions and balances with other wholly owned group undertakings as consolidated financial statements including the company are prepared.

 

No key management received remuneration from the company during the period

9
Parent company

The immediate and ultimate parent company is Z Hotels Group Limited.

 

The smallest and largest group of undertakings for which group accounts have been drawn up is headed by Z Hotels Group Limited. Copies of the group financial statements can be obtained from Companies House.

 

10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was Matthew Meadows.
The auditor was Moore Kingston Smith LLP.
2023-03-312022-04-01false16 April 2024CCH SoftwareCCH Accounts Production 2023.200No description of principal activityThis audit opinion is unqualifiedR MeehanB KingP KingJ MeehanJ RaymondR RaymondJ GoldsteinM GudkaP LeightonA FernandezMatthew Meadows121524122022-04-012023-03-3112152412bus:Director12022-04-012023-03-3112152412bus:Director22022-04-012023-03-3112152412bus:Director82022-04-012023-03-3112152412bus:Director92022-04-012023-03-3112152412bus:Director32022-04-012023-03-3112152412bus:Director42022-04-012023-03-3112152412bus:Director52022-04-012023-03-3112152412bus:Director62022-04-012023-03-3112152412bus:Director72022-04-012023-03-3112152412bus:Director102022-04-012023-03-3112152412bus:RegisteredOffice2022-04-012023-03-31121524122023-03-31121524122022-03-3112152412core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3112152412core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3112152412core:CurrentFinancialInstruments2023-03-3112152412core:CurrentFinancialInstruments2022-03-3112152412core:ShareCapital2023-03-3112152412core:ShareCapital2022-03-3112152412core:SharePremium2023-03-3112152412core:SharePremium2022-03-3112152412core:OtherMiscellaneousReserve2023-03-3112152412core:OtherMiscellaneousReserve2022-03-3112152412core:RetainedEarningsAccumulatedLosses2023-03-3112152412core:RetainedEarningsAccumulatedLosses2022-03-3112152412core:ShareCapital2021-03-3112152412core:SharePremium2021-03-3112152412core:RetainedEarningsAccumulatedLosses2021-03-3112152412core:RetainedEarningsAccumulatedLosses2021-04-012022-03-31121524122021-04-012022-03-3112152412core:RetainedEarningsAccumulatedLosses2022-04-012023-03-3112152412bus:OrdinaryShareClass12023-03-3112152412bus:OrdinaryShareClass12022-04-012023-03-3112152412bus:PrivateLimitedCompanyLtd2022-04-012023-03-3112152412bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3112152412bus:FRS1022022-04-012023-03-3112152412bus:Audited2022-04-012023-03-3112152412bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP