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REGISTERED NUMBER: 09109808 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

THE GEORGE HOSPITALITY COMPANY LIMITED

THE GEORGE HOSPITALITY COMPANY LIMITED (REGISTERED NUMBER: 09109808)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE GEORGE HOSPITALITY COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: V N Patel
S V Patel
N N Patel
B B Patel





SECRETARY: N N Patel





REGISTERED OFFICE: The George Hotel
10-12 King Street
Reading
Berkshire
RG1 2HE





REGISTERED NUMBER: 09109808 (England and Wales)

THE GEORGE HOSPITALITY COMPANY LIMITED (REGISTERED NUMBER: 09109808)

BALANCE SHEET
31 JULY 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 730,000 730,000
Investment property 5 3,520,000 3,520,000
4,250,000 4,250,000

CREDITORS
Amounts falling due within one year 6 27,690 -
NET CURRENT LIABILITIES (27,690 ) -
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,222,310

4,250,000

CREDITORS
Amounts falling due after more than one
year

7

(2,942,195

)

(3,078,745

)

PROVISIONS FOR LIABILITIES (124,500 ) (124,500 )
NET ASSETS 1,155,615 1,046,755

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 150,032 150,032
Fair value reserve 723,446 723,446
Retained earnings 282,037 173,177
1,155,615 1,046,755

THE GEORGE HOSPITALITY COMPANY LIMITED (REGISTERED NUMBER: 09109808)

BALANCE SHEET - continued
31 JULY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 December 2023 and were signed on its behalf by:





N N Patel - Director


THE GEORGE HOSPITALITY COMPANY LIMITED (REGISTERED NUMBER: 09109808)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

The George Hospitality Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The nature of the company's operations and principal activities in the period are receipt of rent from property investment.

The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest £.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
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.

Tangible fixed assets
Tangible fixed assets are initially measured at deemed cost at 1 August 2014, and subsequently at deemed cost, net of depreciation and any impairment losses. No depreciation is provided on freehold land. Freehold buildings are not depreciated as in the opinion of the directors, such depreciation is not material.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The directors have also made key assumptions in the determination of the fair value of the investment properties in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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.


THE GEORGE HOSPITALITY COMPANY LIMITED (REGISTERED NUMBER: 09109808)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued
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.

Turnover
Turnover is measured based at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Rental income is recognised in the period to which it relates on an accruals basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 August 2022
and 31 July 2023 730,000
NET BOOK VALUE
At 31 July 2023 730,000
At 31 July 2022 730,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022
and 31 July 2023 3,520,000
NET BOOK VALUE
At 31 July 2023 3,520,000
At 31 July 2022 3,520,000

THE GEORGE HOSPITALITY COMPANY LIMITED (REGISTERED NUMBER: 09109808)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. INVESTMENT PROPERTY - continued

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2018 1,683,500
Cost 1,836,500
3,520,000

Investment properties were subject to valuation by the directors who have experience in the location and class of investment properties valued.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Taxation and social security 27,690 -

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.7.23 31.7.22
£    £   
Amounts owed to group undertakings 2,867,195 3,003,745
Other creditors 75,000 75,000
2,942,195 3,078,745

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Lee Gardner FCA (Senior Statutory Auditor)
for and on behalf of Vale & West Accountancy Services Limited

9. CONTINGENT LIABILITIES

The Company has entered into cross guarantee arrangements with its ultimate parent company Nilvip Holdings Limited to secure its long term borrowings. At 31 July 2023 the contingent liability was £6 million (2022: £12.6 million).

THE GEORGE HOSPITALITY COMPANY LIMITED (REGISTERED NUMBER: 09109808)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

10. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Nilvip Holdings Limited, whose registered office is 10-12 King
Street, Reading, Berkshire, RG1 2HE.

Nilvip Holdings Limited is the smallest and largest group for which consolidated financial statements are prepared, including the results of the entity.