Silverfin false false 30/06/2024 01/07/2023 30/06/2024 Barbara Anne Maria Paschalis 01/04/2023 Paolo Paschalis 25/02/2014 Christopher Shepherd 01/04/2023 Yolanda Shepherd 25/02/2014 22 July 2024 The principal activity of the company during the financial year was owning and letting out of freehold premises. 08911833 2024-06-30 08911833 bus:Director1 2024-06-30 08911833 bus:Director2 2024-06-30 08911833 bus:Director3 2024-06-30 08911833 bus:Director4 2024-06-30 08911833 2023-06-30 08911833 core:CurrentFinancialInstruments 2024-06-30 08911833 core:CurrentFinancialInstruments 2023-06-30 08911833 core:Non-currentFinancialInstruments 2024-06-30 08911833 core:Non-currentFinancialInstruments 2023-06-30 08911833 core:ShareCapital 2024-06-30 08911833 core:ShareCapital 2023-06-30 08911833 core:RevaluationReserve 2024-06-30 08911833 core:RevaluationReserve 2023-06-30 08911833 core:RetainedEarningsAccumulatedLosses 2024-06-30 08911833 core:RetainedEarningsAccumulatedLosses 2023-06-30 08911833 core:Goodwill 2023-06-30 08911833 core:Goodwill 2024-06-30 08911833 core:LandBuildings 2023-06-30 08911833 core:FurnitureFittings 2023-06-30 08911833 core:LandBuildings 2024-06-30 08911833 core:FurnitureFittings 2024-06-30 08911833 bus:OrdinaryShareClass1 2024-06-30 08911833 bus:OrdinaryShareClass2 2024-06-30 08911833 bus:OrdinaryShareClass3 2024-06-30 08911833 2023-07-01 2024-06-30 08911833 bus:FilletedAccounts 2023-07-01 2024-06-30 08911833 bus:SmallEntities 2023-07-01 2024-06-30 08911833 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 08911833 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08911833 bus:Director1 2023-07-01 2024-06-30 08911833 bus:Director2 2023-07-01 2024-06-30 08911833 bus:Director3 2023-07-01 2024-06-30 08911833 bus:Director4 2023-07-01 2024-06-30 08911833 core:FurnitureFittings 2023-07-01 2024-06-30 08911833 2022-07-01 2023-06-30 08911833 core:LandBuildings 2023-07-01 2024-06-30 08911833 core:Non-currentFinancialInstruments 2023-07-01 2024-06-30 08911833 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 08911833 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 08911833 bus:OrdinaryShareClass2 2023-07-01 2024-06-30 08911833 bus:OrdinaryShareClass2 2022-07-01 2023-06-30 08911833 bus:OrdinaryShareClass3 2023-07-01 2024-06-30 08911833 bus:OrdinaryShareClass3 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08911833 (England and Wales)

REGENT HOTEL (CAMBRIDGE) LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

REGENT HOTEL (CAMBRIDGE) LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

REGENT HOTEL (CAMBRIDGE) LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2024
REGENT HOTEL (CAMBRIDGE) LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2024
DIRECTORS Barbara Anne Maria Paschalis
Paolo Paschalis
Christopher Shepherd
Yolanda Shepherd
REGISTERED OFFICE 82 Station Road
Soham
Ely
CB7 5DZ
England
United Kingdom
BUSINESS ADDRESS 41 Regent Street
Cambridge
Cambridgeshire
CB2 1AB
COMPANY NUMBER 08911833 (England and Wales)
ACCOUNTANT Corbett Accountants Limited
Bakersfield
82 Station Road
Soham
Ely
Cambridgeshire
CB7 5DZ
REGENT HOTEL (CAMBRIDGE) LIMITED

BALANCE SHEET

As at 30 June 2024
REGENT HOTEL (CAMBRIDGE) LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 9 9
Tangible assets 4 4,259,759 4,261,481
4,259,768 4,261,490
Current assets
Cash at bank and in hand 31,477 0
31,477 0
Creditors: amounts falling due within one year 5 ( 72,284) ( 107,327)
Net current liabilities (40,807) (107,327)
Total assets less current liabilities 4,218,961 4,154,163
Creditors: amounts falling due after more than one year 6 ( 916,875) ( 883,852)
Provision for liabilities 7 ( 52,836) ( 52,836)
Net assets 3,249,250 3,217,475
Capital and reserves
Called-up share capital 8 2,831,012 2,831,012
Revaluation reserve 323,322 323,322
Profit and loss account 94,916 63,141
Total shareholders' funds 3,249,250 3,217,475

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Regent Hotel (Cambridge) Limited (registered number: 08911833) were approved and authorised for issue by the Board of Directors on 22 July 2024. They were signed on its behalf by:

Paolo Paschalis
Director
REGENT HOTEL (CAMBRIDGE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
REGENT HOTEL (CAMBRIDGE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Regent Hotel (Cambridge) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 82 Station Road, Soham, Ely, CB7 5DZ, England, United Kingdom. The principal place of business is 41 Regent Street, Cambridge, Cambridgeshire, CB2 1AB.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill not amortised
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Fixtures and fittings 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

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 creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 July 2023 9 9
At 30 June 2024 9 9
Accumulated amortisation
At 01 July 2023 0 0
At 30 June 2024 0 0
Net book value
At 30 June 2024 9 9
At 30 June 2023 9 9

4. Tangible assets

Land and buildings Fixtures and fittings Total
£ £ £
Cost
At 01 July 2023 4,250,000 51,074 4,301,074
At 30 June 2024 4,250,000 51,074 4,301,074
Accumulated depreciation
At 01 July 2023 0 39,593 39,593
Charge for the financial year 0 1,722 1,722
At 30 June 2024 0 41,315 41,315
Net book value
At 30 June 2024 4,250,000 9,759 4,259,759
At 30 June 2023 4,250,000 11,481 4,261,481

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 27,500 57,906
Amounts owed to directors 3,620 4,125
Corporation tax 27,102 30,480
Other taxation and social security 2,647 400
Other creditors 11,415 14,416
72,284 107,327

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 916,875 883,852

Svenska Handelsbanken Ab (Publ) have 2 charges registered over the company's freehold property 41 Regent Street, Cambridge, CB2 1AB. The secured creditors are £944,375 ( 2023 - £903,852).

7. Provision for liabilities

2024 2023
£ £
Deferred tax 52,836 52,836

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,405,506 Ordinary A shares of £ 1.00 each 1,405,506 1,405,506
1,415,506 Ordinary B shares of £ 1.00 each 1,415,506 1,415,506
10,000 Ordinary C shares of £ 1.00 each 10,000 10,000
2,831,012 2,831,012

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Included within creditors are the following directors' loan accounts: 0 0
Mr. P. Paschalis 1,810 2,063
Mrs. Y. Shepherd 1,810 2,062
During the year the directors charged the company for use of office. 1,800 1,800
Dividends were paid in respect of shares held by the company's directors. 57,288 65,553