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Registered number: 04814353









CONTEMPORARY HOTELS MANAGEMENT SERVICES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
CONTEMPORARY HOTELS MANAGEMENT SERVICES LIMITED
REGISTERED NUMBER: 04814353

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

  

Creditors: amounts falling due within one year
 3 
(568,255)
(568,186)

Net current liabilities
  
 
 
(568,255)
 
 
(568,186)

Total assets less current liabilities
  
(568,255)
(568,186)

  

Net liabilities
  
(568,255)
(568,186)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(568,256)
(568,187)

  
(568,255)
(568,186)


For the year ended 31 March 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




The Honourable Ambar Paul
Director

Date: 14 August 2024

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
CONTEMPORARY HOTELS MANAGEMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Contemporary Hotels Management Services Limited is a company limited by shares and incorporated in England & Wales under the Companies Act 2006.  The address of the registered office is given on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.3

Creditors

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

 
2.4

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
13
22

Amounts owed to group undertakings
568,242
568,164

568,255
568,186


Page 2

 
CONTEMPORARY HOTELS MANAGEMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Related party transactions

At the year end the company was owed £1,314,857 (2023: £1,314,857) by Contemporary Holdings Limited, the company's ultimate parent company. No interest was charged. A provision of £1,314,857 (2023: £1,314,857) has been made against this balance.
At the year end the company owed £568,201 (2023: £568,164) to Contemporary Hotels Limited, a fellow subsidiary of Contemporary Holdings Limited.  There were no movements on this balance during the year and no interest was charged.


5.


Controlling party

The company is a subsidiary undertaking of Contemporary Holdings Limited, the ultimate parent undertaking, a company controlled by the Honourable Ambar Paul and incorporated in Jersey.

 
Page 3