Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falsecontinued to be that of the operation of, and trading in, hotel properties.1919falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04814760 2023-04-01 2024-03-31 04814760 2022-04-01 2023-03-31 04814760 2024-03-31 04814760 2023-03-31 04814760 c:Director1 2023-04-01 2024-03-31 04814760 c:Director2 2023-04-01 2024-03-31 04814760 c:Director3 2023-04-01 2024-03-31 04814760 c:Director4 2023-04-01 2024-03-31 04814760 c:RegisteredOffice 2023-04-01 2024-03-31 04814760 d:Buildings 2023-04-01 2024-03-31 04814760 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 04814760 d:Buildings d:LongLeaseholdAssets 2024-03-31 04814760 d:Buildings d:LongLeaseholdAssets 2023-03-31 04814760 d:PlantMachinery 2023-04-01 2024-03-31 04814760 d:PlantMachinery 2024-03-31 04814760 d:PlantMachinery 2023-03-31 04814760 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04814760 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04814760 d:CurrentFinancialInstruments 2024-03-31 04814760 d:CurrentFinancialInstruments 2023-03-31 04814760 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 04814760 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04814760 d:ShareCapital 2024-03-31 04814760 d:ShareCapital 2023-03-31 04814760 d:RetainedEarningsAccumulatedLosses 2024-03-31 04814760 d:RetainedEarningsAccumulatedLosses 2023-03-31 04814760 c:FRS102 2023-04-01 2024-03-31 04814760 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04814760 c:FullAccounts 2023-04-01 2024-03-31 04814760 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04814760 d:WithinOneYear 2024-03-31 04814760 d:WithinOneYear 2023-03-31 04814760 d:BetweenOneFiveYears 2024-03-31 04814760 d:BetweenOneFiveYears 2023-03-31 04814760 d:MoreThanFiveYears 2024-03-31 04814760 d:MoreThanFiveYears 2023-03-31 04814760 2 2023-04-01 2024-03-31 04814760 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 04814760









CONTEMPORARY HOTELS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
CONTEMPORARY HOTELS LIMITED
 
 
COMPANY INFORMATION


Directors
The Honourable Ambar Paul 
Mrs Gauri Paul 
Mr Akhil Paul 
Miss Anika Paul 




Registered number
04814760



Registered office
19 Ambika House
9B Portland Place

London

W1B 1PS




Accountants
WMT
Chartered Accountants

4 Beaconsfield Road

St Albans

Hertfordshire

AL1 3RD





 
CONTEMPORARY HOTELS LIMITED
REGISTERED NUMBER: 04814760

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
321,295
333,036

  
321,295
333,036

Current assets
  

Debtors: amounts falling due within one year
 6 
33,461
35,623

Cash at bank and in hand
 7 
789,290
936,878

  
822,751
972,501

Creditors: amounts falling due within one year
 8 
(16,510)
(87,412)

Net current assets
  
 
 
806,241
 
 
885,089

Total assets less current liabilities
  
1,127,536
1,218,125

  

Net assets
  
1,127,536
1,218,125


Capital and reserves
  

Called up share capital 
  
50,000
50,000

Profit and loss account
  
1,077,536
1,168,125

  
1,127,536
1,218,125


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and 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: 




Page 1

 
CONTEMPORARY HOTELS LIMITED
REGISTERED NUMBER: 04814760
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The Honourable Ambar Paul
Director

Date: 14 August 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

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

1.


General information

Contemporary Hotels Limited is a company limited by shares, incorporated and registered in England and Wales. The address of the registered office is given on the company information page. The nature of the Company's operations and its principal activities are disclosed in the Directors' report.

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.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the directors have adopted the going concern basis of accounting in preparing the financial statements

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

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

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
Plant and machinery
-
10-20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates. There are no judgments made that have a significant effect on the amounts recognised in the financial statements.


4.


Employees

The average monthly number of employees, including directors, during the year was 19 (2023 - 19).

Page 4

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

5.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 April 2023
1,778,310
318,211
2,096,521


Additions
2,772
-
2,772



At 31 March 2024

1,781,082
318,211
2,099,293



Depreciation


At 1 April 2023
1,445,274
318,211
1,763,485


Charge for the year on owned assets
14,513
-
14,513



At 31 March 2024

1,459,787
318,211
1,777,998



Net book value



At 31 March 2024
321,295
-
321,295



At 31 March 2023
333,036
-
333,036


6.


Debtors

2024
2023
£
£


Other debtors
5,099
5,865

Prepayments and accrued income
28,362
29,758

33,461
35,623



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
789,290
936,878

789,290
936,878


Page 5

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

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
3,664
12,066

Amounts owed to group undertakings
1
1

Corporation tax
-
56,104

Other creditors
3,074
5,097

Accruals and deferred income
9,771
14,144

16,510
87,412



9.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
26,000
26,000

Later than 1 year and not later than 5 years
104,000
104,000

Later than 5 years
1,690,000
1,716,000

1,820,000
1,846,000


10.


Related party transactions

Caparo Hotels Limited is a related party by virtue common ownership. During the year the Company was charged management charges from Caparo Hotels Limited of £Nil (2023: £73,878). The Company also charged management fees of £Nil (2023: £11,250) to Caparo Hotels Limited. All transaction were made at commercial rates.
At the year end the Company was owed £568,164 (2023: £568,164) by its fellow subsidiary, Contemporary Hotels Management Services Limited. At the year end a provision of £568,164 (2023: £568,164) exists against the debtor balance.
At the year end the Company owed £1 (2023: £1) to its ultimate parent company, Contemporary Holdings Limited.
At the year end the Company owed a Director £3,074 (2023: £3,074).

Page 6

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

11.


Controlling party

In both the current and comparative year, the immediate and ultimate parent of the Company is Contemporary Holdings Limited, a company registered in Jersey.
In both the current and comparative year, the ultimate controlling party is The Honourable Ambar Paul, by virtue of his majority shareholding.

 
Page 7