Registered number
10458462
Dunalastair Hotel Limited
Filleted Accounts
31 December 2023
Dunalastair Hotel Limited
Registered number: 10458462
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 3,200,000 7,674,265
Current assets
Debtors 4 473,572 898,000
Cash at bank and in hand 8,875 40,923
482,447 938,923
Creditors: amounts falling due within one year 5 (2,027,294) (1,933,741)
Net current liabilities (1,544,847) (994,818)
Total assets less current liabilities 1,655,153 6,679,447
Creditors: amounts falling due after more than one year 6 (3,310,900) (3,364,413)
Provisions for liabilities - (680,453)
Net (liabilities)/assets (1,655,747) 2,634,581
Capital and reserves
Called up share capital 1 1
Revaluation reserve 8 2,041,357 2,041,357
Profit and loss account (3,697,105) 593,223
Shareholder's funds (1,655,747) 2,634,581
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Tariq Usmani
Director
Approved by the board on 30 August 2024
Dunalastair Hotel Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:
Turnover
Turnover comprises rent receivable net of VAT by the company and is recognised when it falls due.
Investments
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Investments
Other
investments
£
Cost
At 1 January 2023 7,674,265
Additions 24,400
Revaluation (4,498,665)
At 31 December 2023 3,200,000
Historical cost
At 1 January 2023 4,952,455
At 31 December 2023 4,976,455
The fair value of the investment properties has been arrived on the basis of a valuation which was carried out on 15 January 2024 by the Graham + Sibbald, for the amount of £3,200,000. The valuation was made on an open market value basis derived from current market rents for similar properties, adjusted if necessary for any difference in nature, location or condition of the specific asset. The value of the properties at acquisition was £4,952,455.
4 Debtors 2023 2022
£ £
Other debtors 473,572 898,000
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 53,512 47,254
Trade creditors 1,275 2,737
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,911,545 1,830,546
Taxation and social security costs 17,636 18,122
Other creditors 43,326 35,082
2,027,294 1,933,741
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 3,310,900 3,364,413
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 3,364,412 3,411,667
The bank loan of £27k is a Bounce Back Loan which is to be repaid in full via monthly instalments by 12 August 2026. The loan is secured by a government guarantee. A bank loan for £3.375m was obtained in February 2022 with facility terms of 60 months with interest only payment for the first 12 months followed by capital and interest repayments calculated over 288 months period based on 3.9% margin per annum over the Bank of England base rate. This loan is secured on the company’s investment properties and has £3.337m balance to be repaid.
8 Revaluation reserve 2023 2022
£ £
At 1 January 2023 2,041,357 2,041,357
At 31 December 2023 2,041,357 2,041,357
9 Related party transactions
During the period the company charged rent of £360,000 (2022: £346,667) to a company under common control.
On 31 December 2023 the company was owed 948,203 (2022: £898,000) from companies under common directors’ control and it owed under the group undertakings £1,911,545 (2022: £1,830,546)
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 between two or more wholly owned members of a group.
10 Controlling party
The ultimate parent company is Henley Homes Plc which was placed in administration in August 2023. The ultimate controlling party throughout this and the previous period were the directors of the parent company.
The accounts of this company are not consolidated within the accounts of Henley Homes Public Limited Company due to its being in liquidation. The registered office of Henley Homes (in administration) is C/O James Cowper Kreston the White Building 1-4, Cumberland Place, Southampton, SO15 2NP.
11 Other information
Dunalastair Hotel Limited is a private company limited by shares and incorporated in England. Its registered office is:
50 Havelock Terrace
London
SW8 4AL
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