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COMPANY REGISTRATION NUMBER: 10520196
Imperial Hotel And Resort Limited
Filleted Unaudited Abridged Financial Statements
31 March 2024
Imperial Hotel And Resort Limited
Abridged Financial Statements
Period from 1 January 2023 to 31 March 2024
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
Imperial Hotel And Resort Limited
Abridged Statement of Financial Position
31 March 2024
31 Mar 24
31 Dec 22
Note
£
£
Fixed assets
Tangible assets
4
1,369,830
1,565,858
Current assets
Debtors
195,000
Cash at bank and in hand
6,866
433
---------
----
201,866
433
Creditors: amounts falling due within one year
3,862,153
3,886,399
------------
------------
Net current liabilities
3,660,287
3,885,966
------------
------------
Total assets less current liabilities
( 2,290,457)
( 2,320,108)
------------
------------
Net liabilities
( 2,290,457)
( 2,320,108)
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 2,290,557)
( 2,320,208)
------------
------------
Shareholders deficit
( 2,290,457)
( 2,320,108)
------------
------------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the period ending 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Imperial Hotel And Resort Limited
Abridged Statement of Financial Position (continued)
31 March 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 6 September 2024 , and are signed on behalf of the board by:
Mr H Al-Amin
Director
Company registration number: 10520196
Imperial Hotel And Resort Limited
Notes to the Abridged Financial Statements
Period from 1 January 2023 to 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 51-53 Steyne Road, London, W3 9NU, England.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
Equipment
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Tangible assets
£
Cost
At 1 January 2023
2,518,112
Additions
85,910
------------
At 31 March 2024
2,604,022
------------
Depreciation
At 1 January 2023
952,254
Charge for the period
281,938
------------
At 31 March 2024
1,234,192
------------
Carrying amount
At 31 March 2024
1,369,830
------------
At 31 December 2022
1,565,858
------------
5. Director's advances, credits and guarantees
At the year end the company owed the directors £3,297,653 (2023: £3,238,389).
6. Related party transactions
No dividends paid to the director during the year.