Registration number:
Wentworth Hotel Investments Limited
for the Year Ended 31 December 2023
Wentworth Hotel Investments Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Wentworth Hotel Investments Limited
Company Information
Director |
Mr Michael George Ashby Pritt |
Registered office |
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Accountants |
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Wentworth Hotel Investments Limited
(Registration number: 12765548)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
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Fixed assets |
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Other financial assets |
4,516,120 |
4,193,709 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Wentworth Hotel Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Wentworth Hotel Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in debt securities are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-free borrowings from the director are recorded at the transaction values.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Wentworth Hotel Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Financial instruments
Classification
Recognition and measurement
Quoted shares, unit trusts and structured products are measured at fair value at the reporting date. Fair value is based on quoted market price. Changes in fair value are recognised in the profit and loss account.
Loan stocks are measured at cost less impairment at the reporting date.
Impairment
Current versus non-current classification
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Wentworth Hotel Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Other financial assets (current and non-current) |
Financial assets at fair value through profit and loss |
Financial assets at cost less impairment |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 January 2023 |
3,611,508 |
648,946 |
4,260,454 |
Additions |
791,721 |
358,444 |
1,150,165 |
Disposals |
(755,080) |
(198,922) |
(954,002) |
Fair value adjustments |
104,589 |
- |
104,589 |
At 31 December 2023 |
3,752,738 |
808,468 |
4,561,206 |
Impairment |
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At 1 January 2023 |
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66,744 |
66,744 |
Losses made/(reversed) in the period |
- |
(21,658) |
(21,658) |
At 31 December 2023 |
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45,086 |
45,086 |
Carrying amount |
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At 31 December 2023 |
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4,516,120 |
Debtors |
Current |
2023 |
2022 |
Amounts owed by group undertakings |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Taxation and social security |
- |
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Accruals and deferred income |
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Other creditors |
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Wentworth Hotel Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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13,600,000 |
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13,600,000 |
Loans and borrowings |
Current loans and borrowings
2023 |
2022 |
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Other borrowings |
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Related party transactions |
Summary of transactions with other related parties
Financial instruments |
Categorisation of financial instruments
2023 |
2022 |
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Financial assets measured at fair value through profit or loss |
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Financial assets measured at fair value
Shares, unit trusts and structured products
Valued at quoted market price
The fair value is £3,752,737 (2022 - £3,611,508) and the change in value included in profit or loss is £104,589 (2022 - £(406,717)).
Derivatives
Structured investment products
Financial instruments include structured investment products with carrying values in the balance sheet totalling £196,632 (2022 - £285,439). The products involved typically provide a defined return over a fixed period which is dependent on the performance of underlying markets with a focus on capital preservation.