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REGISTERED NUMBER: 09187965 (England and Wales)















A H HOTEL & SPA LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






A H HOTEL & SPA LIMITED (REGISTERED NUMBER: 09187965)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 8

Statement of Financial Position 9

Statement of Changes in Equity 10

Statement of Cash Flows 11

Notes to the Statement of Cash Flows 12

Notes to the Financial Statements 13


A H HOTEL & SPA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: P M Cashman
J E Destexhe
S Fuller



SECRETARY: S Middleton



REGISTERED OFFICE: 2nd Floor, One Hobbs House
Harrovian Business Village
Bessborough Road
Harrow
HA1 3EX



REGISTERED NUMBER: 09187965 (England and Wales)



SENIOR STATUTORY AUDITOR: Kiran Patel BA BFP FCA



INDEPENDENT AUDITORS: Albury Associates Limited
Chartered Accountants & Statutory Auditor
2nd Floor, One Hobbs House,
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

A H HOTEL & SPA LIMITED (REGISTERED NUMBER: 09187965)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023


The directors present their strategic report for the year ended 31 December 2023.

REVIEW OF BUSINESS
Overall the results for the year and the financial position at the year end were considered satisfactory by the directors.

Revenue increased to £4.7 million compared to £4.3 million in 2022. The Loss for the year after taxation amounted to £433,219 (2022 - Profit £263,342)

The turnover for the company is based on the annual turnover for the hotel. It was forecast to grow in the coming year.

The focus of the company in the year has been to consolidate performance in a changing market place.

PRINCIPAL RISKS AND UNCERTAINTIES
The company operates in the hospitality sector. As such this is a cyclical industry that brings certain risks and uncertainties. The current economic climate has added to this uncertainty. Management have a system of controls to review this to attempt to mitigate any uncertainties and risks arising.

The main financial risks arising from the company's activities are credit risk, interest rate risk and liquidity risk. These are monitored by the Board of Directors and were not considered to be significant at the balance sheet date.

The company's policy in respect of interest rate risk and liquidity risk is to maintain its debt finance and retain sufficient funds for operations.The cash deposits are held in current accounts and debt is maintained at floating interest rates.

CREDITOR PAYMENT POLICY
The company's current policy concerning the payment of trade creditors is to:

- Settle the terms of payment with suppliers when agreeing the terms of each transaction;
- ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts;
- pay in accordance with the company's contractual and and other legal obligations.

FINANCIAL KEY PERFORMANCE INDICATORS
Management have key performance indicators (KPIs) to assess and monitor the company's performance. These include financial and other KPIs, such as occupancy percentage, average rate achieved per hotel room left, and individual cost metrics.

FUTURE DEVELOPMENTS
The directors believe that there is considerable scope for the development of the existing activities of the company in future years. The directors are continuously looking for potential ways in which to maximise the return from the company's existing activities and operations, given the current economic climate.

ON BEHALF OF THE BOARD:





P M Cashman - Director


30 August 2024

A H HOTEL & SPA LIMITED (REGISTERED NUMBER: 09187965)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023


The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of Hoteliers.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

P M Cashman
J E Destexhe
S Fuller

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Albury Associates Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:





P M Cashman - Director


30 August 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
A H HOTEL & SPA LIMITED


Opinion
We have audited the financial statements of A H Hotel & Spa Limited (the 'company') for the year ended 31 December 2023 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
A H HOTEL & SPA LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
A H HOTEL & SPA LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may, involve deliberate concealment by, for example, forgery or intentional representations, or through collusion. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for prevention and detection of fraud rests with both those charged with governance of the entity and management.

Our procedures are outlined below:

- We identified the laws and regulations applicable to the company through discussions with management, and from
our commercial knowledge and experience of the sector in which the company operates;

- We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and
determined that the most significant of those that related to the reporting framework (Companies Act 2006) and the
relevant tax compliance regulations in the jurisdictions in which the company operates. In addition, we concluded that
there are certain significant laws and regulations that may have an effect on the determination of the amounts and
disclosures in the financial statements and those laws and regulations relating to health and safety, employee matters
and bribery and corruption practices;

- We assessed the extent of compliance with the laws and regulations identified above through making enquiries of
management and inspecting correspondence were available; and

- The identified laws and regulations were communicated within the audit team regularly and the team remained alert
to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatements, including obtaining an understanding of how fraud might occur, by:

- Making enquiries of management as to where they considered there to be suspect ability to fraud, their knowledge of
actual, suspected and alleged fraud; and

- Considering internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
- Performed analytical procedures to identify any unusual or unexpected relationships;
- Tested journal entries to identify unusual transactions;
- Assessed with the judgements and assumptions made in determining the accounting Estimates are indicativeof
potential bias; and
- Investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which include, but were not limited to:
- Agreeing financial statement disclosures to underlying supporting documentation;
- Reading the minutes of meetings of those charged with governance:
- Enquiring of management to actual and potential litigation and claims; and

-
Reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, andthe
company's legal advisers.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
A H HOTEL & SPA LIMITED

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Kiran Patel BA BFP FCA (Senior Statutory Auditor)
for and on behalf of Albury Associates Limited
Chartered Accountants & Statutory Auditor
2nd Floor, One Hobbs House,
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

30 August 2024

A H HOTEL & SPA LIMITED (REGISTERED NUMBER: 09187965)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £   

REVENUE 4,691,512 4,278,509

Cost of sales 700,144 572,535
GROSS PROFIT 3,991,368 3,705,974

Administrative expenses 3,788,133 3,177,221
OPERATING PROFIT 4 203,235 528,753

Interest receivable and similar income - 313
203,235 529,066

Interest payable and similar expenses 5 662,135 150,982
(LOSS)/PROFIT BEFORE TAXATION (458,900 ) 378,084

Tax on (loss)/profit 6 (25,681 ) 114,742
(LOSS)/PROFIT FOR THE FINANCIAL YEAR (433,219 ) 263,342

OTHER COMPREHENSIVE INCOME
- 3,825,607
Income tax relating to other comprehensive
income

-

(726,866

)
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

-

3,098,741
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

(433,219

)

3,362,083

A H HOTEL & SPA LIMITED (REGISTERED NUMBER: 09187965)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 - -
Property, plant and equipment 8 9,253,424 9,239,328
9,253,424 9,239,328

CURRENT ASSETS
Inventories 9 30,087 31,706
Debtors 10 589,506 647,112
Cash at bank and in hand 140,652 818,748
760,245 1,497,566
CREDITORS
Amounts falling due within one year 11 1,456,624 1,385,995
NET CURRENT (LIABILITIES)/ASSETS (696,379 ) 111,571
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,557,045

9,350,899

CREDITORS
Amounts falling due after more than one year 12 (4,847,867 ) (5,208,502 )

PROVISIONS FOR LIABILITIES 15 (815,927 ) (815,927 )
NET ASSETS 2,893,251 3,326,470

CAPITAL AND RESERVES
Called up share capital 16 200 200
Share premium 17 199,800 199,800
Revaluation reserve 17 3,098,741 3,098,741
Retained earnings 17 (405,490 ) 27,729
SHAREHOLDERS' FUNDS 2,893,251 3,326,470

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





P M Cashman - Director


A H HOTEL & SPA LIMITED (REGISTERED NUMBER: 09187965)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023

Called up
share Retained Share Revaluation Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 January 2022 200 (235,613 ) 199,800 - (35,613 )

Changes in equity
Total comprehensive income - 263,342 - 3,098,741 3,362,083
Balance at 31 December 2022 200 27,729 199,800 3,098,741 3,326,470

Changes in equity
Total comprehensive income - (433,219 ) - - (433,219 )
Balance at 31 December 2023 200 (405,490 ) 199,800 3,098,741 2,893,251

A H HOTEL & SPA LIMITED (REGISTERED NUMBER: 09187965)

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 68,808 188,572
Interest paid (662,135 ) (150,982 )
Tax paid (25,681 ) (313 )
Taxation refund 25,681 -
Net cash from operating activities (593,327 ) 37,277

Cash flows from investing activities
Purchase of tangible fixed assets (84,769 ) (136,800 )
Interest received - 313
Net cash from investing activities (84,769 ) (136,487 )

Decrease in cash and cash equivalents (678,096 ) (99,210 )
Cash and cash equivalents at beginning of
year

2

818,748

917,958

Cash and cash equivalents at end of year 2 140,652 818,748

A H HOTEL & SPA LIMITED (REGISTERED NUMBER: 09187965)

NOTES TO THE STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2023 2022
£    £   
(Loss)/profit before taxation (458,900 ) 378,084
Depreciation charges 70,673 128,853
Finance costs 662,135 150,982
Finance income - (313 )
273,908 657,606
Decrease/(increase) in inventories 1,619 (9,711 )
Decrease/(increase) in trade and other debtors 83,287 (112,068 )
Decrease in trade and other creditors (290,006 ) (347,255 )
Cash generated from operations 68,808 188,572

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2023
31/12/23 1/1/23
£    £   
Cash and cash equivalents 140,652 818,748
Year ended 31 December 2022
31/12/22 1/1/22
£    £   
Cash and cash equivalents 818,748 917,958


3. ANALYSIS OF CHANGES IN NET DEBT

At 1/1/23 Cash flow At 31/12/23
£    £    £   
Net cash
Cash at bank and in hand 818,748 (678,096 ) 140,652
818,748 (678,096 ) 140,652
Debt
Debts falling due within 1 year (124,000 ) (41,800 ) (165,800 )
Debts falling due after 1 year (5,208,502 ) 360,635 (4,847,867 )
(5,332,502 ) 318,835 (5,013,667 )
Total (4,513,754 ) (359,261 ) (4,873,015 )

A H HOTEL & SPA LIMITED (REGISTERED NUMBER: 09187965)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

A H Hotel & Spa Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts receivable in respect of the provision of hotel accommodation, conference facilities and food and beverages during the year, excluding VAT and trade discounts.

The Company has analysed its business activities and applied the 5-step model prescribed by IFRS l5 to each material line of business, as outlined below:

Sale of accommodation
The contract to provide accommodation is established when the customer books accommodation. The performance obligation is to provide the right to use accommodation for a given number of nights, and the transaction price is the room rate for each night determined at the time of the booking. The performance obligation is met when the customer is given the right to use the accommodation. and so revenue is recognised for each night as it takes place, at the room rate for that night.

Customers may pay in advance for accommodation. In this case the Company has received consideration for services not yet provided. This is treated as a contract liability until the performance obligation is met.

Sale of food and beverage
The contract is established when the customer orders the food or drink item and the performance obligation is the provision of food and drink by the outlet. The performance obligation is satisfied when the food and drink is delivered to the customer, a.nd revenue is recognised at this point at the price for the items purchased. Payment is made on the same day and consequently there are no contract assets or liabilities.

Goodwill
Goodwill, being the amount paid on connection with the acquisition of a hotel in 2015, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

A H HOTEL & SPA LIMITED (REGISTERED NUMBER: 09187965)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets excluding freehold property are stated at cost, or where appropriate fair value, less depreciation. Depreciation is provided at the rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant & Machinery - 4 years straight line.

Depreciation is not provided on the freehold property on the basis that the hotel is a historical building, and the economic life can not be reasonably estimated. Additionally, the directors opinion is that the residual value of the property is high and therefore any depreciation charge would be negligible and immaterial. This is in accordance with FRS 102. The directors have considered the value of the property in light of recent valuation and do not believe that any impairment to the value included in the financial statements is necessary.

The freehold property is revalued each year-end by the directors at open market value with the surplus being taken to revaluation reserve.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Cash & cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

A H HOTEL & SPA LIMITED (REGISTERED NUMBER: 09187965)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and bank loans are classified as debt. These are initially recognised at the transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Pension costs and other post-retirement benefits
The company operated a defined contribution pension scheme. Contributions payable to the scheme are charged to profit or loss account in the year to which they relate. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 1,657,192 1,473,749
Social security costs 88,835 79,470
Other pension costs 16,896 15,392
1,762,923 1,568,611

The average number of employees during the year was as follows:
2023 2022

Administration 94 86

A H HOTEL & SPA LIMITED (REGISTERED NUMBER: 09187965)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. EMPLOYEES AND DIRECTORS - continued

2023 2022
£    £   
Directors' remuneration - -

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 70,673 128,852
Auditors' remuneration 8,780 8,750

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank loan interest 662,015 150,982
Other interest payable 120 -
662,135 150,982

6. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the loss for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax (25,681 ) 25,681

Deferred tax movement - 89,061
Tax on (loss)/profit (25,681 ) 114,742

UK corporation tax has been charged at 19% (2022 - 19%).

A H HOTEL & SPA LIMITED (REGISTERED NUMBER: 09187965)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. TAXATION - continued

Reconciliation of total tax (credit)/charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
(Loss)/profit before tax (458,900 ) 378,084
(Loss)/profit multiplied by the standard rate of corporation tax in the UK of
19% (2022 - 19%)

(87,191

)

71,836

Effects of:
Expenses not deductible for tax purposes 4,697 4,083
Capital allowances in excess of depreciation (23,434 ) (24,687 )
Utilisation of tax losses 25,681 -
Adjustments to tax charge in respect of previous periods (25,681 ) -
Deferred Tax Movement - 89,061
Tax losses brought forward - (25,551 )
Tax losses carried forward 80,247 -
Total tax (credit)/charge (25,681 ) 114,742

Tax effects relating to effects of other comprehensive income

2022
Gross Tax Net
£    £    £   
Revaluation during the year 3,825,607 (726,866 ) 3,098,741

The company has estimated tax losses amounting to £422,354 available to carry forward and use against future taxable trading profits.

7. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 975,000
AMORTISATION
At 1 January 2023
and 31 December 2023 975,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

A H HOTEL & SPA LIMITED (REGISTERED NUMBER: 09187965)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. PROPERTY, PLANT AND EQUIPMENT
Freehold Plant and
property machinery Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 9,100,000 2,345,202 11,445,202
Additions 10,580 74,189 84,769
At 31 December 2023 9,110,580 2,419,391 11,529,971
DEPRECIATION
At 1 January 2023 - 2,205,874 2,205,874
Charge for year - 70,673 70,673
At 31 December 2023 - 2,276,547 2,276,547
NET BOOK VALUE
At 31 December 2023 9,110,580 142,844 9,253,424
At 31 December 2022 9,100,000 139,328 9,239,328

Cost or valuation at 31 December 2023 is represented by:

Freehold Plant and
property machinery Totals
£    £    £   
Valuation in 2022 3,426,703 - 3,426,703
Cost 5,683,877 2,419,391 8,103,268
9,110,580 2,419,391 11,529,971

9. INVENTORIES
2023 2022
£    £   
Stocks 30,087 31,706

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 292,333 316,861
Amounts owed by associates 100,000 100,000
Other debtors 5,033 5,034
Tax 25,681 -
Prepayments 166,459 225,217
589,506 647,112

A H HOTEL & SPA LIMITED (REGISTERED NUMBER: 09187965)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 13) 165,800 124,000
Trade creditors 261,633 341,349
Tax - 25,681
VAT Account 150,306 110,702
Other creditors 187,585 124,527
Accrued expenses 691,300 659,736
1,456,624 1,385,995

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 13) 4,847,867 5,208,502

13. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 165,800 124,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 4,847,867 248,000

Amounts falling due between two and five years:
Bank loans - 2-5 years - 4,960,502

14. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 5,013,667 5,332,502

The Bank loan is secured by a Debenture dated 9 December 2015, providing a fixed charge over the freehold property, floating charge and a negative pledge over all the assets of the company.

15. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred Tax Movement 815,927 815,927

A H HOTEL & SPA LIMITED (REGISTERED NUMBER: 09187965)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


15. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 815,927
Accelerated Capital Allowances
Freehold Property Revaluation
Balance at 31 December 2023 815,927

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
200 Ordinary Shares £1 200 200

17. RESERVES
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1 January 2023 27,729 199,800 3,098,741 3,326,270
Deficit for the year (433,219 ) (433,219 )
At 31 December 2023 (405,490 ) 199,800 3,098,741 2,893,051

18. RELATED PARTY DISCLOSURES

At the year-end date, included within debtors is an amount of £100,000 (2022: £100,000) owed to the company from Hotel Colessio (Holdings) Limited. The directors have a beneficial interest in that entity. The amount is unsecured, interest free and repayable on demand.

At the year-end date, included within debtors is an amount of £82,495 (2022: £43,901) owed to the company from Cashman Hospitality Consulting Ltd. The directors have a beneficial interest in that entity. The amount is unsecured, interest free and repayable on demand.

Management fees of £80,000 (2022: £95,000) were paid during the year to Focus Hotels Management Limited. The directors have a beneficial interest in that entity. Included in debtors, is an amount of £42,797 (2022: £34,180) owed from Focus Hotels Management Limited at the year-end date.

19. POST BALANCE SHEET EVENTS

There have been no material events after the year-end date that require disclosures or adjustments in the financial statement.

20. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Mr P M Cashman, Mr J E Destexhe and Mr S Fuller.