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REGISTERED NUMBER: 01319416 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Imp Hotel Limited

Imp Hotel Limited (Registered number: 01319416)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Imp Hotel Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J R Iley
Mrs CM Iley





REGISTERED OFFICE: 19 Flora Avenue
DARLINGTON
Co. Durham
DL3 8PF





REGISTERED NUMBER: 01319416 (England and Wales)





ACCOUNTANTS: King Hope
Chartered Accountants
34 Romanby Road
NORTHALLERTON
North Yorkshire
DL7 8NF

Imp Hotel Limited (Registered number: 01319416)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 451 605
Investments 5 87,594 77,613
Investment property 6 110,000 110,000
198,045 188,218

CURRENT ASSETS
Stocks 4,712 4,712
Debtors 7 8,463 8,281
Cash at bank and in hand 150,873 208,381
164,048 221,374
CREDITORS
Amounts falling due within one year 8 (5,028 ) (3,973 )
NET CURRENT ASSETS 159,020 217,401
TOTAL ASSETS LESS CURRENT
LIABILITIES

357,065

405,619

CAPITAL AND RESERVES
Called up share capital 43,332 43,332
Capital redemption reserve 10,000 10,000
Retained earnings 303,733 352,287
SHAREHOLDERS' FUNDS 357,065 405,619

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

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:





J R Iley - Director


Imp Hotel Limited (Registered number: 01319416)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Imp Hotel 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" including the provisions of Section 1A "Small Entities" 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 property rental income and sale of specific artwork and commodities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - at variable rates on reducing balance

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in the market value is transferred to retained earnings.

Stocks
Stocks 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 Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Investments
Investments held as fixed assets are stated at the fair value at the balance sheet date. Investments in group undertakings are valued at cost lest any permanent diminution in value.

Imp Hotel Limited (Registered number: 01319416)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Going concern
These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the Directors have carefully considered these risks, including the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on this assessment, the Directors consider that the company maintains an appropriate level of liquidity, sufficient to meet the demands of the business. In addition, the company assets are assessed for recoverability on a regular basis, and the Directors consider that the company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis.

The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the company's ability to continue as a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 3,967
DEPRECIATION
At 1 April 2023 3,362
Charge for year 154
At 31 March 2024 3,516
NET BOOK VALUE
At 31 March 2024 451
At 31 March 2023 605

5. FIXED ASSET INVESTMENTS
Interest
in Other
associate investments Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 66,135 11,478 77,613
Additions - 20,324 20,324
Disposals - (11,168 ) (11,168 )
Revaluations - 825 825
At 31 March 2024 66,135 21,459 87,594
NET BOOK VALUE
At 31 March 2024 66,135 21,459 87,594
At 31 March 2023 66,135 11,478 77,613

Imp Hotel Limited (Registered number: 01319416)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 March 2024 is represented by:

Interest
in Other
associate investments Totals
£    £    £   
Valuation in 2023 - 131 131
Valuation in 2024 - 825 825
Cost 66,135 20,503 86,638
66,135 21,459 87,594

If other investments had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 20,503 10,179

Other investments were valued by IG Trading and Investments Limited on 15 March 2024 and by the directors.





The company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated company

The American Dining Car Company Limited
Registered office: 19 Flora Avenue, Darlington, Co. Durham, DL3 8PF
Nature of business: Property management and development
%
Class of shares: holding
Ordinary 50.00

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 110,000
NET BOOK VALUE
At 31 March 2024 110,000
At 31 March 2023 110,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2016 (9,870 )
Valuation in 2021 15,000
Cost 104,870
110,000

Imp Hotel Limited (Registered number: 01319416)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. INVESTMENT PROPERTY - continued

If Investment Property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 104,870 104,870

Investment property was valued on an open market basis on 31 March 2024 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 200 -
Other debtors 8,263 8,281
8,463 8,281

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 185 422
Taxation and social security 1,069 482
Other creditors 3,774 3,069
5,028 3,973

9. DEFERRED TAX
£   
Balance at 1 April 2023 (4,577 )
Credit to Income Statement during year (103 )
Balance at 31 March 2024 (4,680 )

10. CONTINGENT LIABILITIES

There were no contingent liabilities at 31 March 2024. (2023 - None).

11. CAPITAL COMMITMENTS

There were no capital commitments at 31 March 2024. (2023 - None).

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
J R Iley and Mrs CM Iley
Balance outstanding at start of year (1,448 ) (624 )
Amounts repaid (624 ) (824 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,072 ) (1,448 )

The loan is interest free with no specific repayment terms.

13. ULTIMATE CONTROLLING PARTY

Mr J R Iley is the ultimate controlling party by virtue of his shareholding.