Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 12164483 Mr Alexander James Stevens true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12164483 2022-12-31 12164483 2023-12-31 12164483 2023-01-01 2023-12-31 12164483 frs-core:CurrentFinancialInstruments 2023-12-31 12164483 frs-core:BetweenOneFiveYears 2023-12-31 12164483 frs-core:ComputerEquipment 2023-12-31 12164483 frs-core:ComputerEquipment 2023-01-01 2023-12-31 12164483 frs-core:ComputerEquipment 2022-12-31 12164483 frs-core:FurnitureFittings 2023-12-31 12164483 frs-core:FurnitureFittings 2023-01-01 2023-12-31 12164483 frs-core:FurnitureFittings 2022-12-31 12164483 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 12164483 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 12164483 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 12164483 frs-core:MoreThanFiveYears 2023-12-31 12164483 frs-core:MotorVehicles 2023-12-31 12164483 frs-core:MotorVehicles 2023-01-01 2023-12-31 12164483 frs-core:MotorVehicles 2022-12-31 12164483 frs-core:WithinOneYear 2023-12-31 12164483 frs-core:ShareCapital 2023-12-31 12164483 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 12164483 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12164483 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 12164483 frs-bus:SmallEntities 2023-01-01 2023-12-31 12164483 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12164483 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12164483 1 2023-01-01 2023-12-31 12164483 frs-core:CostValuation 2022-12-31 12164483 frs-core:AdditionsToInvestments 2023-12-31 12164483 frs-core:CostValuation 2023-12-31 12164483 frs-core:ProvisionsForImpairmentInvestments 2022-12-31 12164483 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 12164483 frs-bus:Director1 2023-01-01 2023-12-31 12164483 frs-countries:EnglandWales 2023-01-01 2023-12-31 12164483 2021-12-31 12164483 2022-12-31 12164483 2022-01-01 2022-12-31 12164483 frs-core:CurrentFinancialInstruments 2022-12-31 12164483 frs-core:BetweenOneFiveYears 2022-12-31 12164483 frs-core:MoreThanFiveYears 2022-12-31 12164483 frs-core:WithinOneYear 2022-12-31 12164483 frs-core:ShareCapital 2022-12-31 12164483 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 12164483
AZURE HOTELS LIMITED
Unaudited Financial Statements
For The Year Ended 31 December 2023
Boroumand & Associates LLP
Chartered Accountants
Suite 105, Viglen House
Alperton Lane
London
HA0 1HD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12164483
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 473,732 284,965
Investments 5 112,970 111,720
586,702 396,685
CURRENT ASSETS
Debtors 6 251,524 758,372
Cash at bank and in hand 58,484 192,586
310,008 950,958
Creditors: Amounts Falling Due Within One Year 7 (300,988 ) (901,844 )
NET CURRENT ASSETS (LIABILITIES) 9,020 49,114
TOTAL ASSETS LESS CURRENT LIABILITIES 595,722 445,799
NET ASSETS 595,722 445,799
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 595,622 445,699
SHAREHOLDERS' FUNDS 595,722 445,799
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 23 September 2024 and were signed on its behalf by:
Mr Alexander James Stevens
Director
23/09/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
AZURE HOTELS LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 12164483 . The registered office is 1st Floor, 5 Wigmore Street, London, W1U 1PB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland " ("FRS 102") and requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in £, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention with the exception of investments which are measured at fair value.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold over the period of the lease
Motor Vehicles 25%
Fixtures & Fittings 25%
Computer Equipment 25%
2.5. 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 in the company's balance sheet 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 release the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include 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 transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

...CONTINUED
Page 3
Page 4
2.5. Financial Instruments - continued
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 creditors, bank loans, other loans and preference shares that are classified as debt, are initially recognised at 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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Tax is recognised in profit and loss except that a charge attributable to an item of income and expense recognised as other compehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.


2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9.
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.10.
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short term liquid investments with original maturity of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.11. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2022: 9)
9 9
Page 4
Page 5
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 307,227 36,445 114,693 11,225 469,590
Additions - 286,990 - 3,981 290,971
As at 31 December 2023 307,227 323,435 114,693 15,206 760,561
Depreciation
As at 1 January 2023 87,048 6,833 84,274 6,470 184,625
Provided during the period 30,723 39,006 28,673 3,802 102,204
As at 31 December 2023 117,771 45,839 112,947 10,272 286,829
Net Book Value
As at 31 December 2023 189,456 277,596 1,746 4,934 473,732
As at 1 January 2023 220,179 29,612 30,419 4,755 284,965
5. Investments
Other
£
Cost
As at 1 January 2023 111,720
Additions 1,250
As at 31 December 2023 112,970
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 112,970
As at 1 January 2023 111,720
Investments represent number of paintings and are measured at fair value.
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 10,037 243,207
Prepayments and accrued income 66,082 79,750
Other debtors 175,405 187,135
Amounts owed by group undertakings - 248,280
251,524 758,372
Page 5
Page 6
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 5,681 7,800
Corporation tax 19,128 72,451
Other taxes and social security 119,701 176,894
Accruals and deferred income 68,151 164,699
Amounts owed to group undertakings 88,327 -
Amounts owed to related parties - 480,000
300,988 901,844
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 220,569 220,569
Later than one year and not later than five years 882,276 882,276
Later than five years 257,330 477,899
1,360,175 1,580,744
10. Related Party Transactions
Transactions and balances with group companies
The company has taken advantage of the exemption not to disclose transactions with other members of the group under FRS 102 Section 33.1A as it is a wholly owned subsidiary.
11. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking are Hotel Hamilton Holdings S.A. and Saber Hotels Holdings S.A. incorporated in Luxembourg. Copies of the group accounts may be obtained from the secretary, Vision Exchange Building, Territorials Street, Zone 1, Central Business District, Birkirkara CBD 1070, Malta and the secretary, 15 Rue Notre Dame, 2204, Luxembourg.  The ultimate controlling party are Hotel Hamilton Holdings S.A. and Saber Hotels Holdings S.A. who own 50% of the shares of the company each.
Page 6