1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 23,325 13,765 1,912 15,677 7,648 9,560 xbrli:pure xbrli:shares iso4217:GBP 10757394 2023-06-01 2024-05-31 10757394 2024-05-31 10757394 2023-05-31 10757394 2022-06-01 2023-05-31 10757394 2023-05-31 10757394 2022-05-31 10757394 core:FurnitureFittings 2023-06-01 2024-05-31 10757394 bus:Director1 2023-06-01 2024-05-31 10757394 core:FurnitureFittings 2023-05-31 10757394 core:FurnitureFittings 2024-05-31 10757394 core:WithinOneYear 2024-05-31 10757394 core:WithinOneYear 2023-05-31 10757394 core:ShareCapital 2024-05-31 10757394 core:ShareCapital 2023-05-31 10757394 core:RetainedEarningsAccumulatedLosses 2024-05-31 10757394 core:RetainedEarningsAccumulatedLosses 2023-05-31 10757394 core:FurnitureFittings 2023-05-31 10757394 bus:SmallEntities 2023-06-01 2024-05-31 10757394 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10757394 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10757394 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10757394 bus:FullAccounts 2023-06-01 2024-05-31
COMPANY REGISTRATION NUMBER: 10757394
VW Hotel Ltd
Filleted Unaudited Financial Statements
31 May 2024
VW Hotel Ltd
Financial Statements
Year ended 31 May 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
VW Hotel Ltd
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
7,648
9,560
Current assets
Debtors
6
782,767
604,935
Cash at bank and in hand
6,404
100
---------
---------
789,171
605,035
Creditors: amounts falling due within one year
7
1,156,651
891,021
------------
---------
Net current liabilities
367,480
285,986
---------
---------
Total assets less current liabilities
( 359,832)
( 276,426)
---------
---------
Net liabilities
( 359,832)
( 276,426)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 359,932)
( 276,526)
---------
---------
Shareholders deficit
( 359,832)
( 276,426)
---------
---------
These 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 statement of income and retained earnings has not been delivered.
For the year ending 31 May 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 financial statements for the year 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 financial statements .
VW Hotel Ltd
Statement of Financial Position (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 24 October 2024 , and are signed on behalf of the board by:
J. Cohen
Director
Company registration number: 10757394
VW Hotel Ltd
Notes to the Financial Statements
Year ended 31 May 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 Trafford Wharf Road, Stretford, Manchester, M17 1AB.
2. Statement of compliance
These 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 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 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 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 2 ).
5. Tangible assets
Fixtures and fittings
£
Cost
At 1 June 2023 and 31 May 2024
23,325
--------
Depreciation
At 1 June 2023
13,765
Charge for the year
1,912
--------
At 31 May 2024
15,677
--------
Carrying amount
At 31 May 2024
7,648
--------
At 31 May 2023
9,560
--------
6. Debtors
2024
2023
£
£
Trade debtors
149,000
539,717
Other debtors
633,767
65,218
---------
---------
782,767
604,935
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
19,164
Trade creditors
229,915
224,585
Social security and other taxes
2,351
3,319
Other creditors
924,385
643,953
------------
---------
1,156,651
891,021
------------
---------
8. Related party transactions
The company was under the control of Mr J. Cohen throughout the current and previous year. Mr J. Cohen is the managing director.
9. Controlling party
The company is a wholly owned subsidiary of Victoria Warehouse Group Limited, a company incorporated in the United Kingdom.