REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st January 2024 |
for |
BUCKINGHAM HOTELS GROUP LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st January 2024 |
for |
BUCKINGHAM HOTELS GROUP LIMITED |
BUCKINGHAM HOTELS GROUP LIMITED (REGISTERED NUMBER: 05012013) |
Contents of the Financial Statements |
for the Year Ended 31st January 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BUCKINGHAM HOTELS GROUP LIMITED |
Company Information |
for the Year Ended 31st January 2024 |
Director: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
1 Kille House |
Chinnor Road |
Thame |
Oxfordshire |
OX9 3NU |
BUCKINGHAM HOTELS GROUP LIMITED (REGISTERED NUMBER: 05012013) |
Balance Sheet |
31st January 2024 |
2023 | 2024 |
£ | £ | Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
( |
) |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) | PROVISIONS FOR LIABILITIES | 11 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 12 |
Retained earnings | 12 |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
BUCKINGHAM HOTELS GROUP LIMITED (REGISTERED NUMBER: 05012013) |
Balance Sheet - continued |
31st January 2024 |
The financial statements were approved by the director and authorised for issue on |
BUCKINGHAM HOTELS GROUP LIMITED (REGISTERED NUMBER: 05012013) |
Notes to the Financial Statements |
for the Year Ended 31st January 2024 |
1. | STATUTORY INFORMATION |
Buckingham Hotels Group Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
BUCKINGHAM HOTELS GROUP LIMITED (REGISTERED NUMBER: 05012013) |
Notes to the Financial Statements - continued |
for the Year Ended 31st January 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and |
Totals | property | fittings |
£ | £ | £ |
Cost |
At 1st February 2023 |
Additions |
At 31st January 2024 |
Depreciation |
At 1st February 2023 |
Charge for year |
At 31st January 2024 |
Net book value |
At 31st January 2024 |
At 31st January 2023 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
Cost |
At 1st February 2023 |
Additions |
At 31st January 2024 |
Net book value |
At 31st January 2024 |
At 31st January 2023 |
6. | STOCKS |
2024 | 2023 |
£ | £ |
Stocks |
BUCKINGHAM HOTELS GROUP LIMITED (REGISTERED NUMBER: 05012013) |
Notes to the Financial Statements - continued |
for the Year Ended 31st January 2024 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts owed by associates |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Amounts owed to associates | 1,519,062 | 1,861,342 |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 2,040,000 | 2,040,000 |
Other loans more 5yrs instal | - | 9,164 |
2,040,000 | 2,049,164 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The Bank have a mortgage which is secured by a specific charge over the freehold property of the company |
BUCKINGHAM HOTELS GROUP LIMITED (REGISTERED NUMBER: 05012013) |
Notes to the Financial Statements - continued |
for the Year Ended 31st January 2024 |
11. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Capital gains tax provision re |
property revaluation | 698,216 | 698,216 |
816,917 | 806,377 |
Deferred |
tax |
£ |
Balance at 1st February 2023 |
Provided during year |
Revaluation reserve |
Balance at 31st January 2024 |
12. | RESERVES |
Retained | Revaluation |
Totals | earnings | reserve |
£ | £ | £ |
At 1st February 2023 | 8,844,429 |
Profit for the year | - |
Dividends | ( |
) | ( |
) | - |
At 31st January 2024 | 13,393,775 |
13. | RELATED PARTY DISCLOSURES |
The company has the following associates by virtue of common shareholdings:- |
Buckingham Hotel Limited |
Buckingham Laundry Limited |
Dad Homes Limited |
Hillview Road Developments Limited |
Jennys Fashions Limited |
Sheraton Dwellings Limited |
Streamdown Properties Ltd |
Wendover Hotel Limited |
Zahrah Homes Limited |
Buckingham Hotel Limited, Jennys Fashions Limited, Buckingham Laundry Limited and Sheraton Dwellings Limited own certain freehold property used by Buckingham Hotels Group Limited. A rent is paid for the use of these properties at a commercial market rent. |
There was no other trading between the companies but amounts were paid for or by the associated companies and Buckingham Hotels Group Limited and the respective loan accounts between the companies are reflected in debtors or creditors due within one year as appropriate. |
14. | ULTIMATE CONTROLLING PARTY |
The controlling party is S Dad. |