REGISTERED NUMBER: |
Financial Statements for the Period 1 January 2023 to 31 March 2024 |
for |
AZURE LUXURY HOTEL COLLECTION LIMITED |
REGISTERED NUMBER: |
Financial Statements for the Period 1 January 2023 to 31 March 2024 |
for |
AZURE LUXURY HOTEL COLLECTION LIMITED |
AZURE LUXURY HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 04343743) |
Contents of the Financial Statements |
for the period 1 January 2023 to 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
AZURE LUXURY HOTEL COLLECTION LIMITED |
Company Information |
for the period 1 January 2023 to 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditor |
11 Laura Place |
Bath |
BA2 4BL |
AZURE LUXURY HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 04343743) |
Balance Sheet |
31 March 2024 |
2024 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Share premium |
Revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
AZURE LUXURY HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 04343743) |
Notes to the Financial Statements |
for the period 1 January 2023 to 31 March 2024 |
1. | STATUTORY INFORMATION |
Azure Luxury Hotel Collection 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. |
Turnover is recognised at the point that non refundable income is received, being the deposit at the point of booking, and the remaining value up to eight weeks before the departure date. |
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. |
Tangible fixed assets |
Freehold property | - |
Fixtures and fittings | - |
Freehold Property |
Freehold property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the revaluation reserve. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss. |
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract. |
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date. |
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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. |
AZURE LUXURY HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 04343743) |
Notes to the Financial Statements - continued |
for the period 1 January 2023 to 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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 period 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. |
Foreign currencies |
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2023 |
and 31 March 2024 |
AMORTISATION |
At 1 January 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 December 2022 |
AZURE LUXURY HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 04343743) |
Notes to the Financial Statements - continued |
for the period 1 January 2023 to 31 March 2024 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 January 2023 |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 December 2022 |
The freehold property was revalued in 2022 by the Director, on an open market basis. The Director is satisfied that the valuation still reflects the current market value. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
The loan balances are secured over the freehold property. Included in loans are government backed CBILS loans totalling £90,225. |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2022 |
£ | £ |
Bank loans |
The loan balances are secured over the freehold property. Included in loans are government backed CBILS loans totalling £148,912. |
AZURE LUXURY HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 04343743) |
Notes to the Financial Statements - continued |
for the period 1 January 2023 to 31 March 2024 |
9. | PROVISIONS FOR LIABILITIES |
2024 | 2022 |
£ | £ |
Deferred tax | 41,459 | 43,028 |
Deferred |
tax |
£ |
Balance at 1 January 2023 |
Accelerated capital allowances | (1,569 | ) |
Reval. of freehold property |
Balance at 31 March 2024 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2022 |
value: | £ | £ |
Ordinary A | £0.01 | 100 | 100 |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
Richardson Swift Audit Limited |
12. | OTHER FINANCIAL COMMITMENTS |
At the year end the company had total commitments to future payments under operating leases of £27,605 (2022 - £61,121). |
13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
Included in debtors is £10,973 owed by a director. |
14. | PARENT COMPANY |
The parent company is ALHC (Holdings) Ltd, registered office 11 Laura Place, Bath, BA2 4BL. |
15. | SIGNIFICANT ESTIMATES AND JUDGEMENTS |
The directors believe that the value of the freehold property in the accounts represents market value. |
No other significant judgements or key assumptions have had to be made by the directors in preparing these financial statements. |