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REGISTERED NUMBER: 10971095 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

AXCEL HOSPITALITY (MANAGEMENT) LIMITED

AXCEL HOSPITALITY (MANAGEMENT) LIMITED (REGISTERED NUMBER: 10971095)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AXCEL HOSPITALITY (MANAGEMENT) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTOR: A K Singh





REGISTERED OFFICE: 2nd Floor
29 Dingwall Road
Croydon
Surrey
CR0 2NB





REGISTERED NUMBER: 10971095 (England and Wales)





AUDITORS: Xeinadin Auditing
Beckett House
36 Old Jewry
LONDON
EC2R 8DD

AXCEL HOSPITALITY (MANAGEMENT) LIMITED (REGISTERED NUMBER: 10971095)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 519 692

CURRENT ASSETS
Debtors 5 2,481 21,385
Cash at bank 36,410 28,697
38,891 50,082
CREDITORS
Amounts falling due within one year 6 (63,976 ) (80,512 )
NET CURRENT LIABILITIES (25,085 ) (30,430 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(24,566

)

(29,738

)

PROVISIONS FOR LIABILITIES (130 ) (173 )
NET LIABILITIES (24,696 ) (29,911 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (24,796 ) (30,011 )
(24,696 ) (29,911 )

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 director and authorised for issue on 26th September 2024 and were signed by:





A K Singh - Director


AXCEL HOSPITALITY (MANAGEMENT) LIMITED (REGISTERED NUMBER: 10971095)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Axcel Hospitality (Management) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures fittings & equipment - 25% on reducing balance

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.

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.

Going concern
The company is reliant on the continued support of its shareholder and directors to continue trading. On this basis the financial statements have been prepared on a going concern basis.The financial statements do not include any adjustments that may be required from a withdrawal of such financial support.

AXCEL HOSPITALITY (MANAGEMENT) LIMITED (REGISTERED NUMBER: 10971095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
fittings
& equipment
£   
COST
At 1st January 2023
and 31st December 2023 1,938
DEPRECIATION
At 1st January 2023 1,246
Charge for year 173
At 31st December 2023 1,419
NET BOOK VALUE
At 31st December 2023 519
At 31st December 2022 692

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,481 21,385

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 425
Trade creditors 11,130 16,105
Amounts owed to group undertakings 18,064 18,202
Taxation and social security 31,157 18,680
Other creditors 3,625 27,100
63,976 80,512

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Davies FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Auditing

AXCEL HOSPITALITY (MANAGEMENT) LIMITED (REGISTERED NUMBER: 10971095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are the directors Sunil Patel and Shamir Patel by virtue of having ownership of 100% of the issued ordinary share capital in the parent company Axcel Group Limited.