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REGISTERED NUMBER: 13009343 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

AXCEL HOSPITALITY (BOURNEMOUTH) LIMITED

AXCEL HOSPITALITY (BOURNEMOUTH) LIMITED (REGISTERED NUMBER: 13009343)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AXCEL HOSPITALITY (BOURNEMOUTH) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Sunil Patel
Shamir Patel





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





REGISTERED NUMBER: 13009343 (England and Wales)






AXCEL HOSPITALITY (BOURNEMOUTH) LIMITED (REGISTERED NUMBER: 13009343)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,100,000 2,100,000

CURRENT ASSETS
Stocks 5 1,906 2,894
Debtors 6 235,492 315,971
Cash at bank and in hand 1,735,186 2,211,436
1,972,584 2,530,301
CREDITORS
Amounts falling due within one year 7 (475,819 ) (1,520,494 )
NET CURRENT ASSETS 1,496,765 1,009,807
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,596,765

3,109,807

CREDITORS
Amounts falling due after more than one year 8 (1,029,504 ) (865,796 )

PROVISIONS FOR LIABILITIES 10 (332,848 ) (381,618 )
NET ASSETS 2,234,413 1,862,393

CAPITAL AND RESERVES
Called up share capital 11 100 100
Revaluation reserve 12 998,548 1,144,854
Retained earnings 12 1,235,765 717,439
SHAREHOLDERS' FUNDS 2,234,413 1,862,393

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

AXCEL HOSPITALITY (BOURNEMOUTH) LIMITED (REGISTERED NUMBER: 13009343)

BALANCE SHEET - continued
31ST DECEMBER 2023


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 Board of Directors and authorised for issue on 25th September 2024 and were signed on its behalf by:





Shamir Patel - Director


AXCEL HOSPITALITY (BOURNEMOUTH) LIMITED (REGISTERED NUMBER: 13009343)

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

1. STATUTORY INFORMATION

Axcel Hospitality (Bournemouth) 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 (£).


The principal place of business is 34 Derby Road, Bournemouth, BH1 3QE.

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 as modified by the revaluation of certain assets.

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
Freehold property includes a freehold hotel which is carried at its revalued amount, being fair value at the date of valuation and impairment losses. Revaluations are performed by professional qualified valuers with sufficient regularity to ensure that the carrying amounts do not differ materially from those that would be determined using fair values at the end of each reporting period.

Any revaluation increase in the carrying amount of land and buildings is recognised in other comprehensive income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss, in which case the increase is credited to profit and loss to the extent of the decrease previously expended.

Decreases that offset previous increases of the same asset are charged in other comprehensive income and debited against revaluation reserve in equity; decreases exceeding the balance in revaluation reserve relating to an asset are recognised in profit or loss. The use of a policy of revaluation provided more relevant and reliable information about the value of the property owned by the company.

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.


AXCEL HOSPITALITY (BOURNEMOUTH) LIMITED (REGISTERED NUMBER: 13009343)

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

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 21 ) .

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST OR VALUATION
At 1st January 2023 2,100,000
Additions 195,076
Revaluations (195,076 )
At 31st December 2023 2,100,000
NET BOOK VALUE
At 31st December 2023 2,100,000
At 31st December 2022 2,100,000

Cost or valuation at 31st December 2023 is represented by:

Freehold
property
£   
Valuation in 2023 1,331,396
Cost 768,604
2,100,000

AXCEL HOSPITALITY (BOURNEMOUTH) LIMITED (REGISTERED NUMBER: 13009343)

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

4. TANGIBLE FIXED ASSETS - continued

If Freehold land and building had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 768,604 573,528

Freehold land and buildings were valued on an open market basis on 31st December 2023 by Shamir Patel, Director .

5. STOCKS
2023 2022
£    £   
Stocks 1,906 2,894

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 202,000 160,996
Other debtors and prepayments 33,492 154,975
235,492 315,971

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 2,439 1,728
Trade creditors 296,075 226,419
Tax 99,413 168,331
VAT 5,601 15,131
Other creditors and accruals 72,291 53,125
Accruals and deferred income - 1,055,760
475,819 1,520,494

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 173,383 -
Director's loan 856,121 865,796
1,029,504 865,796

AXCEL HOSPITALITY (BOURNEMOUTH) LIMITED (REGISTERED NUMBER: 13009343)

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

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 2,439 1,728

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 332,848 381,618

Deferred
tax
£   
Balance at 1st January 2023 381,618
Provided during year (48,770 )
Balance at 31st December 2023 332,848

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1st January 2023 717,439 1,144,854 1,862,293
Profit for the year 518,326 518,326
Revaluation - (195,076 ) (195,076 )
Deferred tax provision - 48,770 48,770
At 31st December 2023 1,235,765 998,548 2,234,313