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REGISTERED NUMBER: 12348688 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

TUFNELL PARK HOTELS LIMITED

TUFNELL PARK HOTELS LIMITED (REGISTERED NUMBER: 12348688)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TUFNELL PARK HOTELS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: M Jakisic
I J Hussain





REGISTERED OFFICE: Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA





REGISTERED NUMBER: 12348688 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

TUFNELL PARK HOTELS LIMITED (REGISTERED NUMBER: 12348688)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,211,765 2,204,943

CURRENT ASSETS
Debtors 5 65,967 47,830
Cash at bank 23,398 112,972
89,365 160,802
CREDITORS
Amounts falling due within one year 6 1,242,835 1,271,917
NET CURRENT LIABILITIES (1,153,470 ) (1,111,115 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,058,295

1,093,828

CREDITORS
Amounts falling due after more than one
year

7

(1,175,000

)

(1,147,066

)

PROVISIONS FOR LIABILITIES (19,230 ) (19,230 )
NET LIABILITIES (135,935 ) (72,468 )

CAPITAL AND RESERVES
Called up and paid share capital 100 100
Revaluation reserve 57,688 57,688
Retained earnings (193,723 ) (130,256 )
(135,935 ) (72,468 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

TUFNELL PARK HOTELS LIMITED (REGISTERED NUMBER: 12348688)

BALANCE SHEET - continued
31 OCTOBER 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 19 November 2024 and were signed on its behalf by:





I J Hussain - Director


TUFNELL PARK HOTELS LIMITED (REGISTERED NUMBER: 12348688)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Tufnell Park Hotels 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 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
Tangible fixed assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses unless stated otherwise.

The land and buildings class of assets are initially recorded at cost and subsequently at fair value, with fair value gains or losses being recognised in other comprehensive income. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Plant and machinery etc - 33% on cost and 20% on cost

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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.


TUFNELL PARK HOTELS LIMITED (REGISTERED NUMBER: 12348688)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 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.

Going concern
The financial statements have been prepared on the going concern basis, on the understanding that the company will receive continued support from the directors and creditors for a period of at least 12 months from the date of these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 November 2022 2,200,000 5,601 7,011 2,212,612
Additions - 10,976 1,442 12,418
At 31 October 2023 2,200,000 16,577 8,453 2,225,030
DEPRECIATION
At 1 November 2022 - 2,458 5,211 7,669
Charge for year - 3,315 2,281 5,596
At 31 October 2023 - 5,773 7,492 13,265
NET BOOK VALUE
At 31 October 2023 2,200,000 10,804 961 2,211,765
At 31 October 2022 2,200,000 3,143 1,800 2,204,943

TUFNELL PARK HOTELS LIMITED (REGISTERED NUMBER: 12348688)

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


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 October 2023 is represented by:

Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
Valuation in 2022 2,200,000 16,577 8,453 2,225,030

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors - 36,527
Other debtors 2,075 10,970
Prepayments 1,368 333
3,443 47,830

Amounts falling due after more than one year:
Other debtors 62,524 -

Aggregate amounts 65,967 47,830

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 950 1,051
VAT 77,805 94,382
Other creditors 968,478 977,940
Directors' current accounts 193,168 196,588
Accruals and deferred income 2,434 1,956
1,242,835 1,271,917

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 1,175,000 1,147,066

8. SECURED DEBTS

The loan is secured by way of a fixed and floating charge on the property.

TUFNELL PARK HOTELS LIMITED (REGISTERED NUMBER: 12348688)

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


9. RELATED PARTY DISCLOSURES

Included in other debtors are amounts owing of £2,075 (2022 - £10,754) by companies under the control of the directors.

Included in other creditors are amounts owing of £968,478 (2022 - £977,940) from companies under the control of the directors.

These loans are interest free and repayable on demand.