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Company registration number: 13241548
St. Pancras Hospitality Limited
Unaudited filleted financial statements
31 March 2024
St. Pancras Hospitality Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
St. Pancras Hospitality Limited
Directors and other information
Directors Mrs K Millie-James (Resigned 31 August 2024)
Mr A K Rokni (Appointed 31 August 2024)
Secretary KHCS Secretaries Limited
Company number 13241548
Registered office Unit2 Capital Business Park
Manor Way
Borehamwood
Hertfordshire
WD6 1GW
St. Pancras Hospitality Limited
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 8,600,000 6,000,000
_______ _______
8,600,000 6,000,000
Current assets
Debtors 5 1 20,136
Cash at bank and in hand 294,750 379,202
_______ _______
294,751 399,338
Creditors: amounts falling due
within one year 6 ( 14,614) ( 1,000)
_______ _______
Net current assets 280,137 398,338
_______ _______
Total assets less current liabilities 8,880,137 6,398,338
Creditors: amounts falling due
after more than one year 7 ( 6,165,487) ( 5,244,727)
_______ _______
Net assets 2,714,650 1,153,611
_______ _______
Capital and reserves
Called up share capital 1 1
Revaluation reserve 5,086,000 2,486,000
Profit and loss account ( 2,371,351) ( 1,332,390)
_______ _______
Shareholders funds 2,714,650 1,153,611
_______ _______
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 December 2024 , and are signed on behalf of the board by:
Mr A K Rokni
Director
Company registration number: 13241548
St. Pancras Hospitality Limited
Statement of changes in equity
Year ended 31 March 2024
Called up share capital Revaluation reserve Profit and loss account Total
£ £ £ £
At 3 March 2021 (as previously reported) 1 - ( 185,134) ( 185,133)
Prior period adjustments (-) 2,486,000 (-) 2,486,000
_______ _______ _______ _______
At 3 March 2021 (restated) 1 2,486,000 ( 185,134) 2,300,867
Loss for the year ( 1,147,256) ( 1,147,256)
_______ _______ _______ _______
Total comprehensive income for the year - - ( 1,147,256) ( 1,147,256)
At 31 March 2023 (as previously reported) 1 2,486,000 ( 1,332,390) 1,153,611
Prior period adjustments (-) 2,600,000 (-) 2,600,000
_______ _______ _______ _______
At 31 March 2023 (restated) and 1 April 2023 1 5,086,000 ( 1,332,390) 3,753,611
Loss for the year ( 1,038,961) ( 1,038,961)
_______ _______ _______ _______
Total comprehensive income for the year - - ( 1,038,961) ( 1,038,961)
_______ _______ _______ _______
At 31 March 2024 1 5,086,000 ( 2,371,351) 2,714,650
_______ _______ _______ _______
St. Pancras Hospitality Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit2 Capital Business Park, Manor Way, Borehamwood, Hertfordshire, WD6 1GW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Tangible assets
Freehold property Total
£ £
Cost or valuation
At 1 April 2023 6,000,000 6,000,000
Revaluation 2,600,000 2,600,000
_______ _______
At 31 March 2024 8,600,000 8,600,000
_______ _______
Depreciation
At 1 April 2023 and 31 March 2024 - -
_______ _______
Carrying amount
At 31 March 2024 8,600,000 8,600,000
_______ _______
At 31 March 2023 6,000,000 6,000,000
_______ _______
5. Debtors
2024 2023
£ £
Other debtors 1 20,136
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Social security and other taxes 12,614 -
Other creditors 2,000 1,000
_______ _______
14,614 1,000
_______ _______
7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 2,477,202 2,477,202
Other creditors 3,688,285 2,767,525
_______ _______
6,165,487 5,244,727
_______ _______
8. Directors advances, credits and guarantees
Balance brought forward and o/standing Balance brought forward and o/standing
2024 2023
£ £
Mrs K Millie-James 1 1
_______ _______