Company registration number 11962844 (England and Wales)
HERMITAGE HOTELS AND RESORTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
HERMITAGE HOTELS AND RESORTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HERMITAGE HOTELS AND RESORTS LIMITED (REGISTERED NUMBER: 11962844)
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,804,151
3,391,125
Current assets
Debtors
4
215,083
275,149
Creditors: amounts falling due within one year
5
(773,776)
(421,141)
Net current liabilities
(558,693)
(145,992)
Net assets
3,245,458
3,245,133
Capital and reserves
Called up share capital
100
100
Share premium account
3,199,925
3,199,925
Profit and loss reserves
45,433
45,108
Total equity
3,245,458
3,245,133
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 27 January 2025 and are signed on its behalf by:
J Herbert
Director
HERMITAGE HOTELS AND RESORTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information
Hermitage Hotels and Resorts Limited is a private company limited by shares incorporated in England and Wales. The registered office is , 7 Howick Place, London, SW1P 1BB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services rendered in the normal course of business, and is shown net of VAT and other sales related taxes.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
No depreciation
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
HERMITAGE HOTELS AND RESORTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 May 2023
3,391,125
Additions
413,026
At 30 April 2024
3,804,151
Depreciation and impairment
At 1 May 2023 and 30 April 2024
Carrying amount
At 30 April 2024
3,804,151
At 30 April 2023
3,391,125
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
138,237
86,749
Other debtors
76,846
188,400
215,083
275,149
HERMITAGE HOTELS AND RESORTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
30,000
3,390
Taxation and social security
77
10,626
Other creditors
743,699
407,125
773,776
421,141
6
Related party transactions
Included within other creditors is a balance of £331,444 (2023 debtor balance of £188,375) owed to a company with common directors. During the year, the company charged rent amounting to £34,704 (2023: £86,749) to the company with common directors.
During the year, management charges were incurred from a company with common directors and amount to £30,000 (2023: £25,000). Included within other creditors is a balance of £30,000 (2023: £Nil) owed to the company with common directors.
Included within other creditors is a directors loan account amounting to £379,500 (2023: £379,500).