Acorah Software Products - Accounts Production 16.1.300 false true true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 04124805 Mr Christodoulos Charalambous Mr Dean Charalambous Gables Hotel Holdings Limited Office 27, Dalgety Bay Business Centre Ridge Way, Dalgety Bay, Dunfermline, Scotland, KY11 9JN true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04124805 2023-04-30 04124805 2024-04-30 04124805 2023-05-01 2024-04-30 04124805 frs-core:CurrentFinancialInstruments 2024-04-30 04124805 frs-core:Non-currentFinancialInstruments 2024-04-30 04124805 frs-core:ComputerEquipment 2024-04-30 04124805 frs-core:ComputerEquipment 2023-05-01 2024-04-30 04124805 frs-core:ComputerEquipment 2023-04-30 04124805 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-01 2024-04-30 04124805 frs-core:FurnitureFittings 2023-05-01 2024-04-30 04124805 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-04-30 04124805 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04124805 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-30 04124805 frs-core:OtherResidualIntangibleAssets 2024-04-30 04124805 frs-core:OtherResidualIntangibleAssets 2023-05-01 2024-04-30 04124805 frs-core:OtherResidualIntangibleAssets 2023-04-30 04124805 frs-core:PlantMachinery 2024-04-30 04124805 frs-core:PlantMachinery 2023-05-01 2024-04-30 04124805 frs-core:PlantMachinery 2023-04-30 04124805 frs-core:CapitalRedemptionReserve 2024-04-30 04124805 frs-core:RevaluationReserve 2023-05-01 2024-04-30 04124805 frs-core:RevaluationReserve 2023-04-30 04124805 frs-core:RevaluationReserve 2024-04-30 04124805 frs-core:SharePremium 2024-04-30 04124805 frs-core:ShareCapital 2024-04-30 04124805 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 04124805 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04124805 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 04124805 frs-bus:SmallEntities 2023-05-01 2024-04-30 04124805 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 04124805 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 04124805 1 2023-05-01 2024-04-30 04124805 frs-bus:Director1 2023-05-01 2024-04-30 04124805 frs-bus:Director2 2023-05-01 2024-04-30 04124805 frs-countries:EnglandWales 2023-05-01 2024-04-30 04124805 2022-04-30 04124805 2023-04-30 04124805 2022-05-01 2023-04-30 04124805 frs-core:CurrentFinancialInstruments 2023-04-30 04124805 frs-core:Non-currentFinancialInstruments 2023-04-30 04124805 frs-core:CapitalRedemptionReserve 2023-04-30 04124805 frs-core:RevaluationReserve 2023-04-30 04124805 frs-core:SharePremium 2023-04-30 04124805 frs-core:ShareCapital 2023-04-30 04124805 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 04124805
Lonsdale Hotels Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
NSB Chartered Certified Accountants
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—8
Page 1
Company Information
Directors Mr Christodoulos Charalambous
Mr Dean Charalambous
Company Number 04124805
Registered Office 71-75 Shelton Street
Covent Garden
London
WC2H 9JQ
Accountants NSB Chartered Certified Accountants
39 Hunter Grove
Bathgate
West Lothian
EH48 1NN
Page 1
Page 2
Balance Sheet
Registered number: 04124805
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 372 434
Tangible Assets 5 999,628 975,782
1,000,000 976,216
CURRENT ASSETS
Stocks 6 8,501 9,946
Debtors 7 53,272 37,016
Cash at bank and in hand 12,412 15,380
74,185 62,342
Creditors: Amounts Falling Due Within One Year 8 (265,442 ) (204,450 )
NET CURRENT ASSETS (LIABILITIES) (191,257 ) (142,108 )
TOTAL ASSETS LESS CURRENT LIABILITIES 808,743 834,108
Creditors: Amounts Falling Due After More Than One Year 9 (826,722 ) (759,248 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,321 ) (11,329 )
NET (LIABILITIES)/ASSETS (27,300 ) 63,531
CAPITAL AND RESERVES
Called up share capital 10 40,000 40,000
Share premium account 10,000 10,000
Revaluation reserve 11 144,279 112,208
Capital redemption reserve 200,000 200,000
Profit and Loss Account (421,579 ) (298,677 )
SHAREHOLDERS' FUNDS (27,300) 63,531
Page 2
Page 3
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Christodoulos Charalambous
Director
9 January 2025
The notes on pages 4 to 8 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Lonsdale Hotels Limited is a private Company, limited by shares, incorporated in England & Wales: registration number 04124805 . The registered office address is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
2.2. Going Concern Disclosure
At 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. The directors have considered a period of 12 months from the date of approval of the financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Significant judgements and estimations
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affect is only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2.4. Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Sale of goods
Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
  • the Company has transferred the significant risks and rewards of ownership to the buyer;
  • the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
  • the amount of turnover can be measured reliably;
  • it is probable that the Company will receive the consideration due under the transaction; and
  • the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
  • the amount of turnover can be measured reliably;
  • it is probable that the Company will receive the consideration due under the contract;
  • the stage of completion of the contract at the end of the reporting period can be measured reliably; and
  • the costs incurred and the costs to complete the contract can be measured reliably.
2.5. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Page 4
Page 5
2.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the profit and loss account.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. Depreciation is provided on the following basis:
Freehold Not depreciated
Plant & Machinery 15% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 10% reducing balance
2.7. Leasing and Hire Purchase Contracts
Operating leases: the Company as lessee
Rentals paid under operating leases are charged to the profit and loss account on a straight-line basis over the lease term.
2.8. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the profit and loss account.
2.9. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
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.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Page 5
Page 6
2.10. Taxation
Current taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred taxation
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
  • the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
  • any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
2.11. Pensions
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
3. Average Number of Employees
The average number of employees, including directors, during the year was as follows: 22 (2023: 23)
22 23
4. Intangible Assets
Other
£
Cost
As at 1 May 2023 620
As at 30 April 2024 620
Amortisation
As at 1 May 2023 186
Provided during the period 62
As at 30 April 2024 248
Net Book Value
As at 30 April 2024 372
As at 1 May 2023 434
Page 6
Page 7
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Computer Equipment Total
£ £ £ £
Cost or Valuation
As at 1 May 2023 1,210,240 379,070 27,237 1,616,547
Additions - 3,228 - 3,228
Revaluation 32,071 - - 32,071
As at 30 April 2024 1,242,311 382,298 27,237 1,651,846
Depreciation
As at 1 May 2023 310,240 308,016 22,509 640,765
Provided during the period - 10,979 474 11,453
As at 30 April 2024 310,240 318,995 22,983 652,218
Net Book Value
As at 30 April 2024 932,071 63,303 4,254 999,628
As at 1 May 2023 900,000 71,054 4,728 975,782
6. Stocks
2024 2023
£ £
Stock 8,501 9,946
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,601 6,063
Other debtors 49,671 30,953
53,272 37,016
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 108,991 79,655
Other creditors 65,485 67,053
Taxation and social security 90,966 57,742
265,442 204,450
Page 7
Page 8
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 592,731 599,798
Amounts owed to participating interests 233,991 159,450
826,722 759,248
The bank loans are secured by fixed and floating charges over the assets of the company.
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 40,000 40,000
11. Reserves
Revaluation Reserve
£
As at 1 May 2023 112,208
Surplus on revaluation 32,071
As at 30 April 2024 144,279
12. Related Party Transactions
Included within "amounts owed to participating interests" is an amount due to the parent company, Gables Hotel Holdings Limited, of £139,429 (2023 - £139,450). This loan is interest free with no fixed terms of repayment.
Included within "amounts owed to participating interests" is an amount of £36,950 (2023 - £nil) due to Amity Hospitality Limited, a company in which the director, Mr Christodoulos Charalambous, is also a director and shareholder. This loan is interest free with no fixed terms of repayment.
Included within "amounts owed to participating interests" is an amount of £57,612 (2023 - £20,000) due to Artemis Hotels Management Limited, a company in which the director, Mr Christodoulos Charalambous, is also a director and shareholder. This loan is interest free with no fixed terms of repayment.
13. Ultimate Parent Undertaking and Controlling Party
The ultimate controlling party of Lonsdale Hotels Limited is Gables Hotel Holdings Limited who owns 100% of the shares.
Gables Hotel Holdings Limited is a company registered in Scotland, registration number SC701025.
The registered office and principal place of business of Gables Hotel Holdings Limited is Office 27, Dalgety Bay Business Centre Ridge Way, Dalgety Bay, Dunfermline, Scotland, KY11 9JN .
Page 8