REGISTERED NUMBER: 09925821 (England and Wales) |
Report of the Director and |
Unaudited Consolidated Financial Statements for the Year Ended 30 June 2024 |
for |
Ace hotels ( london) limited |
REGISTERED NUMBER: 09925821 (England and Wales) |
Report of the Director and |
Unaudited Consolidated Financial Statements for the Year Ended 30 June 2024 |
for |
Ace hotels ( london) limited |
Ace hotels ( london) limited (Registered number: 09925821) |
Contents of the Consolidated Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Report of the Director | 2 |
Consolidated Income Statement | 3 |
Consolidated Balance Sheet | 4 |
Company Balance Sheet | 6 |
Notes to the Consolidated Financial Statements | 8 |
Ace hotels ( london) limited |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Ace hotels ( london) limited (Registered number: 09925821) |
Report of the Director |
for the Year Ended 30 June 2024 |
The director presents her report with the financial statements of the company and the group for the year ended 30 June 2024. |
DIRECTOR |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Ace hotels ( london) limited (Registered number: 09925821) |
Consolidated Income Statement |
for the Year Ended 30 June 2024 |
2024 | 2023 |
As restated |
Notes | £ | £ |
TURNOVER | 684,662 | 939,399 |
Cost of sales | 11,994 | 14,326 |
GROSS PROFIT | 672,668 | 925,073 |
Administrative expenses | 401,987 | 736,842 |
270,681 | 188,231 |
Other operating income | - | 37,320 |
OPERATING PROFIT | 4 | 270,681 | 225,551 |
Interest payable and similar expenses | - | 40,015 |
PROFIT BEFORE TAXATION | 270,681 | 185,536 |
Tax on profit | 55,947 | 30,316 |
PROFIT FOR THE FINANCIAL YEAR |
Profit attributable to: |
Owners of the parent | 214,734 | 155,220 |
Ace hotels ( london) limited (Registered number: 09925821) |
Consolidated Balance Sheet |
30 June 2024 |
2024 | 2023 |
As restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 | 5,338,563 | 5,347,617 |
CURRENT ASSETS |
Stocks | 1,300 | 1,000 |
Debtors | 7 | 856,463 | 1,276,149 |
Cash at bank and in hand | 1,998 | 352 |
859,761 | 1,277,501 |
CREDITORS |
Amounts falling due within one year | 8 | 367,186 | 1,135,291 |
NET CURRENT ASSETS | 492,575 | 142,210 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
5,831,138 |
5,489,827 |
CREDITORS |
Amounts falling due after more than one year |
9 |
1,823,180 |
1,231,088 |
NET ASSETS | 4,007,958 | 4,258,739 |
Ace hotels ( london) limited (Registered number: 09925821) |
Consolidated Balance Sheet - continued |
30 June 2024 |
2024 | 2023 |
As restated |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 3 | 101 |
Share premium | 3,883,600 | 3,883,600 |
Retained earnings | 124,355 | 375,038 |
4,007,958 | 4,258,739 |
The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024. |
The members have not required the company and the group to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006. |
The director acknowledges her responsibilities for: |
(a) | ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group. |
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
The financial statements were approved by the director and authorised for issue on 31 January 2025 and were signed by: |
Mrs Shamila Tahir - Director |
Ace hotels ( london) limited (Registered number: 09925821) |
Company Balance Sheet |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
CURRENT ASSETS |
Debtors | 7 |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET ASSETS |
Ace hotels ( london) limited (Registered number: 09925821) |
Company Balance Sheet - continued |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
Company's (loss)/profit for the financial year |
(9,054 |
) |
83,890 |
The director acknowledges her 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. |
The financial statements were approved by the director and authorised for issue on |
Ace hotels ( london) limited (Registered number: 09925821) |
Notes to the Consolidated Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Ace hotels ( london) limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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 Consolidated 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. |
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. |
Ace hotels ( london) limited (Registered number: 09925821) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The group operates a defined contribution pension scheme. Contributions payable to the group'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 NIL (2023 - NIL). |
The average number of employees by undertakings that were proportionately consolidated during the year was XXX. |
**PLEASE COMPLETE CLIENT SCREEN WITH DETAILS |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
2024 | 2023 |
As restated |
£ | £ |
Depreciation - owned assets | 9,054 | 7,203 |
5. | INDIVIDUAL INCOME STATEMENT |
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
Ace hotels ( london) limited (Registered number: 09925821) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 June 2024 |
6. | TANGIBLE FIXED ASSETS |
Group |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 July 2023 |
and 30 June 2024 | 5,300,000 | 93,852 | 5,393,852 |
DEPRECIATION |
At 1 July 2023 | - | 46,235 | 46,235 |
Charge for year | 9,054 | - | 9,054 |
At 30 June 2024 | 9,054 | 46,235 | 55,289 |
NET BOOK VALUE |
At 30 June 2024 | 5,290,946 | 47,617 | 5,338,563 |
At 30 June 2023 | 5,300,000 | 47,617 | 5,347,617 |
Company |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 July 2023 |
and 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
Ace hotels ( london) limited (Registered number: 09925821) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 June 2024 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2024 | 2023 | 2024 | 2023 |
As restated |
£ | £ | £ | £ |
Trade debtors | - | (1 | ) | ( |
) |
Amounts owed by group undertakings | - | 370,059 |
Other debtors | 856,463 | 906,091 |
856,463 | 1,276,149 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2024 | 2023 | 2024 | 2023 |
As restated |
£ | £ | £ | £ |
Bank loans and overdrafts | 272,939 | 668,836 |
Trade creditors | 8,200 | 3,700 |
Amounts owed to group undertakings | - | - |
Taxation and social security | 86,047 | 90,696 |
Other creditors | - | 372,059 |
367,186 | 1,135,291 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
Group | Company |
2024 | 2023 | 2024 | 2023 |
As restated |
£ | £ | £ | £ |
Bank loans | 1,823,180 | 1,231,088 |