IRIS Accounts Production v24.3.0.553 09925821 director 30.6.24 1.7.23 30.6.24 30.6.24 The principal activity of the company is to own hotel building, which operates as a bed and breakfast that generates income from charging set rate per guest. 0 0 true false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh099258212023-06-30099258212024-06-30099258212023-07-012024-06-30099258212022-06-30099258212022-07-012023-06-30099258212023-06-3009925821ns15:EnglandWales2023-07-012024-06-3009925821ns14:PoundSterling2023-07-012024-06-3009925821ns10:Director12023-07-012024-06-3009925821ns10:Consolidated2024-06-3009925821ns10:ConsolidatedGroupCompanyAccounts2023-07-012024-06-3009925821ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3009925821ns10:Consolidatedns10:SmallEntities2023-07-012024-06-3009925821ns10:Consolidatedns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3009925821ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3009925821ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3009925821ns10:Consolidatedns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3009925821ns10:Consolidatedns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3009925821ns10:FullAccounts2023-07-012024-06-3009925821ns10:Consolidated2023-07-012024-06-3009925821ns10:CompanySecretary12023-07-012024-06-3009925821ns10:RegisteredOffice2023-07-012024-06-3009925821ns10:Consolidated2022-07-012023-06-3009925821ns5:CurrentFinancialInstruments2024-06-3009925821ns5:CurrentFinancialInstruments2023-06-3009925821ns5:Non-currentFinancialInstruments2024-06-3009925821ns5:Non-currentFinancialInstruments2023-06-3009925821ns5:ShareCapital2024-06-3009925821ns5:ShareCapital2023-06-3009925821ns5:SharePremium2024-06-3009925821ns5:SharePremium2023-06-3009925821ns5:RetainedEarningsAccumulatedLosses2024-06-3009925821ns5:RetainedEarningsAccumulatedLosses2023-06-3009925821ns5:LandBuildings2023-06-3009925821ns5:PlantMachinery2023-06-3009925821ns5:LandBuildings2023-07-012024-06-3009925821ns5:PlantMachinery2023-07-012024-06-3009925821ns5:LandBuildings2024-06-3009925821ns5:PlantMachinery2024-06-3009925821ns5:LandBuildings2023-06-3009925821ns5:PlantMachinery2023-06-3009925821ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3009925821ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-30
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: Mrs Shamila Tahir





SECRETARY:





REGISTERED OFFICE: 121
Sussex Gardens
London
W2 2RU





REGISTERED NUMBER: 09925821 (England and Wales)






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
Mrs Shamila Tahir held office during the whole of the period from 1 July 2023 to the date of this report.

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:





Mrs Shamila Tahir - Director


31 January 2025

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 214,734 155,220

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 5,338,563 5,347,617

CURRENT ASSETS
Debtors 7 756,763 756,763

CREDITORS
Amounts falling due within one year 8 372,488 499,065
NET CURRENT ASSETS 384,275 257,698
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,722,838

5,605,315

CREDITORS
Amounts falling due after more than
one year

9

1,823,180

1,231,088
NET ASSETS 3,899,658 4,374,227

Ace hotels ( london) limited (Registered number: 09925821)

Company Balance Sheet - continued
30 June 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 100
Share premium 3,883,600 3,883,600
Retained earnings 16,056 490,527
3,899,658 4,374,227

Company's (loss)/profit for the
financial year

(9,054

)

83,890

The company is 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 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 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 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)

Notes to the Consolidated Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Ace hotels ( london) 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 General Information page.

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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 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

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 ) - (1 )
Amounts owed by group undertakings - 370,059 - -
Other debtors 856,463 906,091 756,763 756,764
856,463 1,276,149 756,763 756,763

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
As restated
£    £    £    £   
Bank loans and overdrafts 272,939 668,836 152,215 114,500
Trade creditors 8,200 3,700 4,000 -
Amounts owed to group undertakings - - 216,273 -
Taxation and social security 86,047 90,696 - 12,506
Other creditors - 372,059 - 372,059
367,186 1,135,291 372,488 499,065

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 1,823,180 1,231,088