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Registration number: 05276430

Devonshire Hotels (London) Limited

Annual Report and Unaudited Filleted Financial Statements

for the Period from 1 January 2023 to 30 April 2024

 

Devonshire Hotels (London) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Devonshire Hotels (London) Limited

Company Information

Directors

Mr M A Nathan

Mr S Melville

Company secretary

P A N Meyers

Registered office

The Lodge At Winchelsea
Hastings Road
Winchelsea
East Sussex
TN36 4AD

Accountants

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

 

Devonshire Hotels (London) Limited

(Registration number: 05276430)
Balance Sheet as at 30 April 2024

Note

2024
£

2022
£

Fixed assets

 

Tangible assets

4

-

37,376

Current assets

 

Stocks

5

-

9,662

Debtors

6

99,689

40,287

Cash at bank and in hand

 

29,835

22,978

 

129,524

72,927

Creditors: Amounts falling due within one year

7

(777,379)

(702,955)

Net current liabilities

 

(647,855)

(630,028)

Total assets less current liabilities

 

(647,855)

(592,652)

Creditors: Amounts falling due after more than one year

7

(17,289)

(29,828)

Provisions for liabilities

-

(4,974)

Net liabilities

 

(665,144)

(627,454)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(665,244)

(627,554)

Shareholders' deficit

 

(665,144)

(627,454)

For the financial period ending 30 April 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 January 2025 and signed on its behalf by:
 

 

Devonshire Hotels (London) Limited

(Registration number: 05276430)
Balance Sheet as at 30 April 2024

.........................................
Mr M A Nathan
Director

 

Devonshire Hotels (London) Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The Lodge At Winchelsea
Hastings Road
Winchelsea
East Sussex
TN36 4AD
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income 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 taxable income.

 

Devonshire Hotels (London) Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

20% Reducing Balance

Fixtures & Fittings

20% Reducing Balance

Office Equipment

20% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Devonshire Hotels (London) Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 April 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 14 (2022 - 9).

 

Devonshire Hotels (London) Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 April 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Cost or valuation

At 1 January 2023

3,825

146,794

14,695

91,865

Additions

-

5,571

-

517

Disposals

(3,825)

(152,365)

(14,695)

(92,382)

At 30 April 2024

-

-

-

-

Depreciation

At 1 January 2023

-

126,982

8,496

84,325

Charge for the period

-

814

-

-

Eliminated on disposal

-

(127,796)

(8,496)

(84,325)

At 30 April 2024

-

-

-

-

Carrying amount

At 30 April 2024

-

-

-

-

At 31 December 2022

3,825

19,812

6,199

7,540

Total
£

Cost or valuation

At 1 January 2023

257,179

Additions

6,088

Disposals

(263,267)

At 30 April 2024

-

Depreciation

At 1 January 2023

219,803

Charge for the period

814

Eliminated on disposal

(220,617)

At 30 April 2024

-

Carrying amount

At 30 April 2024

-

At 31 December 2022

37,376

Included within the net book value of land and buildings above is £Nil (2022 - £3,825) in respect of freehold land and buildings.
 

 

Devonshire Hotels (London) Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 April 2024

5

Stocks

2024
£

2022
£

Other inventories

-

9,662

6

Debtors

2024
£

2022
£

Trade debtors

17,389

-

Taxation and social security

8,078

-

Prepayments

1,431

2,453

Other debtors

72,791

37,834

99,689

40,287

All debtors are settled post year end.

 

Devonshire Hotels (London) Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2022
£

Due within one year

 

Bank loans and overdrafts

8

10,000

10,959

Trade creditors

 

119,057

26,393

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

537,443

520,213

Taxation and social security

 

26,566

20,268

Accruals and deferred income

 

8,713

3,210

Other creditors

 

23,896

65,848

Director loan account

 

51,704

56,064

 

777,379

702,955

Creditors: amounts falling due after more than one year

Note

2024
£

2022
£

Due after one year

 

Loans and borrowings

8

17,289

29,828

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2022
£

Bank borrowings

17,289

29,828

Current loans and borrowings

2024
£

2022
£

Bank borrowings

10,000

10,959

 

Devonshire Hotels (London) Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 April 2024

9

Related party transactions

Summary of transactions with other related parties

Peppercorn Property Investments Ltd - S Melville and M Nathan are directors of the company.
 

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

520,213

520,213

Advanced

17,229

17,229

At end of period

537,442

537,442

2022

Other related parties
£

Total
£

At start of period

520,213

520,213

At end of period

520,213

520,213

10

Parent and ultimate parent undertaking

The company's immediate parent is Peppercorn Property Investments Ltd, incorporated in England & Wales.