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REGISTERED NUMBER: 09000147 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Elephant Hospitality Limited

Elephant Hospitality Limited (Registered number: 09000147)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Elephant Hospitality Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: B Weller
R Hensman
G Burman





REGISTERED OFFICE: 1st Floor,
Cromwell House
14 Fulwood Place
London
WC1V 6HZ





REGISTERED NUMBER: 09000147 (England and Wales)





ACCOUNTANTS: Gorrie Whitson Limited
1st Floor, Cromwell House
14 Fulwood Place
London
WC1V 6HZ

Elephant Hospitality Limited (Registered number: 09000147)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 157,500 172,500
Tangible assets 5 340,562 337,679
498,062 510,179

CURRENT ASSETS
Stocks 34,844 32,423
Debtors 6 1,190,384 850,678
Cash at bank and in hand 22,749 7,580
1,247,977 890,681
CREDITORS
Amounts falling due within one year 7 576,549 601,955
NET CURRENT ASSETS 671,428 288,726
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,169,490

798,905

CREDITORS
Amounts falling due after more than one
year

8

(152,170

)

(191,542

)

PROVISIONS FOR LIABILITIES (17,385 ) (8,095 )
NET ASSETS 999,935 599,268

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 994,935 594,268
SHAREHOLDERS' FUNDS 999,935 599,268

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Elephant Hospitality Limited (Registered number: 09000147)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2025 and were signed on its behalf by:





B Weller - Director


Elephant Hospitality Limited (Registered number: 09000147)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Elephant Hospitality 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 Company Information page.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - over the term of the lease
Plant and machinery etc - 25% on reducing balance, 25% on reducing balance and over the term of the lease

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 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Elephant Hospitality Limited (Registered number: 09000147)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2023 - 46 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 300,000
AMORTISATION
At 1 April 2023 127,500
Charge for year 15,000
At 31 March 2024 142,500
NET BOOK VALUE
At 31 March 2024 157,500
At 31 March 2023 172,500

5. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1 April 2023 373,000 78,607 210,780
Additions - - 45,999
At 31 March 2024 373,000 78,607 256,779
DEPRECIATION
At 1 April 2023 156,971 21,837 163,126
Charge for year 18,650 3,930 18,002
At 31 March 2024 175,621 25,767 181,128
NET BOOK VALUE
At 31 March 2024 197,379 52,840 75,651
At 31 March 2023 216,029 56,770 47,654

Elephant Hospitality Limited (Registered number: 09000147)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 29,121 33,208 724,716
Additions 2,240 - 48,239
At 31 March 2024 31,361 33,208 772,955
DEPRECIATION
At 1 April 2023 19,878 25,225 387,037
Charge for year 2,778 1,996 45,356
At 31 March 2024 22,656 27,221 432,393
NET BOOK VALUE
At 31 March 2024 8,705 5,987 340,562
At 31 March 2023 9,243 7,983 337,679

6. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Other debtors 60,139 14,465
Amounts from related parties 1,089,228 796,082
Prepayments 8,169 7,283
1,157,536 817,830

Amounts falling due after more than one year:
Other debtors 32,848 32,848

Aggregate amounts 1,190,384 850,678

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 9) 60,368 162,172
Trade creditors 49,260 60,660
Tax 212,971 127,375
Social security and other taxes 38,367 45,560
VAT 206,490 202,188
Accrued expenses 9,093 4,000
576,549 601,955

Elephant Hospitality Limited (Registered number: 09000147)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 9) 152,170 191,542

9. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 60,368 162,172

Amounts falling due between one and two years:
Bank loans - 1-2 years 60,368 60,368

Amounts falling due between two and five years:
Bank loans - 2-5 years 91,802 131,174

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 212,538 353,714

The company's bank debt is secured by first charges over the company's leasehold property and assets and personal guarantees provided by some of the directors and shareholders of the company.

11. OTHER FINANCIAL COMMITMENTS

At 31 March 2024 the company had an annual rental commitment of £120,000 in respect of a property lease due to expire more than five years after the balance sheet date.

12. RELATED PARTY DISCLOSURES

1. There is no single ultimate controlling party.

2. During the period consultancy fees of £45,000 were paid to a company whom a director/shareholder of Elephant Hospitality Ltd is also a director/shareholder of the recipient company.