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REGISTERED NUMBER: 11230428 (England and Wales)















DIAMOND HOTEL COLLECTION LIMITED

STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

AUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2023 TO 30 DECEMBER 2023






DIAMOND HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 11230428)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023










Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 15


DIAMOND HOTEL COLLECTION LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023







DIRECTOR: Ms N Rabani





REGISTERED OFFICE: Hollin Hall Hotel
Jackson Lane
Bollington
Macclesfield
Cheshire
SK10 5BG





REGISTERED NUMBER: 11230428 (England and Wales)





AUDITORS: Xeinadin Audit Limited
Sidings House
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU

DIAMOND HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 11230428)

STRATEGIC REPORT
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023


The director presents her strategic report for the period 1 January 2023 to 30 December 2023.

REVIEW OF BUSINESS
The main activity of the Diamond Hotel Collection Limited ("the Company") is the operation of its main asset, The Chevin Country Park Hotel & Spa, in the United Kingdom.

The strategy of the Company is to operate the hotel profitably whilst maintaining good customer satisfaction ratings and hiring and managing employees effectively.

Key Financial Performance Indicators

Year Ended Year Ended
31/12/23 31/12/22
£ £

Turnover £2,945,790 £3,223,210
Gross Profit £2,499,635 £2,696,212
Gross Profit percentage 84.9% 83.7%
Net Profit (loss) before Tax £207,930 £619,579
Net current liabilities (£450,330) (£530,570)


PRINCIPAL RISKS AND UNCERTAINTIES
The Company is directly exposed to the risks associated with the hotel industry such as any downturn in the general operating conditions in the UK provincial hotel industry and new hotel openings close to its existing location.

The Company is also exposed to risks regarding property valuations in periods of market instability. This instability means that professional valuers and the Director are not able to value properties with the same degree of certainty as would be the case in a more stable market with a good level of transactional evidence to support valuations.

The Company's exposure to credit risk is primarily attributable to its trade debtors. The amounts presented in the balance sheet are net of any allowances for doubtful debts. The Company seeks to mitigate credit risk through credit checking and, where customers pay on departure, Company policy is to obtain a pre-authorised credit card for payment. In certain circumstances customers pay all or part of their stay in advance.

The Company's exposure to liquidity and cash flow risk is mitigated by the trade debtors procedures described above and by negotiating commercial payment terms with suppliers. The Company aims to mitigate liquidity risk by managing cash generation and uses through its operations.

FUTURE DEVELOPMENTS
The director is confident for the future as the company continues to build its brand and reputation.

ON BEHALF OF THE BOARD:





Ms N Rabani - Director


18 March 2025

DIAMOND HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 11230428)

REPORT OF THE DIRECTOR
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023


The director presents her report with the financial statements of the company for the period 1 January 2023 to 30 December 2023.

DIVIDENDS
No dividends will be distributed for the period ended 30 December 2023.

DIRECTOR
Ms N Rabani held office during the whole of the period from 1 January 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable her to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and she has taken all the steps that she ought to have taken as a director in order to make herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Ms N Rabani - Director


18 March 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DIAMOND HOTEL COLLECTION LIMITED


Opinion
We have audited the financial statements of Diamond Hotel Collection Limited (the 'company') for the period ended 30 December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 December 2023 and of its profit for the period then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainty relating to going concern
We draw attention to Note 2 in the financial statements, which indicates that the company's current liabilities exceeded its current assets by £450,330 (2022: £530,570).

As stated in Note 2, these events or conditions, along with other matters as set forth in Note 2, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern.

Our opinion is not modified in respect of this matter.

Key audit matters
Except for the matter described in the material uncertainty related to going concern section, we have determined that there are no key audit matters to be communicated in our report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DIAMOND HOTEL COLLECTION LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DIAMOND HOTEL COLLECTION LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company, we identified that the principal risks of non-compliance with laws and regulations related to the preparation of statutory accounts and corporation tax legislation and we considered the extent to which non-compliance might have a material effect on the financial statements. As part of this assessment we considered both quantitative and qualitative factors. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, such as the Companies Act 2006 and FRS 102.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements which included the risk of management override of controls. We determined that the principal risks were related to posting inappropriate journal entries, omitting, advancing or delaying recognition of events and transactions that have occurred during or after the reporting period, and potential management bias in the determination of accounting estimates or judgements to manipulate results.

Audit procedures performed by the engagement team include:

- Enquiring of and obtaining written representation from management in relation to known or suspected instances of non-compliance with laws and regulations and fraud;
- Evaluation of management's controls designed to prevent and detect irregularities;
- Identifying and, where relevant, testing journal entries posted by senior management or with unusual combinations;
- Assessing and evaluating the business rationale of significant transactions outside the normal course of business;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- Incorporating elements of unpredictability into the nature, timing and/or extent of audit procedures performed.
- Review of board meeting minutes and meetings of those charged with governance

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DIAMOND HOTEL COLLECTION LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Kelvin Fitton FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited
Sidings House
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU

18 March 2025

DIAMOND HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 11230428)

INCOME STATEMENT
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023

Period
1.1.23
to Year Ended
30.12.23 31.12.22
Notes £    £   

TURNOVER 2,945,790 3,223,210

Cost of sales 446,155 526,998
GROSS PROFIT 2,499,635 2,696,212

Administrative expenses 2,228,417 2,424,493
271,218 271,719

Other operating income - 6,000
Gain/loss on revaluation of tangible assets - 594,464
OPERATING PROFIT 4 271,218 872,183


Interest payable and similar expenses 5 63,288 252,604
PROFIT BEFORE TAXATION 207,930 619,579

Tax on profit 6 109,442 122,368
PROFIT FOR THE FINANCIAL PERIOD 98,488 497,211

DIAMOND HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 11230428)

OTHER COMPREHENSIVE INCOME
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023

Period
1.1.23
to Year Ended
30.12.23 31.12.22
Notes £    £   

PROFIT FOR THE PERIOD 98,488 497,211


OTHER COMPREHENSIVE INCOME
Release tax provision on revaluation res 3,602 -
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE PERIOD, NET OF INCOME
TAX


3,602


-
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD

102,090

497,211

DIAMOND HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 11230428)

BALANCE SHEET
30 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 5,576,635 5,600,002

CURRENT ASSETS
Stocks 8 26,180 29,587
Debtors 9 1,642,877 1,242,813
Cash at bank and in hand 43,643 56,723
1,712,700 1,329,123
CREDITORS
Amounts falling due within one year 10 2,163,030 1,859,693
NET CURRENT LIABILITIES (450,330 ) (530,570 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,126,305

5,069,432

CREDITORS
Amounts falling due after more than one
year

11

(3,952,648

)

(4,103,705

)

PROVISIONS FOR LIABILITIES 14 (285,949 ) (180,109 )
NET ASSETS 887,708 785,618

CAPITAL AND RESERVES
Called up share capital 15 100 100
Revaluation reserve 16 529,519 540,326
Retained earnings 16 358,089 245,192
SHAREHOLDERS' FUNDS 887,708 785,618

The financial statements were approved by the director and authorised for issue on 18 March 2025 and were signed by:





Ms N Rabani - Director


DIAMOND HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 11230428)

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 January 2022 100 79,877 208,430 288,407

Changes in equity
Total comprehensive income - 165,315 331,896 497,211
Balance at 31 December 2022 100 245,192 540,326 785,618

Changes in equity
Total comprehensive income - 112,897 (10,807 ) 102,090
Balance at 30 December 2023 100 358,089 529,519 887,708

DIAMOND HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 11230428)

CASH FLOW STATEMENT
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023

Period
1.1.23
to Year Ended
30.12.23 31.12.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 363,371 336,208
Interest paid (63,288 ) (252,604 )
Net cash from operating activities 300,083 83,604

Cash flows from investing activities
Purchase of tangible fixed assets (162,106 ) (43,922 )
Sale of tangible fixed assets - 18,000
Net cash from investing activities (162,106 ) (25,922 )

Cash flows from financing activities
Loan repayments in year (151,057 ) (75,528 )
Net cash from financing activities (151,057 ) (75,528 )

Decrease in cash and cash equivalents (13,080 ) (17,846 )
Cash and cash equivalents at beginning of
period

2

56,723

74,569

Cash and cash equivalents at end of
period

2

43,643

56,723

DIAMOND HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 11230428)

NOTES TO THE CASH FLOW STATEMENT
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

Period
1.1.23
to Year Ended
30.12.23 31.12.22
£    £   
Profit before taxation 207,930 619,579
Depreciation charges 185,473 156,127
Gain on revaluation of fixed assets - (594,464 )
Finance costs 63,288 252,604
456,691 433,846
Decrease in stocks 3,407 269
Increase in trade and other debtors (400,064 ) (82,065 )
Increase/(decrease) in trade and other creditors 303,337 (15,842 )
Cash generated from operations 363,371 336,208

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 30 December 2023
30.12.23 1.1.23
£    £   
Cash and cash equivalents 43,643 56,723
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 56,723 74,569


DIAMOND HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 11230428)

NOTES TO THE CASH FLOW STATEMENT
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.1.23 Cash flow At 30.12.23
£    £    £   
Net cash
Cash at bank and in hand 56,723 (13,080 ) 43,643
56,723 (13,080 ) 43,643
Debt
Debts falling due within 1 year (151,057 ) - (151,057 )
Debts falling due after 1 year (4,103,705 ) 151,057 (3,952,648 )
(4,254,762 ) 151,057 (4,103,705 )
Total (4,198,039 ) 137,977 (4,060,062 )

DIAMOND HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 11230428)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023


1. STATUTORY INFORMATION

Diamond Hotel Collection 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
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

As at 31 December 2023 the Company had net current liabilities of £450,330 (2022: £530,570).

The Company is party to a composite loan in the name of Amazehotels Ltd, covering multiple other Companies, under a joint and several liability arrangement. The Company is reliant on the other companies for financial support in the event it cannot meet its repayment obligations.

Moving into 2024 the current macro economic conditions, with significant inflationary pressures, have the potential to limit the company's future planned growth and may alter the assessment of its ability to continue as a going concern.

The director considers it appropriate to prepare the accounts on a going concern basis, however the above events and conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern.

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.
Plant and machinery - Straight line over 2 to 20 years

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 period 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.


DIAMOND HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 11230428)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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 period 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS
Period
1.1.23
to Year Ended
30.12.23 31.12.22
£    £   
Wages and salaries 1,097,812 1,196,185

The average number of employees during the period was as follows:
Period
1.1.23
to Year Ended
30.12.23 31.12.22

106 81

Period
1.1.23
to Year Ended
30.12.23 31.12.22
£    £   
Director's remuneration - -

DIAMOND HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 11230428)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023


4. OPERATING PROFIT

The operating profit is stated after charging:

Period
1.1.23
to Year Ended
30.12.23 31.12.22
£    £   
Hire of plant and machinery 8,197 7,305
Depreciation - owned assets 185,473 156,127
Auditors' remuneration 10,048 7,495

5. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.1.23
to Year Ended
30.12.23 31.12.22
£    £   
Loan 63,288 252,604

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the period was as follows:
Period
1.1.23
to Year Ended
30.12.23 31.12.22
£    £   
Deferred tax 109,442 122,368
Tax on profit 109,442 122,368

Tax effects relating to effects of other comprehensive income

1.1.23 to 30.12.23
Gross Tax Net
£    £    £   
Release tax provision on revaluation res 3,602 - 3,602

DIAMOND HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 11230428)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023


7. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 4,608,929 1,162,771 5,771,700
Additions - 162,106 162,106
At 30 December 2023 4,608,929 1,324,877 5,933,806
DEPRECIATION
At 1 January 2023 - 171,698 171,698
Charge for period 77,459 108,014 185,473
At 30 December 2023 77,459 279,712 357,171
NET BOOK VALUE
At 30 December 2023 4,531,470 1,045,165 5,576,635
At 31 December 2022 4,608,929 991,073 5,600,002

Included in cost or valuation of land and buildings is freehold land of £ 736,000 (2022 - £ 736,000 ) which is not depreciated.

A bank loan in the name of Amazehotels Ltd, this company's share of which amounts to £4,103,705, is secured on the land and buildings held by this company.

Cost or valuation at 30 December 2023 is represented by:

Freehold Plant and
property machinery Totals
£    £    £   
Valuation in 2020 262,574 - 262,574
Valuation in 2022 457,862 - 457,862
Cost 3,888,493 1,324,877 5,213,370
4,608,929 1,324,877 5,933,806

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 3,888,493 3,888,493

Value of land in freehold land and buildings 736,000 736,000

Freehold land and buildings were valued on an open market basis on 1 February 2023 by Knight Frank LLP .

DIAMOND HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 11230428)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023


8. STOCKS
2023 2022
£    £   
Stocks 26,180 29,587

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 125,900 93,515
Intercompany loans 1,157,397 1,028,939
Prepayments 359,580 120,359
1,642,877 1,242,813

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 12) 151,057 151,057
Trade creditors 394,547 203,329
Social security and other taxes 8,929 29,912
VAT 44,728 58,162
Other creditors 476,326 487,932
Intercompany loans 953,572 686,686
Directors' current accounts 78,158 78,158
Accruals and deferred income 55,713 164,457
2,163,030 1,859,693

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 12) 3,952,648 4,103,705

12. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 151,057 151,057

Amounts falling due between one and two years:
Bank loans - 1-2 years 151,057 151,057

Amounts falling due between two and five years:
Bank loans - 2-5 years 3,801,591 3,952,648

DIAMOND HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 11230428)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023


13. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 4,103,705 4,254,762

A bank loan in the name of Amazehotels Ltd, this company's share of which amounts to £4,103,705, is secured on the land and buildings held by this company, in addition to which the director has given personal guarantees against.

14. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 285,949 180,109

Deferred
tax
£   
Balance at 1 January 2023 180,109
Provided during period 109,442
Utilised during period (3,602 )
Balance at 30 December 2023 285,949

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 100 100 100

16. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 January 2023 245,192 540,326 785,518
Profit for the period 98,488 98,488
Depreciation on revaluation 14,409 (14,409 ) -
Deferred tax on revaluation - 3,602 3,602
At 30 December 2023 358,089 529,519 887,608

DIAMOND HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 11230428)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023


17. CONTINGENT LIABILITIES

The Company is party to a composite loan in the name of Amazehotels Ltd, covering multiple other Companies, under a joint and several liability arrangement. The Company's share of this loan is disclosed as a bank loan within these Accounts. However in the event that one of the other Companies is unable to meet its repayment obligations then the Company may be required to make further payments, over and above its disclosed commitments. As the amount and nature of these payments is not able to be quantified as at the Balance Sheet date, no provision has been made, rather has been disclosed as a potential contingent liability.

18. RELATED PARTY DISCLOSURES

Included in Creditors is £78,158 (2022: £78,158) due to N Rabani, representing the balance due on their Director's loan account. The loan is interest free and has no formal repayment terms.