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REGISTERED NUMBER: 09174105 (England and Wales)















PRAHI HOTEL COLLECTION LIMITED

STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

AUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2023 TO 30 DECEMBER 2023






PRAHI HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 09174105)

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


PRAHI HOTEL COLLECTION LIMITED

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







DIRECTOR: A Ahmed





REGISTERED OFFICE: Shrigley Hall Hotel
Pott Shrigley
Macclesfield
Cheshire
SK10 5SB





REGISTERED NUMBER: 09174105 (England and Wales)





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

PRAHI HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 09174105)

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


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

REVIEW OF BUSINESS
The main activity of the Prahi Hotel Collection Ltd ("the Company") is the operation of its main asset, The Shrigley Hall Hotel 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 10,109,171 9,772,287
Gross Profit 8,572,185 8,230,164
Gross Profit percentage 84.80% 84.22%
Net Profit/(Loss) before Tax 119,747 1,083,255
Net Liabilities 2,392,733 2,441,701


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:





A Ahmed - Director


19 March 2025

PRAHI HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 09174105)

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


The director presents his 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
A Ahmed held office during the whole of the period from 1 January 2023 to the date of this report.

APPROVAL OF REDUCED DISCLOSURES
The Company, as a qualifying entity, has taken advantage of the disclosure exemptions in FRS102 Reduced Disclosure Framework as listed in note 2 to these financial statements. The parent company's parent company has been notified in writing about the intention to take advantage of the disclosure exemptions and no objections have been received.

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 he 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 him to ensure that the financial statements comply with the Companies Act 2006. He 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 he has taken all the steps that he ought to have taken as a director in order to make himself 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:





A Ahmed - Director


19 March 2025

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


Opinion
We have audited the financial statements of Prahi 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 liabilities exceeded its total assets by £2,392,733..

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
PRAHI 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
PRAHI 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
PRAHI 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

19 March 2025

PRAHI HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 09174105)

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 3 10,109,171 9,772,287

Cost of sales 1,536,986 1,542,123
GROSS PROFIT 8,572,185 8,230,164

Administrative expenses 7,579,410 6,636,887
OPERATING PROFIT 5 992,775 1,593,277


Interest payable and similar expenses 6 873,028 510,022
PROFIT BEFORE TAXATION 119,747 1,083,255

Tax on profit 7 70,779 -
PROFIT FOR THE FINANCIAL PERIOD 48,968 1,083,255

PRAHI HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 09174105)

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 48,968 1,083,255


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD

48,968

1,083,255

PRAHI HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 09174105)

BALANCE SHEET
30 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 8,088,407 8,269,658

CURRENT ASSETS
Stocks 9 78,910 77,505
Debtors 10 2,778,264 1,802,097
Cash at bank and in hand 299,497 421,133
3,156,671 2,300,735
CREDITORS
Amounts falling due within one year 11 6,115,241 5,321,007
NET CURRENT LIABILITIES (2,958,570 ) (3,020,272 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,129,837

5,249,386

CREDITORS
Amounts falling due after more than one
year

12

(7,489,130

)

(7,691,087

)

PROVISIONS FOR LIABILITIES 16 (33,440 ) -
NET LIABILITIES (2,392,733 ) (2,441,701 )

CAPITAL AND RESERVES
Called up share capital 17 1 1
Retained earnings 18 (2,392,734 ) (2,441,702 )
SHAREHOLDERS' FUNDS (2,392,733 ) (2,441,701 )

The financial statements were approved by the director and authorised for issue on 19 March 2025 and were signed by:





A Ahmed - Director


PRAHI HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 09174105)

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

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 1 (3,524,957 ) (3,524,956 )

Changes in equity
Total comprehensive income - 1,083,255 1,083,255
Balance at 31 December 2022 1 (2,441,702 ) (2,441,701 )

Changes in equity
Total comprehensive income - 48,968 48,968
Balance at 30 December 2023 1 (2,392,734 ) (2,392,733 )

PRAHI HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 09174105)

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 1,377,906 800,341
Interest paid (852,682 ) (482,077 )
Interest element of hire purchase payments
paid

(20,346

)

(27,945

)
Net cash from operating activities 504,878 290,319

Cash flows from investing activities
Purchase of tangible fixed assets (423,506 ) (121,157 )
Sale of tangible fixed assets - 50,000
Net cash from investing activities (423,506 ) (71,157 )

Cash flows from financing activities
Loan repayments in year (279,806 ) (139,902 )
Capital repayments in year 76,798 (136,640 )
Net cash from financing activities (203,008 ) (276,542 )

Decrease in cash and cash equivalents (121,636 ) (57,380 )
Cash and cash equivalents at beginning of
period

2

421,133

478,513

Cash and cash equivalents at end of
period

2

299,497

421,133

PRAHI HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 09174105)

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 119,747 1,083,255
Depreciation charges 604,759 623,453
Finance costs 873,028 510,022
1,597,534 2,216,730
(Increase)/decrease in stocks (1,405 ) 7,380
Increase in trade and other debtors (976,167 ) (1,041,542 )
Increase/(decrease) in trade and other creditors 757,944 (382,227 )
Cash generated from operations 1,377,906 800,341

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 299,497 421,133
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 421,133 478,513


PRAHI HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 09174105)

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 421,133 (121,636 ) 299,497
421,133 (121,636 ) 299,497
Debt
Finance leases (169,283 ) (76,798 ) (246,081 )
Debts falling due within 1 year (279,804 ) - (279,804 )
Debts falling due after 1 year (7,601,344 ) 279,804 (7,321,540 )
(8,050,431 ) 203,006 (7,847,425 )
Total (7,629,298 ) 81,370 (7,547,928 )

PRAHI HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 09174105)

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


1. STATUTORY INFORMATION

Prahi 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.

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
As at 31 December 2023, the company had net current liabilities of £2,958,570 and an overall deficiency of assets amounting to £2,392,733.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The company's issued share capital is wholly owned by Prahi (2017) Limited, a company registered in England and Wales. The ultimate parent company and controlling party is Prahi Limited, a company registered in England and Wales. Consolidated group accounts of Prahi Limited can be obtained from Sidings House, Sidings Court, Lakeside, Doncaster, South Yorkshire, DN4 5NU.

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 or, if held under finance lease, over the lease term, whichever is shorter
Freehold property - various rates on reducing balance
Plant and machinery - 5% - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


PRAHI HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 09174105)

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


2. ACCOUNTING POLICIES - continued
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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit or loss in the period to which they relate.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

4. EMPLOYEES AND DIRECTORS
Period
1.1.23
to Year Ended
30.12.23 31.12.22
£    £   
Wages and salaries 3,271,559 3,464,907
Social security costs 173,461 235,955
3,445,020 3,700,862

PRAHI HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 09174105)

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


4. EMPLOYEES AND DIRECTORS - continued

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

192 188

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

5. 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 53,607 38,570
Depreciation - owned assets 549,375 564,124
Depreciation - assets on hire purchase contracts 55,382 59,329
Auditors' remuneration 12,600 14,250

6. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.1.23
to Year Ended
30.12.23 31.12.22
£    £   
Loan interest 852,682 482,077
Hire purchase 20,346 27,945
873,028 510,022

PRAHI HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 09174105)

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


7. 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
£    £   
Current tax:
UK corporation tax 37,339 -

Deferred tax 33,440 -
Tax on profit 70,779 -

Reconciliation of total tax charge included in profit and loss
The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period
1.1.23
to Year Ended
30.12.23 31.12.22
£    £   
Profit before tax 119,747 1,083,255
Profit multiplied by the standard rate of corporation tax in the UK of
23.516% (2022 - 19%)

28,160

205,818

Effects of:
Expenses not deductible for tax purposes (1,646 ) 5,835
Depreciation in excess of capital allowances 65,731 48,211
Utilisation of tax losses (21,466 ) (259,864 )
Total tax charge 70,779 -

PRAHI HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 09174105)

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


8. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 12,363,161 1,784,373 14,147,534
Additions 12,313 411,193 423,506
At 30 December 2023 12,375,474 2,195,566 14,571,040
DEPRECIATION
At 1 January 2023 4,491,705 1,386,171 5,877,876
Charge for period 444,741 160,016 604,757
At 30 December 2023 4,936,446 1,546,187 6,482,633
NET BOOK VALUE
At 30 December 2023 7,439,028 649,379 8,088,407
At 31 December 2022 7,871,456 398,202 8,269,658

A full independent valuation of the property was carried out by CBRE Limited on 14 June 2021. This valuation indicated a market value of £9,300,000 for the property as a fully equipped operational entity.

The Director considers that the fair value at 31 December 2023 is not materially different to the above valuation.

A bank loan in the name of Amazehotels Ltd, this company's share of which amounts to £7,601,344 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 2017 132,000 - 132,000
Valuation in 2021 (2,124,172 ) (6,350 ) (2,130,522 )
Cost 14,367,646 2,201,916 16,569,562
12,375,474 2,195,566 14,571,040

PRAHI HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 09174105)

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


8. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Freehold Plant and
property machinery Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 47,157 308,869 356,026
Additions - 160,000 160,000
Transfer to ownership - (37,450 ) (37,450 )
At 30 December 2023 47,157 431,419 478,576
DEPRECIATION
At 1 January 2023 25,718 171,642 197,360
Charge for period 7,835 47,547 55,382
Transfer to ownership - (26,839 ) (26,839 )
At 30 December 2023 33,553 192,350 225,903
NET BOOK VALUE
At 30 December 2023 13,604 239,069 252,673
At 31 December 2022 21,439 137,227 158,666

9. STOCKS
2023 2022
£    £   
Stocks 78,910 77,505

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 172,969 304,982
Provision for doubtful debts (59,983 ) -
Amounts owed by group undertakings 286,195 286,195
Other debtors 7,341 89
Intercompany 2,295,553 999,553
Prepayments and accrued income 76,189 211,278
2,778,264 1,802,097

PRAHI HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 09174105)

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


11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 13) 279,804 279,804
Hire purchase contracts (see note 14) 78,491 79,540
Trade creditors 455,101 1,015,974
Amounts owed to group undertakings 2,462,334 2,462,334
Tax 37,339 -
Social security and other taxes 120,252 137,122
VAT 196,873 270,296
Other creditors 550,148 204,014
Intercompany 408,591 22,263
Accruals and deferred income 1,526,308 849,660
6,115,241 5,321,007

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 13) 7,321,540 7,601,344
Hire purchase contracts (see note 14) 167,590 89,743
7,489,130 7,691,087

13. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 279,804 279,804

Amounts falling due between one and two years:
Bank loans - 1-2 years 279,804 279,804

Amounts falling due between two and five years:
Bank loans - 2-5 years 7,041,736 7,321,540

PRAHI HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 09174105)

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


14. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 78,491 79,540
Between one and five years 167,590 89,743
246,081 169,283

Non-cancellable operating leases
2023 2022
£    £   
Within one year - 10,969

15. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 7,601,344 7,881,148

A bank loan in the name of Amazehotels Ltd, this company's share of which amounts to £7,601,344, is secured on the land and buildings held by this company, in addition to which the director has given personal guarantees against.

16. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 33,440 -

Deferred
tax
£   
Charge to Income Statement during period 33,440
Balance at 30 December 2023 33,440

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary A 1 1 1

PRAHI HOTEL COLLECTION LIMITED (REGISTERED NUMBER: 09174105)

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


18. RESERVES
Retained
earnings
£   

At 1 January 2023 (2,441,702 )
Profit for the period 48,968
At 30 December 2023 (2,392,734 )

19. 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.