ZEAL HOTELS LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1ST APRIL 2023 TO 30TH SEPTEMBER 2024 |
ZEAL HOTELS LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1ST APRIL 2023 TO 30TH SEPTEMBER 2024 |
ZEAL HOTELS LTD (REGISTERED NUMBER: 07579481) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST APRIL 2023 TO 30TH SEPTEMBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ZEAL HOTELS LTD |
COMPANY INFORMATION |
FOR THE PERIOD 1ST APRIL 2023 TO 30TH SEPTEMBER 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Trading as Haines Watts |
First Floor, Woburn Court |
2 Railton Road |
Woburn Rd Ind Est |
Kempston |
Bedfordshire |
MK42 7PN |
ZEAL HOTELS LTD (REGISTERED NUMBER: 07579481) |
BALANCE SHEET |
30TH SEPTEMBER 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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. |
ZEAL HOTELS LTD (REGISTERED NUMBER: 07579481) |
BALANCE SHEET - continued |
30TH SEPTEMBER 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
ZEAL HOTELS LTD (REGISTERED NUMBER: 07579481) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST APRIL 2023 TO 30TH SEPTEMBER 2024 |
1. | STATUTORY INFORMATION |
Zeal Hotels Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
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. |
Trademarks are being amortised evenly over their estimated useful life of twenty five years. |
Intellectual property rights are amortised evenly over their estimated useful life of five years from the completion of the concept. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2023 - NIL). |
ZEAL HOTELS LTD (REGISTERED NUMBER: 07579481) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST APRIL 2023 TO 30TH SEPTEMBER 2024 |
4. | INTANGIBLE FIXED ASSETS |
Intellectual |
property |
Trademarks | rights | Totals |
£ | £ | £ |
COST |
At 1st April 2023 |
Additions |
At 30th September 2024 |
AMORTISATION |
At 1st April 2023 |
Amortisation for period |
At 30th September 2024 |
NET BOOK VALUE |
At 30th September 2024 |
At 31st March 2023 |
In the opinion of the directors, the intellectual property rights have a useful live of five years, representing the period they believe it will take their competitors to catch up with their design concept. |
Amortisation is only charged from the time the concept is complete, anticipated to be Spring 2025. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by participating interests | 4,080 | 4,080 |
Other debtors |
VAT |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to participating interests | 14,422 | 14,422 |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to participating interests | 304,434 | 109,894 |
ZEAL HOTELS LTD (REGISTERED NUMBER: 07579481) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST APRIL 2023 TO 30TH SEPTEMBER 2024 |
8. | RELATED PARTY DISCLOSURES |
Lousada plc is a company controlled by Mr S C Lousada, a director and shareholder in the company. |
Included within creditors due after more than one year is a loan from Lousada plc of £304,434 (2023 £109,894). |
Interest was paid on this loan of £28,716 in the period (2023 £nil). |
9. | FIRST YEAR ADOPTION |
No transitional adjustments were deemed necessary to equity or retained earnings on transition to FRS 102 1A. |