1 July 2023 v2024.60.2 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00falsetruexbrli:purexbrli:sharesiso4217:GBP125106362023-07-012024-06-30125106362024-06-30125106362023-06-3012510636core:WithinOneYear2024-06-3012510636core:WithinOneYear2023-06-3012510636core:AfterOneYear2024-06-3012510636core:AfterOneYear2023-06-3012510636core:ShareCapital2024-06-3012510636core:ShareCapital2023-06-3012510636core:RetainedEarningsAccumulatedLosses2024-06-3012510636core:RetainedEarningsAccumulatedLosses2023-06-3012510636bus:Director12023-07-012024-06-3012510636bus:RegisteredOffice2023-07-012024-06-301251063612023-07-012024-06-30125106362022-07-012023-06-3012510636countries:EnglandWales2023-07-012024-06-3012510636bus:AuditExemptWithAccountantsReport2023-07-012024-06-3012510636bus:PrivateLimitedCompanyLtd2023-07-012024-06-3012510636bus:SmallEntities2023-07-012024-06-3012510636bus:FullAccounts2023-07-012024-06-30
Company registration number:
12510636
Oasis Hanley Hotel Ltd
Unaudited Filleted Financial Statements for the year ended
30 June 2024
Oasis Hanley Hotel Ltd
Statement of Financial Position
30 June 2024
20242023
Note££
Current assets    
Stocks
488,804
 
488,804
 
Debtors 5
24,000
 
24,000
 
Cash at bank and in hand
1
 
1
 
512,805
 
512,805
 
Creditors: amounts falling due within one year 6
(262,683
)
(301,439
)
Net current assets
250,122
 
211,366
 
Total assets less current liabilities 250,122   211,366  
Creditors: amounts falling due after more than one year 7
(248,824
)
(248,824
)
Net assets/(liabilities)
1,298
 
(37,458
)
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
1,297
 
(37,459
)
Shareholders funds/(deficit)
1,298
 
(37,458
)
For the year ending
30 June 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
22 November 2024
, and are signed on behalf of the board by:
Mr Paul Walters
Director
Company registration number:
12510636
Oasis Hanley Hotel Ltd
Notes to the Financial Statements
Year ended
30 June 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
C/O Jacksons Chartered Accountants Deansfield House
,
98 Lancaster Road
,
Newcastle under Lyme
,
Staffordshire
,
ST5 1DS
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2023: Nil).

5 Debtors

20242023
££
Other debtors
24,000
 
24,000
 

6 Creditors: amounts falling due within one year

20242023
££
Taxation and social security
304
  -  
Other creditors
262,379
 
301,439
 
262,683
 
301,439
 
Included in other creditors is a loan from Together Commercial Finance Limited and the balance owed by the company at the year end was £130,152 (2023: £271,086). This loan is secured.

7 Creditors: amounts falling due after more than one year

20242023
££
Amounts owed to group undertakings and undertakings in which the company has a participating interest
248,824
 
248,824
 

9 Controlling party

No one individual has control of Hanley Progress Properties Ltd, the ultimate parent company of Oasis Hanley Hotel Ltd.