Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30true10No description of principal activity2023-07-01falsefalse15true 10683236 2023-07-01 2024-06-30 10683236 2022-07-01 2023-06-30 10683236 2024-06-30 10683236 2023-06-30 10683236 2022-07-01 10683236 1 2023-07-01 2024-06-30 10683236 5 2023-07-01 2024-06-30 10683236 d:Director2 2023-07-01 2024-06-30 10683236 d:Director3 2023-07-01 2024-06-30 10683236 d:RegisteredOffice 2023-07-01 2024-06-30 10683236 e:Buildings 2023-07-01 2024-06-30 10683236 e:Buildings 2024-06-30 10683236 e:Buildings 2023-06-30 10683236 e:Buildings e:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10683236 e:PlantMachinery 2023-07-01 2024-06-30 10683236 e:PlantMachinery 2024-06-30 10683236 e:PlantMachinery 2023-06-30 10683236 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10683236 e:FurnitureFittings 2023-07-01 2024-06-30 10683236 e:FurnitureFittings 2024-06-30 10683236 e:FurnitureFittings 2023-06-30 10683236 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10683236 e:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10683236 e:CurrentFinancialInstruments 2024-06-30 10683236 e:CurrentFinancialInstruments 2023-06-30 10683236 e:Non-currentFinancialInstruments 2024-06-30 10683236 e:Non-currentFinancialInstruments 2023-06-30 10683236 e:CurrentFinancialInstruments e:WithinOneYear 2024-06-30 10683236 e:CurrentFinancialInstruments e:WithinOneYear 2023-06-30 10683236 e:Non-currentFinancialInstruments e:AfterOneYear 2024-06-30 10683236 e:Non-currentFinancialInstruments e:AfterOneYear 2023-06-30 10683236 e:ShareCapital 2023-07-01 2024-06-30 10683236 e:ShareCapital 2024-06-30 10683236 e:ShareCapital 2022-07-01 2023-06-30 10683236 e:ShareCapital 2023-06-30 10683236 e:ShareCapital 2022-07-01 10683236 e:RevaluationReserve 2023-07-01 2024-06-30 10683236 e:RevaluationReserve 2024-06-30 10683236 e:RevaluationReserve 1 2023-07-01 2024-06-30 10683236 e:RevaluationReserve 5 2023-07-01 2024-06-30 10683236 e:RevaluationReserve 2022-07-01 2023-06-30 10683236 e:RevaluationReserve 2023-06-30 10683236 e:RevaluationReserve 2022-07-01 10683236 e:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 10683236 e:RetainedEarningsAccumulatedLosses 2024-06-30 10683236 e:RetainedEarningsAccumulatedLosses 1 2023-07-01 2024-06-30 10683236 e:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 10683236 e:RetainedEarningsAccumulatedLosses 2023-06-30 10683236 e:RetainedEarningsAccumulatedLosses 2022-07-01 10683236 d:FRS102 2023-07-01 2024-06-30 10683236 d:Audited 2023-07-01 2024-06-30 10683236 d:FullAccounts 2023-07-01 2024-06-30 10683236 d:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10683236 d:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 10683236 2 2023-07-01 2024-06-30 10683236 5 2023-07-01 2024-06-30 10683236 e:ShareCapital 1 2023-07-01 2024-06-30 10683236 f:PoundSterling 2023-07-01 2024-06-30 10683236 e:RetainedEarningsAccumulatedLosses 5 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure
Company registration number: 10683236







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024


NINE GREENWICH HOTEL LIMITED






































img0c0c.png                        

 


NINE GREENWICH HOTEL LIMITED
 


 
COMPANY INFORMATION


Directors
J K Chadha 
G S Chadha 




Registered number
10683236



Registered office
Vivek House
65-67 Clarendon Road

Watford

WD17 1DS




Trading Address
228 Tunnel Avenue

London

SE10 0PL






Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


NINE GREENWICH HOTEL LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Statement of Changes in Equity
3
Notes to the Financial Statements
4 - 11


 


NINE GREENWICH HOTEL LIMITED
REGISTERED NUMBER:10683236



STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
17,749,262
9,924,842

  
17,749,262
9,924,842

Current assets
  

Debtors: amounts falling due within one year
 5 
1,490,691
157,531

Cash at bank and in hand
  
2,343,391
548,244

  
3,834,082
705,775

Creditors: amounts falling due within one year
 6 
(5,384,553)
(12,411,445)

Net current liabilities
  
 
 
(1,550,471)
 
 
(11,705,670)

Total assets less current liabilities
  
16,198,791
(1,780,828)

Creditors: amounts falling due after more than one year
 7 
(9,956,114)
(27,441)

Provisions for liabilities
  

Deferred tax
  
(1,615,201)
-

  
 
 
(1,615,201)
 
 
-

Net assets/(liabilities)
  
4,627,476
(1,808,269)

Page 1

 


NINE GREENWICH HOTEL LIMITED
REGISTERED NUMBER:10683236


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

2024
2023
£
£

Capital and reserves
  

Called up share capital 
  
1,000
1,000

Revaluation reserve
  
6,209,327
-

Profit and loss account
  
(1,582,851)
(1,809,269)

  
4,627,476
(1,808,269)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
G S Chadha
Director

Date: 11 March 2025

The notes on pages 4 to 11 form part of these financial statements.

Page 2

 
NINE GREENWICH HOTEL LIMITED

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024



Called up share capital
Revaluation reserve
Profit and loss account
Total equity


£
£
£
£



At 1 July 2022
1,000
-
(1,955,477)
(1,954,477)



Comprehensive income for the year


Profit for the year
-
-
146,208
146,208

Total comprehensive income for the year
-
-
146,208
146,208





At 1 July 2023
1,000
-
(1,809,269)
(1,808,269)



Comprehensive income for the year


Profit for the year
-
-
226,418
226,418


Surplus on revaluation of freehold property
-
8,091,138
-
8,091,138


Deferred tax movement on revalued property
-
(1,881,811)
-
(1,881,811)

Total comprehensive income for the year
-
6,209,327
226,418
6,435,745



At 30 June 2024
1,000
6,209,327
(1,582,851)
4,627,476



The notes on pages 4 to 11 form part of these financial statements.

Page 3
 


NINE GREENWICH HOTEL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Nine Greenwich Hotel Limited is a private company limited by shares, registered in England and Wales. The address of its registered office is disclosed on the company information page.
The presentation currency in the financial statements is GBP rounded to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the period end date, the company's liabilities exceed its assets, therefore the company is reliant on the continued support provided to it by the directors and group.
The group and its directors have confirmed that they have the intention and ability to support the Company untill the company has sufficient means to repay them. The directors consider that the company is able to meet its obligations as they fall due for the foreseeable future. As a result the accounts have been prepared on a going concern basis.  

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 


NINE GREENWICH HOTEL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 


NINE GREENWICH HOTEL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
Straight line
Plant and machinery
-
10%
Straight line
Fixtures and fittings
-
15%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 6

 


NINE GREENWICH HOTEL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.11

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 7

 


NINE GREENWICH HOTEL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 15 (2023 - 10).

Page 8

 


NINE GREENWICH HOTEL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 July 2023
9,567,506
615,986
352,203
10,535,695


Additions
5,250
23,500
2,948
31,698


Revaluations
7,527,244
-
-
7,527,244



At 30 June 2024

17,100,000
639,486
355,151
18,094,637



Depreciation


At 1 July 2023
382,700
122,718
105,435
610,853


Charge for the year on owned assets
181,194
63,949
53,273
298,416


On revalued assets
(563,894)
-
-
(563,894)



At 30 June 2024

-
186,667
158,708
345,375



Net book value



At 30 June 2024
17,100,000
452,819
196,443
17,749,262



At 30 June 2023
9,184,806
493,268
246,768
9,924,842

Freehold property was revalued in 2023 by Gerald Eve LLP, an independent and qualified chartered surveyors. These valuations are based on the qualified chartered surveyors local market knowledge and no significant assumptions are relied upon. It was valued as a fully-equipped operational entity with regard to its trading potential.
This was assessed in 2024 by the Directors and the value is still deemed reasonable at the year end. 
Included within freehold property is land valued at cost of £171,018.

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
9,572,756
9,567,506

Accumulated depreciation
(563,894)
(382,700)

Net book value
9,008,862
9,184,806

Page 9

 


NINE GREENWICH HOTEL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Debtors

2024
2023
£
£


Trade debtors
6,942
3,929

Other debtors
1,363,722
1,502

Prepayments and accrued income
120,027
152,100

1,490,691
157,531


Included within other debtors as at 30 June 2024 is an amount owed by the directors of £882,130 (2023 - £nil) and amounts due from connected companies of £418,700 (2023 - £nil). Both amounts are unsecured and interest free.


6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,077
7,409,222

Trade creditors
444,474
265,782

Amounts owed to group undertakings
2,917,554
2,965,000

Other taxation and social security
85,560
76,498

Other creditors
1,804,105
1,463,080

Accruals and deferred income
122,783
231,863

5,384,553
12,411,445


Bank loans totalling £10,077 (2023 - £7,409,222) are secured by fixed and floating charge over the Freehold Property.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
9,956,114
27,441

9,956,114
27,441


Bank loans totalling £9,956,114 (2023 - £27,441) are secured by fixed and floating charge over the Freehold Property.

Page 10

 


NINE GREENWICH HOTEL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. Contributions totalling £1,842 (2023 - £492) were payable to the fund at the reporting date and are included in creditors.


9.

Operating leases committed income

The company acts as a lessor in its relationship with a tenant.
Amounts due to the Company under committed operating leases as at the year end were as follows:

2024
2023
        £
        £
Within one year

72,000

72,000
 
Between 1-5 years

288,000

288,000
 
Over 5 years

812,880

884,880
 

1,172,880

1,244,880
 

The operating lease income recognised in the year was £72,000 (2023 - £72,000).


10.


Related party transactions

In the directors' opinion, transactions entered into with connected parties were carried out on an arms length basis.
The Company has taken advantage of the available exemption conferred by Section 33 of FRS 102 not to disclose transactions with wholly owned members of the Group.


11.


Controlling party

The company is a wholly owned subsidiary undertaking of Chadha Capital Investments Limited, a company incorporated in England and Wales. The registered office address of Chadha Capital Investments Limited is Vivek House, 65-67 Clarendon Road, Watford, WD17 1DS. 
The largest and smallest group in which results of the Company are consolidated is that headed by Chadha Capital Investments Limited. The consolidated financial statements are available from the Companies House website.


12.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 11 March 2025 by Andrew Galliers FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

Page 11