Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-272024-06-2725252023-06-28falseNo description of principal activityfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09276111 2023-06-28 2024-06-27 09276111 2022-06-28 2023-06-27 09276111 2024-06-27 09276111 2023-06-27 09276111 c:Director2 2023-06-28 2024-06-27 09276111 c:Director3 2023-06-28 2024-06-27 09276111 c:RegisteredOffice 2023-06-28 2024-06-27 09276111 d:Buildings 2023-06-28 2024-06-27 09276111 d:Buildings 2024-06-27 09276111 d:Buildings 2023-06-27 09276111 d:Buildings d:OwnedOrFreeholdAssets 2023-06-28 2024-06-27 09276111 d:FurnitureFittings 2023-06-28 2024-06-27 09276111 d:FurnitureFittings 2024-06-27 09276111 d:FurnitureFittings 2023-06-27 09276111 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-28 2024-06-27 09276111 d:OwnedOrFreeholdAssets 2023-06-28 2024-06-27 09276111 d:CurrentFinancialInstruments 2024-06-27 09276111 d:CurrentFinancialInstruments 2023-06-27 09276111 d:Non-currentFinancialInstruments 2024-06-27 09276111 d:Non-currentFinancialInstruments 2023-06-27 09276111 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-27 09276111 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-27 09276111 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-27 09276111 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-27 09276111 d:ShareCapital 2024-06-27 09276111 d:ShareCapital 2023-06-27 09276111 d:RevaluationReserve 2024-06-27 09276111 d:RevaluationReserve 2023-06-27 09276111 d:RetainedEarningsAccumulatedLosses 2024-06-27 09276111 d:RetainedEarningsAccumulatedLosses 2023-06-27 09276111 c:FRS102 2023-06-28 2024-06-27 09276111 c:AuditExempt-NoAccountantsReport 2023-06-28 2024-06-27 09276111 c:FullAccounts 2023-06-28 2024-06-27 09276111 c:PrivateLimitedCompanyLtd 2023-06-28 2024-06-27 09276111 5 2023-06-28 2024-06-27 09276111 e:PoundSterling 2023-06-28 2024-06-27 iso4217:GBP xbrli:pure
Company registration number: 09276111







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
27 JUNE 2024


NINE HOTEL VENTURES LIMITED






































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NINE HOTEL VENTURES LIMITED
 


 
COMPANY INFORMATION


Directors
G S Chadha 
J K Chadha 




Registered number
09276111



Registered office
Vivek House
65-67 Clarendon Road

Watford

WD17 1DS





 


NINE HOTEL VENTURES LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 8

 


NINE HOTEL VENTURES LIMITED
REGISTERED NUMBER:09276111



STATEMENT OF FINANCIAL POSITION
AS AT 27 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,371,456
5,459,100

  
5,371,456
5,459,100

Current assets
  

Stocks
  
-
39,675

Debtors: amounts falling due within one year
 5 
3,014,836
2,597,789

Cash at bank and in hand
  
190,977
369,397

  
3,205,813
3,006,861

Creditors: amounts falling due within one year
 6 
(1,340,178)
(1,343,032)

Net current assets
  
 
 
1,865,635
 
 
1,663,829

Total assets less current liabilities
  
7,237,091
7,122,929

Creditors: amounts falling due after more than one year
 7 
(3,505,798)
(3,830,734)

Provisions for liabilities
  

Deferred tax
  
(147,737)
-

  
 
 
(147,737)
 
 
-

Net assets
  
3,583,556
3,292,195

Page 1

 


NINE HOTEL VENTURES LIMITED
REGISTERED NUMBER:09276111


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 27 JUNE 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
  
2
2

Revaluation reserve
  
1,334,997
1,569,760

Profit and loss account
  
2,248,557
1,722,433

  
3,583,556
3,292,195


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 3 to 8 form part of these financial statements.

Page 2

 


NINE HOTEL VENTURES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 JUNE 2024

1.


General information

Nine Hotel Ventures Limited is a private company, limited by shares, registered in England and Wales. The company's registration number and registered office address can be found on the company information page.

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

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.

 
2.3

Borrowing costs

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

Page 3

 


NINE HOTEL VENTURES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 JUNE 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

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.

Page 4

 


NINE HOTEL VENTURES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 JUNE 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

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
Fixtures and fittings
-
25%
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.

 
2.7

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.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

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.

 
2.10

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.

Page 5

 


NINE HOTEL VENTURES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 JUNE 2024

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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 25 (2023 - 25).

Page 6

 


NINE HOTEL VENTURES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 JUNE 2024

4.


Tangible fixed assets





Freehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 28 June 2023
5,870,000
-
5,870,000


Transfers between classes
-
39,675
39,675



At 27 June 2024

5,870,000
39,675
5,909,675



Depreciation


At 28 June 2023
410,900
-
410,900


Charge for the year on owned assets
117,400
9,919
127,319



At 27 June 2024

528,300
9,919
538,219



Net book value



At 27 June 2024
5,341,700
29,756
5,371,456



At 27 June 2023
5,459,100
-
5,459,100

Transfers between classes relate to the reclassification of capital items that had been included in work in progress stock in the prior year. 


5.


Debtors

2024
2023
£
£


Trade debtors
25,852
17,431

Other debtors
2,964,630
1,681,533

Prepayments and accrued income
24,354
709,668

Deferred taxation
-
189,157

3,014,836
2,597,789


Page 7

 


NINE HOTEL VENTURES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 JUNE 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
5,128
107,128

Trade creditors
170,340
196,485

Corporation tax
522,426
253,495

Other taxation and social security
69,855
51,997

Other creditors
504,238
624,101

Accruals and deferred income
68,191
109,826

1,340,178
1,343,032



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
3,505,798
3,830,734

3,505,798
3,830,734


The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:

2024
2023
£
£


Repayable by instalments
8,693
3,401,129

8,693
3,401,129




8.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions totalling £2,926 (2023 - £1,143) were due at the reporting date and included in other creditors.


9.


Transactions with directors

At the year end, included with debtors falling due under one year were amounts due to the company from the directors amounting to £10,000 (2023 - £350,000). No interest is charged on the loan balance which is repayable on demand.


10.


Controlling party

The directors consider G S Chadha to be the ultimate controlling party. 
Page 8