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Registration number: 02108493

Mint Hotels Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Mint Hotels Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Mint Hotels Limited

(Registration number: 02108493)
Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

429,877

424,200

Investments

6

154,315

154,315

 

584,192

578,515

Current assets

 

Stocks

7

18,832

18,089

Debtors

8

26,154

27,029

Investments

9

12,637

11,743

Cash at bank and in hand

 

851,519

816,809

 

909,142

873,670

Creditors: Amounts falling due within one year

10

(202,073)

(210,685)

Net current assets

 

707,069

662,985

Total assets less current liabilities

 

1,291,261

1,241,500

Creditors: Amounts falling due after more than one year

10

(154,315)

(154,315)

Provisions for liabilities

(24,617)

(23,513)

Net assets

 

1,112,329

1,063,672

Capital and reserves

 

Called up share capital

32,524

32,524

Retained earnings

1,079,805

1,031,148

Shareholders' funds

 

1,112,329

1,063,672

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Mint Hotels Limited

(Registration number: 02108493)
Statement of Financial Position as at 31 December 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Income and Retained Earnings.

Approved and authorised by the Board on 28 March 2025 and signed on its behalf by:
 

.........................................
A J Gee
Director

   
     
 

Mint Hotels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Owls At Standish
Rectory Lane Standish
Wigan
Lancashire
WN6 0XD
United Kingdom

These financial statements were authorised for issue by the Board on 28 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of food and drink in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Mint Hotels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tax

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

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any accumulated depreciation and subsequent impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Fixtures and fittings

10% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded are initially measured at fair value, with changes in fair value recognised in profit or loss.

 

Mint Hotels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of income and retained earnings over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Mint Hotels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 57 (2023 - 54).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

18,977

17,854

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

304,618

255,154

480,973

1,040,745

Additions

1,090

219

23,345

24,654

At 31 December 2024

305,708

255,373

504,318

1,065,399

Depreciation

At 1 January 2024

-

205,451

411,094

616,545

Charge for the year

-

4,992

13,985

18,977

At 31 December 2024

-

210,443

425,079

635,522

Carrying amount

At 31 December 2024

305,708

44,930

79,239

429,877

At 31 December 2023

304,618

49,703

69,879

424,200

 

Mint Hotels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Investments

2024
£

2023
£

Investments in group undertakings

154,315

154,315

Investment in group undertakings

£

Cost

At 1 January 2024

154,315

Provision

Carrying amount

At 31 December 2024

154,315

At 31 December 2023

154,315

The company owns 100% of the issued share capital of Spikemass Limited which remains dormant during the year. For the year ended 31 December 2024, Spikemass Limited made no profit or loss and had aggregate share capital and reserves of £154,315.

7

Stocks

2024
£

2023
£

Food and liquor

18,832

18,089

8

Debtors

2024
£

2023
£

Other debtors

26,154

27,029

26,154

27,029

9

Current asset investments

2024
£

2023
£

Other investments

12,637

11,743

Investments having a market value of £12,637 (2023: £11,743) are listed on a recognised stock exchange, their original cost price was £2,554 (2023: 2,554).

 

Mint Hotels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

10

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

218

12,835

Trade creditors

 

55,184

40,017

Taxation and social security

 

83,256

80,456

Other creditors

 

63,415

77,377

 

202,073

210,685

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Amounts owed to subsidiary undertaking

154,315

154,315