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REGISTERED NUMBER: 10278082 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 July 2024

for

FIVE WAYS HOTEL GROUP LTD

FIVE WAYS HOTEL GROUP LTD (REGISTERED NUMBER: 10278082)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FIVE WAYS HOTEL GROUP LTD

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Harj Mattu





REGISTERED OFFICE: 97 Park Lane
Mayfair
London
W1K 7TG





REGISTERED NUMBER: 10278082 (England and Wales)





ACCOUNTANTS: Brindleys Limited
2 Wheeleys Road
Edgbaston
Birmingham
West Midlands
B15 2LD

FIVE WAYS HOTEL GROUP LTD (REGISTERED NUMBER: 10278082)

Statement of Financial Position
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 34,000,100 34,000,134
34,000,100 34,000,134

CURRENT ASSETS
Debtors 6 5,884,776 5,483,545
Cash at bank and in hand 19,569 5,595
5,904,345 5,489,140
CREDITORS
Amounts falling due within one year 7 10,063,715 8,093,544
NET CURRENT LIABILITIES (4,159,370 ) (2,604,404 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,840,730

31,395,730

CREDITORS
Amounts falling due after more than one year 8 (25,688,647 ) (25,347,701 )

PROVISIONS FOR LIABILITIES 11 (1,246,133 ) (1,235,834 )
NET ASSETS 2,905,950 4,812,195

CAPITAL AND RESERVES
Called up share capital 12 1 1
Revaluation reserve 13 9,850,000 9,850,000
Retained earnings 13 (6,944,051 ) (5,037,806 )
SHAREHOLDERS' FUNDS 2,905,950 4,812,195

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

FIVE WAYS HOTEL GROUP LTD (REGISTERED NUMBER: 10278082)

Statement of Financial Position - continued
31 July 2024


The 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 April 2025 and were signed by:





Harj Mattu - Director


FIVE WAYS HOTEL GROUP LTD (REGISTERED NUMBER: 10278082)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Five Ways Hotel Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

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.

Licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Not depreciated
Plant and machinery - 25% on reducing balance

Taxation
Taxation for the year 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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 year was NIL (2023 - NIL).

FIVE WAYS HOTEL GROUP LTD (REGISTERED NUMBER: 10278082)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. INTANGIBLE FIXED ASSETS
Goodwill Licences Totals
£    £    £   
COST
At 1 August 2023
and 31 July 2024 5,000 10,000 15,000
AMORTISATION
At 1 August 2023
and 31 July 2024 5,000 10,000 15,000
NET BOOK VALUE
At 31 July 2024 - - -
At 31 July 2023 - - -

5. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST OR VALUATION
At 1 August 2023
and 31 July 2024 34,000,000 1,000 34,001,000
DEPRECIATION
At 1 August 2023 - 866 866
Charge for year - 34 34
At 31 July 2024 - 900 900
NET BOOK VALUE
At 31 July 2024 34,000,000 100 34,000,100
At 31 July 2023 34,000,000 134 34,000,134

Cost or valuation at 31 July 2024 is represented by:

Freehold Plant and
property machinery Totals
£    £    £   
Valuation in 2019 9,850,000 - 9,850,000
Cost 24,150,000 1,000 24,151,000
34,000,000 1,000 34,001,000

FIVE WAYS HOTEL GROUP LTD (REGISTERED NUMBER: 10278082)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. TANGIBLE FIXED ASSETS - continued

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 24,150,000 24,150,000

Freehold property was valued on a fair value basis on 31 July 2021 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 5,831,727 5,449,571
Other debtors 52,749 -
VAT 300 -
Prepayments - 33,974
5,884,776 5,483,545

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 680,000 250,000
Other loans (see note 9) 9,381,915 7,842,043
Accrued expenses 1,800 1,501
10,063,715 8,093,544

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 16,150,000 16,175,925
Other loans (see note 9) 9,538,647 9,171,776
25,688,647 25,347,701

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 13,430,000 15,175,925
Other loans due over 5yrs 9,538,647 9,171,776
22,968,647 24,347,701

Included in Other loans, is a balance of £9,538,647 (2023: £9,171,776) which is due to Colmore Investments Ltd, a company registered in England (Company Number:09542639 ) and is repayable in six years. This is the net present value of the original loan outstanding of £10,317,000. The rate of interest used for the calculation is 4%.

FIVE WAYS HOTEL GROUP LTD (REGISTERED NUMBER: 10278082)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 680,000 250,000
Other loans 9,381,915 7,842,043
10,061,915 8,092,043

Amounts falling due between one and two years:
Bank loans - 1-2 years 680,000 250,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 2,040,000 750,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 13,430,000 15,175,925
Other loans due over 5yrs 9,538,647 9,171,776
22,968,647 24,347,701

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 16,830,000 16,425,925

The loan is secured against a fixed and floating charge on the assets of the company.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,246,133 1,235,834

FIVE WAYS HOTEL GROUP LTD (REGISTERED NUMBER: 10278082)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 August 2023 1,235,834
Provided during year 10,299
Balance at 31 July 2024 1,246,133

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary 1 1 1

13. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 August 2023 (5,037,806 ) 9,850,000 4,812,194
Deficit for the year (1,906,245 ) (1,906,245 )
At 31 July 2024 (6,944,051 ) 9,850,000 2,905,949

14. RELATED PARTY DISCLOSURES

At the year end, the company had outstanding loan of £18,920,562 (2023: £16,466,819) payable to its associated company, Colmore Investments Limited, a company registered in England and Wales. Out of this loan, £9,538,647 (2023: £9,171,776) is repayable in five years and the rest is repayable on demand.

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Ace Sino Group Ltd.