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REGISTERED NUMBER: 09542639 (England and Wales)



















Group Strategic Report,

Report of the Director and

Consolidated Financial Statements

for the Year Ended 31 March 2024

for

COLMORE INVESTMENTS LTD

COLMORE INVESTMENTS LTD (REGISTERED NUMBER: 09542639)






Contents of the Consolidated Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 5

Consolidated Profit and Loss Account and Other
Comprehensive Income

9

Consolidated Statement of Financial Position 10

Company Statement of Financial Position 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Statement of Cash Flows 14

Notes to the Consolidated Statement of Cash Flows 15

Notes to the Consolidated Financial Statements 16


COLMORE INVESTMENTS LTD

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Harj Mattu





REGISTERED OFFICE: 97 Park Lane
Mayfair
London
London
W1K 7TG





REGISTERED NUMBER: 09542639 (England and Wales)





AUDITORS: Brindleys Limited
Statutory Auditors
2 Wheeleys Road
Edgbaston
Birmingham
West Midlands
B15 2LD

COLMORE INVESTMENTS LTD (REGISTERED NUMBER: 09542639)

Group Strategic Report
for the Year Ended 31 March 2024

The director presents his strategic report of the company and the group for the year ended 31 March 2024.

PRINCIPAL ACTIVITY

The Company is an investment holding company and the principal activity of its subsidiary undertaking
continues to be the management of a four star hotel in the United Kingdom. The business conducted is principally the day-to-day managing of the hotel.

REVIEW OF BUSINESS
The Group has performed well during the year generating a profit before tax of £2,206,552 (2023: £2,529,429). The majority of the income is derived from the management and day-to-day running of the hotel. Also, there is notional interest receivable of £366,871 included in other operating income . The shareholder's funds of the group at year end date was £848,427 (2023:(£1,198,218)).

The future
Although the Group’s primary business model is owner/operator focused, the Group has significant hotel management experience. When it comes to hotels, restaurants, bars and spas, we believe in a bespoke approach. We tailor each product to the market to ensure that it has local relevance in order to maximise its potential.Our philosophy of providing a high quality experience with a strong focus on excellent service delivery, at great value to the guest.

PRINCIPAL RISKS AND UNCERTAINTIES
The group uses various financial instruments. These include director's loan accounts, cash and various items, such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the group's operations. The existence of these financial instruments exposes the company to a number of financial risks, which are described in more detail below.

Market risk
Market risk encompasses various types of risk, being liquidity risk and credit risk.

Liquidity risk
The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. Short- term flexibility is achieved by loans from directors.

Credit risk
The company's principal financial assets are trade debtors. The principal credit risk arises therefore from its trade debtors. Credit limits are reviewed by the directors on a regular basis.

ON BEHALF OF THE BOARD:





Harj Mattu - Director


16 April 2025

COLMORE INVESTMENTS LTD (REGISTERED NUMBER: 09542639)

Report of the Director
for the Year Ended 31 March 2024

The director presents his report with the financial statements of the company and the group for the year ended 31 March 2024.

DIVIDENDS
No dividends will be distributed for the year ended 31 March 2024.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTOR
Harj Mattu held office during the whole of the period from 1 April 2023 to the date of this report.

POLITICAL DONATIONS AND EXPENDITURE
No donations were made by the Group for political purposes during the year.

EMPLOYEE INVOLVEMENT
Regular meetings are held between local management and employees to allow a free flow of information and ideas.

DISABLED EMPLOYEES
The Company gives full consideration to applications for employment from disabled persons where the candidate's particular aptitudes and abilities are consistent with adequately meeting the requirements of the job. Opportunities are available to disabled employees for training, career development and promotion.

Where existing employees become disabled, it is the Company's policy to provide continuing employment wherever practicable in the same or an alternative position and to provide appropriate training to achieve this aim.

DISCLOSURE IN THE STRATEGIC REPORT
As permitted by Paragraph 1A of schedule 7 to the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 certain matters which are required to be disclosed in the directors' report have been omitted as they are included in the strategic report on page 2. These matters relate to review of business, principal risks and uncertainties and future developments.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

COLMORE INVESTMENTS LTD (REGISTERED NUMBER: 09542639)

Report of the Director
for the Year Ended 31 March 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Brindleys Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Harj Mattu - Director


16 April 2025

Report of the Independent Auditors to the Members of
Colmore Investments Ltd

Opinion
We have audited the financial statements of Colmore Investments Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Consolidated Profit and Loss Account and Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Colmore Investments Ltd


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Colmore Investments Ltd


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We have considered the nature of the Company's industry and its control environment, and reviewed the company's
documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also
enquired of management about their own identification and assessment of the risks of irregularities.

We obtained an understanding of the legal and regulatory framework that the company operates in, and identified the key laws and regulations that:
. had a direct effect on the determination of material amounts and disclosures in the financial statements. These included UK Companies Act, tax legislation etc; and
. do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within
organisation for fraud and how and where fraud might occur in the financial statements.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the
appropriateness of journal entries and other adjustments; assessed whether the judgements made in making the accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:
. reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
. performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
. enquiring of management and in-house legal counsel concerning actual and potential litigation and claims, and instances of non-compliance with laws and regulations; and
. reading minutes of meetings of those charged with governance.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Colmore Investments Ltd


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Sajjad Sumar (Senior Statutory Auditor)
for and on behalf of Brindleys Limited
Statutory Auditors
2 Wheeleys Road
Edgbaston
Birmingham
West Midlands
B15 2LD

16 April 2025

COLMORE INVESTMENTS LTD (REGISTERED NUMBER: 09542639)

Consolidated
Profit and Loss Account and
Other Comprehensive Income
for the Year Ended 31 March 2024

2024 2023
Notes £    £   

TURNOVER 11,920,357 12,073,443

Cost of sales 2,218,307 2,144,062
GROSS PROFIT 9,702,050 9,929,381

Administrative expenses 7,454,788 7,353,046
2,247,262 2,576,335

Other operating income 366,871 352,761
OPERATING PROFIT 5 2,614,133 2,929,096


Interest payable and similar expenses 7 407,581 399,667
PROFIT BEFORE TAXATION 2,206,552 2,529,429

Tax on profit 8 159,907 494,223
PROFIT FOR THE FINANCIAL YEAR 2,046,645 2,035,206

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

2,046,645

2,035,206

Profit attributable to:
Owners of the parent 2,046,645 2,035,206

Total comprehensive income attributable to:
Owners of the parent 2,046,645 2,035,206

COLMORE INVESTMENTS LTD (REGISTERED NUMBER: 09542639)

Consolidated Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 10 113,889 133,987
Investments 11 - -
113,889 133,987

CURRENT ASSETS
Stocks 12 34,799 46,190
Debtors 13 21,247,015 17,191,945
Cash at bank and in hand 511,473 2,108,560
21,793,287 19,346,695
CREDITORS
Amounts falling due within one year 14 10,351,816 10,386,481
NET CURRENT ASSETS 11,441,471 8,960,214
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,555,360

9,094,201

CREDITORS
Amounts falling due after more than one year 15 (10,699,999 ) (10,292,418 )

PROVISIONS FOR LIABILITIES 16 (6,933 ) -
NET ASSETS/(LIABILITIES) 848,428 (1,198,217 )

CAPITAL AND RESERVES
Called up share capital 17 1 1
Retained earnings 18 848,427 (1,198,218 )
SHAREHOLDERS' FUNDS 848,428 (1,198,217 )

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





Harj Mattu - Director


COLMORE INVESTMENTS LTD (REGISTERED NUMBER: 09542639)

Company Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 10 - -
Investments 11 100 100
100 100

CURRENT ASSETS
Debtors 13 18,556,366 16,672,563
Cash at bank and in hand 1,101 1,134
18,557,467 16,673,697
CREDITORS
Amounts falling due within one year 14 6,988,442 6,980,689
NET CURRENT ASSETS 11,569,025 9,693,008
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,569,125

9,693,108

CREDITORS
Amounts falling due after more than one year 15 12,214,984 10,292,418
NET LIABILITIES (645,859 ) (599,310 )

CAPITAL AND RESERVES
Called up share capital 17 1 1
Retained earnings 18 (645,860 ) (599,311 )
SHAREHOLDERS' FUNDS (645,859 ) (599,310 )

Company's loss for the financial year (46,549 ) (51,085 )

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

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





Harj Mattu - Director


COLMORE INVESTMENTS LTD (REGISTERED NUMBER: 09542639)

Consolidated Statement of Changes in Equity
for the Year Ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 1 (3,233,424 ) (3,233,423 )

Changes in equity
Total comprehensive income - 2,035,206 2,035,206
Balance at 31 March 2023 1 (1,198,218 ) (1,198,217 )

Changes in equity
Total comprehensive income - 2,046,645 2,046,645
Balance at 31 March 2024 1 848,427 848,428

COLMORE INVESTMENTS LTD (REGISTERED NUMBER: 09542639)

Company Statement of Changes in Equity
for the Year Ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 1 (548,226 ) (548,225 )

Changes in equity
Total comprehensive income - (51,085 ) (51,085 )
Balance at 31 March 2023 1 (599,311 ) (599,310 )

Changes in equity
Total comprehensive income - (46,549 ) (46,549 )
Balance at 31 March 2024 1 (645,860 ) (645,859 )

COLMORE INVESTMENTS LTD (REGISTERED NUMBER: 09542639)

Consolidated Statement of Cash Flows
for the Year Ended 31 March 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (1,189,506 ) 871,002
Interest paid (407,581 ) (399,667 )
Net cash from operating activities (1,597,087 ) 471,335

(Decrease)/increase in cash and cash equivalents (1,597,087 ) 471,335
Cash and cash equivalents at beginning of
year

2

2,108,560

1,637,225

Cash and cash equivalents at end of year 2 511,473 2,108,560

COLMORE INVESTMENTS LTD (REGISTERED NUMBER: 09542639)

Notes to the Consolidated Statement of Cash Flows
for the Year Ended 31 March 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 2,206,552 2,529,429
Depreciation charges 20,098 23,645
Finance costs 407,581 399,667
2,634,231 2,952,741
Decrease/(increase) in stocks 11,391 (12,590 )
Increase in trade and other debtors (4,208,045 ) (2,073,601 )
Increase in trade and other creditors 372,917 4,452
Cash generated from operations (1,189,506 ) 871,002

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 511,473 2,108,560
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 2,108,560 1,637,225


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 2,108,560 (1,597,087 ) 511,473
2,108,560 (1,597,087 ) 511,473
Total 2,108,560 (1,597,087 ) 511,473

COLMORE INVESTMENTS LTD (REGISTERED NUMBER: 09542639)

Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Colmore Investments 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The consolidated financial statements include the financial statements of the Company and its subsidiary undertakings made up to 31 March 2023. A subsidiary is an entity that is controlled by the parent. The results of the subsidiary undertakings are included in the consolidated profit and loss account from the date that control commences to the date that control ceases. Control is established when the Company has the power the govern the operating and financial policies of an entity so as to obtain benefits from ts activities. In assessing control, the Group takes into consideration potential voting rights that are currently exercisable.

In the parent financial statements, investments in subsidiaries, are carried at cost less impairment.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The turnover is derived from the hotel operations.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

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

Financial instruments
Trade and Other Debtors/Creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Subsequent to initial recognition, they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of instrument for a similar debt instrument.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the company's cash management are included as a component of cash and cash equivalents for the purpose only of the cash flow statement.

COLMORE INVESTMENTS LTD (REGISTERED NUMBER: 09542639)

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

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Profit and Loss Account and Other Comprehensive Income, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Holiday pay
Holiday pay is recognised as an expense in the period in which the service is received.

Functional and presentation currency
The functional and presentation currency of the group and the company is Great British Pound (£).

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making judgements about carrying value of assets and liabilities that are not readily apparent from other sources.

The estimates and underlying assumptions are reviewed on an ongoing basis.

COLMORE INVESTMENTS LTD (REGISTERED NUMBER: 09542639)

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

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 3,478,760 3,303,555
Social security costs 272,432 266,938
Other pension costs 77,758 65,359
3,828,950 3,635,852

The average number of employees during the year was as follows:
2024 2023

F & B 52 80
Front Office 30 33
House Keeping 72 64
Kitchen 24 24
Maintenance 9 8
Sales 22 19
Admin & HR 8 -
217 228

The average number of employees by undertakings that were proportionately consolidated during the year was 217 (2023 - 228 ) .

2024 2023
£    £   
Director's remuneration - -

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 16,593 11,520
Depreciation - owned assets 20,098 23,645

6. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

9,000

8,500

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Other Loan Interest 407,581 399,667

COLMORE INVESTMENTS LTD (REGISTERED NUMBER: 09542639)

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

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Deferred tax 159,907 494,223
Tax on profit 159,907 494,223

9. INDIVIDUAL PROFIT AND LOSS ACCOUNT AND OTHER COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


10. TANGIBLE FIXED ASSETS

Group
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 348,146
DEPRECIATION
At 1 April 2023 214,159
Charge for year 20,098
At 31 March 2024 234,257
NET BOOK VALUE
At 31 March 2024 113,889
At 31 March 2023 133,987

COLMORE INVESTMENTS LTD (REGISTERED NUMBER: 09542639)

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

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 100
NET BOOK VALUE
At 31 March 2024 100
At 31 March 2023 100


The group or the company's investments at the Statement of Financial Position date in the share capital of the company is as following:

Subsidiary

Staywell Hospitality Management Limited

Registered office: Park Regis Birmingham,160 Broad street, Fiveways, Birmingham,England, B15 1DT

Nature of Business: Hotel Management

%
Class of shares: holding
Ordinary 100

12. STOCKS

Group
2024 2023
£    £   
Stocks 34,799 46,190

13. DEBTORS

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year:
Trade debtors 145,943 415,536 - -
Other debtors 11,476,597 7,392,753 9,006,915 7,295,043
Deferred tax asset - 152,975 10,804 8,857
Prepayments 85,828 58,905 - -
11,708,368 8,020,169 9,017,719 7,303,900

COLMORE INVESTMENTS LTD (REGISTERED NUMBER: 09542639)

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

13. DEBTORS - continued

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings - - - 196,887
Other debtors 9,538,647 9,171,776 9,538,647 9,171,776
9,538,647 9,171,776 9,538,647 9,368,663

Aggregate amounts 21,247,015 17,191,945 18,556,366 16,672,563

Deferred tax asset
Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax - 152,975 10,804 8,857

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade creditors 1,285,959 1,071,152 - -
Social security and other taxes 60,860 55,122 - -
VAT 346,511 352,326 - -
Other creditors 7,836,431 8,037,252 6,972,936 6,972,936
Accrued expenses 822,055 870,629 15,506 7,753
10,351,816 10,386,481 6,988,442 6,980,689

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts owed to group undertakings - - 1,514,985 -
Other creditors 10,699,999 10,292,418 10,699,999 10,292,418
10,699,999 10,292,418 12,214,984 10,292,418

COLMORE INVESTMENTS LTD (REGISTERED NUMBER: 09542639)

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

16. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 6,933 -

Group
Deferred
tax
£   
Balance at 1 April 2023 (152,975 )
Provided during year 159,908
Balance at 31 March 2024 6,933

Company
Deferred
tax
£   
Balance at 1 April 2023 (8,857 )
Provided during year (1,947 )
Balance at 31 March 2024 (10,804 )

17. CALLED UP SHARE CAPITAL

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

Each share has one voting right.

18. RESERVES

Group
Retained
earnings
£   

At 1 April 2023 (1,198,218 )
Profit for the year 2,046,645
At 31 March 2024 848,427

COLMORE INVESTMENTS LTD (REGISTERED NUMBER: 09542639)

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

18. RESERVES - continued

Company
Retained
earnings
£   

At 1 April 2023 (599,311 )
Deficit for the year (46,549 )
At 31 March 2024 (645,860 )


19. ULTIMATE PARENT COMPANY

Ace Sino Group Limited (incorporated in British Virgin Islands ) is regarded by the director as being the company's ultimate parent company.

20. FINANCIAL COMMITMENTS

A charge in favour of National Westminster Bank PLC dated 18 April 2024 providing security over funds borrowed by the associated company, Five ways Hotel Group Limited containing a fixed and floating charge over all property and undertaking of the associated company.

21. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

COLMORE INVESTMENTS LTD (REGISTERED NUMBER: 09542639)

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

21. RELATED PARTY DISCLOSURES - continued

At the year end, the group had an outstanding loan of £7,309,941 (2023: £7,309,941) due to its ultimate controlling party, Ace Sino Group Ltd, which is registered in British Virgin Islands. This loan is repayable on demand.

At the year end, the company had an outstanding loan of £10,699,999 (2023: £10,292,418) due to Seven Capital Plc, which is registered in England. This loan is repayable over one year.

At the year end, the subsidiary had an outstanding loan of £18,545,562 (2023: £16,466,819) due from an associated company, Fiveways Hotel Group Ltd, which is registered in England. Out of this balance, £9,538,647 (2023: £9,171,776) is repayable in five years and the rest is repayable on demand.

During the year, the subsidiary company paid management charges of £279,672 (2023: £330,500) to an associated company Switch Hospitality Management Ltd, which is registered in England and Wales.

Other debtors included in note 13 of the financial statements represent balance of £9,538,647 (2023: £9,171,776) which is due from Five Ways Hotel Group Ltd, a company registered in England and Wales 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%.

Other creditors included in note 13 of the financial statements represent balance of £10,699,999 (2023: £10,292,418) which is due to Seven Capital Plc, a company registered in England (Company Number:07011445) and is repayable in over one year from the balance sheet date. This is the net present value of the original loan outstanding. The rate of interest used for the calculation is 4%.

22. AUDITOR LIABILITY LIMITATION AGREEMENT

We have agreed that our aggregate liability, whether to you or any other party, of whatever nature, whether in contract, tort or otherwise, for any losses whatsoever and howsoever caused arising from or in any way
connected with this engagement shall in no circumstances exceed ten times our agreed fee.

23. POST BALANCE SHEET EVENTS

There were no important events since the year end that require disclosure.