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Registered number: 03184736














ASHFORD LEISURE LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

 
ASHFORD LEISURE LIMITED
 

CONTENTS



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


 
ASHFORD LEISURE LIMITED
REGISTERED NUMBER:03184736

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,841,570
1,877,756

Current assets
  

Debtors: amounts falling due within one year
 5 
511,756
433,370

Cash at bank and in hand
  
15,838
213,696

  
527,594
647,066

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(333,720)
(429,462)

Net current assets
  
 
 
193,874
 
 
217,604

Total assets less current liabilities
  
2,035,444
2,095,360

Creditors: amounts falling due after more than one year
 7 
(776,668)
(837,778)

Provisions for liabilities
  

Deferred tax
 9 
(12,300)
(12,350)

Net assets
  
1,246,476
1,245,232


Capital and reserves
  

Called up share capital 
 10 
100
100

Non distributable fair value reserve
  
482,400
482,400

Profit & loss account
  
763,976
762,732

  
1,246,476
1,245,232


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 on 29 April 2025.


Page 1

 
ASHFORD LEISURE LIMITED
REGISTERED NUMBER:03184736
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024

A H J Rivers
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
ASHFORD LEISURE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Ashford Leisure Limited is a private limited liability company incorporated in England and Wales with its registered office and principal place of business at 16 Lambton Place, London, W11 2SH.
The Company's principal activity during the year continued to be that of operating a hotel.
The Company's functional and presentational currency is £ Sterling.

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 recognition

Turnover comprises revenue recognised by the Company in respect of services supplied during the year, exclusive of Value Added Tax and trade discounts. 
Hotel revenue is recognised according to the date of occupancy.

 
2.3

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.

Land is not depreciated. 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 & machinery
-
20%
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.

 
2.4

Revaluation of tangible fixed assets

Long term leasehold property held at valuation at the date of transition to FRS102 is stated at deemed cost less accumulated depreciation and accumulated impairment costs.

Page 3

 
ASHFORD LEISURE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

Debtors

Short term debtors are measured at the transaction price, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

 
2.7

Creditors

Short term creditors are measured at the transaction price. 

 
2.8

Interest income

Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.

 
2.9

Borrowing costs

All borrowing costs are recognised in  the Statement of Comprehensive Income in the year in which they are incurred.

 
2.10

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.




Page 4

 
ASHFORD LEISURE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.11

Pensions

Defined contribution pension plan
The Company contributes to 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  the Statement of Comprehensive Income 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 15 (2023 - 9).


4.


Tangible fixed assets





Freehold property
Plant & machinery
Total

£
£
£



Cost or valuation


At 1 August 2023
2,531,208
216,558
2,747,766


Additions
-
14,137
14,137



At 31 July 2024

2,531,208
230,695
2,761,903



Depreciation


At 1 August 2023
702,855
167,155
870,010


Charge for the year on owned assets
35,986
14,337
50,323



At 31 July 2024

738,841
181,492
920,333



Net book value



At 31 July 2024
1,792,367
49,203
1,841,570



At 31 July 2023
1,828,353
49,403
1,877,756


5.


Debtors

2024
2023
£
£

Amounts owed by parent company
284,835
245,722
Page 5

 
ASHFORD LEISURE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.Debtors (continued)


Other debtors
157,900
149,922

Prepayments and accrued income
69,021
37,726

511,756
433,370



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loan
61,111
61,111

Trade creditors
124,161
64,981

Amounts owed to group undertakings
-
1,000

Taxation and social security
52,939
109,254

Other creditors
79,617
104,293

Accruals and deferred income
15,892
88,823

333,720
429,462


The bank loan is secured by fixed and floating charges over the assets of the Company.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loan
66,668
127,778

Other creditors
710,000
710,000

776,668
837,778


The bank loan is secured by fixed and floating charges over the assets of the Company.

Page 6

 
ASHFORD LEISURE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loan
61,111
61,111

Amounts falling due 1-2 years

Bank loan
61,112
61,111

Amounts falling due 2-5 years

Bank loan
5,556
66,668


127,779
188,890


Page 7

 
ASHFORD LEISURE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Deferred taxation




2024


£



At beginning of year
12,350


Charged to profit or loss
(50)



At end of year
12,300

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
12,300
12,350


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1 each
100
100



11.


Controlling party

The directors regard Ultraswift Limited, a company registered in England and Wales, as the ultimate parent undertaking. Ultraswift Limited is controlled by A J Rivers.

 
Page 8