|
|
|
|
Consolidated Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' report |
2 |
Independent auditor's report to the members |
4 |
Consolidated statement of 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 financial statements |
15 |
|
Strategic Report |
Director |
Registered office: |
|
Directors' Report |
|
|
|
(Appointed
|
|
Director |
Registered office: |
|
|
|
|
|
Independent Auditor's Report to the Members of
|
|
(Senior Statutory Auditor) |
For and on behalf of |
|
Chartered accountants & statutory auditor |
Suite 1, First Floor |
1 Duchess Street |
London |
W1W 6AN |
|
Consolidated Statement of Comprehensive Income |
2023 |
2022 |
||
Note |
£ |
£ |
|
Turnover |
4 |
|
|
Cost of sales |
|
|
------------- |
------------ |
|
Gross profit |
|
|
Administrative expenses |
|
|
|
------------ |
------------ |
||
Operating loss |
5 |
(
|
(
|
Other interest receivable and similar income |
8 |
|
(
|
Interest payable and similar expenses |
9 |
|
|
------------ |
------------ |
||
Loss before taxation |
(
|
(
|
|
Tax on loss |
– |
– |
------------ |
------------ |
|
Loss for the financial year and total comprehensive income |
(
|
(
|
------------ |
------------ |
|
|
Consolidated Statement of Financial Position |
2023 |
2022 |
|
Note |
£ |
£ |
Negative goodwill |
10 |
(
|
(
|
Tangible assets |
11 |
|
|
------------- |
------------- |
||
|
|
||
Stocks |
13 |
|
|
Debtors |
14 |
|
|
Cash at bank and in hand |
|
|
|
------------ |
------------ |
||
|
|
||
Creditors: amounts falling due within one year |
15 |
|
|
------------- |
------------- |
||
Net current liabilities |
|
|
|
------------- |
------------- |
||
Total assets less current liabilities |
|
(
|
|
------------ |
------------ |
||
Net assets/(liabilities) |
|
(
|
|
------------ |
------------ |
||
Called up share capital |
19 |
|
|
Profit and loss account |
(
|
(
|
|
------------- |
------------ |
||
Shareholders funds/(deficit) |
|
(
|
|
------------- |
------------ |
||
|
Director |
|
Company Statement of Financial Position |
2023 |
2022 |
|
Note |
£ |
£ |
Tangible assets |
11 |
|
– |
Investments |
12 |
|
|
------------- |
------------- |
||
|
|
||
Debtors |
14 |
|
|
Cash at bank and in hand |
|
|
|
--------- |
--------- |
||
|
|
||
Creditors: amounts falling due within one year |
15 |
|
|
--------- |
------------- |
||
Net current liabilities |
|
|
|
------------- |
------------- |
||
Total assets less current liabilities |
|
(
|
|
------------- |
------------ |
||
Net assets/(liabilities) |
|
(
|
|
------------- |
------------ |
||
Called up share capital |
19 |
|
|
Profit and loss account |
(
|
(
|
|
------------- |
------------ |
||
Shareholders funds/(deficit) |
|
(
|
|
------------- |
------------ |
||
|
Director |
|
Consolidated Statement of Changes in Equity |
Called up share capital |
Profit and loss account |
Total |
|
£ |
£ |
£ |
|
At 1 January 2022 |
– |
– |
– |
Loss for the year |
(
|
(
|
|
---- |
------------ |
------------ |
|
Total comprehensive income for the year |
– |
(
|
(
|
Issue of shares |
|
– |
|
---- |
------------ |
------------ |
|
Total investments by and distributions to owners |
|
– |
|
At 31 December 2022 |
|
(
|
(
|
Loss for the year |
(
|
(
|
|
---- |
------------ |
------------ |
|
Total comprehensive income for the year |
– |
(
|
(
|
Issue of shares |
|
– |
|
------------- |
---- |
------------- |
|
Total investments by and distributions to owners |
|
– |
|
------------- |
------------ |
------------- |
|
At 31 December 2023 |
|
(
|
|
------------- |
------------ |
------------- |
|
|
Company Statement of Changes in Equity |
Called up share capital |
Profit and loss account |
Total |
|
£ |
£ |
£ |
|
At 1 January 2022 |
– |
– |
– |
Loss for the year |
(
|
(
|
|
---- |
------------ |
------------ |
|
Total comprehensive income for the year |
– |
(
|
(
|
Issue of shares |
|
– |
|
---- |
------------ |
------------ |
|
Total investments by and distributions to owners |
|
– |
|
At 31 December 2022 |
|
(
|
(
|
Loss for the year |
(
|
(
|
|
---- |
------------ |
------------ |
|
Total comprehensive income for the year |
– |
(
|
(
|
Issue of shares |
|
– |
|
------------- |
---- |
------------- |
|
Total investments by and distributions to owners |
|
– |
|
------------- |
------------ |
------------- |
|
At 31 December 2023 |
|
(
|
|
------------- |
------------ |
------------- |
|
|
Consolidated Statement of Cash Flows |
2023 |
2022 |
|
£ |
£ |
|
Loss for the financial year |
(
|
(
|
Adjustments for: |
||
Amortisation of intangible assets |
(
|
(
|
Other interest receivable and similar income |
(
|
|
Interest payable and similar expenses |
|
|
Accrued (income)/expenses |
(
|
|
Changes in: |
||
Stocks |
(
|
(
|
Trade and other debtors |
(
|
(
|
Trade and other creditors |
|
|
------------ |
------------ |
|
Cash generated from operations |
|
(
|
Interest paid |
(
|
(
|
Interest received |
|
(
|
------------ |
--------- |
|
Net cash used in operating activities |
(
|
(
|
------------ |
--------- |
|
Purchase of tangible assets |
(
|
(
|
------------ |
------------- |
|
Net cash used in investing activities |
(
|
(
|
------------ |
------------- |
|
Proceeds from issue of ordinary shares |
|
|
Proceeds from borrowings |
(
|
|
Proceeds from loans from group undertakings |
(
|
|
------------- |
------------- |
|
Net cash from financing activities |
|
|
------------- |
------------- |
|
Net (decrease)/increase in cash and cash equivalents |
(
|
|
Cash and cash equivalents at beginning of year |
2,074,033 |
– |
------------ |
------------ |
|
Cash and cash equivalents at end of year |
|
|
------------ |
------------ |
|
|
Notes to the Consolidated Financial Statements |
Goodwill |
- |
|
|
2023 |
2022 |
|
£ |
£ |
|
Hotel related services |
|
|
------------- |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Amortisation of intangible assets |
(
|
(
|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Fees payable for the audit of the consolidated financial statements |
|
– |
-------- |
---- |
|
2023 |
2022 |
|
No. |
No. |
|
Administrative staff |
|
|
---- |
---- |
|
2023 |
2022 |
|
£ |
£ |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
------------ |
--------- |
|
|
|
|
------------ |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Interest from group undertakings |
– |
(
|
Other interest receivable and similar income |
|
– |
---- |
------- |
|
|
(
|
|
---- |
------- |
|
2023 |
2022 |
|
£ |
£ |
|
Other interest payable and similar charges |
|
|
------------ |
--------- |
|
Group |
Goodwill |
£ |
|
Cost |
|
At 1 January 2023 and 31 December 2023 |
(
|
--------- |
|
Amortisation |
|
At 1 January 2023 |
(
|
Charge for the year |
(
|
--------- |
|
At 31 December 2023 |
(
|
--------- |
|
Carrying amount |
|
At 31 December 2023 |
(
|
--------- |
|
At 31 December 2022 |
(
|
--------- |
|
Group |
Long leasehold property |
Plant and machinery |
Equipment |
Total |
£ |
£ |
£ |
£ |
|
Cost |
||||
At 1 January 2023 |
|
– |
– |
|
Additions |
– |
|
|
|
------------- |
--------- |
--------- |
------------- |
|
At 31 December 2023 |
|
|
|
|
------------- |
--------- |
--------- |
------------- |
|
Depreciation |
||||
At 1 January 2023 and 31 December 2023 |
– |
– |
– |
– |
------------- |
--------- |
--------- |
------------- |
|
Carrying amount |
||||
At 31 December 2023 |
|
|
|
|
------------- |
--------- |
--------- |
------------- |
|
At 31 December 2022 |
|
– |
– |
|
------------- |
--------- |
--------- |
------------- |
|
Company |
Equipment |
£ |
|
Cost |
|
At 1 January 2023 |
– |
Additions |
|
--------- |
|
At 31 December 2023 |
|
--------- |
|
Depreciation |
|
At 1 January 2023 and 31 December 2023 |
– |
--------- |
|
Carrying amount |
|
At 31 December 2023 |
|
--------- |
|
At 31 December 2022 |
– |
--------- |
|
Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 January 2023 |
|
Additions |
|
Revaluations |
(
|
------------- |
|
At 31 December 2023 |
|
------------- |
|
Impairment |
|
At 1 January 2023 and 31 December 2023 |
– |
------------- |
|
Carrying amount |
|
At 31 December 2023 |
|
------------- |
|
At 31 December 2022 |
|
------------- |
|
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
|
Ordinary |
100 |
|
Ordinary |
100 |
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Finished goods and goods for resale |
|
|
– |
– |
-------- |
-------- |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
– |
– |
Amounts owed by group undertakings |
– |
– |
|
|
Deferred tax asset |
|
|
– |
– |
Prepayments and accrued income |
|
|
– |
– |
Other debtors |
|
|
|
– |
------------ |
------------ |
-------- |
--------- |
|
|
|
|
|
|
------------ |
------------ |
-------- |
--------- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
– |
– |
Trade creditors |
|
|
|
– |
Amounts owed to group undertakings |
|
|
|
|
Accruals and deferred income |
|
|
|
– |
Social security and other taxes |
|
|
– |
– |
Other creditors |
|
|
– |
– |
------------- |
------------- |
--------- |
------------- |
|
|
|
|
|
|
------------- |
------------- |
--------- |
------------- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Included in debtors (note 14) |
|
|
– |
– |
--------- |
--------- |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
(
|
(
|
– |
– |
--------- |
--------- |
---- |
---- |
|
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
12,889,512 |
|
100 |
------------- |
------------- |
---- |
---- |
|
At 1 Jan 2023 |
Cash flows |
At 31 Dec 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(1,790,523) |
|
Debt due within one year |
(32,072,966) |
12,692,903 |
(19,380,063) |
------------- |
------------- |
------------- |
|
(
|
|
(
|
|
------------- |
------------- |
------------- |
|