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REGISTERED NUMBER: 04856219 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Hotel I Limited

Hotel I Limited (Registered number: 04856219)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hotel I Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mrs E Anacreonte
R F Anacreonte





SECRETARY: Mrs E Anacreonte





REGISTERED OFFICE: Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE





REGISTERED NUMBER: 04856219 (England and Wales)





ACCOUNTANTS: Cartwrights
Chartered Accountants and Business Advisors
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE

Hotel I Limited (Registered number: 04856219)

Balance Sheet
31 August 2024

31/8/24 31/8/23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 5,337,430 5,395,845

CURRENT ASSETS
Debtors 5 9,065 40
Cash at bank 9,363 319,749
18,428 319,789
CREDITORS
Amounts falling due within one year 6 1,812,866 2,305,720
NET CURRENT LIABILITIES (1,794,438 ) (1,985,931 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,542,992

3,409,914

CREDITORS
Amounts falling due after more than one
year

7

(1,344,751

)

(1,201,141

)

PROVISIONS FOR LIABILITIES (12,329 ) (12,951 )
NET ASSETS 2,185,912 2,195,822

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 2,024,379 2,024,379
Retained earnings 161,433 171,343
2,185,912 2,195,822

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

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

The directors acknowledge their 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.

Hotel I Limited (Registered number: 04856219)

Balance Sheet - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2025 and were signed on its behalf by:




R F Anacreonte - Director



Mrs E Anacreonte - Director


Hotel I Limited (Registered number: 04856219)

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

1. STATUTORY INFORMATION

Hotel I Limited 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.

Turnover
Turnover represents amount receivable for rental services from the company's freehold property, excluding discounts. Rental income is recognised to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% Reducing balance and 15% reducing balance method

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Financial instruments
The company has applied the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis to realise the asset and the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Hotel I Limited (Registered number: 04856219)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 September 2023 5,050,000 1,380,721 6,430,721
Additions - 5,620 5,620
At 31 August 2024 5,050,000 1,386,341 6,436,341
DEPRECIATION
At 1 September 2023 - 1,034,876 1,034,876
Charge for year - 64,035 64,035
At 31 August 2024 - 1,098,911 1,098,911
NET BOOK VALUE
At 31 August 2024 5,050,000 287,430 5,337,430
At 31 August 2023 5,050,000 345,845 5,395,845

Cost or valuation at 31 August 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2022 4,409,994 1,386,341 5,796,335
Valuation in 2023 640,006 - 640,006
5,050,000 1,386,341 6,436,341

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Amounts owed by group undertakings - 40
Other debtors 9,065 -
9,065 40

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Bank loans and overdrafts 262,952 297,012
Trade creditors 22,633 59,398
Amounts owed to group undertakings 563,543 553,417
Taxation and social security 733 3,008
Other creditors 963,005 1,392,885
1,812,866 2,305,720

Hotel I Limited (Registered number: 04856219)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/8/24 31/8/23
£    £   
Bank loans 1,344,751 1,201,141

8. SECURED DEBTS

The following secured debts are included within creditors:

31/8/24 31/8/23
£    £   
Bank loans 1,607,695 1,498,153

The bank loan from The Co-Operative Bank is secured by fixed and floating charges over all the assets of the company. The loan is repayable within 60 months of drawdown which was in July 2023. The interest rate on the loan is 3.25% above the Bank of England's published base rate.

The directors have also given a personal guarantee to the bank limited to £530,000.

9. RESERVES
Revaluation
reserve
£   
At 1 September 2023
and 31 August 2024 2,024,379

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date, the company owed the director, Mr R Anacreonte £142,898 (2023 : £490,474).

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £40,000 were paid to the directors .

Included within other creditors is a balance owed to Anacreonte Properties Ltd of £0 (2023 : £300,000). Mr R Anacreonte is also a director of this company.

12. ULTIMATE CONTROLLING PARTY

The controlling party is Icon Holdings Group Ltd.

The directors are the ultimate controlling parties.

13. REVALUATION

The property was professionally revalued by Avison Young, who are not connected with the company, in May 2023. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The directors are of the opinion that the current market value of the investment property is not significantly different from that reflected in this financial statements.