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Registered number: 10115221
Veritas Hotels Ltd
ABRIDGED Financial Statements
For The Year Ended 30 September 2024
Sinclair Day Accountancy Ltd
The Mill House, Court Farm, Church Lane
Norton
Worcester
WR5 2PS
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 10115221
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,188,327 2,208,745
Investments 5 201 201
2,188,528 2,208,946
CURRENT ASSETS
Debtors 572,494 500,407
Cash at bank and in hand 247,582 133,611
820,076 634,018
Creditors: Amounts Falling Due Within One Year (191,881 ) (162,011 )
NET CURRENT ASSETS (LIABILITIES) 628,195 472,007
TOTAL ASSETS LESS CURRENT LIABILITIES 2,816,723 2,680,953
Creditors: Amounts Falling Due After More Than One Year (2,201,942 ) (2,044,448 )
NET ASSETS 614,781 636,505
CAPITAL AND RESERVES
Called up share capital 6 200 200
Revaluation reserve 7 656,453 656,453
Profit and Loss Account (41,872 ) (20,148 )
SHAREHOLDERS' FUNDS 614,781 636,505
Page 1
Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 September 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr A Stevens
Director
23/05/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Veritas Hotels Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10115221 . The registered office is Stratton House Hotel, Gloucester Road, Cirencester, Gloucestershire, GL7 2LE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not depreciated
Improvements to Property Not depreciated
Fixtures & Fittings 12.5% straight line
2.4. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Total
£
Cost
As at 1 October 2023 2,366,465
Additions 26,605
As at 30 September 2024 2,393,070
Depreciation
As at 1 October 2023 157,720
Provided during the period 47,023
As at 30 September 2024 204,743
Net Book Value
As at 30 September 2024 2,188,327
As at 1 October 2023 2,208,745
5. Investments
Total
£
Cost
As at 1 October 2023 201
As at 30 September 2024 201
Provision
As at 1 October 2023 -
As at 30 September 2024 -
Net Book Value
As at 30 September 2024 201
As at 1 October 2023 201
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
7. Reserves
Revaluation Reserve
£
As at 1 October 2023 656,453
As at 30 September 2024 656,453
Page 4