Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31false582024-01-01provision of hotel services56falsefalsefalse 01690203 2024-01-01 2024-12-31 01690203 2023-01-01 2023-12-31 01690203 2024-12-31 01690203 2023-12-31 01690203 2023-01-01 01690203 2 2024-01-01 2024-12-31 01690203 2 2023-01-01 2023-12-31 01690203 5 2024-01-01 2024-12-31 01690203 5 2023-01-01 2023-12-31 01690203 d:CompanySecretary1 2024-01-01 2024-12-31 01690203 d:Director1 2024-01-01 2024-12-31 01690203 d:Director2 2024-01-01 2024-12-31 01690203 d:RegisteredOffice 2024-01-01 2024-12-31 01690203 e:Buildings 2024-01-01 2024-12-31 01690203 e:Buildings 2024-12-31 01690203 e:Buildings 2023-12-31 01690203 e:Buildings e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01690203 e:Buildings e:LongLeaseholdAssets 2024-01-01 2024-12-31 01690203 e:Buildings e:ShortLeaseholdAssets 2024-01-01 2024-12-31 01690203 e:PlantMachinery 2024-01-01 2024-12-31 01690203 e:PlantMachinery 2024-12-31 01690203 e:PlantMachinery 2023-12-31 01690203 e:PlantMachinery e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01690203 e:FurnitureFittings 2024-01-01 2024-12-31 01690203 e:FurnitureFittings 2024-12-31 01690203 e:FurnitureFittings 2023-12-31 01690203 e:FurnitureFittings e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01690203 e:ComputerEquipment 2024-01-01 2024-12-31 01690203 e:ComputerEquipment 2024-12-31 01690203 e:ComputerEquipment 2023-12-31 01690203 e:ComputerEquipment e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01690203 e:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 01690203 e:OtherPropertyPlantEquipment 2024-12-31 01690203 e:OtherPropertyPlantEquipment 2023-12-31 01690203 e:OtherPropertyPlantEquipment e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01690203 e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01690203 e:CurrentFinancialInstruments 2024-12-31 01690203 e:CurrentFinancialInstruments 2023-12-31 01690203 e:CurrentFinancialInstruments e:WithinOneYear 2024-12-31 01690203 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 01690203 e:ReportableOperatingSegment1 2024-01-01 2024-12-31 01690203 e:ReportableOperatingSegment1 2023-01-01 2023-12-31 01690203 e:ReportableOperatingSegment2 2024-01-01 2024-12-31 01690203 e:ReportableOperatingSegment2 2023-01-01 2023-12-31 01690203 f:UnitedKingdom 2024-01-01 2024-12-31 01690203 f:UnitedKingdom 2023-01-01 2023-12-31 01690203 e:UKTax 2024-01-01 2024-12-31 01690203 e:UKTax 2023-01-01 2023-12-31 01690203 e:ShareCapital 2024-01-01 2024-12-31 01690203 e:ShareCapital 2024-12-31 01690203 e:ShareCapital 2023-01-01 2023-12-31 01690203 e:ShareCapital 2023-12-31 01690203 e:ShareCapital 2023-01-01 01690203 e:CapitalRedemptionReserve 2024-01-01 2024-12-31 01690203 e:CapitalRedemptionReserve 2024-12-31 01690203 e:CapitalRedemptionReserve 2023-01-01 2023-12-31 01690203 e:CapitalRedemptionReserve 2023-12-31 01690203 e:CapitalRedemptionReserve 2023-01-01 01690203 e:RevaluationReserve 2024-01-01 2024-12-31 01690203 e:RevaluationReserve 2024-12-31 01690203 e:RevaluationReserve 2023-01-01 2023-12-31 01690203 e:RevaluationReserve 2023-12-31 01690203 e:RevaluationReserve 2023-01-01 01690203 e:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 01690203 e:RetainedEarningsAccumulatedLosses 2024-12-31 01690203 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 01690203 e:RetainedEarningsAccumulatedLosses 2023-12-31 01690203 e:RetainedEarningsAccumulatedLosses 2023-01-01 01690203 e:AcceleratedTaxDepreciationDeferredTax 2024-12-31 01690203 e:AcceleratedTaxDepreciationDeferredTax 2023-12-31 01690203 e:TaxLossesCarry-forwardsDeferredTax 2024-12-31 01690203 e:TaxLossesCarry-forwardsDeferredTax 2023-12-31 01690203 e:RetirementBenefitObligationsDeferredTax 2024-12-31 01690203 e:RetirementBenefitObligationsDeferredTax 2023-12-31 01690203 e:OtherDeferredTax 2024-12-31 01690203 e:OtherDeferredTax 2023-12-31 01690203 d:FRS102 2024-01-01 2024-12-31 01690203 d:Audited 2024-01-01 2024-12-31 01690203 d:FullAccounts 2024-01-01 2024-12-31 01690203 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01690203 2 2024-01-01 2024-12-31 01690203 g:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure
Company registration number: 01690203







ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024


GUIDEZONE LIMITED






































img38dc.png                        

 


GUIDEZONE LIMITED
 


 
COMPANY INFORMATION


Directors
H Kaneria 
P Kaneria 




Company secretary
H Kaneria



Registered number
01690203



Registered office
Ambassadors Bloomsbury Hotel
12 Upper Woburn Place

London

WC1H 0HX






Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

95 Gresham Street

City of London

London

EC2V 7AB





 


GUIDEZONE LIMITED
 



CONTENTS



Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditors' report
5 - 8
Statement of comprehensive income
9
Statement of financial position
10
Statement of changes in equity
11
Statement of cash flows
12
Analysis of net debt
13
Notes to the financial statements
14 - 23


 


GUIDEZONE LIMITED
 


 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

Introduction
 
The results for the 12 months and the financial position of the Company are shown in the financial statements.

Business review
 
The average monthly number of employees (excluding directors) was 56 compared to 54 in the previous year.
Following 3 years of detailed planning and design in relation to hotel refurbishment work finally started on site beginning of March 2024. The whole refurbishment was completed in phases within 12 months by end of February 2025. Guestrooms were scheduled to be completed floor by floor whereas other areas such as meeting & event spaces and public areas had to be shut completely to allow refurbishment to be carried out in these areas.
Revenue decreased from £6,190,698 in 2023 to £5,856,527 in 2024 a decrease of 5.4%. Key reason for this decrease was disruption to hotel operation during refurbishment. Pleased to say effect on the revenue due to refurbishment was less than originally expected. Loss of revenue from closing meeting & event spaces during refurbishment was partially offset by strong performance from guestrooms. This is despite losing 20% of guestroom stock throughout period of refurbishment.
ADR (Average Room Rate) increased by 3.33% and Occupancy also increased by 6.88% in 2024 compared to 2023. However, it is not possible to compare these two KPI with the previous year. This is due to lower inventory affected by hotel refurbishment during which several guestrooms were blocked.
During the year the Company continued to take steps to reduce costs wherever possible. However, payroll (excluding directors) as a percentage of revenue increased to 35.19% in 2024 (31.79% in 2023). Increase in the National Living Wage from £10.42 to £11.44 per hour from April 2024 also had its effect on the overall payroll percentage.
As a result, operating profit (profit before interest and tax) of £792,178 was generated during the year 2024 compared to a profit of £1,508,346 in the previous year 2023. 
Full cost of hotel refurbishment was carried out from company own cash reserves. As a result, cash at bank, in hand and investment assets decreased from £7,282,860 to £4,215,439 in 2024. Anticipated total cost of refurbishment will be circa £7 million.
The Board would like to thank all its staff for their loyalty and support during 2024 and continuing into 2025 especially dealing with various challenges relating to hotel refurbishment. 

Principal risks and uncertainties
 
Skilled staff shortage in hospitality industry continues to affect recruitment in all areas of hotel operations. This in turn is driving up wage costs.
UK inflation which peaked to over 10% beginning of 2023 came down to around 4% at start of 2024. By mid 2024 it came down further to around 2% in line with BoE target. Unfortunately, it started to increase thereafter and by end of 2024 it finished at around 3%. As a result, disposable income will be squeezed which could result in cutting back on eating out and holidays which will affect hospitality industry.
Despite these concerns the directors are confident the Company will see the benefits of hotel refurbishment which will improve its performance in all areas of operation. Key challenge will be to reposition the hotel from mid 4* to upper 4* market once refurbishment has been completed by end of February 2025. The Company has adequate resources to continue in operational existence for the foreseeable future.

Page 1

 


GUIDEZONE LIMITED
 



STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024


This report was approved by the board and signed on its behalf.





................................................
P Kaneria
Director

Date: 26 July 2025

Page 2

 


GUIDEZONE LIMITED
 


 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

The Directors present their report and the financial statements for the year ended 31 December 2024.

Directors' responsibilities statement

The Directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the Directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments 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 Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £755,595 (2023 - £1,313,437).

Dividends of £250,000 (2023 - £250,000) were declared during the year.

Directors

The Directors who served during the year were:

H Kaneria 
P Kaneria 

Future developments

Works in relation to hotel refurbishment which commenced in March 2024 is programmed to be completed by end of February 2025. Works programmed to be completed in January and February 2025 will be last remaining Guestrooms on first floor, Restaurant/Bar and External Façade & Terrace.
Once hotel refurbishment works are completed work will commence with regards to organising new photography, video etc in relation to launch of new hotel website. In advance of hotel launch following complete refurbishment firms will be appointed to assist with Digital Marketing, Social Media and Press Release.
Looking ahead into the next financial year, the directors will continue to make investments in the hotel infrastructure and its operations to improve its performance and to compete effectively in upper 4* hotel market.

Page 3

 


GUIDEZONE LIMITED
 


 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Disclosure of information to auditors

Each of the persons who are Directors at the time when this Directors' report is approved has confirmed that:
 
so far as the Director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditors

The auditorsMenzies LLPwill be proposed for reappointment in accordance with section 487 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





P Kaneria
Director

Date: 26 July 2025

Page 4

 


GUIDEZONE LIMITED
 

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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GUIDEZONE LIMITED

Opinion


We have audited the financial statements of Guidezone Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of cash flows, the Statement of changes in equity and the related notes, including a summary of significant accounting policiesThe 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 Company's affairs as at 31 December 2024 and of its 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 Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 Directors' 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 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 Directors with respect to going concern are described in the relevant sections of this report.


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The Directors are responsible for the other information contained within the Annual ReportOur 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. 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 course of 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.


Page 5

 


GUIDEZONE LIMITED


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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GUIDEZONE LIMITED (CONTINUED)

Opinion 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 Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of Directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 3, the Directors are 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 Directors determine is 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 Directors are responsible for assessing the 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 Directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 6

 


GUIDEZONE LIMITED


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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GUIDEZONE LIMITED (CONTINUED)

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 an Auditors' report 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:

The Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant including: 
 
Companies Act 2006;
Financial Reporting Standard 102;
Employment legislation; and
Tax legislation.

We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
We understood how the Company is complying with those legal and regulatory frameworks by making inquiries to management and those responsible for legal and compliance procedures. We corroborated our inquiries through our review of relevant documentation.
The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. No issues were identified in this area.
We assessed the susceptibility of the Company’s financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
 
Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process; and
Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.

As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud would be the posting of unusual journals and complex transactions.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


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 Auditors' report.


Page 7

 


GUIDEZONE LIMITED


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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GUIDEZONE LIMITED (CONTINUED)

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 2006Our 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 an Auditors' report 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.





Sarah Hallam FCCA (Senior statutory auditor)
for and on behalf of
Menzies LLP
Chartered Accountants
Statutory Auditor
95 Gresham Street
City of London
London
EC2V 7AB

1 August 2025
Page 8

 


GUIDEZONE LIMITED
 


 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
£
£

  

Turnover
 3 
5,856,527
6,190,698

Cost of sales
  
(3,192,231)
(3,153,147)

Gross profit
  
2,664,296
3,037,551

Administrative expenses
  
(1,877,768)
(1,535,471)

Other operating income
 4 
5,650
6,266

Operating profit
  
792,178
1,508,346

Interest receivable and similar income
 8 
267,851
222,451

Profit before tax
  
1,060,029
1,730,797

Tax on profit
 9 
(304,434)
(417,360)

Profit for the financial year
  
755,595
1,313,437

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 14 to 23 form part of these financial statements.

Page 9

 


GUIDEZONE LIMITED
REGISTERED NUMBER:01690203



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 11 
8,626,512
4,563,856

Investments
 12 
-
5,638,127

  
8,626,512
10,201,983

Current assets
  

Stocks
  
32,906
33,986

Debtors: amounts falling due within one year
 13 
333,333
937,647

Current asset investments
 14 
2,595,352
-

Cash at bank and in hand
 15 
1,620,086
1,644,733

  
4,581,677
2,616,366

Creditors: amounts falling due within one year
 16 
(866,133)
(1,286,322)

Net current assets
  
 
 
3,715,544
 
 
1,330,044

Total assets less current liabilities
  
12,342,056
11,532,027

Provisions for liabilities
  

Deferred tax
 17 
(1,125,848)
(821,414)

  
 
 
(1,125,848)
 
 
(821,414)

Net assets
  
11,216,208
10,710,613


Capital and reserves
  

Called up share capital 
  
6,289
6,289

Revaluation reserve
 18 
2,361,108
2,361,108

Capital redemption reserve
 18 
3,758
3,758

Profit and loss account
 18 
8,845,053
8,339,458

  
11,216,208
10,710,613


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 July 2025.




................................................
P Kaneria
Director

The notes on pages 14 to 23 form part of these financial statements.

Page 10

 


GUIDEZONE LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Capital redemption reserve
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 January 2023
6,289
3,758
2,361,108
7,276,021
9,647,176


Comprehensive income for the year

Profit for the year
-
-
-
1,313,437
1,313,437


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
(250,000)
(250,000)


Total transactions with owners
-
-
-
(250,000)
(250,000)



At 1 January 2024
6,289
3,758
2,361,108
8,339,458
10,710,613


Comprehensive income for the year

Profit for the year
-
-
-
755,595
755,595


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
(250,000)
(250,000)


Total transactions with owners
-
-
-
(250,000)
(250,000)


At 31 December 2024
6,289
3,758
2,361,108
8,845,053
11,216,208


The notes on pages 14 to 23 form part of these financial statements.

Page 11

 


GUIDEZONE LIMITED
 



STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
755,595
1,313,437

Adjustments for:

Depreciation of tangible assets
108,591
112,535

Loss on disposal of tangible assets
115,530
2,672

Interest received
(267,851)
(222,451)

Taxation charge
304,434
417,426

Decrease/(increase) in stocks
1,080
(4,532)

Decrease/(increase) in debtors
604,312
(368,537)

(Decrease)/increase in creditors
(9,348)
135,342

Corporation tax (paid)
(410,841)
(243,963)

Net cash generated from operating activities

1,201,502
1,141,929


Cash flows from investing activities

Purchase of tangible fixed assets
(4,286,775)
(87,869)

Purchase of unlisted and other investments
-
(388,117)

Sale of unlisted and other investments
3,042,775
-

Interest received
267,851
222,451

Net cash from investing activities

(976,149)
(253,535)

Cash flows from financing activities

Dividends paid
(250,000)
(250,000)

Net cash used in financing activities
(250,000)
(250,000)

Net (decrease)/increase in cash and cash equivalents
(24,647)
638,394

Cash and cash equivalents at beginning of year
1,644,733
1,006,339

Cash and cash equivalents at the end of year
1,620,086
1,644,733


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
1,620,086
1,644,733

1,620,086
1,644,733


The notes on pages 14 to 23 form part of these financial statements.

Page 12

 


GUIDEZONE LIMITED
 



ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2024




At 1 January 2024
Cash flows
At 31 December 2024
£

£

£

Cash at bank and in hand

1,644,733

(24,647)

1,620,086


1,644,733
(24,647)
1,620,086

The notes on pages 14 to 23 form part of these financial statements.

Page 13

 


GUIDEZONE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Guidezone Limited is a private limited company, limited by shares, incorporated in England and Wales. The registered office is Ambassadors Bloomsbury Hotel, 12 Upper Woburn Place, London, WC1H 0HX.

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

Going concern

The Company has strong cash reserves and the directors therefore believe the Company has sufficient resources to continue in operational existence for the foreseeable future, being at least twelve months from the date of approval of the financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

  
2.3

Turnover

Turnover represents amounts receivable for the provision of accommodation and other ancillary services and also the sale of food and beverages in the restaurant net of VAT and trade discounts.  

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

Defined contribution pension plan

The Company operates 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 profit or loss 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.

Page 14

 


GUIDEZONE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

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.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.7

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Land and buildings
-
2%
reducing balance
Improvements to property
-
2%
reducing balance
Fixtures, fittings and equipment
-
20%
reducing balance
Plant and machinery
-
20%
on cost
Computer equipment
-
20%
on cost

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.

Page 15

 


GUIDEZONE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

  
2.8

Stock

Stock is stated at the lower of cost and net realisable value.
At each reporting date, an assessment is made for impairment. Any excess of the carry amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss. 

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 16

 


GUIDEZONE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Accomodation
4,217,332
4,588,051

Ancillary services
1,639,195
1,602,647

5,856,527
6,190,698


Analysis of turnover by country of destination:

2024
2023
£
£

United Kingdom
5,856,527
6,190,698

5,856,527
6,190,698



4.


Other operating income

2024
2023
£
£

Other operating income
5,650
6,266

5,650
6,266



5.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
17,000
11,500
Page 17

 


GUIDEZONE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Employees

Staff costs were as follows:


2024
2023
£
£

Wages and salaries
2,173,187
2,069,439

Social security costs
187,928
176,059

Cost of defined contribution scheme
29,487
29,583

2,390,602
2,275,081


The average monthly number of employees, including directors, during the year was 58 (2023 - 56).


7.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
327,526
304,866

Company contributions to defined contribution pension schemes
2,114
2,066

329,640
306,932


During the year retirement benefits were accruing to 2 Directors (2023 - 2) in respect of defined contribution pension schemes.

The highest paid Director received remuneration of £279,586 (2023 - £258,798).

The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid Director amounted to £1,321 (2023 - £1,321).


8.


Interest receivable

2024
2023
£
£


Interest on bank deposits
267,851
222,451

267,851
222,451

Page 18

 


GUIDEZONE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
-
410,857

Adjustments in respect of previous periods
-
(66)


Total current tax
-
410,791

Deferred tax


Origination and reversal of timing differences
304,434
6,569


Tax on profit
304,434
417,360

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 23.5%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
1,060,029
1,730,797


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23.5%)
265,007
406,737

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
2,426
270

Depreciation for year in excess of capital allowances
37,001
10,419

Adjustments to tax charge in respect of prior periods
-
(66)

Total tax charge for the year
304,434
417,360


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


10.


Dividends

2024
2023
£
£


Declared and paid £40 per ordinary share
250,000
250,000

250,000
250,000

Page 19

 


GUIDEZONE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Tangible fixed assets





Freehold property
Property improvements
Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2024
4,481,666
1,107,911
1,064,058
1,763,172
254,162
8,670,969


Additions
-
471,203
325,129
3,186,078
304,365
4,286,775


Disposals
-
(134,371)
(687,427)
(1,546,946)
(196,803)
(2,565,547)



At 31 December 2024

4,481,666
1,444,743
701,760
3,402,304
361,724
10,392,197



Depreciation


At 1 January 2024
915,614
327,179
939,472
1,677,780
247,068
4,107,113


Charge for the year on owned assets
26,504
15,944
47,133
17,079
1,931
108,591


Disposals
-
(42,648)
(687,426)
(1,523,142)
(196,803)
(2,450,019)



At 31 December 2024

942,118
300,475
299,179
171,717
52,196
1,765,685



Net book value



At 31 December 2024
3,539,548
1,144,268
402,581
3,230,587
309,528
8,626,512



At 31 December 2023
3,566,052
780,732
124,586
85,392
7,094
4,563,856

No depreciation has been charged on additions of £4,215,051 as these relate to refurbishment works which were ongoing at the year end.


12.


Fixed asset investments





Unlisted investments

£



Cost 


At 1 January 2024
5,638,127


Additions
60,342


Disposals
(5,698,469)



At 31 December 2024
-




Page 20

 


GUIDEZONE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

13.


Debtors

2024
2023
£
£


Trade debtors
114,020
205,190

Other debtors
139,179
18,246

Prepayments and accrued income
80,134
714,211

333,333
937,647



14.


Current asset investments

2024
2023
£
£

Unlisted investments
2,595,352
-

2,595,352
-



15.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,620,086
1,644,733

1,620,086
1,644,733



16.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
359,062
202,531

Corporation tax
16
410,857

Other taxation and social security
88,101
229,000

Other creditors
210,164
279,659

Accruals and deferred income
208,790
164,275

866,133
1,286,322


Page 21

 


GUIDEZONE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

17.


Deferred taxation




2024


£






At beginning of year
(821,414)


Charged to profit or loss
(304,434)



At end of year
(1,125,848)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(976,960)
(37,153)

Tax losses carried forward
635,351
-

Other timing differences
2,797
2,775

Revaluations
(787,036)
(787,036)

(1,125,848)
(821,414)


18.


Reserves


Revaluation reserve
The revaluation reserve comprises the cumulative effect of revaluations of freehold land and buildings which were revalued to fair value at each reporting date until the adoption of FRS 102 when the Company elected to continue to hold its freehold land and buildings at cost less depreciation.
Capital redemption reserve
The capital redemption reserve records the nominal value of shares repurchased by the Company.
Profit and loss account
The profit and loss account records retained earnings and accumulated profits. 

Page 22

 


GUIDEZONE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

19.


Capital commitments


At 31 December 2024 the Company had capital commitments as follows:

2024
2023
£
£


Contracted for but not provided in these financial statements
1,584,284
5,479,904

1,584,284
5,479,904


20.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the Company are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £29,487 (2023 - £29,583).


 
Page 23