CHILLAX HOTELS LTD

Company Registration Number:
10988079 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2024

Period of accounts

Start date: 01 January 2024

End date: 31 December 2024

CHILLAX HOTELS LTD

Contents of the Financial Statements

for the Period Ended 31 December 2024

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

CHILLAX HOTELS LTD

Company Information

for the Period Ended 31 December 2024




Director: Nick Bolton
Registered office: Unit 17 Five Chimneys Business Park
Curtains Hill
Hadlow Down
Uckfield
England
TN22 4DU
Company Registration Number: 10988079 (England and Wales)

CHILLAX HOTELS LTD

Balance sheet

As at 31 December 2024


Notes

2024
£

2023
£
Fixed assets
Intangible assets: 4 40,000 55,625
Tangible assets: 5 852,555 886,869
Total fixed assets: 892,555 942,494
Current assets
Stocks: 5,000 25,000
Debtors: 23,047 538
Cash at bank and in hand: 5,156 3,384
Total current assets: 33,203 28,922
Creditors: amounts falling due within one year: ( 20,846 ) ( 334,084 )
Net current assets (liabilities): 12,357 ( 305,162 )
Total assets less current liabilities: 904,912 637,332
Creditors: amounts falling due after more than one year: ( 688,558 ) ( 349,473 )
Total net assets (liabilities): 216,354 287,859

The notes form part of these financial statements

CHILLAX HOTELS LTD

Balance sheet continued

As at 31 December 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 1 1
Revaluation reserve: 6 265,625 265,625
Profit and loss account: ( 49,272 ) 22,233
Shareholders funds: 216,354 287,859

For the year ending 31 December 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 28 August 2025
And Signed On Behalf Of The Board By:

Name: Nick Bolton
Status: Director

The notes form part of these financial statements

CHILLAX HOTELS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Revenue recognised when rooms, food, and drink are supplied.

    Tangible fixed assets depreciation policy

    state at cost or revalued amount less depreciation. Depreciation on plant, machinery, motor vehicles straight-line over useful lives.

    Intangible fixed assets amortisation policy

    goodwill amortised over 15 years

    Valuation information and policy

    he revaluation reserve of £265,625 relates to the uplift in the carrying value of freehold property recognised in prior years. The reserve is not distributable.

    Other accounting policies

    The company has an external loan of £361,055 repayable after more than one year. The loan is secured on the property of the company. At the year end, the company owed the director £327,503 (shown under long-term creditors). This balance is unsecured and repayable on demand.

CHILLAX HOTELS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 14 25

CHILLAX HOTELS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 3. Off balance sheet disclosure

    No

CHILLAX HOTELS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 4. Intangible assets

    Total
    Cost £
    At 01 January 2024 55,625
    Additions -
    Disposals -
    Revaluations -
    Transfers -
    At 31 December 2024 55,625
    Amortisation
    Charge for year 15,625
    On disposals -
    Other adjustments -
    Amortisation at 31 December 2024 15,625
    Net book value
    Net book value at 31 December 2024 40,000
    Net book value at 31 December 2023 55,625

    Goodwill is stated at cost and is being amortised on a straight-line basis over 15 years, which is the directors’ estimate of its useful economic life. At the year end, the net book value of goodwill was £40,000 (2023: £55,625).

CHILLAX HOTELS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Tangible Assets

Total
Cost £
At 01 January 2024 1,103,079
Additions 29,134
Disposals -
Revaluations -
Transfers -
At 31 December 2024 1,132,213
Depreciation
At 01 January 2024 216,210
Charge for year 63,448
On disposals -
Other adjustments -
At 31 December 2024 279,658
Net book value
At 31 December 2024 852,555
At 31 December 2023 886,869

The revaluation reserve of £265,625 relates to an uplift in the carrying value of freehold property recognised in prior years. The reserve is not distributable.

CHILLAX HOTELS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

6. Revaluation reserve


2024
£
Balance at 01 January 2024 265,625
Surplus or deficit after revaluation 0
Balance at 31 December 2024 265,625

The revaluation reserve relates to the uplift in the carrying value of freehold property recognised in prior years. The reserve is not distributable.

CHILLAX HOTELS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

7.1. Loans to Directors

Name of director receiving advance or credit: Nick Bolton
Description of the transaction:
At the year end, the company owed the director £327,503 (shown under long-term creditors). This balance is unsecured, interest-free and repayable on demand.
Balance at 01 January 2024 279,403
Advances or credits made: 48,100
Balance at 31 December 2024 327,503