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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2024
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DOMINVS HAMMERSMITH HOTEL 9 LIMITED
COMPANY INFORMATION
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DOMINVS HAMMERSMITH HOTEL 9 LIMITED
CONTENTS
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DOMINVS HAMMERSMITH HOTEL 9 LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present the strategic report and financial statements for the year ended 31 December 2024.
The principal activity of the company during the year continued to be a property developer.
The company’s financial performance for the reporting period and financial position as at 31 December 2024 are shown on pages 10 to 11 of the financial statements.
The key business risks and uncertainties affecting the company are considered to relate to the fact that the company operates within a highly competitive market place, in an industry that is influenced by political and economic conditions such as recession, inflation, availability of credit and currency fluctuations.
The decline in growth in the UK economy and rising costs due to inflation and supply chain pressures are risks that have gathered pace resulting in the UK falling into a technical recession at the end of 2024. In particular, fuel costs, building materials and labour shortages are affecting UK property industry. Unforeseen operational delays caused by disputes with third parties, adverse weather conditions or lack of project oversight could lead to delay, increased costs or termination of a project. In addition, inadequate contingency planning or recovery capability in relation to a major incident or crisis may prevent operational continuity and consequently impact the reputation of the company. Health and safety, death or serious injury as a result of company negligence and non compliance with government regulations are risks to the company. During the year, management have continued to monitor and improve processes, policies and systems to be competitive in the market.
The key financial performance indicators are gross profit and operating profit:
Gross profit: £2,956,288 (2023: 10,393,518) Operating profit: £599,915 (2023: £4,747,009)
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DOMINVS HAMMERSMITH HOTEL 9 LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Section 172 of the Companies Act 2006 requires directors of a group to act in the way they consider, in good faith, would be most likely to promote the success of the group for the benefit of its members as a whole. In doing this, section 172 requires directors to have regard, amongst other matters, to the:
• likely consequences of any decisions in the long-term; • interests of the group’s employees; • need to foster the group’s business relationships with suppliers, customers and others; • impact of the group’s operations on the community and environment; • desirability of the group maintaining a reputation for high standards of business conduct; and • need to act fairly as between members of the group. In discharging our section 172 duties we have regard to the factors set out above. In concluding our decisions due regard is given to what is in the long term company interest, while bearing in mind other stakeholders, for example employees, the environment, customers, to ensure a rounded view. While we acknowledge that every decision we make will not necessarily result in a positive outcome for all of our stakeholders, by considering the company’s mission statement, strategic aims and core values and having a process in place for decision making, we do, however, aim to make sure that our decisions are consistent. During the period the company received information to help it understand the interests and views of the company’s key stakeholders and other relevant factors when making decisions. This was disseminated in a in a wide variety of ways and covered financial and operational performance, non-financial KPIs, risk, environmental, social and outcomes of specific pieces of engagement. As a result of this, the company has had an overview of engagement with stakeholders and other relevant factors which allows it to understand the nature of the stakeholders’ concerns and to comply with its section 172 duty to promote the success of the group.
This report was approved by the board on 24 September 2025 and signed on its behalf.
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DOMINVS HAMMERSMITH HOTEL 9 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.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
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;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙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 2006. They 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.
The profit for the year, after taxation, amounted to £435,395 (2023 - £3,602,235).
Dividends of £Nil (2023: £Nil) were paid during the year.
The directors who served during the year were:
There are no likely future developments aside from the continuation and expansion of the company's current business activities.
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DOMINVS HAMMERSMITH HOTEL 9 LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The company is committed to fostering positive relationships, notably with stakeholders, suppliers, customers and regulators. The group maintains an ongoing dialogue with these parties through face-to-face meetings, email and telephone conversations with directors and senior management. We take time to engage with, and listen to, the views of our stakeholders in order to shape our decision-making and to continue improving the way we operate.
The company committed to being fully transparent and timely in our reporting and corporate governance, with strict adherence to all local and international laws and regulations.
The company has not disclosed information in respect of greenhouse gas emissions, energy consumption and energy efficiency action as its energy consumption in the United Kingdom for the year is 40,000kWh or lower.
There have been no significant events affecting the company since the period end.
The auditors, Nyman Libson Paul LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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DOMINVS HAMMERSMITH HOTEL 9 LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DOMINVS HAMMERSMITH HOTEL 9 LIMITED
We have audited the financial statements of Dominvs Hammersmith Hotel 9 Limited (the 'company') for the year ended 31 December 2024, which comprise the Statement of Income and Retained Earnings, the Statement of Financial Position, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The 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).
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.
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.
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DOMINVS HAMMERSMITH HOTEL 9 LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DOMINVS HAMMERSMITH HOTEL 9 LIMITED (CONTINUED)
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 Report. Our 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.
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.
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.
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DOMINVS HAMMERSMITH HOTEL 9 LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DOMINVS HAMMERSMITH HOTEL 9 LIMITED (CONTINUED)
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:
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
∙the nature of the industry and specific sector, the control environment and business performance;
∙results of our enquiries of management about their own identification and assessment of the risks of irregularities;
∙matters identified from the review of company documentation in respect of their policies and procedures relating to:
−identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
−detecting and responding to the risks of fraud and whether they have knowledge of any actual suspected or alleged fraud;
−internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and
−matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included UK legislation and regulations in relation to the operation and governance of the company, direct and indirect tax legislation.
In addition, we considered other laws and regulations that could have an effect on the company and result in the imposition of financial or other penalties and litigation. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. These limited procedures did not identify actual or suspected non-compliance.
All matters in relation to non-compliance with laws and regulations and potential fraud risks were communicated to all members of the engagement team and we remained alert to any indications of non-compliance throughout the audit.
As a result of performing the above, we identified the susceptibility of assets to misappropriation as a potential risk of fraud.
Our procedures to respond to risks identified included the following:
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DOMINVS HAMMERSMITH HOTEL 9 LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DOMINVS HAMMERSMITH HOTEL 9 LIMITED (CONTINUED)
∙reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
∙enquiries with management concerning actual and potential litigation and claims;
∙assessing the appropriateness and where appropriate with third parties concerning actual and potential litigation and claims;
∙physical inspections of assets;
∙performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
∙examining minutes of meetings of those charged with governance and correspondence with HMRC and other third parties; and
∙in addressing the risk of fraud through management override of controls, reviewing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
There are inherent limitations in the audit procedures described above even though we have properly planned and performed our audit in accordance with auditing standards. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. As with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. We did not identify any key audit matters relating to irregularities, including fraud.
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.
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DOMINVS HAMMERSMITH HOTEL 9 LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DOMINVS HAMMERSMITH HOTEL 9 LIMITED (CONTINUED)
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 2006. Our 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.
for and on behalf of
Chartered Accountants
Statutory Auditors
124 Finchley Road
NW3 5JS
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DOMINVS HAMMERSMITH HOTEL 9 LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2024
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DOMINVS HAMMERSMITH HOTEL 9 LIMITED
REGISTERED NUMBER: 13172448
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 14 to 20 form part of these financial statements.
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DOMINVS HAMMERSMITH HOTEL 9 LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
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DOMINVS HAMMERSMITH HOTEL 9 LIMITED
ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2024
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DOMINVS HAMMERSMITH HOTEL 9 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Dominvs Hammersmith Hotel 9 Limited is a private company limited by shares and incorporated in England & Wales. The address of its principal place of business is 14A Shouldham Street, Marylebone, London, W1H 5FJ.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).
The company's functional and presentational currency is GBP, rounded to the nearest £1.
The following principal accounting policies have been applied:
Turnover Includes income from property development services ascertained by reference to costs incurred to date. Development costs are matched with revenue resulting in the reporting of attributable profit proportionate to the development activity.
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DOMINVS HAMMERSMITH HOTEL 9 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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.
The following are the company's key accounting estimates and assumptions: Revenue recognition Revenue has been recognised using the percentage of completion method with stages of completion ascertained by using the proportion of costs incurred for work performed to date in relation to estimated total costs. Estimates of revenues and costs are derived from construction contracts with the customer and sub-contractor respectively. Estimates of revenues, costs or the extent of progress toward completion are assessed annually and are revised if circumstances change. Any resulting increases or decreases in estimated revenues or costs are reflected in profit or loss in the period in which the circumstances that give rise to the revision become known by management.
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DOMINVS HAMMERSMITH HOTEL 9 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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DOMINVS HAMMERSMITH HOTEL 9 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
There were no factors that may affect future tax charges.
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DOMINVS HAMMERSMITH HOTEL 9 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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DOMINVS HAMMERSMITH HOTEL 9 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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DOMINVS HAMMERSMITH HOTEL 9 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Dominvs Hammersmith Hotel 9 Limited is a joint venture owned equally by Dominus Hammersmith Holdings Limited and Minhoco 42 Limited.
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