Axcel Hospitality (Exmouth) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 13009273 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

AXCEL HOSPITALITY (EXMOUTH) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Sunil Patel

Shamir Patel

REGISTERED OFFICE:

2nd Floor

29 Dingwall Road

Croydon

CR0 2NB

REGISTERED NUMBER:

13009273 (England and Wales)

FIXED ASSETS

Tangible assets

4

900,000

2,000,000

CURRENT ASSETS

Stocks

5

2,647

11,843

Debtors

6

80,761

618,227

Cash at bank and in hand

1,156,321

972,637

1,239,729

1,602,707

CREDITORS

Amounts falling due within one year

7

(296,583

)

(580,084

)

NET CURRENT ASSETS

943,146

1,022,623

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,843,146

3,022,623

PROVISIONS FOR LIABILITIES

9

-

(223,501

)

NET ASSETS

1,843,146

2,799,122

CAPITAL AND RESERVES

Called up share capital

10

100

Revaluation reserve

11

-

670,503

Retained earnings

11

1,843,046

2,128,519

SHAREHOLDERS' FUNDS

1,843,146

2,799,122

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

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 26th September 2025 and were signed on its behalf by:

Sunil Patel - Director

1.	STATUTORY INFORMATION

Axcel Hospitality (Exmouth) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The principal place of business is 3 - 5 Morten Crescent, Exmouth, EX8 1BE.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Freehold property includes a freehold hotel which is carried at its revalued amount, being fair value at the date of valuation and impairment losses. Revaluations are performed by professional qualified valuers with sufficient regularity to ensure that the carrying amounts do not differ materially from those that would be determined using fair values at the end of each reporting period.

Any revaluation increase in the carrying amount of land and buildings is recognised in other comprehensive income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss, in which case the increase is credited to profit and loss to the extent of the decrease previously expended.

Decreases that offset previous increases of the same asset are charged in other comprehensive income and debited against revaluation reserve in equity; decreases exceeding the balance in revaluation reserve relating to an asset are recognised in profit or loss. The use of a policy of revaluation provided more relevant and reliable information about the value of the property owned by the company.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST OR VALUATION

At 1st January 2024

2,000,000

Revaluations

(1,100,000

)

At 31st December 2024

900,000

NET BOOK VALUE

At 31st December 2024

900,000

At 31st December 2023

2,000,000

Cost or valuation at 31st December 2024 is represented by:

Freehold

property

£

Valuation in 2024

(205,996

)

Cost

1,105,996

900,000

If Freehold land and building had not been revalued they would have been included at the following historical cost:

2024

2023

£

Cost

1,105,996

Freehold land and buildings were valued on an open market basis on 31st December 2024 by Sunil Patel,Director .

5.

STOCKS

2024

2023

£

Stocks

2,647

11,843

6.

DEBTORS

2024

2023

£

Amounts falling due within one year:

Trade debtors

-

1,188

Other debtors and prepayments

16,983

11,039

Deferred tax asset

51,499

-

68,482

12,227

Amounts falling due after more than one year:

Other loans

12,279

606,000

Aggregate amounts

80,761

618,227

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts (see note 8)

2,963

-

Trade creditors

48,258

32,549

Tax

-

236,730

Social security and other taxes

3,052

5,083

VAT

3,736

11,992

Other creditors and accruals

41,490

49,770

Accruals and deferred income

197,084

243,960

296,583

580,084

8.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

Amounts falling due within one year or on demand:

Bank overdrafts

2,963

-

9.	PROVISIONS FOR LIABILITIES

2023

£

Deferred tax

223,501

Deferred

tax

£

Balance at 1st January 2024

223,501

Provided during year

(275,000

)

Balance at 31st December 2024

(51,499

)

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

100

Ordinary

1

100

11.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

At 1st January 2024

2,128,519

670,503

2,799,022

Deficit for the year

(285,473

)

(285,473

)

Revaluation

-

(1,100,000

)

(1,100,000

)

Deferred tax provision

-

275,000

Revaluation losses transfer

-

154,497

At 31st December 2024

1,843,046

-

1,843,046