ACCOUNTS - Final Accounts

Company registration number: 04086593

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	THE HOTEL PARTNERSHIP LIMITED


THE HOTEL PARTNERSHIP LIMITED

COMPANY INFORMATION

Directors	P J Allsopp
	D M Byrne
	J D Sullivan
	R L Howes


Registered number	04086593


Registered office	Suite 113
	The Mayford Centre
	Mayford Green
	Woking
	Surrey
	GU22 0PP


Accountants	Menzies LLP
	Chartered Accountants
	2nd Floor, Midas House
	62 Goldsworth Road
	Woking
	Surrey
	GU21 6LQ


Solicitors	Bennetts Solicitors, Attorneys & Notaries
	Barley Wood Stables
	Long Lane
	Wrington
	Bristol
	BS40 5SA


THE HOTEL PARTNERSHIP LIMITED

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 7


THE HOTEL PARTNERSHIP LIMITED REGISTERED NUMBER:04086593

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	554,285		260,673
Cash at bank and in hand		599,152		521,747
		1,153,437		782,420
Creditors: amounts falling due within one year	6	(833,221)		(543,686)
Net current assets			320,216		238,734
Total assets less current liabilities			320,216		238,734
Creditors: amounts falling due after more than one year	7		(12,500)		(42,500)

Net assets			307,716		196,234

Capital and reserves
Called up share capital	310,000	310,000
Profit and loss account	(2,284)	(113,766)
	307,716	196,234

Page 1


THE HOTEL PARTNERSHIP LIMITED REGISTERED NUMBER:04086593

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 September 2025.

................................................ P J Allsopp	................................................ J D Sullivan
Director	Director
................................................ R L Howes Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2


THE HOTEL PARTNERSHIP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

The Hotel Partnership Limited is a private Company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of it's registered office and principal place of business is disclosed on the company information page.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on a going concern basis. The directors have assessed the future cashflow and performance of the company and are of the opinion that the going concern basis of accounting continues to remain appropriate.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

Page 3


THE HOTEL PARTNERSHIP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Operating leases: the Company as lessee

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

2.6

Interest income

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

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

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.

2.9

Taxation

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.

Page 4


THE HOTEL PARTNERSHIP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.10

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, using the straight-line method.

Depreciation is provided on the following basis:

Website development	-	33%	Straight line
Fixtures and fittings	-	10%	Straight line
Equipment	-	20%	Straight line

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.

2.11

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.

Employees

The average monthly number of employees, including directors, during the year was 17 (2023 - 16).

Page 5


THE HOTEL PARTNERSHIP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Tangible fixed assets

		Plant and machinery etc.
		£
	Cost or valuation
	At 1 January 2024	100,223
	At 31 December 2024	100,223
	Depreciation
	At 1 January 2024	100,223
	At 31 December 2024	100,223
	Net book value
	At 31 December 2024	-
	At 31 December 2023	-

Debtors

					2024	2023
					£	£


Trade debtors	457,174	127,544
Prepayments and accrued income	97,111	133,129
	554,285	260,673

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Bank loans	30,000	30,000
Trade creditors	395,933	290,862
Amounts owed to group undertakings	100,000	-
Corporation tax	17,545	615
Other taxation and social security	127,500	91,707
Other creditors	48,786	46,086
Accruals and deferred income	113,457	84,416
	833,221	543,686

Page 6


THE HOTEL PARTNERSHIP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

7.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Bank loans	12,500	42,500
	12,500	42,500

8.	Contingent liabilities

The company is party to a Mortgage Debenture dated the 11 March 2022 between (1) The Hotel Partnership Limited and (2) Allied Irish Banks p.l.c (the "Mortgage Debture") in favour of Allied Irish Banks p.l.c as security for the payment and discharge of bank borrowings of £1,000,000 by the new ultimate parent undertaking, RDJL Investments Limited, which is a company incorporated in the Republic of Ireland should the ultimate parent undertaking fail to discharge their obligations.

9.	Parent company

At the year end the immediate parent company of The Hotel Partnership Limited for which consolidated financial statements are drawn up is Great National Hotel and Resorts (Group) Limited, a company registered in The Republic of Ireland. The address of their registered office is 9 Clare Street, Dublin 2, D02 HH30.
The ultimate parent company is RDJL Investments Limited, a company registered in the Republic of Ireland.

Page 7