Eclipse Hotels (Luton) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05958476

Eclipse Hotels (Luton) Limited

Filleted Unaudited Financial Statements

31 December 2024

Eclipse Hotels (Luton) Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	6		2,042,354	2,512,432

Current assets

Stocks		487	1,822
Debtors	7	9,791	55,629
Cash at bank and in hand		63,517	69,007
		--------	---------
		73,795	126,458

Creditors: amounts falling due within one year	8	2,683,587		1,577,495
		------------		------------
Net current liabilities			2,609,792	1,451,037
			------------	------------
Total assets less current liabilities			( 567,438)	1,061,395

Creditors: amounts falling due after more than one year	9		638,966	1,895,669

Provisions

Pensions and similar obligations	1,542	1,163
	------------	------------
Net liabilities	( 1,207,946)	( 835,437)
	------------	------------

Capital and reserves

Called up share capital	100	100
Revaluation reserve	657,801	1,110,997
Profit and loss account	( 1,865,847)	( 1,946,534)
	------------	------------
Shareholders deficit	( 1,207,946)	( 835,437)
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Eclipse Hotels (Luton) Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 25 September 2025 , and are signed on behalf of the board by:

Mr S Damji

Director

Company registration number: 05958476

Eclipse Hotels (Luton) Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Coda Centre, 189 Munster Road, London, SW6 6AW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

Going Concern The company made a Profit of £80,687 (31.12.2023 Loss - £111,730) during the year ended 31st December 2024 and had net liabilities at that date of £1,207,946 (31.12.2023 - £835,447). Included in creditors falling due within one year are intercompany balances of £2,565,104 (31.12.2023 - £1,407,327) and in creditors falling due more than one year shareholders loan of £609,229. Bearing in mind that the shareholders will not draw out any funds in the foreseeable future, the directors are satisfied that the going concern basis is appropriate for the preparation of the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Franchise Fees	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold Building	-	1% straight line
Fixtures and Fittings	-	25% reducing balance
Motor Vehicles	-	25% reducing balance
Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 19 (2023: 24 ).

5. Intangible assets

	Franchise Fees
	£
Cost
At 1 January 2024 and 31 December 2024	25,000
	--------
Amortisation
At 1 January 2024 and 31 December 2024	25,000
	--------
Carrying amount
At 31 December 2024	–
	--------
At 31 December 2023	–
	--------

6. Tangible assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 January 2024	2,869,559	441,182	9,613	47,501	3,367,855
Additions	–	15,758	–	9,282	25,040
Revaluations	( 453,196)	–	–	–	( 453,196)
	------------	---------	-------	--------	------------
At 31 December 2024	2,416,363	456,940	9,613	56,783	2,939,699
	------------	---------	-------	--------	------------
Depreciation
At 1 January 2024	416,363	397,058	8,932	33,070	855,423
Charge for the year	24,164	12,672	171	4,915	41,922
	------------	---------	-------	--------	------------
At 31 December 2024	440,527	409,730	9,103	37,985	897,345
	------------	---------	-------	--------	------------
Carrying amount
At 31 December 2024	1,975,836	47,210	510	18,798	2,042,354
	------------	---------	-------	--------	------------
At 31 December 2023	2,453,196	44,124	681	14,431	2,512,432
	------------	---------	-------	--------	------------

Tangible assets held at valuation

As per valuation dated 31 October 2022 by Colliers of 95 Wigmore Street, London, W1U 1FF, the value of the hotel is £2,000,000. In the opinion of the directors, the value of the hotel as at 31st December 2024 would not be materially different from that expressed by the valuers. This revalued amount has now been reflected in the financial statements which give a rise to revaluation reserve of £657,801.

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold property
	£
At 31 December 2024
Aggregate cost	1,758,562
Aggregate depreciation	(287,667)
	------------
Carrying value	1,470,895
	------------

At 31 December 2023
Aggregate cost	1,758,562
Aggregate depreciation	(270,081)
	------------
Carrying value	1,488,481
	------------

7. Debtors

	2024	2023
	£	£
Trade debtors	2,496	–
Other debtors	7,295	55,629
	-------	--------
	9,791	55,629
	-------	--------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	5,600	25,600
Trade creditors	41,729	43,160
Social security and other taxes	44,772	55,451
Other creditors	2,591,486	1,453,284
	------------	------------
	2,683,587	1,577,495
	------------	------------

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	29,737	1,286,440
Other creditors	609,229	609,229
	---------	------------
	638,966	1,895,669
	---------	------------

The bank loan is secured by the company's freehold property.

10. Financial instruments

The basic financial instruments are measured at cost or fair value. These consist of bank balances, debtors and creditors. Debtors and creditors are measured at the undiscounted amount of cash value expected to be received or paid.

11. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2024	2023	2024	2023
	£	£	£	£
Eclipse Hotels Management Limited	67,513	59,311	( 1,380,104)	( 1,407,327)
Eclipse Hotel (Heathrow Airport) Limited	–	–	( 1,185,000)	–
	--------	--------	------------	------------

Both the companies have common directors and shareholders. The transaction value relates to Management fees, Revenue management, payroll, HR, IT and Training fees paid to the above named company.