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Registered number: 09085662
Fortune Hotel (UK) Limited
ABRIDGED Financial Statements
For The Year Ended 30 September 2024
Cunnington and Co Limited
Edward House
Grange Business Park
Whetstone
Leicester
LE8 6EP
Contents
Page
Abridged Balance Sheet 1
Notes to the Abridged Financial Statements 2—3
Page 1
Abridged Balance Sheet
Registered number: 09085662
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,092,154 3,092,154
Investment Properties 6 2,665,694 2,665,694
5,757,848 5,757,848
CURRENT ASSETS
Debtors 7 4,628,494 4,164,346
Cash at bank and in hand 2,652 2,652
4,631,146 4,166,998
Creditors: Amounts Falling Due Within One Year (79,484 ) (76,838 )
NET CURRENT ASSETS (LIABILITIES) 4,551,662 4,090,160
TOTAL ASSETS LESS CURRENT LIABILITIES 10,309,510 9,848,008
Creditors: Amounts Falling Due After More Than One Year (10,753,835 ) (10,238,855 )
NET LIABILITIES (444,325 ) (390,847 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (444,425 ) (390,947 )
SHAREHOLDERS' FUNDS (444,325) (390,847)
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 September 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr D Kotak
Director
26th March 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Abridged Financial Statements
1. General Information
Fortune Hotel (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09085662 . The registered office is Edward House, Grange Business Park, Whetstone, Leicester, LE8 6EP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% Straight line method
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Total
£
Cost
As at 1 October 2023 3,092,154
As at 30 September 2024 3,092,154
Net Book Value
As at 30 September 2024 3,092,154
As at 1 October 2023 3,092,154
Page 2
Page 3
5. Tangible Assets
Total
£
Cost
As at 1 October 2023 49,149
As at 30 September 2024 49,149
Depreciation
As at 1 October 2023 49,149
As at 30 September 2024 49,149
Net Book Value
As at 30 September 2024 -
As at 1 October 2023 -
6. Investment Property
2024
£
Fair Value
As at 1 October 2023 and 30 September 2024 2,665,694
7. Debtors
2024 2023
£ £
Due after more than one year
Amounts owed by subsidiaries 4,587,472 4,129,449
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
10. Going Concern
The Company is heavily reliant on the director and other related parties to provide financing to fund its operations and capital expenditure. The director has indicated that he intends to continue that support until such time as the company's trading performance allows it to be self-financing.
11. Audit Information
The auditor's report on the accounts of Fortune Hotel (UK) Limited for the year ended 30 September 2024 was unqualified.
The auditor's report was signed by Graham Smith (Senior Statutory Auditor) for and on behalf of Cunnington & Co Ltd. , Statutory Auditor.
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