Beverley Express Victoria Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10690284

Beverley Express Victoria Limited

Filleted Unaudited Financial Statements

For the year ended

31 December 2024

Beverley Express Victoria Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		15,767,308	15,868,566

Current assets

Debtors	6	7,215,523	6,531,210
Cash at bank and in hand		387,154	273,125
		------------	------------
		7,602,677	6,804,335

Creditors: amounts falling due within one year	7	965,566		719,815
		------------		------------
Net current assets			6,637,111	6,084,520
			-------------	-------------
Total assets less current liabilities			22,404,419	21,953,086

Creditors: amounts falling due after more than one year	8		18,524,602	3,180,335

Provisions

Taxation including deferred tax	125,164	125,164
	-------------	-------------
Net assets	3,754,653	18,647,587
	-------------	-------------

Beverley Express Victoria Limited

Statement of Financial Position (continued)

31 December 2024

	2024		2023
Note	£	£	£

Capital and reserves

Called up share capital	1,722,680	17,226,799
Profit and loss account	2,031,973	1,420,788
	------------	-------------
Shareholders funds	3,754,653	18,647,587
	------------	-------------

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 .

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

Mrs M Boghani-Nathoo

Director

Company registration number: 10690284

Beverley Express Victoria 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 Holiday Inn Express Victoria, 106-110 Belgrave Road, London, SW1V 2BJ, England.

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

The financial statements have been prepared on the historical cost basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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.

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.

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 property	-	2% straight line
Fixtures and fittings	-	12% straight line
Motor vehicles	-	20% straight line
Equipment	-	33% straight line

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.

Financial instruments

The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 24 (2023: 21 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 January 2024	15,600,000	1,723,665	18,761	17,342,426
Additions	–	58,404	24,157	82,561
	-------------	------------	--------	-------------
At 31 December 2024	15,600,000	1,782,069	42,918	17,424,987
	-------------	------------	--------	-------------
Depreciation
At 1 January 2024	390,000	1,069,410	14,450	1,473,860
Charge for the year	78,000	94,291	11,528	183,819
	-------------	------------	--------	-------------
At 31 December 2024	468,000	1,163,701	25,978	1,657,679
	-------------	------------	--------	-------------
Carrying amount
At 31 December 2024	15,132,000	618,368	16,940	15,767,308
	-------------	------------	--------	-------------
At 31 December 2023	15,210,000	654,255	4,311	15,868,566
	-------------	------------	--------	-------------

6. Debtors

	2024	2023
	£	£
Trade debtors	36,893	84,231
Amounts owed by group undertakings and undertakings in which the company has a participating interest	2,533,460	–
Other debtors	4,645,170	6,446,979
	------------	------------
	7,215,523	6,531,210
	------------	------------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	206,664	206,664
Trade creditors	78,672	66,252
Social security and other taxes	441,004	325,378
Other creditors	239,226	121,521
	---------	---------
	965,566	719,815
	---------	---------

Bank loans are secured against assets to which they relate. Also included within bank loans is a Coronavirus business interruption loan. The lender has been provided with a guarantee from the UK Government.

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

	2024	2023
	£	£
Bank loans and overdrafts	3,020,483	3,180,335
Amounts owed to group undertakings and undertakings in which the company has a participating interest	15,504,119	–
	-------------	------------
	18,524,602	3,180,335
	-------------	------------

Bank loans are secured against assets to which they relate. Also included within bank loans is a Coronavirus business interruption loan. The lender has been provided with a guarantee from the UK Government.

9. Directors' advances, credits and guarantees

The company operated a loan account with the directors, at the start of the year the company was owed £723,583. Further advances of £391,690 were made and at the year end the company was owed £1,115,263. Interest was charged at the official rate and the loan is repayable on demand.

10. Related party transactions

During the year, the company completed a restructure and became a wholly owned subsidiary of Beverley Hospitality Group Limited. This included a capital reduction resulting in the cancellation of £15,504,119 ordinary shares.