REGISTERED NUMBER: 10830162 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

AXCEL HOSPITALITY (YORK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Sunil Patel

Shamir Patel

REGISTERED OFFICE:

2nd Floor

29 Dingwall Road

Croydon

Surrey

CR0 2NB

REGISTERED NUMBER:

10830162 (England and Wales)

SENIOR STATUTORY AUDITOR:

Hazel Day BSc (Hons) FCA DChA

AUDITORS:

Xeinadin Audit Limited

Beckett House

36 Old Jewry

LONDON

EC2R 8DD

FIXED ASSETS

Tangible assets

4

6,868,192

6,627,842

CURRENT ASSETS

Debtors

5

12,839

298,183

Cash at bank and in hand

543,771

997,520

556,610

1,295,703

CREDITORS

Amounts falling due within one year

6

(115,681

)

(588,323

)

NET CURRENT ASSETS

440,929

707,380

TOTAL ASSETS LESS CURRENT LIABILITIES

7,309,121

7,335,222

CREDITORS

Amounts falling due after more than one year

7

(2,872,350

)

(3,684,739

)

NET ASSETS

4,436,771

3,650,483

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

4,436,671

3,650,383

SHAREHOLDERS' FUNDS

4,436,771

3,650,483

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 30th September 2025 and were signed on its behalf by:

Shamir Patel - Director

1.	STATUTORY INFORMATION

Axcel Hospitality (York) 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 44 Piccadilly, York, Y01 9NX.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment, except for properties which, once complete and available for use, are stated at market value.

Assets under construction, including the hotel currently being developed, are carried at cost and are not depreciated until they are available for use. Cost includes directly attributable expenditure required to bring the asset to its intended operational condition.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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.

Bank and cash accounting

Cash at bank and in hand includes cash and short-term highly liquid investments with a maturity of three months or less from the date of acquisition. Bank overdrafts are shown within borrowings in current liabilities.

Significant accounting estimates

The preparation of the financial statements in accordance with UK GAAP requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

Significant estimates and assumptions are made in particular with regard to determining the valuation of the company's hotel included in Tangible Fixed Assets. In line with many other company's in the industry, the hotel value is derived from assumed future trading results which are discounted using interest rates provided by commercial property experts.

Expenditure accounting policy

Expenditure is recognised in the profit and loss account on an accruals basis as the related goods and services are received. Costs are charged to the profit and loss account except where they relate to the acquisition of an asset, in which case they are capitalised in accordance with the company’s capitalisation policy.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1st January 2024

6,627,842

Additions

240,350

At 31st December 2024

6,868,192

NET BOOK VALUE

At 31st December 2024

6,868,192

At 31st December 2023

6,627,842

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

12,839

298,183

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

5,213

280,628

Amounts owed to group undertakings

-

298,235

VAT

16,197

-

Other creditors and accruals

94,271

3,049

Director's loan account

-

6,411

115,681

588,323

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

2,872,350

3,684,739

The amount owed to group undertakings is due after more than five years.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

1

100

100

9.

RESERVES

Retained

earnings

£

At 1st January 2024

3,650,383

Profit for the year

786,288

At 31st December 2024

4,436,671

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Hazel Day BSc (Hons) FCA DChA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are the directors Sunil Patel and Shamir Patel by virtue of having ownership of 100% of the issued ordinary share capital in the parent company Axcel Group Limited.