Company registration number 11227079 (England and Wales)
R.A.S. CHELTENHAM LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
R.A.S. CHELTENHAM LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
R.A.S. CHELTENHAM LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investments
3
9,349,754
9,349,754
Current assets
Debtors
5
5,253,575
5,620,222
Cash at bank and in hand
3,163
104,572
5,256,738
5,724,794
Creditors: amounts falling due within one year
6
(7,269,507)
(7,531,204)
Net current liabilities
(2,012,769)
(1,806,410)
Total assets less current liabilities
7,336,985
7,543,344
Creditors: amounts falling due after more than one year
7
(8,740,000)
(8,530,000)
Net liabilities
(1,403,015)
(986,656)
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
(1,403,115)
(986,756)
Total equity
(1,403,015)
(986,656)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 17 March 2026 and are signed on its behalf by:
Mr A Chadha
Director
Company registration number 11227079 (England and Wales)
R.A.S. CHELTENHAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

R.A.S. Cheltenham Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5th Floor, 3 Dorset Rise, London, EC4Y 8EN. The place of business is Flat 1, 10 Bourdon Street, Mayfair, London W1K 3PF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this company is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

At 31 March 202 true 5, the Company had net liabilities of £1,403,01 5 (2024: £986,6 56). Notwithstanding this, the director s have reviewed the company’s profit forecasts and financing facilities and at the time of approving the financial statements, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors have adopted the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue reflects the accrual of the right to consideration by reference to the value of the services rendered. Turnover not billed is included in debtors and amounts received on account in excess of the relevant amount of revenue are included in creditors.

1.4
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

R.A.S. CHELTENHAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8

Bank borrowings

Bank borrowings are initially stated in the b alance s heet at the fair value of the consideration received, net of direct finance costs. The finance costs, including issue costs, are charged to the profit and loss over the term of the borrowings.

2
Employees

The re were no employees during the current and prior year.

R.A.S. CHELTENHAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
3
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
9,349,754
9,349,754
4
Subsidiaries

Details of the company's subsidiaries at 31 March 2025 are as follows:

Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Premier Circuit Hotels Limited
England and Wales
Hotel operations
Ordinary
100.00
0
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
5,253,575
5,620,222
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
70,000
280,000
Trade creditors
71,268
1,464
Amounts owed to group undertakings
6,990,835
7,100,835
Other creditors
137,404
148,905
7,269,507
7,531,204

The bank loan is repayable by quarterly instalments of £70,000 commencing January 2026 with the balance payable on 27 November 2028. The loan bears interest at 2.05% plus SONIA and is secured by way of fixed and floating charges over the assets of the Company and its subsidiary, Premier Circuit Hotels Limited.

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
8,740,000
8,530,000
R.A.S. CHELTENHAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
9
Related party transactions

During the year under review, the company's parent charged interest of £40,219 (202 4: £4 0,110) and levied management and administration charges of £199,992 (202 4: £199,992).

During the year under review, the company charged interest of £217,375 (202 4: £2 55,006) and levied charges of £240,000 (202 4: £240,000) for advisory and management services to its subsidiary.

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