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Registered number: 06439651
THE MARQUIS HOTEL GROUP LTD
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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THE MARQUIS HOTEL GROUP LTD
REGISTERED NUMBER: 06439651
BALANCE SHEET
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
___________________________
Mr W M Sheldon
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___________________________
Mrs N Sheldon
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The notes on pages 2 to 7 form part of these financial statements.
Page 1
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THE MARQUIS HOTEL GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The Marquis Hotel Group Ltd is a private company limited by shares, incorporated in England and Wales. The company number is 06439651.
The registered office address is Henwood House, Henwood, Ashford, TN24 8DH.
The principal place of business is Alkham Valley Rd, Dover, CT15 7DF.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. 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 following principal accounting policies have been applied:
An entity is a going concern unless management either intends to liquidate the entity or to cease trading, or has no realistic alternative but to do so. During the year the activities and assets of this entity have been hived up to its new parent undertaking. The company is not considered to be a going concern at the time the financial statements are authorised for issue.
The financial statements have been prepared on a basis other than that of going concern basis. This basis includes, where applicable, writing the company's assets down to net realiseable value, and making provisions in respect of contracts which have become onerous at the balance sheet date. There have been no significant alterations to the existing accounting policies as these are considered to give a true and fair view.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Page 2
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THE MARQUIS HOTEL GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Investment property is carried at fair value determined annually by external valuers 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. Changes in fair value are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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The average monthly number of employees, including directors, during the year was 2 (2023 - 2).
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Page 3
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THE MARQUIS HOTEL GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Investments in subsidiary companies
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The auditors' report on the financial statements for the year ended 31 December 2024 was qualified.
The qualification in the audit report was as follows:
During the year, the company sold freehold property to related entities. Due to the timing of the sale contracts, the company continued to incur costs, totalling £662,805 that were not included as part of the legal documentation for the property sales but were recharged to the related entities. Based on the information available, we consider that the amounts recharged should have been reflected as turnover, with the associated costs reflected as cost of sales and not as fixed asset additions and disposals. The misclassification has no impact on the company’s pre-tax result for the year, nor the closing Balance Sheet position.
In their report, the auditors also emphasised the following matter without qualifying their report:
The financial statements have been prepared on a basis other than going concern. More details can found in note 2.2.
The audit report was signed on 7 July 2026 by Andrew John Childs FCA (Senior statutory auditor) on behalf of Magee Gammon Corporate Limited.
Page 4
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THE MARQUIS HOTEL GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Freehold investment property
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The 2024 valuations were made by the directors, on an open market value basis.
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If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
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Amounts owed by group undertakings
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Prepayments and accrued income
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Cash and cash equivalents
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Page 5
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THE MARQUIS HOTEL GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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The following liabilities were secured:
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Details of security provided:
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The bank loans were secured by way of a fixed and floating charge over the property of the company.
Page 6
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THE MARQUIS HOTEL GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Allotted, called up and fully paid
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800 (2023 - 800) Ordinary B shares of £1.00 each
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100 (2023 - 100) Ordinary C shares of £1.00 each
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100 (2023 - 100) Ordinary D shares of £1.00 each
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The company had entered into guarantees in favour of lenders to GSE Property Investments Limited. The amount outstanding at the balance sheet date subject to the guarantee was £Nil (2023 - £3,500,000).
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Related party transactions
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At the balance sheet date, £Nil (2023: £6,018,456) was due to companies under common control at the respective balance sheet date.
At the balance sheet date, £Nil (2023: £25,678) was due from companies under common control at the respective balance sheet date.
During the year, other related parties provided services to the company totalling £158,301 (2023: £127,602). At the balance sheet date, the amount outstanding was £Nil (2023: £133,305).
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Ultimate parent undertaking and controlling party
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At the balance sheet date, the immediate and ultimate parent undertaking is Contemporary Pubs Holdings Limited, a company incorporated in England and Wales.
Mr W Sheldon and Mrs N Sheldon are the controlling parties of the company by virtue of their shareholdings in the ultimate parent undertaking.
Page 7
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