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Registered number: 08374119
THE RESIDENT VICTORIA LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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THE RESIDENT VICTORIA LIMITED
REGISTERED NUMBER: 08374119
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Creditors: amounts falling due within one year
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Net current assets/(liabilities)
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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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 comprehensive income 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:
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J Adams
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The notes on pages 3 to 11 form part of these financial statements.
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THE RESIDENT VICTORIA LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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Transfer to/from profit and loss account
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The notes on pages 3 to 11 form part of these financial statements.
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THE RESIDENT VICTORIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Resident Victoria Limited is a private company, limited by shares, incorporated and registered in England and Wales. The Company's registered number is 08374119 and registered office address is Unit 4, The Whitehouse, 9 Belvedere Road, London, England, SE1 8YS. The principal place of business is 10 Palace Place, Westminster, London, SW1E 5BW.
The principal activity of the Company is that of a hotelier.
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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons.
The directors have prepared cash flow forecasts for a period of at least 12 months from the date of approval of these financial statements which indicate that the Company will have sufficient funds, through continued funding from Western Heritable Limited, a Company under common control which has confirmed that it does not tend to seek repayment of such funds for the period covered by the forecasts, to meet its liabilities as they fall due for that period.
Consequently, the directors are confident that the Company will have sufficient funds to contribute to meets its liabilities as they fall due for a period of 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.
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.
Revenue from accommodation, food and beverages and other ancillary services are recognised on the date of delivery of the service, as this is the date on which the risks and rewards transfer from the Company to the customer. Any amounts received before the end of the reporting period in respect of the provision of accommodation and services after the reporting period are treated accordingly as deferred revenues.
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THE RESIDENT VICTORIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
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.
Interest income is recognised in profit or loss using the effective interest method.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
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THE RESIDENT VICTORIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
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Long-term leasehold property
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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THE RESIDENT VICTORIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Short term debtors are measured at transaction price, less any impairment.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
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.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
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THE RESIDENT VICTORIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Judgements in applying accounting policies and key sources of estimation uncertainty
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In the process of applying its accounting policies, the Company is required to make certain estimates, judgements and assumptions that it believes are reasonable based on the information available. These judgements, estimates and assumptions affect the amounts of assets and liabilities at the date of the financial statements and the amounts of revenues and expenses recognised during the reporting periods presented.
On an ongoing basis, the Company evaluates its estimates using historical experience, consultation with experts and other methods considered reasonable in the particular circumstances. Actual results may differ significantly from the estimates, the effect of which is recognised in the period in which the facts that give rise to the revision become known.
Going concern
The directors have used judgement in determining that the Company is a going concern. See note 2.2 for further details.
Present value of shareholder loans
Included within Other loans payable are loans to shareholders of £980,000 (2024: £905,787) which are non-interest bearing and are repayable at such time and in such amounts as the Company determines. They are accounted for at the present value of estimated future cash flows and in recognising their present value management are required to estimate both the future cash flows and the market rate of interest of 6% for a similar financial liability to discount the loan with. Slight changes in these assumptions could have a material impact on the present value of shareholders loan and the interest payable in the Income Statement recognised in relation to the unwinding of the discounted loan of £55,472 (2024: £51,274).
The estimation of future loan repayments is particularly prone to estimation uncertainty, with the impact of COVID-19 on the business in recent years for example resulting in significant revisions to the timing and amounts of estimated future cash flows. As a result of these changes there has been a £18,741 increase in the present value of shareholder loans during 2025 (2024: £nil).
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The Company has no employees other than the directors, who did not receive any remuneration (2024: £nil).
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THE RESIDENT VICTORIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Long-term leasehold property
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THE RESIDENT VICTORIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Prepayments and accrued Income
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Amounts owed by associates are unsecured, interest free, and payable on demand.
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Creditors: amounts falling due within one year
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Amounts owed to associates
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Other taxation and social security
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Accruals and deferred income
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Included within amounts owed by associates is a loan payable to The Sirius Hotel Group Limited of £300,000 which is unsecured, payable on demand and subject to interest at 5% per annum. The loan facility expires on 31 December 2028 at which point all remaining amounts due become fully repayable.
All other amounts owed by associates are unsecured, repayable on demand and subject to interest payable at 5% per annum.
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Creditors: amounts falling due after more than one year
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THE RESIDENT VICTORIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 2-5 years
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Amounts falling due after more than 5 years
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Other loans includes an unsecured loan of £428,783 (2024: £914,783), plus accrued interest of £142,911 (2024: £105,279), owed to Western Heritable Limited, a Company under common control, which is repayable upon demand. Interest is charged at 5% per annum.
Other loans also includes loans from shareholders of £980,000 (2024: £905,787) that are non-interest bearing and unsecured. The loans are repayable at such time and in such amounts as the Company determines.
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Charged to profit or loss
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The deferred tax asset is made up as follows:
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Accelerated capital allowances
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THE RESIDENT VICTORIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Distribution reserve
Relates to the amounts discounted from the value of the shareholders loans.
Profit and loss account
Includes all current and prior period retained profits and losses.
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Commitments under operating leases
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At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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The directors do not consider there to be an ultimate controlling party.
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.
The audit report was signed on 14 August 2026 by David Lyons (Senior Statutory Auditor) on behalf of HaysMac LLP.
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