Hotel Technology Management (HTM) Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04437693 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

FOR

HOTEL TECHNOLOGY MANAGEMENT (HTM) LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

S E Alexander

Mrs V Alexander

SECRETARY:

S E Alexander

REGISTERED OFFICE:

2 Jardine House

Harrovian Business Village

Bessborough Road

Harrow

Middlesex

HA1 3EX

REGISTERED NUMBER:

04437693 (England and Wales)

ACCOUNTANTS:

Barber & Company

A trading name of PCM Accounting Limited

2 Jardine House

Harrovian Business Village

Bessborough Road

Harrow

Middlesex

HA1 3EX

FIXED ASSETS

Property, plant and equipment

4

135,050

113,448

Investments

5

459,436

452,866

594,486

566,314

CURRENT ASSETS

Inventories

6

54,695

18,344

Debtors

7

927,940

596,267

Cash at bank

755,240

1,188,925

1,737,875

1,803,536

CREDITORS

Amounts falling due within one year

8

547,813

530,697

NET CURRENT ASSETS

1,190,062

1,272,839

TOTAL ASSETS LESS CURRENT LIABILITIES

1,784,548

1,839,153

PROVISIONS FOR LIABILITIES

15,465

16,745

NET ASSETS

1,769,083

1,822,408

CAPITAL AND RESERVES

Called up share capital

10

80

80

Capital redemption reserve

20

20

Retained earnings

1,768,983

1,822,308

SHAREHOLDERS' FUNDS

1,769,083

1,822,408

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2023 and were signed on its behalf by:

S E Alexander - Director

1.	STATUTORY INFORMATION

Hotel Technology Management (HTM) Ltd 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 (£).

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.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

20% on reducing balance

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments

Fixed asset investments are stated at original cost.

An annual imparement review is carried out by the board and full provision made for any permanent diminution in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2021 - 16 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 September 2021

44,397

9,881

14,890

Additions

-

-

124

Disposals

-

-

-

At 31 August 2022

44,397

9,881

15,014

DEPRECIATION

At 1 September 2021

21,666

7,163

5,957

Charge for year

4,546

543

1,811

Eliminated on disposal

-

-

-

At 31 August 2022

26,212

7,706

7,768

NET BOOK VALUE

At 31 August 2022

18,185

2,175

7,246

At 31 August 2021

22,731

2,718

8,933

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 September 2021

84,239

61,605

215,012

Additions

37,736

27,612

65,472

Disposals

(6,495

)

-

(6,495

)

At 31 August 2022

115,480

89,217

273,989

DEPRECIATION

At 1 September 2021

36,122

30,656

101,564

Charge for year

21,174

14,640

42,714

Eliminated on disposal

(5,339

)

-

(5,339

)

At 31 August 2022

51,957

45,296

138,939

NET BOOK VALUE

At 31 August 2022

63,523

43,921

135,050

At 31 August 2021

48,117

30,949

113,448

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.8.22

31.8.21

£

£

Fixed asset investments

459,436

452,866

6.	INVENTORIES

31.8.22

31.8.21

£

£

Stocks

54,695

18,344

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

£

Trade debtors

680,900

217,643

Other debtors

9,513

6,238

Directors' current accounts

-

193,102

Corporation Tax

37,559

26,738

Prepayments and accrued income

199,968

152,546

927,940

596,267

The overdrawn Directors' current account was repaid within 9 months of the year end.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

£

Trade creditors

100,739

78,847

Corporation Tax

-

10,821

Other taxation and social security

116,419

71,152

Other creditors

42,120

49,092

Directors' current accounts

440

-

Accruals and deferred income

288,095

320,785

547,813

530,697

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.8.22

31.8.21

£

£

Within one year

82,854

40,599

Between one and five years

220,005

111,251

In more than five years

35,750

61,944

338,609

213,794

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.22

31.8.21

value:

£

£

80

Ordinary

£1

80

80

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2022 and 31 August 2021:

31.8.22

31.8.21

£

£

S E Alexander

Balance outstanding at start of year

193,101

82,270

Amounts advanced

8,209

110,831

Amounts repaid

(200,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,310

193,101

Mr S Alexander is director and owner of the company's entire equity share capital.

Rent paid to Mr Alexander during the year amounted to £Nil (2020: £3,000).

12.	ULTIMATE CONTROLLING PARTY

Throughout the year, the company was under the control of Mr S E Alexander, its sole director and majority shareholder.