Interstate Hotels UK Limited - Accounts to registrar (filleted) - small 18.2
Interstate Hotels UK Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 December 2018 |
| for |
| Interstate Hotels UK |
| Limited |
| Interstate Hotels UK |
| Limited (Registered number: SC163523) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Interstate Hotels UK |
| Limited |
| Company Information |
| for the Year Ended 31 December 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Chartered Accountants |
| Statutory Auditor |
| 25 Sandyford Place |
| Glasgow |
| G3 7NG |
| Interstate Hotels UK |
| Limited (Registered number: SC163523) |
| Balance Sheet |
| 31 December 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 3 |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 on its behalf by: |
| Interstate Hotels UK |
| Limited (Registered number: SC163523) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2018 |
| 1. | STATUTORY INFORMATION |
| Interstate Hotels UK Limited is a |
| 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 |
| Related party exemption |
| 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. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding |
| discounts, rebates, value added tax and other sales taxes. |
| Domain name |
| This balance represents the amount paid in connection with the acquisition of a domain name, and is |
| being amortised over it's expected useful life of ten years. |
| Advance payments on contracts |
| These are payments in advance of contracts being fully recognised. This asset will be amortised, when |
| the associated revenue streams commence, over the expected term of each contract. |
| Tangible fixed assets |
| Fittings and equipment | - |
| Computer equipment | - |
| Financial instruments |
| Basic financial instruments, including debtors and creditors with no stated interest rate and receivable |
| or payable within one year, are recorded at transaction price. Any losses arising from impairment are |
| recognised in the profit and loss account in administrative expenses. |
| Interstate Hotels UK |
| Limited (Registered number: SC163523) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
| the balance sheet 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period |
| of the lease. |
| Interstate Hotels UK |
| Limited (Registered number: SC163523) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 3. | INTANGIBLE FIXED ASSETS |
| Advance |
| payments |
| Domain | on |
| name | contracts | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2018 |
| Reclassification/transfer | ( |
) | ( |
) |
| At 31 December 2018 |
| AMORTISATION |
| At 1 January 2018 |
| Amortisation for year |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| 4. | TANGIBLE FIXED ASSETS |
| Fittings |
| and | Computer |
| equipment | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2018 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2018 |
| DEPRECIATION |
| At 1 January 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| Interstate Hotels UK |
| Limited (Registered number: SC163523) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Deferred tax asset |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Social security and other taxes |
| Sundry creditors and accruals |
| 7. | LEASING AGREEMENTS |
| The total lease payments payable under non-cancellable leases amounted to £282,491 (2017-£ |
| 72,500). |
| 8. | PROVISIONS FOR LIABILITIES |
| 2017 |
| £ |
| Deferred tax | 1,785 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2018 |
| Credit to Income Statement during year | ( |
) |
| Balance at 31 December 2018 | ( |
) |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| Interstate Hotels UK |
| Limited (Registered number: SC163523) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 10. | RELATED PARTY DISCLOSURES |
| The company is exempt from the requirement to disclose transactions and balances with fellow group |
| members as the results of all relevant parties have been included in the consolidated accounts of |
| Interstate Hotels & Resorts Inc, a Delaware corporation. |
| 11. | APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
| In common with many other businesses of our size and nature we use our auditors to prepare and |
| submit returns to the tax authorities and assist with the preparation of the financial statements. |
| 12. | ULTIMATE CONTROLLING PARTY |
| The company is a wholly owned subsidiary of the United Kingdom. The results of the company have been included in the consolidated accounts of a US company, Interstate Hotels & Resorts Inc, a Delaware corporation. |
| Copies of the group financial statements of North Fairfax Drive, Arlington, VA 22203. |
| The ultimate controlling party is Kohlberg Management VII, L.P. |