Elite Hotels Limited - Filleted accounts

Elite Hotels Limited - Filleted accounts

ELITE HOTELS LIMITED - Company Information

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Registered number
SC103199
Elite Hotels Limited
Filleted Accounts
31 July 2019
Elite Hotels Limited
Registered number: SC103199
Balance Sheet
as at 31 July 2019
Notes 2019 2018
£ £
Fixed assets
Tangible assets 2 1 1
Investments 3 898,090 898,090
898,091 898,091
Creditors: amounts falling due within one year 4 (31,520) (31,520)
Net current liabilities (31,520) (31,520)
Net assets 866,571 866,571
Capital and reserves
Called up share capital 50,000 50,000
Profit and loss account 816,571 816,571
Shareholders' funds 866,571 866,571
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P G Brown
Director
Approved by the board on 19 February 2020
Elite Hotels Limited
Notes to the Accounts
for the year ended 31 July 2019
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2018 7,708
At 31 July 2019 7,708
Depreciation
At 1 August 2018 7,707
At 31 July 2019 7,707
Net book value
At 31 July 2019 1
At 31 July 2018 1
3 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 August 2018 898,090
At 31 July 2019 898,090
4 Creditors: amounts falling due within one year 2019 2018
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 31,520 31,520
5 Controlling party
At the year end the ultimate holding company was Rivera Properties Management Limited, a company incorporated in the British Virgin Islands (current registered office Vistra Corporate Services, Wickhams Cay II, Road Town, Tortola, VG 1110, British Virgin Islands). Rivera Properties Management Limited ceased to be the ultimate holding company on 30th October 2019.

The ultimate controlling party is V Kulchitskiy by virtue of his direct and indirect beneficial interest in a majority of the company's issued share capital.
6 Other information
Elite Hotels Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Rothesay Terrace
Edinburgh
EH3 7RY
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