Sutton Aparthotel Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09485941 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2018

FOR

SUTTON APARTHOTEL LTD

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTOR:

P Patel

REGISTERED OFFICE:

37 West Street

Croydon

Surrey

CR0 1DJ

REGISTERED NUMBER:

09485941 (England and Wales)

ACCOUNTANTS:

Kings Mill Partnership

75 Park Lane

Croydon

Surrey

CR9 1XS

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Sutton Aparthotel Ltd for the period ended 30th September 2016 which comprise the Profit and

Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject

to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Sutton Aparthotel Ltd, as a body, in accordance with our terms of

engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sutton

Aparthotel Ltd and state those matters that we have agreed to state to the Board of Directors of Sutton Aparthotel Ltd, as

a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted

by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a

body, for our work or for this report.

It is your duty to ensure that Sutton Aparthotel Ltd has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Sutton Aparthotel

Ltd . You consider that Sutton Aparthotel Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Sutton Aparthotel Ltd. For

this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations

you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Kings Mill Partnership

75 Park Lane

Croydon

Surrey

CR9 1XS

3 May 2019

FIXED ASSETS

Intangible assets

3

96,875

111,875

Tangible assets

4

1,319,041

1,333,214

1,415,916

1,445,089

CURRENT ASSETS

Debtors

5

23,118

31,701

Cash at bank and in hand

4,735

9,063

27,853

40,764

CREDITORS

Amounts falling due within one year

6

173,043

305,025

NET CURRENT LIABILITIES

(145,190

)

(264,261

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,270,726

1,180,828

CREDITORS

Amounts falling due after more than one year

7

1,191,190

1,155,590

NET ASSETS

79,536

25,238

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

79,436

25,138

SHAREHOLDERS' FUNDS

79,536

25,238

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 3 May 2019 and were signed by:

P Patel - Director

1.	STATUTORY INFORMATION

Sutton Aparthotel 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.

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.

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 represents the amounts receivable for accommodation for serviced apartments and related services net

of VAT.

Goodwill

Goodwill has been capitalised under the heading of Intangible Fixed Assets. The director has undertaken an

impairment review of the goodwill, taking account of future cash flows and current operating results. Goodwill is

amortised through the Profit and Loss Account over a period not exceeding 10 years, estimated by the Directors

to be the useful economic life.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Land and buildings

-

Not depreciated

Plant and machinery etc

-

25% per annum on straight line method

It is company policy to maintain the freehold property in a continuous state of good repair. The directors

consider that the life of the freehold property is long and the estimated residual values at the end of the useful

economic life is such that any depreciation is immaterial. The carrying value is reviewed for impairment

annually.

Based on the above, no charge has been made in the accounts for depreciation of the freehold property.

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.

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2017

and 30 September 2018

150,000

AMORTISATION

At 1 October 2017

38,125

Charge for year

15,000

At 30 September 2018

53,125

NET BOOK VALUE

At 30 September 2018

96,875

At 30 September 2017

111,875

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2017

and 30 September 2018

1,309,965

56,693

1,366,658

DEPRECIATION

At 1 October 2017

-

33,444

33,444

Charge for year

-

14,173

14,173

At 30 September 2018

-

47,617

47,617

NET BOOK VALUE

At 30 September 2018

1,309,965

9,076

1,319,041

At 30 September 2017

1,309,965

23,249

1,333,214

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

11,202

5,743

Other debtors

11,916

25,958

23,118

31,701

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

84,415

175,170

Trade creditors

54,800

83,293

Taxation and social security

25,876

-

Other creditors

7,952

46,562

173,043

305,025

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

811,290

775,690

Other creditors

379,900

379,900

1,191,190

1,155,590

Shareholder loans are repayable after five years and there is no interest payable.