Sutton Aparthotel Ltd - Period Ending 2021-09-30

Sutton Aparthotel Ltd - Period Ending 2021-09-30


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Registration number: 09485941

Sutton Aparthotel Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 September 2021

 

Sutton Aparthotel Ltd

Contents

Company Information

1

Accountants' Report

2

Abridged Statement of Financial Position

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 8

 

Sutton Aparthotel Ltd

Company Information

Director

P Patel

Registered office

79 Park Lane
Croydon
Surrey
CR0 1JG

Accountants

DSK Partners LLP
Chartered Accountants
75 Park Lane
Croydon
Surrey
CR9 1XS

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Sutton Aparthotel Ltd
for the Year Ended 30 September 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Sutton Aparthotel Ltd for the year ended 30 September 2021 as set out on pages 3 to 8 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Sutton Aparthotel Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts 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 ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sutton Aparthotel Ltd 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 accounts that give a true and fair view of the assets, liabilities, financial position and profit of Sutton Aparthotel Ltd. You consider that Sutton Aparthotel Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts 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 accounts.

......................................

DSK Partners LLP
Chartered Accountants
75 Park Lane
Croydon
Surrey
CR9 1XS

20 January 2022

 

Sutton Aparthotel Ltd

(Registration number: 09485941)
Abridged Statement of Financial Position as at 30 September 2021

Note

2021
£

2020
£

Fixed assets

 

Intangible assets

4

51,875

66,875

Tangible assets

5

1,309,966

1,309,966

 

1,361,841

1,376,841

Current assets

 

Debtors

2,839

-

Cash at bank and in hand

 

60,771

45,275

 

63,610

45,275

Prepayments and accrued income

 

2,934

2,232

Creditors: Amounts falling due within one year

(114,889)

(51,271)

Net current liabilities

 

(48,345)

(3,764)

Total assets less current liabilities

 

1,313,496

1,373,077

Creditors: Amounts falling due after more than one year

(1,007,256)

(1,157,732)

Accruals and deferred income

 

(4,300)

(4,458)

Net assets

 

301,940

210,887

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

301,840

210,787

Shareholders' funds

 

301,940

210,887

For the financial year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

 

Sutton Aparthotel Ltd

(Registration number: 09485941)
Abridged Statement of Financial Position as at 30 September 2021 (continued)

All of the company’s members have consented to the preparation of an Abridged Statement of Financial Position in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 20 January 2022
 

.........................................
P Patel
Director

 

Sutton Aparthotel Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
79 Park Lane
Croydon
Surrey
CR0 1JG
England

The presentation currency of the financial statements is Pound Sterling (£).

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Sutton Aparthotel Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2021 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

not depreciated

Plant and Machinery etc

25% per annum on a straight line method

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Sutton Aparthotel Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2021 (continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Income Statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2020 - 0).

 

Sutton Aparthotel Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2021 (continued)

4

Intangible assets

Total
£

Cost or valuation

At 1 October 2020

150,000

At 30 September 2021

150,000

Amortisation

At 1 October 2020

83,125

Amortisation charge

15,000

At 30 September 2021

98,125

Carrying amount

At 30 September 2021

51,875

At 30 September 2020

66,875

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2020

1,309,965

56,693

1,366,658

At 30 September 2021

1,309,965

56,693

1,366,658

Depreciation

At 1 October 2020

-

56,692

56,692

At 30 September 2021

-

56,692

56,692

Carrying amount

At 30 September 2021

1,309,965

1

1,309,966

At 30 September 2020

1,309,965

1

1,309,966