Student Express Accommodation Ltd 31/05/2019 iXBRL

Student Express Accommodation Ltd 31/05/2019 iXBRL

STUDENT EXPRESS ACCOMMODATION LIMITED - Company Information

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31/05/2019 2019-05-31 false false false false false false false false false true true false false true false false false false false false false false No description of principal activities is disclosed 2018-06-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 07246644 2018-06-01 2019-05-31 07246644 2019-05-31 07246644 2018-05-31 07246644 bus:RegisteredOffice 2018-06-01 2019-05-31 07246644 bus:Director1 2018-06-01 2019-05-31 07246644 core:ShareCapital 2019-05-31 07246644 core:ShareCapital 2018-05-31 07246644 bus:SmallEntities 2018-06-01 2019-05-31 07246644 bus:AuditExempt-NoAccountantsReport 2018-06-01 2019-05-31 07246644 bus:FullAccounts 2018-06-01 2019-05-31 07246644 bus:SmallCompaniesRegimeForAccounts 2018-06-01 2019-05-31 07246644 bus:EntityHasNeverTraded 2018-06-01 2019-05-31 07246644 bus:PrivateLimitedCompanyLtd 2018-06-01 2019-05-31
Company registration number: 07246644
Student Express Accommodation Ltd
Unaudited financial statements
31 May 2019
Student Express Accommodation Ltd
Contents
Directors and other information
Directors report
Statement of financial position
Notes to the financial statements
Student Express Accommodation Ltd
Directors and other information
Directors Mr Nashatar Bains
Company number 07246644
Registered office 20 Nursery Court
Kibworth Harcourt
Leicestershire
LE8 0EX
Student Express Accommodation Ltd
Directors report
Year ended 31 May 2019
The directors present their report and the unaudited financial statements of the company for the year ended 31 May 2019.
The company has been dormant as defined in section 1169 of the Companies Act 2006 throughout the year and preceding financial year. It is anticipated that the company will remain dormant for the foreseeable future.
Directors
The directors who served the company during the year were as follows:
Mr Nashatar Bains
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 18 February 2020 and signed on behalf of the board by:
Mr Nashatar Bains
Director
Student Express Accommodation Ltd
Statement of financial position
31 May 2019
2019 2018
Note £ £ £ £
Current assets
Cash at bank and in hand 100 100
_______ _______
100 100
Net current assets 100 100
_______ _______
Total assets less current liabilities 100 100
_______ _______
Net assets 100 100
_______ _______
Capital and reserves
Called up share capital 100 100
_______ _______
Shareholders funds 100 100
_______ _______
The company did not trade during the current year or prior year and has not made either a profit or loss.
For the year ending 31 May 2019 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the board of directors and authorised for issue on 18 February 2020 , and are signed on behalf of the board by:
Mr Nashatar Bains
Director
Company registration number: 07246644
Student Express Accommodation Ltd
Notes to the financial statements
Year ended 31 May 2019
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 20 Nursery Court, Kibworth Harcourt, Leicestershire, LE8 0EX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 June 2017. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 44.
Income statement policy
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or prior year and therefore no income statement is presented within these financial statements. There have been no movements in equity during the current year or prior year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 June 2017.
Reconciliation of equity
No transitional adjustments were required.
Reconciliation of profit or loss for the year
No transitional adjustments were required.