ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

LUTON HOTEL RESIDENCE LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-11-302021-11-30false2020-12-01false4property management4trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10196233 2020-12-01 2021-11-30 10196233 2019-05-31 2020-11-30 10196233 2021-11-30 10196233 2020-11-30 10196233 c:Director3 2020-12-01 2021-11-30 10196233 d:CurrentFinancialInstruments 2021-11-30 10196233 d:CurrentFinancialInstruments 2020-11-30 10196233 d:Non-currentFinancialInstruments 2021-11-30 10196233 d:Non-currentFinancialInstruments 2020-11-30 10196233 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 10196233 d:CurrentFinancialInstruments d:WithinOneYear 2020-11-30 10196233 d:Non-currentFinancialInstruments d:AfterOneYear 2021-11-30 10196233 d:Non-currentFinancialInstruments d:AfterOneYear 2020-11-30 10196233 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-11-30 10196233 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2020-11-30 10196233 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-11-30 10196233 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2020-11-30 10196233 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-11-30 10196233 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2020-11-30 10196233 d:ShareCapital 2021-11-30 10196233 d:ShareCapital 2020-11-30 10196233 d:RetainedEarningsAccumulatedLosses 2021-11-30 10196233 d:RetainedEarningsAccumulatedLosses 2020-11-30 10196233 c:FRS102 2020-12-01 2021-11-30 10196233 c:AuditExempt-NoAccountantsReport 2020-12-01 2021-11-30 10196233 c:FullAccounts 2020-12-01 2021-11-30 10196233 c:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30 10196233 2 2020-12-01 2021-11-30 iso4217:GBP xbrli:pure

Registered number: 10196233

LUTON HOTEL RESIDENCE LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

LUTON HOTEL RESIDENCE LIMITED

REGISTERED NUMBER: 10196233

STATEMENT OF FINANCIAL POSITION

AS AT 30 NOVEMBER 2021

		2021		2020
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	40,479		121,907
Cash at bank and in hand	5	70		43,282
		40,549		165,189
Creditors: amounts falling due within one year	6	(1,800)		(77,453)
Net current assets			38,749		87,736
Total assets less current liabilities			38,749		87,736
Creditors: amounts falling due after more than one year	7		-		(47,083)

Net assets			38,749		40,653

Capital and reserves
Called up share capital	100	100
Profit and loss account	38,649	40,553
	38,749	40,653

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LUTON HOTEL RESIDENCE LIMITED

REGISTERED NUMBER: 10196233

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 NOVEMBER 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 August 2022.

Ms G Anacreonte

Director

The notes on pages 3 to 6 form part of these financial statements.

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LUTON HOTEL RESIDENCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

1.	General information

The Company is a private company limited by shares, registered in England and wales. The address of the registered office in Luton Hotel Residence Limited, Leytonstone House, 3 Hanbury Drive, Leytonstone, E11 1GA.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Statement of comprehensive income at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

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LUTON HOTEL RESIDENCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)

2.5

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

2.6

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.8

Taxation

Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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LUTON HOTEL RESIDENCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)

2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 4 (2020 - 4).

Debtors

					2021	2020
					£	£


Other debtors	40,479	121,606
Prepayments and accrued income	-	301
	40,479	121,907

5.	Cash and cash equivalents
		2021	2020
		£	£

	Cash at bank and in hand	70	43,282

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LUTON HOTEL RESIDENCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

6.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Bank loans	-	2,917
Trade creditors	-	384
Other taxation and social security	-	3,749
Other creditors	-	67,603
Accruals and deferred income	1,800	2,800
	1,800	77,453

7.	Creditors: Amounts falling due after more than one year
		2021	2020
		£	£

	Bank loans	-	47,083

Amounts falling due within one year
Bank loans	-	2,917
Amounts falling due 1-2 years
Bank loans	-	5,000
Amounts falling due 2-5 years
Bank loans	-	15,000
Amounts falling due after more than 5 years
Bank loans	-	27,083
	-	50,000

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