Interstate UK Holdco Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08593653 (England and Wales)

Financial Statements for the Year Ended 31 December 2021

for

Interstate UK Holdco

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Darren John Brennen

Gregory James Moundas

SECRETARY:

Gregory James Moundas

REGISTERED OFFICE:

Riverbank House

2 Swan Lane

London

EC4R 3TT

REGISTERED NUMBER:

08593653 (England and Wales)

SENIOR STATUTORY AUDITOR:

James R Weir

AUDITORS:

Stevenson & Kyles

Chartered Accountants

Statutory Auditor

25 Sandyford Place

Glasgow

G3 7NG

FIXED ASSETS

Investments

4

74,085,564

12,646,363

CURRENT ASSETS

Debtors

5

280

480

Cash at bank

1,000

2,467

1,280

2,947

CREDITORS

Amounts falling due within one year

6

4,000

4,981

NET CURRENT LIABILITIES

(2,720

)

(2,034

)

TOTAL ASSETS LESS CURRENT LIABILITIES

74,082,844

12,644,329

CREDITORS

Amounts falling due after more than one year

7

1,509,106

1,480,862

NET ASSETS

72,573,738

11,163,467

CAPITAL AND RESERVES

Called up share capital

8

13,059,488

11,349,484

Share premium

59,729,198

-

Retained earnings

(214,948

)

(186,017

)

SHAREHOLDER FUNDS

72,573,738

11,163,467

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2022 and were signed on its behalf by:

Darren John Brennen - Director

1.	STATUTORY INFORMATION

Interstate UK Holdco Limited 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.

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

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.

Preparation of consolidated financial statements

The financial statements contain information about Interstate UK Holdco Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Aimbridge Acquisition Co, Inc., 5851 Legacy Circle, Suite 400, Plano, TX 75024.

Significant judgements and estimates

In the application of the group's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may vary from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimated are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Investments in subsidiaries

Investments in subsidiary undertakings are carried at cost less impairment. Where, in the opinion of the Directors, there is evidence to suggest impairment of investments in subsidiary undertakings, they estimate the value of the asset with reference to a multiple of achievable earnings.

Financial instruments

Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Grant income

Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the Statement of Income & Retained Earnings over the same period as the expense it is intended to compensate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2021

12,646,363

Additions

121,168,401

Disposals

(59,729,200

)

At 31 December 2021

74,085,564

NET BOOK VALUE

At 31 December 2021

74,085,564

At 31 December 2020

12,646,363

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

VAT debtor

280

480

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

-

480

Accrued charges

4,000

4,501

4,000

4,981

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Amounts owed to group undertakings

1,509,106

1,480,862

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

13,059,488

Ordinary

£1

13,059,488

11,349,484

1,710,004 Ordinary shares of £1 each were allotted and fully paid for cash at par during the year.

1,710,000 Ordinary shares of £1 each were allotted and fully paid for cash at par during the year. A further 4 Ordinary shares were allotted and fully paid for consideration of £14,932,299.50 per share.

There is one class of ordinary share which carried full voting rights but no right to fixed income or repayment of capital.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

James R Weir (Senior Statutory Auditor)

for and on behalf of Stevenson & Kyles

10.	RELATED PARTY DISCLOSURES

The company is exempt from the requirement to disclose transactions and balances with fellow group members as the results of all relevant parties have been included in the consolidated accounts of Aimbridge Acquisition, Inc., a Delaware corporation.

11.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

12.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Interstate Hotel Management System - Interstate Management Services S.A.R.L. a company registered in the Grand Duchy of Luxembourg. The results of the company have been included in the consolidated accounts of a US company, Aimbridge Acquisitions Co, Inc.

Copies of the group financial statements of Aimbridge Acquisition Co, Inc, are available from 5301Headquarters Drive, Plano, TX 75024.

The ultimate controlling party is Aimbridge Group Holdings L.P., a US registered entity.