A04 - Final Accounts

HOSPITALITY INVESTMENTS LIMITED - Company Information

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Registered number: 08365774

HOSPITALITY INVESTMENTS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

HOSPITALITY INVESTMENTS LIMITED

REGISTERED NUMBER: 08365774

BALANCE SHEET

AS AT 31 MARCH 2021

		2021		2020
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	93,329		113,911
Cash at bank and in hand	5	11,572		1,223
		104,901		115,134
Creditors: amounts falling due within one year	6	(79,263)		(100,283)
Net current assets			25,638		14,851
Total assets less current liabilities			25,638		14,851
Creditors: amounts falling due after more than one year	7		(15,000)		-

Net assets			10,638		14,851

Capital and reserves
Called up share capital	1,000	1,000
Profit and loss account	9,638	13,851
	10,638	14,851

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HOSPITALITY INVESTMENTS LIMITED

REGISTERED NUMBER: 08365774

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2021

The director considers 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 director acknowledges his 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 income and retained earnings 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 by:

Mr I Hashmi

Director

Date: 22 December 2021

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

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HOSPITALITY INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1.	General information

Hospitality Investments Limited is a private limited company incorporated in England and Wales.
The company's registered number is 08365774.
The company's registered address is 8 King Edward Street, Oxford, OX1 4HL.

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

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

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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HOSPITALITY INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.6

Taxation

Tax is recognised in profit or loss 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 balance sheet date in the countries where the Company operates and generates income.

2.7

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.

2.8

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.

2.9

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.

2.10

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.

2.11

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.

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HOSPITALITY INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).

Debtors

					2021	2020
					£	£


Other debtors	93,329	113,911
	93,329	113,911

5.	Cash and cash equivalents
		2021	2020
		£	£

Cash at bank and in hand	11,572	1,223
	11,572	1,223

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

Bank loans	3,000	-
Trade creditors	2,500	24,642
Corporation tax	1,670	2,659
Other creditors	68,493	72,982
Accruals and deferred income	3,600	-
	79,263	100,283

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

Bank loans	15,000	-
	15,000	-

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HOSPITALITY INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

8.	Related party transactions
	Included in other debtors / (creditors) are funds due from / (to) the following companies owned by Mr I Hashmi. These amounts are interest free and there is no fixed date of repayment:

		2021	2020
		£	£

East End Enterprises Limited	40,854	55,511
West End Ventures Limited	52,400	58,400
Trenmile Limited	75	(4,847)
	-	-
	93,329	109,064

During the year, East End Enterprises Limited paid for services rendered on behalf Hospitality Investments Limited amounting to £Nil (2020 - £3,500). Mr I Hashmi is is a director and shareholder of this company.
Included within other creditors due within one year is a director's loan in respect of Mr I Hashmi amounting to £53,493 (2020 - £64,493). This amount is interest free and there in no fixed date of repayment.

9.	Coronavirus government support

During the period under review, the company has taken advantage of the following government support available as a result of the Coronavirus pandemic:
- Bounce back loan - This was secured during the year and is included within creditors. This loan started to be repaid following the year end.

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