Hotel Elephant Limited 30/11/2017 iXBRL

HOTEL ELEPHANT SPARE STREET LTD - Company Information

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Statement of consent to prepare abridged financial statements

All of the members of Hotel Elephant Limited have consented to the preparation of the abridged statement of financial position for the current year ending 30 November 2017 in accordance with Section 444(2A) of the Companies Act 2006.

Company registration number: 7082299

Hotel Elephant Limited

Trading as Hotel Elephant Limited

Unaudited filleted abridged financial statements

30 November 2017

Hotel Elephant Limited

Contents

Directors and other information

Abridged statement of financial position

Statement of changes in equity

Notes to the financial statements

Hotel Elephant Limited

Directors and other information


	Directors	Reuben Powell
		Timothy Kalvis
		Emily Woodhouse


	Company number	7082299


	Registered office	2 Beverley Court
		26 Elmtree Road
		Teddington
		Middlesex
		TW11 8ST

Hotel Elephant Limited

Abridged statement of financial position

30 November 2017

		2017		2016
	Note	£	£	£	£

Fixed assets
Tangible assets	4	2,792		4,326
		_______		_______
			2,792		4,326

Current assets
Debtors		20,188		18,173
		_______		_______
		20,188		18,173
Creditors: amounts falling due
within one year		( 93,083)		( 67,807)
		_______		_______
Net current liabilities			( 72,895)		( 49,634)
			_______		_______
Total assets less current liabilities			( 70,103)		( 45,308)

			_______		_______
Net liabilities			( 70,103)		( 45,308)
			_______		_______

Capital and reserves
Profit and loss account			( 70,103)		( 45,308)
			_______		_______
Shareholders deficit			( 70,103)		( 45,308)
			_______		_______

For the year ending 30 November 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small 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 and delivered 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'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 15 June 2018 , and are signed on behalf of the board by:

Reuben Powell

Director

Company registration number: 7082299

Hotel Elephant Limited

Statement of changes in equity

Year ended 30 November 2017

	Profit and loss account	Total
	£	£


At 1 December 2015	22,135	22,135

Loss for the year	( 67,443)	( 67,443)
	_______	_______
Total comprehensive income for the year	( 67,443)	( 67,443)

	_______	_______
At 30 November 2016 and 1 December 2016	( 45,308)	( 45,308)

Loss for the year	( 24,795)	( 24,795)
	_______	_______
Total comprehensive income for the year	( 24,795)	( 24,795)

	_______	_______
At 30 November 2017	( 70,103)	( 70,103)
	_______	_______

Hotel Elephant Limited

Notes to the financial statements

Year ended 30 November 2017

1. General information

The company is a private company limited by shares, registered in UK. The address of the registered office is 2 Beverley Court, 26 Elmtree Road, Teddington, Middlesex, TW11 8ST.

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 December 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note .

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

4. Tangible assets


		£
	Cost
	At 1 December 2016 and 30 November 2017	6,135
		_______
	Depreciation
	At 1 December 2016	1,809
	Charge for the year	1,534
		_______
	At 30 November 2017	3,343
		_______
	Carrying amount
	At 30 November 2017	2,792
		_______
	At 30 November 2016	4,326
		_______

5. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2017
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Reuben Powell	( 61,635)	( 4,887)	( 66,522)
		_______	_______	_______

2016
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Reuben Powell	-	( 61,635)	( 61,635)
		_______	_______	_______

6. Related party transactions

The company has taken advantage of the exemption available in FRS 8 "Related party disclosures" whereby it has not disclosed transactions with any wholly owned subsidiary undertaking of the group.

7. Deferred Tax

There is no provision for deferred tax because the timing deferrences are less than the available losses.