ACCOUNTS - Final Accounts preparation

STAYWELL HOSPITALITY (SHOREDITCH) LTD - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-12-312017-12-31The 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 non-puttable ordinary shares.No description of principal activityfalse2017-01-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrue 09338170 2017-01-01 2017-12-31 09338170 2017-12-31 09338170 2016-12-31 09338170 c:Director1 2017-01-01 2017-12-31 09338170 d:CurrentFinancialInstruments 2017-12-31 09338170 d:CurrentFinancialInstruments 2016-12-31 09338170 d:CurrentFinancialInstruments d:WithinOneYear 2017-12-31 09338170 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 09338170 d:ShareCapital 2017-12-31 09338170 d:ShareCapital 2016-12-31 09338170 d:RetainedEarningsAccumulatedLosses 2017-12-31 09338170 d:RetainedEarningsAccumulatedLosses 2016-12-31 09338170 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2016-12-31 09338170 c:FRS102 2017-01-01 2017-12-31 09338170 c:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 09338170 c:FullAccounts 2017-01-01 2017-12-31 09338170 c:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 iso4217:GBP

Registered number: 09338170

STAYWELL HOSPITALITY (SHOREDITCH) LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

STAYWELL HOSPITALITY (SHOREDITCH) LTD

REGISTERED NUMBER: 09338170

BALANCE SHEET

AS AT 31 DECEMBER 2017

		2017		2016
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	81,492		77,470
Cash at bank and in hand	5	-		1
		81,492		77,471
Creditors: amounts falling due within one year	6	(41,905)		(79,012)
Net current assets/(liabilities)			39,587		(1,541)
Total assets less current liabilities			39,587		(1,541)

Net assets/(liabilities)			39,587		(1,541)

Capital and reserves
Called up share capital	1	1
Profit and loss account	39,586	(1,542)
	39,587	(1,541)

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 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 profit and loss account 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 28 September 2018.

....................................

Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

STAYWELL HOSPITALITY (SHOREDITCH) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

1.	General information

Staywell Hospitality (Shoreditch) Ltd 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.

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

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.

2.4

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.

2.5

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.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of

Page 2

STAYWELL HOSPITALITY (SHOREDITCH) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

2.6

Financial instruments (continued)

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 non-puttable ordinary shares.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Employees

	The Company has no employees other than the directors, who did not receive any remuneration (2016 - £NIL).
	The average monthly number of employees, including directors, during the year was 0 (2016 - 0).

Debtors

					2017	2016
					£	£


Trade debtors	48,240	23,107
Other debtors	33,252	54,363
	81,492	77,470

5.	Cash and cash equivalents
		2017	2016
		£	£

Cash at bank and in hand	-	1
	-	1

6.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Trade creditors	30,000	840
Other taxation and social security	11,005	9,920
Other creditors	-	67,502
Accruals and deferred income	900	750
	41,905	79,012

Page 3

STAYWELL HOSPITALITY (SHOREDITCH) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

7.	Financial instruments
		2017	2016
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	-	1

	Financial assets measured at fair value through profit or loss comprise cash and bank balances
	Derivative financial instruments measured at fair value through profit or loss held as part of a trading portfolio

Page 4