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Registration number: 10671279

SAFL British Hotels Limited

Annual Report and Unaudited Financial Statements

for the Period from 15 March 2017 to 31 March 2018

Tahas & Co Ltd
Suite 3, Second Floor
760 Eastern Avenue
Newbury Park
London
IG2 7HU

 

SAFL British Hotels Limited

Contents

Company Information

1

Accountants' Report

2

Statement of Comprehensive Income

3

Balance Sheet

4

Statement of Changes in Equity

5

Notes to the Financial Statements

6 to 9

 

SAFL British Hotels Limited

Company Information

Director

Mr Chidambaram Arumugam

Registered office

Belstead Brook Muthu Hotel
Belstead
Ipswich
IP2 9HB

Accountants

Tahas & Co Ltd
Suite 3, Second Floor
760 Eastern Avenue
Newbury Park
London
IG2 7HU

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
SAFL British Hotels Limited
for the Period Ended 31 March 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SAFL British Hotels Limited for the period ended 31 March 2018 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.

This report is made solely to the Board of Directors of SAFL British Hotels Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of SAFL British Hotels Limited and state those matters that we have agreed to state to the Board of Directors of SAFL British Hotels Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SAFL British Hotels Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that SAFL British Hotels Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of SAFL British Hotels Limited. You consider that SAFL British Hotels Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of SAFL British Hotels Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

Tahas & Co Ltd
Suite 3, Second Floor
760 Eastern Avenue
Newbury Park
London
IG2 7HU

26 September 2018

 

SAFL British Hotels Limited

Statement of Comprehensive Income for the Period from 15 March 2017 to 31 March 2018

Note

2018
£

Loss for the period

 

(4,214)

Total comprehensive income for the period

 

(4,214)

 

SAFL British Hotels Limited

(Registration number: 10671279)
Balance Sheet as at 31 March 2018

Note

2018
£

Fixed assets

 

Investments

3

4

Current assets

 

Debtors

4

1,984,026

Cash at bank and in hand

 

8,012,757

 

9,996,783

Creditors: Amounts falling due within one year

5

(1,001)

Net current assets

 

9,995,782

Net assets

 

9,995,786

Capital and reserves

 

Called up share capital

10,000,000

Profit and loss account

(4,214)

Total equity

 

9,995,786

For the financial period ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 26 September 2018
 

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

Mr Chidambaram Arumugam

Director

 

SAFL British Hotels Limited

Statement of Changes in Equity for the Period from 15 March 2017 to 31 March 2018

Share capital
£

Profit and loss account
£

Total
£

Loss for the period

-

(4,214)

(4,214)

Total comprehensive income

-

(4,214)

(4,214)

New share capital subscribed

10,000,000

-

10,000,000

At 31 March 2018

10,000,000

(4,214)

9,995,786

 

SAFL British Hotels Limited

Notes to the Financial Statements for the Period from 15 March 2017 to 31 March 2018

1

General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Belstead Brook Muthu Hotel
Belstead
Ipswich
IP2 9HB
United Kingdom

These financial statements were authorised for issue by the director on 26 September 2018.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

SAFL British Hotels Limited

Notes to the Financial Statements for the Period from 15 March 2017 to 31 March 2018

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Investments

2018
£

Investments in subsidiaries

4

Subsidiaries

£

Cost or valuation

Additions

4

Provision

Carrying amount

At 31 March 2018

4

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

SAFL British Hotels Limited

Notes to the Financial Statements for the Period from 15 March 2017 to 31 March 2018

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2018

Subsidiary undertakings

Oban Queens Hotel Limited

Belstead Brook Muthu Hotel
Belstead Road
Ipswich
IP2 9HB

Ordinary

100%

 

England

     

Oban Queens Management Limited

Belstead Brook Muthu Hotel
Belstead Road
Ipswich
IP2 9HB

Ordinary

100%

 

England

     

Fort West End Asset Ltd

Belstead Brook Muthu Hotel
Belstead Road
Ipswich
IP2 9HB

Ordinary

100%

 

England

     

Fort West End Hotel Management Company Ltd

Belstead Brook Muthu Hotel
Belstead Road
Ipswich
IP2 9HB

Ordinary

100%

 

England

     

The principal activity of Oban Queens Hotel Limited is hotel investment

The principal activity of Oban Queens Management Limited is hotel management

The principal activity of Fort West End Asset Ltd is hotel investment

The principal activity of Fort West End Hotel Management Company Ltd is hotel management

4

Debtors

Note

2018
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

6

1,984,026

Total current trade and other debtors

 

1,984,026

5

Creditors

 

SAFL British Hotels Limited

Notes to the Financial Statements for the Period from 15 March 2017 to 31 March 2018

Note

2018
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

6

2

Other creditors

 

999

 

1,001

6

Related party transactions

Summary of transactions with subsidiaries

At 31st March 2018 the company was owed £1,984,026 by its subsidiary company Oban Queens Hotel Ltd.

At 31st March 2018 the company owed £1 to its subsidiary company Fort West End Asset Ltd.

At 31st March 2018 the company owed £1 to its subsidiary company Fort West End Hotel Management Company Ltd.