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Registration number: 10959015

Oban Queens Hotel limited

Annual Report and Unaudited Financial Statements

for the Period from 12 September 2017 to 31 March 2018

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

 

Oban Queens Hotel 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 7

 

Oban Queens Hotel limited

Company Information

Directors

Mr Chidambaram Arumugam

Mr Ravi Venkatraman

Ms Monicca Nivetha Maran

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 Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Oban Queens Hotel 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 Oban Queens Hotel limited for the period ended 31 March 2018 as set out on pages 3 to 7 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 Oban Queens Hotel 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 Oban Queens Hotel limited and state those matters that we have agreed to state to the Board of Directors of Oban Queens Hotel 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 Oban Queens Hotel limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Oban Queens Hotel 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 profit of Oban Queens Hotel limited. You consider that Oban Queens Hotel 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 Oban Queens Hotel 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

 

Oban Queens Hotel limited

Statement of Comprehensive Income for the Period from 12 September 2017 to 31 March 2018

Note

2018
£

Profit for the period

 

34,000

Total comprehensive income for the period

 

34,000

 

Oban Queens Hotel limited

(Registration number: 10959015)
Balance Sheet as at 31 March 2018

Note

2018
£

Fixed assets

 

Investment property

3

1,468,284

Current assets

 

Debtors

4

550,743

Creditors: Amounts falling due within one year

5

(1,000)

Net current assets

 

549,743

Total assets less current liabilities

 

2,018,027

Creditors: Amounts falling due after more than one year

5

(1,984,026)

Net assets

 

34,001

Capital and reserves

 

Called up share capital

1

Profit and loss account

34,000

Total equity

 

34,001

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.

Directors' 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 directors acknowledge their 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 Board on 26 September 2018 and signed on its behalf by:
 

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

Mr Chidambaram Arumugam

Director

 

Oban Queens Hotel limited

Statement of Changes in Equity for the Period from 12 September 2017 to 31 March 2018

Share capital
£

Profit and loss account
£

Total
£

Profit for the period

-

34,000

34,000

Total comprehensive income

-

34,000

34,000

New share capital subscribed

1

-

1

At 31 March 2018

1

34,000

34,001

 

Oban Queens Hotel limited

Notes to the Financial Statements for the Period from 12 September 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 Board 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

 

Oban Queens Hotel limited

Notes to the Financial Statements for the Period from 12 September 2017 to 31 March 2018

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

Investment properties

2018
£

Additions

1,468,284

The freehold property was valued on an open market basis on 31st March 2018 by the directors.The
directors are of the opinion that there have not been any significant change in valuation since its acquisition
during the year.

There has been no valuation of investment property by an independent valuer.

4

Debtors

Note

2018
£

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

6

550,743

Total current trade and other debtors

 

550,743

5

Creditors

Note

2018
£

Due within one year

 

Other creditors

 

1,000

Due after one year

 

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

6

1,984,026

6

Related party transactions

Summary of transactions with parent

At 31st March 2018 the company owed £1,984,026 to SAFL British Hotels Limited, its immediate parent company.
 

Summary of transactions with associates

At 31st March 2018 the company was owed £550,743 by Oban Queens Management Limited, an associate company under common control.