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REGISTERED NUMBER: OC400773 (England and Wales)















REPORT OF THE MEMBERS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

SHIVA HOTELS GROUP LLP

SHIVA HOTELS GROUP LLP (REGISTERED NUMBER: OC400773)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

General Information 1

Report of the Members 2

Chartered Accountants' Report 3

Statement of Comprehensive Income 4

Balance Sheet 5

Reconciliation of Members' Interests 7

Notes to the Financial Statements 9


SHIVA HOTELS GROUP LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DESIGNATED MEMBERS: Mr R R Sachdev
Mrs M H Sachdev





REGISTERED OFFICE: Regent House
Allum Gate
Theobald Street, Elstree
Borehamwood
Hertfordshire
WD6 4RS





REGISTERED NUMBER: OC400773 (England and Wales)





ACCOUNTANTS: STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH

SHIVA HOTELS GROUP LLP (REGISTERED NUMBER: OC400773)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2023


The members present their report with the financial statements of the LLP for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of provision of management services.

DESIGNATED MEMBERS
The designated members during the year under review were:

Mr R R Sachdev
Mrs M H Sachdev

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The loss for the year before members' remuneration and profit shares was £723,475 (2022 - £1,709,526 loss).

MEMBERS' INTERESTS
The LLP is financed through a combination of member's capital and borrowing facilities.

POLITICAL DONATIONS AND EXPENDITURE
Donations made £181,721 during the year.

ON BEHALF OF THE MEMBERS:





Mr R R Sachdev - Designated member


29 March 2024

CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SHIVA HOTELS GROUP LLP



In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Shiva Hotels Group LLP for the year ended 31 March 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Reconciliation of Members' Interests and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Shiva Hotels Group LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Shiva Hotels Group LLP and state those matters that we have agreed to state to the members of Shiva Hotels Group LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Shiva Hotels Group LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Shiva Hotels Group LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Shiva Hotels Group LLP. You consider that Shiva Hotels Group LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Shiva Hotels Group LLP. 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 financial statements.






STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH


29 March 2024

SHIVA HOTELS GROUP LLP (REGISTERED NUMBER: OC400773)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2023

31/3/23 31/3/22
£ £

TURNOVER 3,179,911 3,103,407

Cost of sales 214,267 230,514
GROSS PROFIT 2,965,644 2,872,893

Administrative expenses 3,690,263 4,720,439
(724,619 ) (1,847,546 )

Other operating income - 169,481
OPERATING LOSS (724,619 ) (1,678,065 )

Interest receivable and similar income 26,159 7,431
(698,460 ) (1,670,634 )

Interest payable and similar expenses 25,015 38,892
LOSS FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




(723,475




)




(1,709,526




)


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(723,475

)

(1,709,526

)

SHIVA HOTELS GROUP LLP (REGISTERED NUMBER: OC400773)

BALANCE SHEET
31 MARCH 2023

31/3/23 31/3/22
Notes £ £
CURRENT ASSETS
Debtors 4 5,352,412 6,879,798
Cash at bank 3,319 120,472
5,355,731 7,000,270
CREDITORS
Amounts falling due within one year 5 4,996,270 6,148,675
NET CURRENT ASSETS 359,461 851,595
TOTAL ASSETS LESS CURRENT
LIABILITIES

359,461

851,595

CREDITORS
Amounts falling due after more than one
year

6

24,946

34,837
NET ASSETS ATTRIBUTABLE TO
MEMBERS

334,515

816,758

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 3,500,000 2,000,000
Other reserves (3,165,485 ) (1,183,242 )
334,515 816,758

TOTAL MEMBERS' INTERESTS
Members' other interests 334,515 816,758
Amounts due from members 4 (4,058,687 ) (4,907,340 )
(3,724,172 ) (4,090,582 )

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

SHIVA HOTELS GROUP LLP (REGISTERED NUMBER: OC400773)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 29 March 2024 and were signed by:





Mr R R Sachdev - Designated member

SHIVA HOTELS GROUP LLP (REGISTERED NUMBER: OC400773)

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2023


EQUITY
Members' other interests
Members'
capital
(classified Other
as equity) reserves Total
£ £ £
Balance at 1 April 2022 2,000,000 (3,165,485 ) (1,165,485 )
Loss for the financial year available for
discretionary division among members

-

(723,475

)

(723,475

)
Members' interests after loss for the year 2,000,000 (3,888,960 ) (1,888,960 )
Other divisions of loss - 723,475 723,475
Introduced by members 1,500,000 - 1,500,000
Drawings on account and distributions of profit - - -
Balance at 31 March 2023 3,500,000 (3,165,485 ) 334,515

DEBT TOTAL
Loans and other debts due to MEMBERS'
members less any amounts due INTERESTS
from members in debtors
Other
amounts Total
£ £
Amount due to members -
Amount due from members (2,925,096 )
Balance at 1 April 2022 (2,925,096 ) (4,090,581 )
Loss for the financial year available for
discretionary division among members

-

(723,475

)

Members' interests after loss for the year (2,925,096 ) (4,814,056 )
Other divisions of loss (723,475 ) -
Introduced by members - 1,500,000
Drawings on account and distributions of profit (410,116 ) (410,116 )
Amount due to members -
Amount due from members (4,058,687 )
Balance at 31 March 2023 (4,058,687 ) (3,724,172 )

SHIVA HOTELS GROUP LLP (REGISTERED NUMBER: OC400773)

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2023

EQUITY
Members' other interests
Members'
capital
(classified Other
as equity) reserves Total
£ £ £
Balance at 1 April 2021 2,000,000 (1,183,242 ) 816,758
Loss for the financial year available for
discretionary division among members

-

(1,709,526

)

(1,709,526

)
Members' interests after loss for the year 2,000,000 (2,892,768 ) (892,768 )
Other divisions of loss - 1,709,526 1,709,526
Drawings on account and distributions of profit - - -
Balance at 31 March 2022 2,000,000 (1,183,242 ) 816,758

DEBT TOTAL
Loans and other debts due to MEMBERS'
members less any amounts due INTERESTS
from members in debtors
Other
amounts Total
£ £
Amount due to members -
Amount due from members (2,142,320 )
Balance at 1 April 2021 (2,142,320 ) (1,325,562 )
Loss for the financial year available for
discretionary division among members

-

(1,709,526

)

Members' interests after loss for the year (2,142,320 ) (3,035,088 )
Other divisions of loss (1,709,526 ) -
Drawings on account and distributions of profit (1,055,494 ) (1,055,494 )
Amount due to members -
Amount due from members (4,907,340 )
Balance at 31 March 2022 (4,907,340 ) (4,090,582 )

SHIVA HOTELS GROUP LLP (REGISTERED NUMBER: OC400773)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Shiva Hotels Group LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Fees receivable
Fees receivable are management fees for services net of value added taxes.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Interest receivable and interest payable
Interest income and interest payable are recognised in profit or loss as they accrue, using the effective interest method.

Trade and other debtors / creditors
Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of instrument for a similar debt instrument.

Government grant
Grants received by the government in respect of Covid-19 are recognised in the accounting period in which they are received, under accrual method.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 27 (2022 - 27 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£ £
Trade debtors 203,302 1,529,283
Amounts owed by associates 941,021 274,142
Amounts due from members 4,058,687 4,907,340
Other debtors 149,402 119,033
Prepayment and accrued income - 50,000
5,352,412 6,879,798

SHIVA HOTELS GROUP LLP (REGISTERED NUMBER: OC400773)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£ £
Bank loans and overdrafts 9,890 9,646
Trade creditors 2,454,482 2,492,545
Amounts owed to associates 108 98
Taxation and social security 2,405,810 3,466,442
Other creditors 125,980 179,944
4,996,270 6,148,675

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/23 31/3/22
£ £
Bank loans 24,946 34,837

The partnership received a Coronavirus Business Interruption Loan (CBILS) of £50,000.

7. RELATED PARTY DISCLOSURES

Included in debtors due within one year are the following amounts due from companies in which the partners have a beneficial interest.

2023 2022
£ £

Lincoln Plaza Hotel Co Limited 941,021 274,142
Total 941,021 274,142

Included in creditors due within one year are the following amounts due to companies in which the partners have a beneficial interest.

2023 2022
£ £
Shiva Hotels Ltd 108 98

Total 108 98

The above amounts due to and from connected companies are unsecured and with no specific terms for repayment and the rate of interest charged is 2.5% per annum.

Shiva Hotels Group LLP operates from premises which are owned by Devash Property Investment Limited. Shiva Hotels Group LLP is responsible for the payment of rates.