Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30truefalseNo description of principal activitytrue2022-07-011822The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09556253 2022-07-01 2023-06-30 09556253 2021-07-01 2022-06-30 09556253 2023-06-30 09556253 2022-06-30 09556253 2021-07-01 09556253 1 2022-07-01 2023-06-30 09556253 5 2022-07-01 2023-06-30 09556253 5 2021-07-01 2022-06-30 09556253 6 2022-07-01 2023-06-30 09556253 d:Director1 2022-07-01 2023-06-30 09556253 d:Director2 2022-07-01 2023-06-30 09556253 d:Director3 2022-07-01 2023-06-30 09556253 d:Director4 2022-07-01 2023-06-30 09556253 d:Director5 2022-07-01 2023-06-30 09556253 d:Director6 2022-07-01 2023-06-30 09556253 d:RegisteredOffice 2022-07-01 2023-06-30 09556253 e:Buildings 2022-07-01 2023-06-30 09556253 e:Buildings 2023-06-30 09556253 e:Buildings 2022-06-30 09556253 e:Buildings e:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 09556253 e:LandBuildings 2023-06-30 09556253 e:LandBuildings 2022-06-30 09556253 e:FurnitureFittings 2022-07-01 2023-06-30 09556253 e:FurnitureFittings 2023-06-30 09556253 e:FurnitureFittings 2022-06-30 09556253 e:FurnitureFittings e:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 09556253 e:OfficeEquipment 2022-07-01 2023-06-30 09556253 e:OfficeEquipment 2023-06-30 09556253 e:OfficeEquipment 2022-06-30 09556253 e:OfficeEquipment e:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 09556253 e:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 09556253 e:CurrentFinancialInstruments 2023-06-30 09556253 e:CurrentFinancialInstruments 2022-06-30 09556253 e:CurrentFinancialInstruments e:WithinOneYear 2023-06-30 09556253 e:CurrentFinancialInstruments e:WithinOneYear 2022-06-30 09556253 e:ShareCapital 2023-06-30 09556253 e:ShareCapital 2022-06-30 09556253 e:ShareCapital 2021-07-01 09556253 e:RevaluationReserve 2022-07-01 2023-06-30 09556253 e:RevaluationReserve 2023-06-30 09556253 e:RevaluationReserve 1 2022-07-01 2023-06-30 09556253 e:RevaluationReserve 5 2022-07-01 2023-06-30 09556253 e:RevaluationReserve 6 2022-07-01 2023-06-30 09556253 e:RevaluationReserve 2022-06-30 09556253 e:RevaluationReserve 2021-07-01 09556253 e:RevaluationReserve 5 2021-07-01 2022-06-30 09556253 e:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 09556253 e:RetainedEarningsAccumulatedLosses 2023-06-30 09556253 e:RetainedEarningsAccumulatedLosses 1 2022-07-01 2023-06-30 09556253 e:RetainedEarningsAccumulatedLosses 2021-07-01 2022-06-30 09556253 e:RetainedEarningsAccumulatedLosses 2022-06-30 09556253 e:RetainedEarningsAccumulatedLosses 2021-07-01 09556253 d:OrdinaryShareClass1 2022-07-01 2023-06-30 09556253 d:OrdinaryShareClass1 2023-06-30 09556253 d:OrdinaryShareClass1 2022-06-30 09556253 d:FRS102 2022-07-01 2023-06-30 09556253 d:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 09556253 d:FullAccounts 2022-07-01 2023-06-30 09556253 d:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 09556253 5 2022-07-01 2023-06-30 09556253 6 2022-07-01 2023-06-30 09556253 f:PoundSterling 2022-07-01 2023-06-30 iso4217:GBP xbrli:shares xbrli:pure


Registered number: 09556253












SBH PLYMOUTH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

 

SBH PLYMOUTH LIMITED

CONTENTS



Page
Company information
 
1
Balance sheet
 
2 - 3
Statement of changes in equity
 
4
Notes to the financial statements
 
5 - 11


 

SBH PLYMOUTH LIMITED
 
COMPANY INFORMATION


Directors
P A Callingham 
N Schreiber 
R Niederman 
J Schreiber 
M Schreiber 
M Schreiber 




Registered number
09556253



Registered office
C/O Starboard Hotels Limited
Park House

10 Penn Road

Beaconsfield

Buckinghamshire

HP9 2LH




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:09556253
SBH PLYMOUTH LIMITED

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,850,000
1,739,714

  
1,850,000
1,739,714

Current assets
  

Stocks
  
3,084
3,319

Debtors: amounts falling due within one year
 5 
86,862
88,492

Cash at bank and in hand
  
21,804
21,060

  
111,750
112,871

Creditors: amounts falling due within one year
 6 
(1,649,319)
(1,748,801)

Net current liabilities
  
 
 
(1,537,569)
 
 
(1,635,930)

Total assets less current liabilities
  
312,431
103,784

Provisions for liabilities
  

Deferred tax
  
(148,023)
(139,187)

  
 
 
(148,023)
 
 
(139,187)

Net assets/(liabilities)
  
164,408
(35,403)


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Revaluation reserve
  
541,016
370,846

Profit and loss account
  
(386,608)
(416,249)

Total equity/(deficit)
  
164,408
(35,403)


Page 2


 
REGISTERED NUMBER:09556253
SBH PLYMOUTH LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

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 the 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 by: 




P A Callingham
Director

Date: 18 January 2024

The notes on pages 5 to 11 form part of these financial statements.

Page 3

 

SBH PLYMOUTH LIMITED

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 July 2021
10,000
367,555
67,756
445,311


Comprehensive income for the year

Loss for the year
-
-
(484,005)
(484,005)

Deferred tax movement
-
3,291
-
3,291



At 30 June 2022 and 1 July 2022
10,000
370,846
(416,249)
(35,403)


Comprehensive income for the year

Profit for the year
-
-
170,621
170,621

Transfer to/from profit and loss account
-
-
(140,980)
(140,980)

Surplus on revaluation of freehold property
-
38,026
-
38,026

Deferred tax movement
-
(8,836)
-
(8,836)

Transfer to/from profit and loss account
-
140,980
-
140,980


At 30 June 2023
10,000
541,016
(386,608)
164,408


The notes on pages 5 to 11 form part of these financial statements.

Page 4

 

SBH PLYMOUTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

SBH Plymouth Limited is a private company limited by shares incorporated in England. The address of its principal place of business is Marsh Mills, Longbridge Road, Forder Valley, Plymouth, PL6 8LR. 
The financial statements are presented in Sterling (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

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 and goods
Revenue from hotel ownership comprises amounts earned in respect of services, facilities and goods supplied by the hotel. Revenue from the rendering of services (such as the accommodation and use of facilities) is recognised when services are performed. Revenue from the sale of goods (such as food and beverage sales) is recognised at the time when the goods are delivered to customers.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
Fixtures and fittings
-
14%
Office equipment
-
14%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 

SBH PLYMOUTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.5

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

  
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value.

 
2.7

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
The company’s policies for its major classes of financial assets and financial liabilities are set out below.
Basic financial assets
Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the
Page 6

 

SBH PLYMOUTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)

asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Financial liabilities
Basic financial liabilities, including trade and other creditors and bank loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

  
2.8

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

  
2.9

Share capital

Ordinary shares are classified as equity. 

  
2.10

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the profit and loss account in the same period as the related expenditure.

Page 7

 

SBH PLYMOUTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

  
2.11

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

 
2.12

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is
determined using tax rates and laws that have been enacted or substantively enacted by the balance
sheet date.

  
2.14

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.


3.


Employees

The average monthly number of employees, including directors, during the year was 22 (2022 - 18).

Page 8

 

SBH PLYMOUTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Tangible fixed assets





Freehold property
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 July 2022
1,754,068
87,410
11,247
1,852,725


Additions
-
23,462
-
23,462


Revaluations
38,026
-
-
38,026



At 30 June 2023

1,792,094
110,872
11,247
1,914,213



Depreciation


At 1 July 2022
64,022
43,597
5,392
113,011


Charge for the year on owned assets
69,849
13,649
1,575
85,073


Impairment losses written back
(133,871)
-
-
(133,871)



At 30 June 2023

-
57,246
6,967
64,213



Net book value



At 30 June 2023
1,792,094
53,626
4,280
1,850,000



At 30 June 2022
1,690,046
43,813
5,855
1,739,714

The directors have obtained a valuation as at 17 February 2023, undertaken by Savills (UK) Limited which shows a valuation on an open market basis of £1,850,000 for the freehold property (including other fixed assets) based on the prevailing market conditions.




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
1,792,094
1,690,046

1,792,094
1,690,046


Page 9

 

SBH PLYMOUTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
Cost or valuation at 30 June 2023 is as follows:

Land and buildings
£


At cost
1,263,513
At valuation:

Revaluations
528,581



1,792,094

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2023
2022
£
£



Cost
1,263,513
1,263,513

Accumulated depreciation
(141,254)
(115,984)

Net book value
1,122,259
1,147,529


5.


Debtors

2023
2022
£
£


Trade debtors
4,130
4,711

Other debtors
18,488
-

Called up share capital not paid
10,000
10,000

Prepayments and accrued income
54,244
73,781

86,862
88,492



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
14,099
49,746

Corporation tax
1,038
-

Other taxation and social security
39,270
70,602

Other creditors
1,517,839
1,560,939

Accruals and deferred income
77,073
67,514

1,649,319
1,748,801


Page 10

 

SBH PLYMOUTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,000 (2022 - 10,000) Ordinary shares of £1.00 each
10,000
10,000



8.


Contingent liabilities

A fixed charge was in place over the company's assets as part of a cross guarantee against bank loans totalling £52,740,000 (2022: £18,524,506) at the balance sheet date. The loans are owned by companies in which the directors P A Callingham has an interest.

 
Page 11