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Registration number: 10492165

Reading West Aparthotel Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Reading West Aparthotel Limited

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Reading West Aparthotel Limited

Company Information

Director

P Patel

Registered office

79 Park Lane
Croydon
Surrey
CR0 1JG

Accountants

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Reading West Aparthotel Limited
for the Year Ended 30 September 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Reading West Aparthotel Limited for the year ended 30 September 2023 as set out on pages 3 to 10 from the company'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 at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Reading West Aparthotel 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 Reading West Aparthotel Limited and state those matters that we have agreed to state to the Board of Directors of Reading West Aparthotel Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Reading West Aparthotel Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Reading West Aparthotel 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 Reading West Aparthotel Limited. You consider that Reading West Aparthotel Limited 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 accounts of Reading West Aparthotel 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.

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

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

19 March 2024

 

Reading West Aparthotel Limited

(Registration number: 10492165)
Statement of Financial Position as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

5

1,581,344

1,595,108

Investments

6

1

1

 

1,581,345

1,595,109

Current assets

 

Debtors

7

444,723

437,420

Cash at bank and in hand

 

65,520

27,127

 

510,243

464,547

Creditors: Amounts falling due within one year

8

(98,646)

(188,902)

Net current assets

 

411,597

275,645

Total assets less current liabilities

 

1,992,942

1,870,754

Creditors: Amounts falling due after more than one year

8

(1,440,000)

(1,750,000)

Net assets

 

552,942

120,754

Capital and reserves

 

Called up share capital

9

2,000

1,000

Share premium reserve

778,000

349,000

Retained earnings

(227,058)

(229,246)

Shareholders' funds

 

552,942

120,754

 

Reading West Aparthotel Limited

(Registration number: 10492165)
Statement of Financial Position as at 30 September 2023 (continued)

For the financial year ending 30 September 2023 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 year 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.

Approved and authorised by the director on 19 March 2024
 

P Patel
Director

   
     
 

Reading West Aparthotel Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

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:
79 Park Lane
Croydon
Surrey
CR0 1JG
England

The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Reading West Aparthotel Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

25%@SLM

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.

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.

 

Reading West Aparthotel Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

2

Accounting policies (continued)

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

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Reading West Aparthotel Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 October 2022

50,000

50,000

At 30 September 2023

50,000

50,000

Depreciation

At 1 October 2022

50,000

50,000

At 30 September 2023

50,000

50,000

Carrying amount

At 30 September 2023

-

-

5

Investment properties

2023
£

At 1 October

1,595,108

Additions

38,976

Disposals

(52,740)

At 30 September

1,581,344

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

 

Reading West Aparthotel Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

6

Investments

2023
£

2022
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost or valuation

At 1 October 2022

1

Provision

Carrying amount

At 30 September 2023

1

At 30 September 2022

1

7

Debtors

Current

2023
£

2022
£

Trade debtors

1,068

168

Prepayments

3,023

6,650

Other debtors

440,632

430,602

 

444,723

437,420

 

Reading West Aparthotel Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

97,059

165,645

Taxation and social security

-

9,621

Accruals and deferred income

950

12,680

Other creditors

637

956

98,646

188,902

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Other non-current financial liabilities

1,440,000

1,750,000

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A Shares of £1 each

1,200

1,200

200

200

Ordinary B Shares of £1 each

800

800

800

800

 

2,000

2,000

1,000

1,000

During the year, the company issued 1,000 Ordinary "A" shares for £430 each.