Registered number
06741647
SARAM HOTELS LTD
Filleted Accounts
30 November 2023
SARAM HOTELS LTD
Registered number: 06741647
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 65,137 69,675
65,138 69,676
Current assets
Stocks 1,514 3,399
Debtors 5 70,191 69,899
Cash at bank and in hand 159,624 73,373
231,329 146,671
Creditors: amounts falling due within one year 6 (251,377) (239,222)
Net current liabilities (20,048) (92,551)
Total assets less current liabilities 45,090 (22,875)
Creditors: amounts falling due after more than one year 7 (27,729) (36,629)
Net assets/(liabilities) 17,361 (59,504)
Capital and reserves
Called up share capital 1 1
Profit and loss account 17,360 (59,505)
Shareholder's funds 17,361 (59,504)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sundeep Kumar Sanger
Director
Approved by the board on 6 August 2024
SARAM HOTELS LTD
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery @20% Reducing Balance.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 1
At 30 November 2023 1
Amortisation
At 30 November 2023 -
Net book value
At 30 November 2023 1
At 30 November 2022 1
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2022 36,017 130,179 166,196
Additions - 2,564 2,564
At 30 November 2023 36,017 132,743 168,760
Depreciation
At 1 December 2022 - 96,521 96,521
Charge for the year - 7,102 7,102
At 30 November 2023 - 103,623 103,623
Net book value
At 30 November 2023 36,017 29,120 65,137
At 30 November 2022 36,017 33,658 69,675
5 Debtors 2023 2022
£ £
Trade debtors 2,212 -
Amounts owed by group undertakings and undertakings in which the company has a participating interest 64,806 66,726
Other debtors 3,173 3,173
70,191 69,899
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 4,908 -
Trade creditors 11,351 11,396
Amounts owed to group undertakings and undertakings in which the company has a participating interest 99,636 99,494
Taxation and social security costs 18,177 12,941
Other creditors 117,305 115,391
251,377 239,222
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 27,729 36,629
8 Related party transactions
Inter-company loan between the companies under common control.
9 Controlling party
The director have overall control of the company by virtue of majority shareholding.
10 Other information
SARAM HOTELS LTD is a private company limited by shares and incorporated in England. Its registered office is:
24 Freda Road
West Bromwich
West Midlands
B70 6EG
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