Company No:
Contents
DIRECTORS | Karl-Mikael Andren (Resigned 06 September 2023) |
Anthony Ivor Brittan | |
Clive Britton | |
Paul Chares Ehrenreich | |
Andre Pottas | |
Mark Saunders (Appointed 06 September 2023) |
REGISTERED OFFICE | 1st Floor 38/39 Hampstead High Street |
London | |
NW3 1QE | |
United Kingdom |
COMPANY NUMBER | 05958539 (England and Wales) |
Note | 2023 | 2022 | ||
$ | $ | |||
Fixed assets | ||||
Investments | 3 |
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200,000 | 200,000 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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1,371,281 | 1,059,227 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current assets | 1,091,595 | 662,705 | ||
Total assets less current liabilities | 1,291,595 | 862,705 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Singita International Limited (registered number:
Clive Britton
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Singita International Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1st Floor 38/39 Hampstead High Street, London, NW3 1QE, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in USD which is the functional currency of the Company and rounded to the nearest $.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Financial assets and financial liabilities are recognised when the Company becomes a 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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Investments held in subsidiaries are recognised at cost less impairment.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Investments in subsidiaries
2023 | |
$ | |
Cost | |
At 01 January 2023 |
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At 31 December 2023 |
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Carrying value at 31 December 2023 |
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Carrying value at 31 December 2022 |
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2023 | 2022 | ||
$ | $ | ||
Amounts owed by Group undertakings (note 6) |
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Amounts owed by related parties (note 6) |
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2023 | 2022 | ||
$ | $ | ||
Trade creditors |
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Taxation and social security |
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The company has taken advantage of exemption under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Parent Company:
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The Company's immediate parent undertaking is Singita Holdings International Limited, a company registered by continuation, in the Republic of Mauritius. The registered office of the parent is TMF Mauritius, 3rd Floor, Standard Chartered Tower, 19 Cybercity, Ebene, Republic of Mauritius |