Registered number
07837040
TULIP HOTELS & REAL ESTATE LTD
Filleted Accounts
30 November 2023
TULIP HOTELS & REAL ESTATE LTD
Registered number: 07837040
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 89,970 79,668
Investments 4 1,275,024 682,017
1,364,994 761,685
Current assets
Debtors 5 58,005 178,005
Cash at bank and in hand 39,249 8,009
97,254 186,014
Creditors: amounts falling due within one year 6 (110,825) (60,437)
Net current (liabilities)/assets (13,571) 125,577
Total assets less current liabilities 1,351,423 887,262
Creditors: amounts falling due after more than one year 7 (1,048,667) (630,855)
Net assets 302,756 256,407
Capital and reserves
Called up share capital 100 100
Profit and loss account 302,656 256,307
Shareholder's funds 302,756 256,407
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.
Siddharth Mahajan
Director
Approved by the board on 19 August 2024
TULIP HOTELS & REAL ESTATE 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.
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:
Fixtures & fittings 20% reducing balance
Office equipment 20% reducing balance
Motor vehicle 20% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 6
3 Tangible fixed assets
Fixtures & fittings office equipment Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 86,115 24,813 55,150 166,078
Additions 22,300 1,488 9,007 32,795
At 30 November 2023 108,415 26,301 64,157 198,873
Depreciation
At 1 December 2022 44,061 15,542 26,807 86,410
Charge for the year 12,871 2,152 7,470 22,493
At 30 November 2023 56,932 17,694 34,277 108,903
Net book value
At 30 November 2023 51,483 8,607 29,880 89,970
At 30 November 2022 42,054 9,271 28,343 79,668
4 Investments
Other
investments
£
Cost
At 1 December 2022 682,017
Additions 593,007
At 30 November 2023 1,275,024
5 Debtors 2023 2022
£ £
Trade debtors 58,005 178,005
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 82,952 38,408
Accruals 27,873 22,029
110,825 60,437
7 Creditors: amounts falling due after one year 2023 2022
£ £
Director loan account 6,088 34,445
Other creditors 1,042,579 596,410
1,048,667 630,855
8 Other information
TULIP HOTELS & REAL ESTATE LTD is a private company limited by shares and incorporated in England. Its registered office is:
Tulip House , Amory Tower
205 Marsh Wall
Canary Wharf
London
E14 9TW
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