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Registration number: 11726025

Superior Stays Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Superior Stays Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Superior Stays Ltd

Company Information

Directors

Mr James Alexander Addams Williams

Miss Lynsey Evans

Company secretary

Mr James Alexander Addams Williams

Registered office

International House
24 Holborn Viaduct
London
EC1A 2BN

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Superior Stays Ltd

(Registration number: 11726025)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

13,492

21,013

Current assets

 

Debtors

6

46,564

71,959

Cash at bank and in hand

 

4,215

73,571

 

50,779

145,530

Creditors: Amounts falling due within one year

7

(27,802)

(42,288)

Net current assets

 

22,977

103,242

Total assets less current liabilities

 

36,469

124,255

Creditors: Amounts falling due after more than one year

7

(36,259)

(34,813)

Net assets

 

210

89,442

Capital and reserves

 

Called up share capital

1

1

Retained earnings

209

89,441

Shareholders' funds

 

210

89,442

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 Board on 12 September 2024 and signed on its behalf by:
 

 

Superior Stays Ltd

(Registration number: 11726025)
Balance Sheet as at 31 December 2023 (continued)

.........................................
Mr James Alexander Addams Williams
Company secretary and director

.........................................
Miss Lynsey Evans
Director

 

Superior Stays Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
International House
24 Holborn Viaduct
London
EC1A 2BN

These financial statements were authorised for issue by the Board on 12 September 2024.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet 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:

 

Superior Stays Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Asset class

Depreciation method and rate

Furniture and Fittings

25% Straight Line

Office equipment

25% Straight Line

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

8,297

29,587

 

Superior Stays Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

118,350

118,350

Additions

775

775

At 31 December 2023

119,125

119,125

Depreciation

At 1 January 2023

97,337

97,337

Charge for the year

8,296

8,296

At 31 December 2023

105,633

105,633

Carrying amount

At 31 December 2023

13,492

13,492

At 31 December 2022

21,013

21,013

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

-

(11,042)

Amounts owed by related parties

16,015

54,449

Prepayments

 

11,629

11,771

Other debtors

 

18,920

16,781

   

46,564

71,959

7

Creditors

Creditors: amounts falling due within one year

 

Superior Stays Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

7

Creditors (continued)

2023
£

2022
£

Due within one year

Trade creditors

195

586

Taxation and social security

17,972

36,378

Accruals and deferred income

2,475

5,225

Other creditors

7,160

99

27,802

42,288

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

36,259

34,813

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

24,924

34,813

Other borrowings

11,335

-

36,259

34,813

9

Dividends

2023

2022

£

£

Interim dividend of £1,075.00 (2022 - £31.39) per ordinary share

107,500

3,139