Selina Ventures Holding Ltd. 12144828 true 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of a holding company. Digita Accounts Production Advanced 6.30.9574.0 true Gary Richard Murray false 12144828 2023-01-01 2023-12-31 12144828 2023-12-31 12144828 bus:OrdinaryShareClass1 2023-12-31 12144828 core:RetainedEarningsAccumulatedLosses 2023-12-31 12144828 core:ShareCapital 2023-12-31 12144828 core:CurrentFinancialInstruments 2023-12-31 12144828 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 12144828 core:Warranties 2023-12-31 12144828 bus:FRS102 2023-01-01 2023-12-31 12144828 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12144828 bus:FullAccounts 2023-01-01 2023-12-31 12144828 bus:RegisteredOffice 2023-01-01 2023-12-31 12144828 bus:Director4 2023-01-01 2023-12-31 12144828 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 12144828 bus:EntityNoLongerTradingButTradedInPast 2023-01-01 2023-12-31 12144828 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12144828 1 2023-01-01 2023-12-31 12144828 countries:EnglandWales 2023-01-01 2023-12-31 12144828 2022-12-31 12144828 core:CostValuation 2022-12-31 12144828 core:Warranties 2022-12-31 12144828 2022-12-31 12144828 bus:OrdinaryShareClass1 2022-12-31 12144828 core:RetainedEarningsAccumulatedLosses 2022-12-31 12144828 core:ShareCapital 2022-12-31 12144828 core:CurrentFinancialInstruments 2022-12-31 12144828 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12144828

Selina Ventures Holding Ltd.

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Selina Ventures Holding Ltd.

Profit and Loss Account for the Year Ended 31 December 2023

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

 

Selina Ventures Holding Ltd.

(Registration number: 12144828)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

3

2,272,163

2,272,163

Current assets

 

Debtors

4

389,720

389,720

Creditors: Amounts falling due within one year

5

(1,672,954)

(1,672,954)

Net current liabilities

 

(1,283,234)

(1,283,234)

Total assets less current liabilities

 

988,929

988,929

Provisions for liabilities

6

(1,004,709)

(1,004,709)

Net liabilities

 

(15,780)

(15,780)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(15,781)

(15,781)

Shareholders' deficit

 

(15,780)

(15,780)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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 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 director on 31 January 2025
 

.........................................
Gary Richard Murray
Director

   
     
 

Selina Ventures Holding 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:
102 Fulham Palace Road
London
W6 9PL

These financial statements were authorised for issue by the director on 31 January 2025.

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.

Summary of disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”:
- the requirements of Section 7 Statement of Cash Flows;
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
- the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45,11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

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.

 

Selina Ventures Holding Ltd.

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

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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

 

Selina Ventures Holding Ltd.

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

Financial instruments

Classification
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measures, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangement of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
• At fair value with changes recognised in the Profit and loss account if the shares are publicly traded or their fair value can otherwise be measured reliably;
• At cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

3

Investments

2023
£

2022
£

Investments in associates

2,272,163

2,272,163

 

Selina Ventures Holding Ltd.

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

Associates

£

Cost

At 1 January 2023

2,272,163

Provision

Carrying amount

At 31 December 2023

2,272,163

At 31 December 2022

2,272,163

4

Debtors

Current

2023
£

2022
£

Other debtors

389,720

389,720

 

389,720

389,720

5

Creditors

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

3,373

3,373

Amounts due to related parties

11,768

11,768

Other payables

 

1,656,613

1,656,613

Accruals

 

1,200

1,200

 

1,672,954

1,672,954

6

Provisions for liabilities

Warranties
£

Total
£

At 1 January 2023

1,004,709

1,004,709

At 31 December 2023

1,004,709

1,004,709

 

Selina Ventures Holding Ltd.

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

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Share Capital of £0.01 each

100

1

100

1

         

8

Parent and ultimate parent undertaking

The ultimate parent is Selina Hospitality PLC, incorporated in United Kingdom.