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Company Registration No. 12058025 (England and Wales)
Savvy IQ Hospitality Ltd Unaudited accounts for the year ended 30 June 2024
Savvy IQ Hospitality Ltd Unaudited accounts Contents
Page
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Savvy IQ Hospitality Ltd Company Information for the year ended 30 June 2024
Director
P Sarlas
Company Number
12058025 (England and Wales)
Registered Office
C/o Accountancy Managers Ltd 164 New Cavendish Street London W1W 6YT England
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Savvy IQ Hospitality Ltd Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,030 
2,120 
Current assets
Debtors
- 
536 
Cash at bank and in hand
132 
1,832 
132 
2,368 
Creditors: amounts falling due within one year
(161,284)
(148,901)
Net current liabilities
(161,152)
(146,533)
Total assets less current liabilities
(160,122)
(144,413)
Creditors: amounts falling due after more than one year
(20,000)
(20,000)
Net liabilities
(180,122)
(164,413)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(180,124)
(164,415)
Shareholders' funds
(180,122)
(164,413)
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 March 2025 and were signed on its behalf by
P Sarlas Director Company Registration No. 12058025
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Savvy IQ Hospitality Ltd Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Savvy IQ Hospitality Ltd is a private company, limited by shares, registered in England and Wales, registration number 12058025. The registered office is C/o Accountancy Managers Ltd , 164 New Cavendish Street, London , W1W 6YT, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Going concern
These financial statements have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent upon the continued support from its shareholders and other creditors. If the company were unable to trade, adjustments would have to be made to reduce the value of the assets to their recoverable amounts and to provide further liabilities that might arise. The director believes that with support from the shareholders and creditors continued funding will be provided to support the company whilst it moves towards profitability and to enable it to meet its day-to-day commitments from cashflows. As a consequence, the director believes that the company is well placed to manage its business risks successfully. As such, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future of at least 12 months. Accordingly, the director continues to adopt the going concern basis in preparing the annual report and accounts.
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Savvy IQ Hospitality Ltd Notes to the Accounts for the year ended 30 June 2024
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% on costs
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 July 2023
4,360 
At 30 June 2024
4,360 
Depreciation
At 1 July 2023
2,240 
Charge for the year
1,090 
At 30 June 2024
3,330 
Net book value
At 30 June 2024
1,030 
At 30 June 2023
2,120 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
- 
536 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
11,667 
11,667 
Loans from directors
147,817 
134,814 
Accruals
1,800 
2,420 
161,284 
148,901 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
20,000 
20,000 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
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Savvy IQ Hospitality Ltd Notes to the Accounts for the year ended 30 June 2024
9
Transactions with related parties
Included in creditors is a sum of £147,817 (2023: £134,814) owed to Mr P Sarlas.
10
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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