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Registration number: 11021542

Sovereign Hospitality Private Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 March 2024

 

Sovereign Hospitality Private Limited

Contents

Company Information

1

Directors' Report

2

Profit and Loss Account

3

Statement of Comprehensive Income

4

Balance Sheet

5 to 6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 10

 

Sovereign Hospitality Private Limited

Company Information

Directors

Ms Kamilla Kim

Mr Marcos Verissimo

Registered office

3rd Floor
229 The Broadway
London
SW19 1SD

 

Sovereign Hospitality Private Limited

Directors' Report for the Year Ended 30 March 2024

The directors present their report and the financial statements for the year ended 30 March 2024.

Directors of the company

The directors who held office during the year were as follows:

Ms Kamilla Kim

Mr Marcos Verissimo

Principal activity

The principal activity of the company is Construction of commercial buildings

Small companies provision statement

This report has 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 17 March 2025 and signed on its behalf by:
 

.........................................
Ms Kamilla Kim
Director

.........................................
Mr Marcos Verissimo
Director

 

Sovereign Hospitality Private Limited

Profit and Loss Account for the Year Ended 30 March 2024

Note

2024
£

2023
£

Turnover

 

-

-

Cost of sales

 

-

(38,375)

Gross loss

 

-

(38,375)

Administrative expenses

 

(2,326)

(19,406)

Operating loss

 

(2,326)

(57,781)

Loss before tax

(2,326)

(57,781)

Loss for the financial year

 

(2,326)

(57,781)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Sovereign Hospitality Private Limited

Statement of Comprehensive Income for the Year Ended 30 March 2024

2024
£

2023
£

Loss for the year

(2,326)

(57,781)

Total comprehensive income for the year

(2,326)

(57,781)

 

Sovereign Hospitality Private Limited

(Registration number: 11021542)
Balance Sheet as at 30 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

13,000,000

13,000,000

Current assets

 

Debtors

5

3,550

17,223

Cash at bank and in hand

 

1,458

-

 

5,008

17,223

Creditors: Amounts falling due within one year

6

(8,347,435)

(8,357,324)

Net current liabilities

 

(8,342,427)

(8,340,101)

Total assets less current liabilities

 

4,657,573

4,659,899

Creditors: Amounts falling due after more than one year

6

(82,113)

(82,113)

Net assets

 

4,575,460

4,577,786

Capital and reserves

 

Called up share capital

4,410,000

4,410,000

Retained earnings

165,460

167,786

Shareholders' funds

 

4,575,460

4,577,786

For the financial year ending 30 March 2024 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 17 March 2025 and signed on its behalf by:
 

 

Sovereign Hospitality Private Limited

(Registration number: 11021542)
Balance Sheet as at 30 March 2024

.........................................
Ms Kamilla Kim
Director

.........................................
Mr Marcos Verissimo
Director

 

Sovereign Hospitality Private Limited

Statement of Changes in Equity for the Year Ended 30 March 2024

Share capital
£

Retained earnings
£

Total
£

At 31 March 2023

4,410,000

167,786

4,577,786

Loss for the year

-

(2,326)

(2,326)

At 30 March 2024

4,410,000

165,460

4,575,460

Share capital
£

Retained earnings
£

Total
£

At 31 March 2022

4,410,000

225,567

4,635,567

Loss for the year

-

(57,781)

(57,781)

At 30 March 2023

4,410,000

167,786

4,577,786

 

Sovereign Hospitality Private Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
3rd Floor
229 The Broadway
London
SW19 1SD
England

These financial statements were authorised for issue by the Board on 17 March 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

 

Sovereign Hospitality Private Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 31 March

13,000,000

At 30 March

13,000,000

If investment property had not been revalued it would have been included at the following historical cost - £ 11,802,017

5

Debtors

Current

2024
£

2023
£

Prepayments

3,000

3,000

Other debtors

550

14,223

 

3,550

17,223

 

Sovereign Hospitality Private Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

2,958

10,620

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8,344,477

8,333,204

Accruals and deferred income

 

-

13,500

 

8,347,435

8,357,324

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

82,113

82,113