0 false false false false false false false false false false true false false false false true true No description of principal activity 2023-06-26 Sage Accounts Production Advanced 2023 - FRS102_2023 27,720,198 163,629 27,883,827 27,883,827 xbrli:pure xbrli:shares iso4217:GBP 14960650 2023-06-26 2024-06-30 14960650 2024-06-30 14960650 2023-06-25 14960650 bus:Director4 2023-06-26 2024-06-30 14960650 core:WithinOneYear 2024-06-30 14960650 core:RevaluationReserve 2023-06-26 2024-06-30 14960650 core:RetainedEarningsAccumulatedLosses 2023-06-26 2024-06-30 14960650 core:ShareCapital 2024-06-30 14960650 core:RevaluationReserve 2024-06-30 14960650 core:RetainedEarningsAccumulatedLosses 2024-06-30 14960650 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-06-30 14960650 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-06-30 14960650 core:CostValuation core:Non-currentFinancialInstruments 2024-06-30 14960650 core:Non-currentFinancialInstruments 2024-06-30 14960650 bus:SmallEntities 2023-06-26 2024-06-30 14960650 bus:AuditExempt-NoAccountantsReport 2023-06-26 2024-06-30 14960650 bus:SmallCompaniesRegimeForAccounts 2023-06-26 2024-06-30 14960650 bus:PrivateLimitedCompanyLtd 2023-06-26 2024-06-30 14960650 bus:FullAccounts 2023-06-26 2024-06-30
COMPANY REGISTRATION NUMBER: 14960650
SFP UK IBERIAN HOTEL OPERATIONS LTD
Filleted Unaudited Financial Statements
30 June 2024
SFP UK IBERIAN HOTEL OPERATIONS LTD
Statement of Financial Position
30 June 2024
30 Jun 24
Note
£
Fixed assets
Investments in subsidiaries
4
27,883,827
Current assets
Debtors
5
347,785
Cash at bank and in hand
27,511
---------
375,296
Creditors: amounts falling due within one year
6
67,700
---------
Net current assets
307,596
-------------
Total assets less current liabilities
28,191,423
-------------
Net assets
28,191,423
-------------
Capital and reserves
Called up share capital
28,023,872
Other reserves
163,629
Profit and loss account
3,922
-------------
Shareholders funds
28,191,423
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 June 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SFP UK IBERIAN HOTEL OPERATIONS LTD
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 23 June 2025 , and are signed on behalf of the board by:
Mr Andrew Dean
Director
Company registration number: 14960650
SFP UK IBERIAN HOTEL OPERATIONS LTD
Notes to the Financial Statements
Period from 26 June 2023 to 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Cork Street Mews, London, W1S 3BL, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying small entity as defined in FRS 102. As such,advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Revenue recognition
Revenue relates to strategic asset management fees. Asset management fee income is recognised in the accounting period in which control of the services are passed to the customer, which is when the service is rendered. For certain service contracts, revenue is recognised based on the actual service provided to the end of the reporting period as a proportion of the total services to be provided because the customer receives and uses the benefits simultaneously.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Investments in subsidiaries
Investments in subsidiaries is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investments in subsidiaries is subsequently revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments in subsidiaries
Investment in subsidiaries
£
Cost
At 26 June 2023
Additions
27,720,198
Revaluations
163,629
-------------
At 30 June 2024
27,883,827
-------------
Impairment
At 26 June 2023 and 30 June 2024
-------------
Carrying amount
At 30 June 2024
27,883,827
-------------
5. Debtors
30 Jun 24
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
303,551
Other debtors
44,234
---------
347,785
---------
6. Creditors: amounts falling due within one year
30 Jun 24
£
Trade creditors
1,800
Corporation tax
920
Other creditors
64,980
--------
67,700
--------
7. Analysis of other comprehensive income
Other reserves
Profit and loss account
Total
£
£
£
Period ended 30 June 2024
Reclassification from revaluation reserve to profit and loss account
163,629
( 163,629)
---------
---------
----
8. Controlling party
The ultimate controlling party is SFP RE Investments SCSp, 11, rue Eugène Ruppert, 2453 Luxembourg, Luxembourg.