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Registered number: 01897445
ULTRASWIFT LTD
(FORMERLY KNOWN AS ASTOR HOSTELS LIMITED)
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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ULTRASWIFT LTD (FORMERLY KNOWN AS ASTOR HOSTELS LIMITED)
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CONTENTS
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Statement of Financial Position
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Notes to the Financial Statements
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ULTRASWIFT LTD (FORMERLY KNOWN AS ASTOR HOSTELS LIMITED)
REGISTERED NUMBER:01897445
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STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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ULTRASWIFT LTD (FORMERLY KNOWN AS ASTOR HOSTELS LIMITED)
REGISTERED NUMBER:01897445
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STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 September 2025.
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ULTRASWIFT LTD (FORMERLY KNOWN AS ASTOR HOSTELS LIMITED)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Ultraswift Limited is a private limited liability company incorporated in England & Wales with its registered office and business address at 16 Lambton Place, London, W11 2SH.
The Company changed its name from Ultraswift Limited to Astor Hostels Limited on 27 August 2024 and again changed its name from Astor Hostels Limited to Ultraswift Ltd on 7 March 2025.
The principal activities of the Company continued to be those of a hotelier and supplier of building materials and services.
The Company’s functional and presentational currency is £ Sterling.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
Turnover comprises revenue recognised by the company in respect of hotel services, management fees and the supply of building materials, exclusive of Value Added Tax.
Hotel revenue is recognised according to the date of occupancy. Revenue from management services is recognised in the period in which the service is provided. Revenue from the provision of building materials is recognised at the point of supply.
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ULTRASWIFT LTD (FORMERLY KNOWN AS ASTOR HOSTELS LIMITED)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Tangible fixed assets are stated at cost less depreciation.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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Short term leasehold property
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over the term of the lease.
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
Cost incurred in respect of productions in course of development are carried forward as work in progress where, in opinion of the directors, they are expected to prove recoverable in the future.
Short term debtors are measured at the transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Defined contribution pension plan
The Company contributes to defined contribution plans for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
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ULTRASWIFT LTD (FORMERLY KNOWN AS ASTOR HOSTELS LIMITED)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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 income.
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The average monthly number of employees, including directors, during the year was 28 (2023 - 24).
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Charge for the year on owned assets
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ULTRASWIFT LTD (FORMERLY KNOWN AS ASTOR HOSTELS LIMITED)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Investments in subsidiary companies
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Taxation and social security
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Accruals and deferred income
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Allotted, called up and fully paid
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20,000 Ordinary shares of £1 each
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ULTRASWIFT LTD (FORMERLY KNOWN AS ASTOR HOSTELS LIMITED)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The Company has provided cross guarantees in respect of bank loans taken out by its subsidiaries. At the reporting date the potential liability in respect of these guarantees was £325,000 (2023 - £325,000).
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