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Registered number: 10023799
SISULU GROUP LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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CONTENTS
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Statement of Financial Position
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Statement of Changes in Equity
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Notes to the Financial Statements
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SISULU GROUP LIMITED
REGISTERED NUMBER:10023799
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STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2025
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Debtors: amounts falling due after more than one year
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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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Provisions for liabilities
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SISULU GROUP LIMITED
REGISTERED NUMBER:10023799
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STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2025
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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SISULU GROUP LIMITED
REGISTERED NUMBER:10023799
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STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2025
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 22 July 2026.
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2025
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Surplus on revaluation of freehold property net of related deferred taxation
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Transfer of excess depreciation from revaluation reserve to profit and loss account
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Transfer of excess depreciation from revaluation reserve to profit and loss account
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The notes on pages 5 to 12 form part of these financial statements.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Sisulu Group Limited is a private limited liability company incorporated in England and Wales with its registered office address at 16 Lambton Place, London W11 2SH and principal place of business at Holgate Hill Hotel, 124 Holgate Road, York, YO24 4BB.
The Company's principal activity is that of operating a hotel.
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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
As at 31 October 2025, the Company had net current liabilities of £2,719,961 (2024: £287,137). The Company continues to receive financial support from the directors and related companies in the form of loans. The directors have confirmed that this support will continue for at least 12 months from the date of approval of these financial statements. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.
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Functional and presentation currency
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The Company's functional and presentational currency is GBP.
Turnover comprises revenue recognised by the Company in respect of hotel services supplied and rental income earned during the year, exclusive of Value Added Tax.
Turnover consists of room rentals, food and beverages sales. Revenue from room rentals is recognised according ot the date of occupany. Revenue from food and beverages are recognised at the point of sale. Rental income is recognised in the period to which it relates.
Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Defined contribution pension plan
The Company contributes to a defined contribution plan 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 the Statement of Comprehensive Incomes 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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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. 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.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.
Other intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Land is not depreciated. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful live.
Depreciation is provided on the following basis:
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Long-term leasehold property
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Revaluation of freehold property
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Freehold and long leasehold properties are carried at fair value less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
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.
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The average monthly number of employees, including directors, during the year was 16 (2024 - 11).
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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Intellectual Property Rights
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Charge for the year on owned assets
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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Long-term leasehold property
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Charge for the year on owned assets
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Reversal of prior year charge
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Freehold property is stated at valuation. The property was valued by the directors at 31 October 2025 on the basis of fair value for existing use.
Long-term leasehold property and plant and machinery are stated at cost.
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If the freehold property had not been included at valuation it would have been included under the historical cost convention as follows:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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Due after more than one year
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Taxation and social security
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Accruals and deferred income
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The Company's bank facilities are secured by a fixed and floating charge over the assets of the Company.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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Creditors: Amounts falling due after more than one year
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The Company's bank facilities are secured by a fixed and floating charge over the assets of the Company.
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The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:
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Charged/(released) to profit and loss
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Charged to other comprehensive income
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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Tax losses carried forward
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Revaluation of freehold property
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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Allotted, called up and fully paid
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100 Ordinary shares of £1 each
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Revaluation reserve
The revaluation reserve represents the cumulative surplus arising on the revaluation of freehold property to fair value, net of deferred tax recognised on that surplus. The reserve is reduced by annual transfers to the profit and loss account representing the excess of depreciation charged on the revalued amount over depreciation that would have been charged on historical cost. The revaluation reserve is non-distributable
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Related party transactions
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Included in other creditors are amounts of £3,021,171 (2024 - £506,591) due to entities under the common control of the directors. These amounts both interest-free with no fixed terms of repayment.
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