Registered Number 09051766
SHERATON SYSTEMS (HOLDING) LTD
Abbreviated Accounts
30 June 2015
Notes | 2015 | ||
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Called up share capital not paid |
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Fixed assets | |||
Intangible assets |
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Tangible assets |
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Investments | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Investments |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Creditors: amounts falling due within one year |
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Net current assets (liabilities) |
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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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Accruals and deferred income |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Share premium account |
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Revaluation reserve |
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Other reserves |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1Accounting Policies
Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Cash Flow Statement
The Company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the Company’s taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.
Group accounts
The Company and its subsidiary undertaking comprise a small-sized group. The Company has therefore taken advantage of the exemptions provided by section 248 of the Companies Act 1985 not to prepare group accounts. These financial statements present information about the Company as an individual undertaking only.
Acquisitions
On 31 August 2014, as part of a solvent reorganisation in accordance with s.110 of the Insolvency Act 1986, the Company was party to an agreement whereby it acquired assets from John Holman Holdings Limited, in return for an issue of shares. Mr A M Holman was previously the sole director and shareholder of John Holman Holdings Limited. The Company acquired 100% of the issued share capital of Sheraton Systems Limited, which was previously owned by John Holman Holdings Limited. In accordance with FRS6 'Acquisitions and Mergers', this transaction has been accounted for by using acquisition accounting, with merger relief applying to the share for share exchange.
2Fixed assets Investments
Unlisted investments
Cost:
Acquired on 31 August 2014 £2,894,454
In the opinion of the directors the aggregate value of the Company's investment in subsidiary undertaking is not less than the amount included in the balance sheet.
Holdings of more than 20%
The Company holds more than 20% of the share capital of the following companies:
Sheraton Systems Limited
Company Registration No. 02348058
Shares held Ordinary 100%
The aggregate amount of capital and reserves and the results of this undertaking for the last relevant financial year was as follows:
Capital and reseves £1,170,837
Profit for the year £290,842