Registered number
06794975
The Pop-Up Hotel Limited
Report and unaudited Financial Statements
31 July 2017
The Pop-Up Hotel Limited
Registered number: 06794975
Balance sheet
as at 31 July 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 4 30,400 50,600
Investments 2 2
30,402 50,602
Current assets
Debtors 6 54,603 74,296
Cash at bank and in hand 304,884 12,534
359,487 86,830
Creditors: amounts falling due within one year 7 (392,642) (156,648)
Net current liabilities (33,155) (69,818)
Total assets less current liabilities (2,753) (19,216)
Creditors: amounts falling due after more than one year 8 (61,049) (144,936)
Net liabilities (63,802) (164,152)
Capital and reserves
Called up share capital 100 100
Profit and loss account (63,902) (164,252)
Shareholder's funds (63,802) (164,152)
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and the option not to file the profit and loss account has been taken, under s444.
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of unaudited financial statements.
………………………………
Mr M J Sorrill
Director
Approved by the board on 30 April 2018
The Pop-Up Hotel Limited
Notes to the unaudited financial statements
for the year ended 31 July 2017
1 General Information
The Pop-Up Hotel Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is : Suit 6, Beaumont Buildings, Woodlands Road, Mere, Warminster, Wiltshire, England, BA12 6BT.
2 Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 102 Section 1A "Small Entities". "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
First year adoption
These financial statements for the year ended 31 July 2017 are the first financial statements of the Company following the adoption of FRS 102. The date of transition to FRS 102 was 1 August 2015. The Company previously reported under old UK GAAP. The Company has made no measurement and recognition adjustments.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 4 years straight line
Fixture and fittings 4 years straight line
Office equipment 3 years straight line
Investments
Investments held as fixed assets are shown at cost less provision for impairment.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.
Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
3 Average number of employees during the year
The average number of employees, including directors, during the year was as follows:
2017 2016
Number Number
Number of employees 6 7
4 Tangible fixed assets
Plant and machinery Fixture and fittings Office equipment Total
£ £ £ £
Cost
At 1 August 2016 182,026 98,521 2,571 283,118
Additions 1,541 - 829 2,370
At 31 July 2017 183,567 98,521 3,400 285,488
Depreciation
At 1 August 2016 163,033 67,473 2,012 232,518
Charge for the year 8,985 12,874 711 22,570
At 31 July 2017 172,018 80,347 2,723 255,088
Net book value
At 31 July 2017 11,549 18,174 677 30,400
At 31 July 2016 18,993 31,048 559 50,600
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 August 2016 2
At 31 July 2017 2
The company holds 20% or more of the share capital of the following companies:
Capital and Profit (loss)
Company Share held reserves for the year
Class % £ £
The Pop Up Motel Ltd Ordinary 100 1 -
Secret Cayman Ltd Ordinary 100 1 -
6 Debtors 2017 2016
£ £
Trade debtors 50,386 68,450
Other taxes and social security costs - 1,825
Prepayments and accrued income 4,217 4,021
54,603 74,296
7 Creditors: amounts falling due within one year 2017 2016
£ £
Bank loans and overdrafts 17,451 16,672
Trade creditors 161,391 134,850
Corporation tax 67 -
Other taxes and social security costs 22,312 3,362
Other creditors 191,421 1,764
392,642 156,648
8 Creditors: amounts falling due after one year 2017 2016
£ £
Bank loans 17,464 31,955
Director's loan account 43,585 112,981
61,049 144,936
9 Related party transactions
Mr M J Sorrill
Director and shareholder
During the year, the director's current account of Mr M J Sorrill was credited with capital introduced of £13,793 and dividends of Nil and charged with drawings of £83,189. The balance owed to Mr M J Sorrill at 31 July 2017 was £43,585 (2016 : £112,981)
These amounts are interest free and there is no fixed repayment date.
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