REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30th March 2020 |
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for |
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SHERATON DWELLINGS LIMITED |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30th March 2020 |
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for |
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SHERATON DWELLINGS LIMITED |
SHERATON DWELLINGS LIMITED (REGISTERED NUMBER: 05618959) |
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Contents of the Financial Statements |
for the Year Ended 30th March 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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SHERATON DWELLINGS LIMITED |
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Company Information |
for the Year Ended 30th March 2020 |
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Director: |
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Secretary: |
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Registered office: |
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Registered number: |
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Accountants: |
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Chartered Accountants |
3 Redman Court |
Bell Street |
Princes Risborough |
Bucks | HP27 0AA |
SHERATON DWELLINGS LIMITED (REGISTERED NUMBER: 05618959) |
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Balance Sheet |
30th March 2020 |
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2019 | 2020 |
£ | £ | Notes | £ | £ |
FIXED ASSETS |
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Investment property | 4 |
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CURRENT ASSETS |
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Stocks | 5 |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
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Amounts falling due within one year | 7 |
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) | NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
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) | Amounts falling due after more than one year | 8 | ( |
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) | PROVISIONS FOR LIABILITIES | 10 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
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Called up share capital |
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Revaluation reserve | 11 |
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Retained earnings | 11 |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
SHERATON DWELLINGS LIMITED (REGISTERED NUMBER: 05618959) |
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Balance Sheet - continued |
30th March 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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SHERATON DWELLINGS LIMITED (REGISTERED NUMBER: 05618959) |
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Notes to the Financial Statements |
for the Year Ended 30th March 2020 |
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1. | STATUTORY INFORMATION |
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Sheraton Dwellings Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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SHERATON DWELLINGS LIMITED (REGISTERED NUMBER: 05618959) |
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Notes to the Financial Statements - continued |
for the Year Ended 30th March 2020 |
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4. | INVESTMENT PROPERTY |
Total |
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Fair value |
At 31st March 2019 |
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Revaluations | 223,066 |
Reclassification/transfer | 776,934 |
At 30th March 2020 |
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Net book value |
At 30th March 2020 |
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At 30th March 2019 |
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Fair value at 30th March 2020 is represented by: |
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Valuation in 2019 | 4,097,921 |
Valuation in 2020 | 1,000,000 |
5,097,921 |
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5. | STOCKS |
2020 | 2019 |
£ | £ |
Work-in-progress |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Loan Account : Hillview Road |
Development Limited |
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Loan account : Buckingham |
Hotels Group Limited | 98,409 | 98,409 |
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SHERATON DWELLINGS LIMITED (REGISTERED NUMBER: 05618959) |
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Notes to the Financial Statements - continued |
for the Year Ended 30th March 2020 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Other loans |
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Corporation tax |
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Loan Account : Isotope Medical Limited | 105,000 | 105,000 |
Loan Account : S Dad Limited | 380,199 | 380,199 |
Loan Account : Sheraton Developments
Limited |
388,506 |
388,506 |
Accruals and deferred income |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2020 | 2019 |
£ | £ |
Other loans more 5yrs non-inst | 2,092,266 | 2,092,266 |
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Amounts falling due in more than five years: |
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Repayable otherwise than by instalments |
Other loans more 5yrs non-inst |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2020 | 2019 |
£ | £ |
Other loans |
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The bank loans and mortgages are secured against the freehold property. |
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10. | PROVISIONS FOR LIABILITIES |
2020 | 2019 |
£ | £ |
Deferred tax | 146,391 | 102,108 |
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Deferred |
tax |
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Balance at 31st March 2019 |
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Provided during year |
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Balance at 30th March 2020 |
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SHERATON DWELLINGS LIMITED (REGISTERED NUMBER: 05618959) |
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Notes to the Financial Statements - continued |
for the Year Ended 30th March 2020 |
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11. | RESERVES |
Retained | Revaluation |
Totals | earnings | reserve |
£ | £ | £ |
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At 31st March 2019 | 1,611,327 |
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Profit for the year |
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Unrealised revaluation profit |
transferred to revaluation |
reserve | - | (178,783 | ) | 178,783 |
At 30th March 2020 | 1,890,516 |
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12. | ULTIMATE CONTROLLING PARTY |
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The controlling party is S Dad. |