Registration number:
for the Year Ended
SCP Newbury Manor Limited
(Registration number: 08988417)
Balance Sheet as at 31 December 2020
Note |
2020 |
2019 |
|
Fixed assets |
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Intangible assets |
- |
- |
|
Tangible assets |
|
|
|
Current assets |
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Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
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Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
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Called up share capital |
1 |
1 |
|
Profit and loss account |
(2,894,855) |
(2,792,472) |
|
Shareholders' deficit |
(2,894,854) |
(2,792,471) |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been 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.
Approved and authorised by the
.........................................
Director
SCP Newbury Manor Limited
Notes to the Financial Statements for the Year Ended 31 December 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
As at 31 December 2020, the Company had net liabilities of £2,894,854. The directors anticipate future funding being obtained from the Parent Company, Mudlark Hotels Limited, in order for the Company to meet its debts as they fall due. The Parent Company has indicated that it is willing to provide the Company with such funding as is necessary in order for the Company to meet its debts as they fall due for the forseeable future, being at least one year from the date of approval of the financial statements.
The Parent Company, Mudlark Hotels Limited, has confirmed, in writing, that it will not call in its intercompany loan within 12 months from the date of approval of the financial statements unless there are sufficient funds to be able to do so.
On this basis, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the forseeable future and continue to adopt the going concern basis in preparing the financial statements.
Audit report
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
SCP Newbury Manor Limited
Notes to the Financial Statements for the Year Ended 31 December 2020
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Assets under construction |
Not depreciated |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
Straight line over 5 years |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
SCP Newbury Manor Limited
Notes to the Financial Statements for the Year Ended 31 December 2020
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 January 2020 |
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At 31 December 2020 |
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Amortisation |
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At 1 January 2020 |
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At 31 December 2020 |
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Carrying amount |
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At 31 December 2020 |
- |
- |
Tangible assets |
Assets under development |
Total |
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Cost or valuation |
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At 1 January 2020 |
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At 31 December 2020 |
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Depreciation |
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Carrying amount |
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At 31 December 2020 |
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At 31 December 2019 |
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SCP Newbury Manor Limited
Notes to the Financial Statements for the Year Ended 31 December 2020
Debtors |
Note |
2020 |
2019 |
|
Amounts owed by group undertakings |
|
|
|
Prepayments |
|
- |
|
Other debtors |
|
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
2020 |
2019 |
|
Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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Other creditors |
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Related party transactions |
CCO Cygnet Limited
SCP Newbury Manor Limited incurred expenses of £nil (2019: £924) which were paid for and recharged by CCO Cygnet Limited, a company related by virtue of common control and directors in common. The company owed £924 (2019: £924) to CCO Cygnet Limited at the year end.
Rare Bird Hotels
SCP Newbury Manor Limited incurred expenses in the year of £2,520 (2019: £nil) which were paid for and recharged by Rare Bird Hotels, a company related by virtue of common control and directors in common. The company owed £2,520 (2019: £nil) to Rare Bird Hotels at the year end.
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The ultimate controlling party is