Registration number:
Global Hospitality Investment Group UK Limited
for the Period from 2 October 2020 to 31 December 2021
Global Hospitality Investment Group UK Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Global Hospitality Investment Group UK Limited
Company Information
Director |
K S Colket |
Company secretary |
Goodwille Limited |
Registered office |
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Accountants |
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Global Hospitality Investment Group UK Limited
(Registration number: 12922789)
Statement of Financial Position as at 31 December 2021
Note |
2021 |
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Non-current assets |
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Property, plant and equipment |
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Current assets |
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Receivables |
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Cash at bank and in hand |
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Payables: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Net liabilities |
( |
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Equity |
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Called up share capital |
1 |
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Profit and loss account |
(293,887) |
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Shareholders' deficit |
(293,886) |
For the financial period ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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 and in accordance with the provisions of FRS 102 Section 1A - small entities.
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 Income statement has been taken.
The financial statements of Global Hospitality Investment Group UK Limited were approved and authorised for issue by the
Global Hospitality Investment Group UK Limited
(Registration number: 12922789)
Statement of Financial Position as at 31 December 2021 (continued)
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Director
Global Hospitality Investment Group UK Limited
Notes to the Unaudited Financial Statements
for the Period from 2 October 2020 to 31 December 2021
General information |
Global Hospitality Investment Group UK Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1.
Accounting policies |
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.
Going concern
The director has considered the ongoing effects of COVID-19 on the company's operations and the financial projections for the company over the foreseeable future and has also reviewed the ongoing committed financial support from the company's parent undertaking and is confident that this will be available for the foreseeable future. After making enquiries, the director is satisfied that the company has sufficient resources to continue in operation for the foreseeable future, being at least 12 months from the date of signing the financial statements. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.
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.
The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).
Judgements and key sources of estimation uncertainties
There are no critical judgements, estimations or assumptions made by the directors in the process of applying the company's accounting policies which have a significant effect on the amounts recognised in the financial statements.
Global Hospitality Investment Group UK Limited
Notes to the Unaudited Financial Statements
for the Period from 2 October 2020 to 31 December 2021 (continued)
2 |
Accounting policies (continued) |
Revenue recognition
Revenue comprises the fair value of the consideration received or receivable for the provision of financial intermediation services in the ordinary course of the company’s activities. Revenue is shown net of value added tax.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Property, plant and equipment
Property, plant and equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.
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 |
Office equipment |
25% straight line |
Computer equipment |
33% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise current bank accounts and are subject to an insignificant risk of change in value.
Receivables
Receivables are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of receivables is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Payables
Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Global Hospitality Investment Group UK Limited
Notes to the Unaudited Financial Statements
for the Period from 2 October 2020 to 31 December 2021 (continued)
2 |
Accounting policies (continued) |
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.
Defined contribution pension obligation
The company operates a defined contribution pension scheme. The assets of the schemes are held separately from those of the company. Contributions are recognised in the income statement in the period in which they become payable.
Financial instruments
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Property, plant and equipment |
Office Equipment |
Computer Equipment |
Total |
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Cost |
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Additions |
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At 31 December 2021 |
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Depreciation |
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Charge for the period |
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At 31 December 2021 |
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Carrying amount |
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At 31 December 2021 |
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Global Hospitality Investment Group UK Limited
Notes to the Unaudited Financial Statements
for the Period from 2 October 2020 to 31 December 2021 (continued)
Receivables |
2021 |
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Other receivables |
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Cash and cash equivalents |
2021 |
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Cash at bank |
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Payables |
2021 |
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Due within one year |
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Trade payables |
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Amount owed to parent undertaking |
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Outstanding pension contribution |
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Share capital and reserves |
Allotted, called up and fully paid shares
2021 |
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No. |
£ |
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1 |
New share allotted
During the period |
Global Hospitality Investment Group UK Limited
Notes to the Unaudited Financial Statements
for the Period from 2 October 2020 to 31 December 2021 (continued)
8 |
Share capital and reserves (continued) |
The company has one class of share capital which carries no right to fixed income.
Retained earnings
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.
Pension scheme |
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge for the period represents contributions payable by the company to the scheme and amounted to £
Related party transactions |
The company is a wholly owned subsidiary member of its group and has therefore taken advantage of the provisions of paragraph 1AC.35 of FRS 102 - Small Entities not to disclose transactions with entities that are wholly owned members of the group.
There were no other related party transactions to disclose.
Parent and ultimate controlling party |
The company's immediate parent is
The ultimate controlling party is
Events after the financial period |
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