Registered number
09163274
Specialist Homestay Limited
Filleted Accounts
31 August 2017
Specialist Homestay Limited
Registered number: 09163274
Balance Sheet
as at 31 August 2017
Notes 2017 2016
£ £
Fixed assets
Investments 2 90,000 100,000
Current assets
Debtors 3 - 38
Creditors: amounts falling due within one year 4 (380,760) (362,093)
Net current liabilities (380,760) (362,055)
Net liabilities (290,760) (262,055)
Capital and reserves
Called up share capital 366 328
Profit and loss account (291,126) (262,383)
Shareholders' funds (290,760) (262,055)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C Wills
Director
Approved by the board on 12 March 2018
Specialist Homestay Limited
Notes to the Accounts
for the year ended 31 August 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The accounts have been prepared on the going concern basis owing to the continued support of the shareholders.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses.
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group and group accounts have not been prepared.
Share-based payments
The company has issued share options to one director. The equity-settled share based payments arrangements are not recognised as an expense in these financial statements.
2 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 September 2016 561,672
Provision for diminution in value
Brought forward (461,672)
Charge for the year (10,000)
Carried forward (471,672)
Net book value
At 31 August 2017 90,000
The investment was
The company holds 20% or more of the share capital of the following companies:
Capital and Profit (loss)
Company Shares held reserves for the year
Class % £ £
Doctor In The House Limited Ordinary 100 (67,052) (72,135)
3 Debtors 2017 2016
£ £
Other debtors - 38
4 Creditors: amounts falling due within one year 2017 2016
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 44,172 41,248
Other creditors 336,588 320,845
380,760 362,093
5 Related party transactions
During the year, Doctor in the House Limited, the company's subsidiary, paid £2,924 (2016: £2,400) worth of expenses on behalf of the company. The current year and brought forward balance remain outstanding at year end, totalling £44,172 (2016: £41,248). The loan is unsecured, interest free and repayable on demand. The company received no dividends from its subsidiary during the year.
Mr P Dineley and Mr R Rigby, shareholders of the company, loaned the company £279,720 and £9,990 respectively to fund the initial consideration for the purchase of the company's subsidiary. These loans carry interest at 5% per annum and are repayable on demand. The gross interest accrued for the current year was £15,664 (2016: £14,816) for Mr P Dineley and £559 (2016: £529) for Mr R Rigby. Gross interest due for the current and previous period has been added to the total amount due.
6 Share-based payments
In a previous period share options were granted to Mr C Wills, a company director, to subscribe for shares in the company with an exercise price of £1. Their vesting is subject to the meeting of specified performance related criteria by Mr C Wills. 113 share options were granted on 29 September 2014; 38 options vested on 31 August 2015 were exercised on 23 September 2015 and a further 38 shares vested on 31 August 2016 were exercised on 8 September 2016. The final 37 were vested on 31 August 2017 but these were exercised post year end.
7 Other information
Specialist Homestay Limited is a private company limited by shares and incorporated in England. Its registered office is:
Flat 1
17 Aubert Road
London
N5 1TX
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