Newbury Park Hotels Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10813947 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

FOR

NEWBURY PARK HOTELS LTD

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

H S Atkar

K S Gill

REGISTERED OFFICE:

505 Pinner Road

Harrow

Middlesex

HA2 6EH

REGISTERED NUMBER:

10813947 (England and Wales)

ACCOUNTANTS:

Sterling

Chartered Accountants

505 Pinner Road

Harrow

Middlesex

HA2 6EH

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Newbury Park Hotels Ltd for the year ended 30 June 2019 which comprise the Income

Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Newbury Park Hotels Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Newbury Park Hotels Ltd and state those matters that we have agreed to state to the Board of Directors of Newbury Park Hotels Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Newbury Park Hotels Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Newbury Park Hotels Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Newbury Park Hotels Ltd. You consider that Newbury Park Hotels Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Newbury Park Hotels Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Sterling

Chartered Accountants

505 Pinner Road

Harrow

Middlesex

HA2 6EH

18 March 2020

FIXED ASSETS

Tangible assets

4

15,075,344

14,426,055

CURRENT ASSETS

Stocks

7,247

6,995

Debtors

5

292,932

452,694

Cash at bank

239,261

230,666

539,440

690,355

CREDITORS

Amounts falling due within one year

6

2,214,091

6,196,788

NET CURRENT LIABILITIES

(1,674,651

)

(5,506,433

)

TOTAL ASSETS LESS CURRENT LIABILITIES

13,400,693

8,919,622

CREDITORS

Amounts falling due after more than one year

7

(9,100,000

)

(9,100,000

)

PROVISIONS FOR LIABILITIES

10

(5,959

)

(7,246

)

NET ASSETS/(LIABILITIES)

4,294,734

(187,624

)

CAPITAL AND RESERVES

Called up share capital

11

100

100

Revaluation reserve

12

4,426,119

-

Retained earnings

12

(131,485

)

(187,724

)

SHAREHOLDERS' FUNDS

4,294,734

(187,624

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 18 March 2020 and were signed on its behalf by:

K S Gill - Director

1.	STATUTORY INFORMATION

Newbury Park Hotels Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life.

Long leasehold - 1% on cost

Plant and machinery - 25% on reducing balance

Fixtures and fittings - 20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2018 - 26 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST OR VALUATION

At 1 July 2018

14,681,549

2,719

45,123

14,729,391

Additions

-

-

1,196

1,196

Revaluations

4,470,827

-

-

4,470,827

Impairments

(3,659,840

)

-

-

(3,659,840

)

At 30 June 2019

15,492,536

2,719

46,319

15,541,574

DEPRECIATION

At 1 July 2018

293,631

680

9,025

303,336

Charge for year

154,925

510

7,459

162,894

At 30 June 2019

448,556

1,190

16,484

466,230

NET BOOK VALUE

At 30 June 2019

15,043,980

1,529

29,835

15,075,344

At 30 June 2018

14,387,918

2,039

36,098

14,426,055

Cost or valuation at 30 June 2019 is represented by:

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

Valuation in 2019

4,470,827

-

1,196

4,472,023

Valuation in 2019

(3,659,840

)

-

-

(3,659,840

)

Cost

14,681,549

2,719

45,123

14,729,391

15,492,536

2,719

46,319

15,541,574

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/6/19

30/6/18

£

£

Trade debtors

91,454

39,170

Amounts owed by participating interests

-

222,397

Other debtors

63,379

63,379

Prepayments

138,099

127,748

292,932

452,694

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/6/19

30/6/18

£

£

Trade creditors

295,981

310,070

Amounts owed to participating interests

1,571,663

1,371,663

Amounts owed to participating interests

-

4,320,000

Tax

57,928

17,596

Social security and other taxes

7,552

5,263

VAT

101,532

66,258

Other creditors

143,152

68,613

Accrued expenses

36,283

37,325

2,214,091

6,196,788

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/6/19

30/6/18

£

£

Bank loans (see note 8)

9,100,000

9,100,000

8.

LOANS

An analysis of the maturity of loans is given below:

30/6/19

30/6/18

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

9,100,000

9,100,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

30/6/19

30/6/18

£

£

Bank loans

9,100,000

9,100,000

The loan is secured by the way of fixed and floating charge over the leasehold property in the company,

together with a personal guarantee from the directors.

Loan is repayable at the end of 5th year maturing on 1st December 2022, with the rate of interest being 4.7%.

10.	PROVISIONS FOR LIABILITIES

30/6/19

30/6/18

£

£

Deferred tax

5,959

7,246

Deferred tax

£

Balance at 1 July 2018

7,246

Provided during year

(1,287

)

Accelerated Capital Allowances

Balance at 30 June 2019

5,959

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/6/19

30/6/18

value:

£

£

100

Ordinary

1

100

100

12.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 July 2018

(187,724

)

-

(187,724

)

Profit for the year

11,531

11,531

Revaluation reserve

-

4,470,827

4,470,827

Revaluation reserve transfer

44,708

(44,708

)

-

At 30 June 2019

(131,485

)

4,426,119

4,294,634

13.	RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £1,571,663 (2018 - £1,371,663) to Aquesta Limited, a company

in which the directors have participating interest.

14.	ULTIMATE CONTROLLING PARTY

The director, H S Aktar, is the ultimate controller of the company as he holds all of the issued share capital of

the company.