Heymaa Watford Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02911868 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019

FOR

HEYMAA WATFORD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J V Patel

S V Patel

REGISTERED OFFICE:

Best Western

Whitehouse Hotel

27-31 Upton Road

Watford

Hertfordshire

WD18 0JF

REGISTERED NUMBER:

02911868 (England and Wales)

ACCOUNTANTS:

Macalvins Limited

Chartered Accountants

7 St John's Road

Harrow

Middlesex

HA1 2EY

FIXED ASSETS

Intangible assets

4

12,600

25,200

Tangible assets

5

2,901,658

2,949,055

2,914,258

2,974,255

CURRENT ASSETS

Stocks

2,275

2,740

Debtors

6

20,030

33,960

Cash at bank and in hand

429,721

184,173

452,026

220,873

CREDITORS

Amounts falling due within one year

7

861,787

864,284

NET CURRENT LIABILITIES

(409,761

)

(643,411

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,504,497

2,330,844

CREDITORS

Amounts falling due after more than one year

8

(1,310,053

)

(1,361,862

)

PROVISIONS FOR LIABILITIES

(62,232

)

(60,420

)

NET ASSETS

1,132,212

908,562

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

1,131,212

907,562

1,132,212

908,562

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 24 March 2020 and were signed on its behalf by:

S V Patel - Director

J V Patel - Director

1.	STATUTORY INFORMATION

Heymaa Watford Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

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

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less

any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

15% reducing balance

Fixtures and fittings

-

15% reducing balance

Integral features

-

15% 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 balance sheet date.

Deferred tax

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

sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2018 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2018

and 30 June 2019

70,000

AMORTISATION

At 1 July 2018

44,800

Charge for year

12,600

At 30 June 2019

57,400

NET BOOK VALUE

At 30 June 2019

12,600

At 30 June 2018

25,200

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Integral

property

machinery

fittings

features

Totals

£

£

£

£

£

COST

At 1 July 2018

2,846,552

66,079

375,185

44,108

3,331,924

Additions

-

60,685

6,650

-

67,335

At 30 June 2019

2,846,552

126,764

381,835

44,108

3,399,259

DEPRECIATION

At 1 July 2018

215,496

25,498

135,259

6,616

382,869

Charge for year

56,931

15,190

36,987

5,624

114,732

At 30 June 2019

272,427

40,688

172,246

12,240

497,601

NET BOOK VALUE

At 30 June 2019

2,574,125

86,076

209,589

31,868

2,901,658

At 30 June 2018

2,631,056

40,581

239,926

37,492

2,949,055

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

5,506

5,105

Other debtors

1,291

15,435

Prepayments and accrued income

13,233

13,420

20,030

33,960

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

68,648

85,488

Trade creditors

48,707

112,928

Amounts owed to group undertakings

595,814

595,814

Corporation Tax payable

68,096

12,622

VAT

56,344

45,904

Other creditors

16,000

3,300

Accrued expenses

8,178

8,228

861,787

864,284

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans - more than 1 year

1,310,053

1,361,862

Included within creditors: amounts falling due after more than one year is an amount of £1,035,462 (2018:

£1,019,910) in respect of liabilities payable or repayable by instalments which fall due for payment after more than

five years from the reporting date.

The bank loan is secured by way of first legal charge over BW Buckingham Hotel, Buckingham Road, Buckingham,

Bucks, MK18 1RY and BW White House Hotel, 27-31 Upton Road, Watford, Herts, WD18 OJF. The BW

Buckingham Hotel is owned by Heymaa Partnership LLP. Four of the partners of the LLP are shareholders in

Heymaa Watford Limited and Heymaa Limited. Two of the partners in the LLP are also directors of Heymaa

Watford Limited and Heymaa Limited. There is also a Cross Guarantee and Debenture between Heymaa Partnership

LLP, Heymaa Watford Limited and Heymaa Limited.

9.	RELATED PARTY DISCLOSURES

Included in creditors is £595,814 (2018: £595,814) owed to Heymaa Limited. The loan is interest free and repayable

on demand. Heymaa Limited and Heymaa Watford Limited have common directors and are controlled by the same

parties.

10.	ULTIMATE CONTROLLING PARTY

The directors and their families control the company by virtue of their shareholdings.