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

REGISTERED NUMBER: 05830445 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019

FOR

HEYMAA 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

Buckingham Hotel

Buckingham Ring Road

Buckingham

Buckinghamshire

MK18 1RY

REGISTERED NUMBER:

05830445 (England and Wales)

ACCOUNTANTS:

Macalvins Limited

Chartered Accountants

7 St John's Road

Harrow

Middlesex

HA1 2EY

FIXED ASSETS

Intangible assets

4

117,876

235,752

Tangible assets

5

227,714

152,765

345,590

388,517

CURRENT ASSETS

Stocks

5,635

5,265

Debtors

6

666,834

671,818

Cash at bank and in hand

631,592

639,105

1,304,061

1,316,188

CREDITORS

Amounts falling due within one year

7

314,638

357,397

NET CURRENT ASSETS

989,423

958,791

TOTAL ASSETS LESS CURRENT LIABILITIES

1,335,013

1,347,308

CREDITORS

Amounts falling due after more than one year

8

(748,788

)

(789,136

)

PROVISIONS FOR LIABILITIES

(40,520

)

(25,677

)

NET ASSETS

545,705

532,495

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

545,605

532,395

545,705

532,495

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:

J V Patel - Director

S V Patel - Director

1.	STATUTORY INFORMATION

Heymaa 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 2019, 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

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 37 (2018 - 37 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2018

and 30 June 2019

1,071,600

AMORTISATION

At 1 July 2018

835,848

Charge for year

117,876

At 30 June 2019

953,724

NET BOOK VALUE

At 30 June 2019

117,876

At 30 June 2018

235,752

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 July 2018

213,572

311,475

525,047

Additions

71,329

43,804

115,133

At 30 June 2019

284,901

355,279

640,180

DEPRECIATION

At 1 July 2018

157,019

215,263

372,282

Charge for year

19,182

21,002

40,184

At 30 June 2019

176,201

236,265

412,466

NET BOOK VALUE

At 30 June 2019

108,700

119,014

227,714

At 30 June 2018

56,553

96,212

152,765

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

16,877

22,681

Amounts owed by group undertakings

649,855

639,585

Other debtors

102

102

Prepayments

-

9,450

666,834

671,818

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

41,924

43,500

Trade creditors

37,096

40,962

Corporation Tax payable

133

31,567

Social security and other taxes

11,399

11,404

VAT

67,225

68,189

Other creditors

-

3,631

Director's current account

134,637

143,076

Accrued expenses

22,224

15,068

314,638

357,397

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans - more than 1 year

748,788

789,136

Included within creditors: amounts falling due after more than one year is an amount of £581,094 (2018: £615,136)

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 White House Hotel, 27-31 Upton Road, Watford, Herts, WD18 0JF. The BW Buckingham

Hotel is owned by Heymaa Partnership LLP. All eight partners of the LLP are shareholders in Heymaa Limited and

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

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

Watford Limited and Heymaa Limited.

9.	RELATED PARTY DISCLOSURES

Heymaa Limited paid a rent of £180,000 (2018: £180,000) to Heymaa Partnership LLP. Heymaa Partnership LLP

paid £nil (2018: £12,000) to Heymaa Limited for the provision of management services.

Included in debtors is £54,040 (2018: £43,770) owed by Heymaa Partnership LLP. The Loan is interest free and

repayable on demand

All eight partners in Heymaa Partnership LLP are shareholders in Heymaa Limited. Two of the partners in Heymaa

Partnership LLP are also directors of Heymaa Limited.

Included in debtors is £595,814 (2018: £595,814) owed by Heymaa Watford 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.

During the year, a dividend of £nil (2018: £20,000) was issued to the directors and their family members.

Included within creditors: amounts falling due within one year is an amount of £134,637 (2018: 143,076) due to

directors of the company.

There are no terms as to interest or repayment in respect of these balances.

10.	ULTIMATE CONTROLLING PARTY

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