Cranford Hotel Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07307655 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019

FOR

CRANFORD HOTEL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Takhar

P S Takhar

SECRETARY:

Mrs I K Takhar

REGISTERED OFFICE:

114-116 Goodmayes Road

Ilford

Essex

IG3 9UZ

REGISTERED NUMBER:

07307655 (England and Wales)

AUDITORS:

Ashfords Partnership LLP

(Statutory Auditors)

114 - 116 Goodmayes Road

Ilford

Essex

IG3 9UZ

FIXED ASSETS

Tangible assets

4

4,595,164

2,025,761

CURRENT ASSETS

Debtors

5

131,122

20,307

Cash at bank and in hand

80,839

93,993

211,961

114,300

CREDITORS

Amounts falling due within one year

6

132,124

109,831

NET CURRENT ASSETS

79,837

4,469

TOTAL ASSETS LESS CURRENT

LIABILITIES

4,675,001

2,030,230

CREDITORS

Amounts falling due after more than one

year

7

(1,716,821

)

(1,753,543

)

PROVISIONS FOR LIABILITIES

(497,256

)

-

NET ASSETS

2,460,924

276,687

CAPITAL AND RESERVES

Called up share capital

100

Fair value reserve

8

2,119,882

-

Retained earnings

340,942

276,587

SHAREHOLDERS' FUNDS

2,460,924

276,687

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 and authorised for issue on 30 June 2020 and were

signed on its behalf by:

P S Takhar - Director

1.	STATUTORY INFORMATION

Cranford Hotel 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.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

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.

Freehold property

-

2% on cost

Fixtures and fittings

-

25% on reducing balance

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.

Going concern

The accounts have been prepared on going concern basis which assumes that the company will continue to

receive adequate financial assistance from the Directors, Bankers, other creditors and fellow subsidiaries.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2018 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

COST OR VALUATION

At 1 July 2018

2,382,861

3,057

2,385,918

Revaluations

2,617,139

-

2,617,139

At 30 June 2019

5,000,000

3,057

5,003,057

DEPRECIATION

At 1 July 2018

357,416

2,741

360,157

Charge for year

47,657

79

47,736

At 30 June 2019

405,073

2,820

407,893

NET BOOK VALUE

At 30 June 2019

4,594,927

237

4,595,164

At 30 June 2018

2,025,445

316

2,025,761

Cost or valuation at 30 June 2019 is represented by:

Fixtures

Freehold

and

property

fittings

Totals

£

Valuation in 2019

2,617,139

-

2,617,139

Cost

2,382,861

3,057

2,385,918

5,000,000

3,057

5,003,057

5.

DEBTORS

30.6.19

30.6.18

£

Amounts falling due within one year:

Prepayments and accrued income

48,978

20,307

Amounts falling due after more than one year:

Amounts owed by group undertakings

82,144

-

Aggregate amounts

131,122

20,307

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

Trade creditors

56,246

30,926

Tax

26,293

35,354

Social security and other taxes

2,665

1,193

Pension

583

248

VAT

22,483

19,998

Net Wages Control Account

14,653

10,546

Accrued expenses

9,201

11,566

132,124

109,831

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.19

30.6.18

£

Amounts owed to group undertakings

1,716,821

1,753,543

8.

RESERVES

Fair

value

reserve

£

P/L fair value reserves

2,119,882

At 30 June 2019

2,119,882

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ashok Mukundlal Shah (Senior Statutory Auditor)

for and on behalf of Ashfords Partnership LLP (Statutory Auditors)

10.	ULTIMATE CONTROLLING PARTY

The company was controlled throughout the current and previous year by the directors, Mr S S Takhar, Mrs I K

Takhar and Mr P S Takhar by virtue of their ownership of the entire issued share capital of SIP Group Limited, the

parent company.

Cranford Hotel Limited - Accounts to registrar (filleted) - small 18.2

Cranford Hotel Limited - Accounts to registrar (filleted) - small 18.2