Harefield Manor Hotel Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09312392 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021

FOR

HAREFIELD MANOR HOTEL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S S Takhar

Mrs I K Takhar

P S Takhar

REGISTERED OFFICE:

114-116 Goodmayes Road

Ilford

Ilford

Essex

IG3 9UZ

REGISTERED NUMBER:

09312392 (England and Wales)

AUDITORS:

Ashfords Partnership LLP

114-116 Goodmayes Road

Ilford

Esex

IG3 9UZ

FIXED ASSETS

Tangible assets

4

2,895,195

2,492,575

CURRENT ASSETS

Debtors

5

1,219,564

1,400,658

Cash at bank and in hand

44,491

5,843

1,264,055

1,406,501

CREDITORS

Amounts falling due within one year

6

185,216

169,833

NET CURRENT ASSETS

1,078,839

1,236,668

TOTAL ASSETS LESS CURRENT LIABILITIES

3,974,034

3,729,243

CREDITORS

Amounts falling due after more than one year

7

(3,273,879

)

(3,033,547

)

PROVISIONS FOR LIABILITIES

(15,199

)

(13,013

)

NET ASSETS

684,956

682,683

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

684,856

682,583

SHAREHOLDERS' FUNDS

684,956

682,683

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 16 June 2022 and were signed on its behalf by:

S S Takhar - Director

1.	STATUTORY INFORMATION

Harefield Manor 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.

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

Improvements to property

-

2% on cost

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

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. The directors have reviewed and considered relevant information in making their assessments. In particular, in response to the COVID-19 pandemic the impact on the business of possible scenario's brought on by the COVID-19 and the measures taken to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the directors have concluded 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 15 (2020 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 July 2020

2,621,867

134,987

7,420

Additions

-

402,374

8,534

At 30 June 2021

2,621,867

537,361

15,954

DEPRECIATION

At 1 July 2020

313,276

7,370

3,854

Charge for year

52,437

10,375

3,025

At 30 June 2021

365,713

17,745

6,879

NET BOOK VALUE

At 30 June 2021

2,256,154

519,616

9,075

At 30 June 2020

2,308,591

127,617

3,566

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 July 2020

111,319

27,929

2,903,522

Additions

74,697

2,451

488,056

At 30 June 2021

186,016

30,380

3,391,578

DEPRECIATION

At 1 July 2020

68,758

17,689

410,947

Charge for year

16,426

3,173

85,436

At 30 June 2021

85,184

20,862

496,383

NET BOOK VALUE

At 30 June 2021

100,832

9,518

2,895,195

At 30 June 2020

42,561

10,240

2,492,575

5.

DEBTORS

30.6.21

30.6.20

£

£

Amounts falling due within one year:

Other debtors

8,515

9,455

30.6.21

30.6.20

£

£

Amounts falling due after more than one year:

Amounts owed by group undertakings

1,066,049

1,246,203

Amounts owed by associates

145,000

145,000

1,211,049

1,391,203

Aggregate amounts

1,219,564

1,400,658

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans and overdrafts

-

9,681

Trade creditors

58,538

15,443

Taxation and social security

96,481

115,344

Other creditors

30,197

29,365

185,216

169,833

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Amounts owed to group undertakings

3,273,879

3,033,547

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.21

30.6.20

value:

£

£

100

Ordinary

1

100

100

9.

RESERVES

Retained

earnings

£

At 1 July 2020

682,583

Profit for the year

2,273

At 30 June 2021

684,856

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

The Report of the Auditors was unqualified.

Ashok M Shah (Senior Statutory Auditor)

for and on behalf of Ashfords Partnership LLP

11.	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.