Redbridge Hotel Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05100524 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017

FOR

REDBRIDGE HOTEL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Takhar

Mrs I K Takhar

P S Takhar

SECRETARY:

Mrs I K Takhar

REGISTERED OFFICE:

114-116 Goodmayes Road

Ilford

Essex

IG3 9UZ

REGISTERED NUMBER:

05100524 (England and Wales)

AUDITORS:

Ashfords Partnership LLP

114 - 116 Goodmayes Road

Ilford

Essex

IG3 9UZ

FIXED ASSETS

Intangible assets

4

103,250

118,000

Tangible assets

5

369

434

103,619

118,434

CURRENT ASSETS

Debtors

6

1,353,559

1,218,833

Cash at bank and in hand

38,271

33,875

1,391,830

1,252,708

CREDITORS

Amounts falling due within one year

7

80,020

74,688

NET CURRENT ASSETS

1,311,810

1,178,020

TOTAL ASSETS LESS CURRENT LIABILITIES

1,415,429

1,296,454

CREDITORS

Amounts falling due after more than one year

8

419,670

414,670

NET ASSETS

995,759

881,784

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

995,659

881,684

SHAREHOLDERS' FUNDS

995,759

881,784

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 22 November 2017 and were signed on its behalf by:

P S Takhar - Director

1.	STATUTORY INFORMATION

Redbridge 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty 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.

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.

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 4 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2016

and 30 June 2017

295,000

AMORTISATION

At 1 July 2016

177,000

Amortisation for year

14,750

At 30 June 2017

191,750

NET BOOK VALUE

At 30 June 2017

103,250

At 30 June 2016

118,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 July 2016

and 30 June 2017

8,538

DEPRECIATION

At 1 July 2016

8,104

Charge for year

65

At 30 June 2017

8,169

NET BOOK VALUE

At 30 June 2017

369

At 30 June 2016

434

6.

DEBTORS

30.6.17

30.6.16

£

£

Amounts falling due within one year:

Trade debtors

23,982

53,592

Prepayments and accrued income

12,562

9,518

36,544

63,110

30.6.17

30.6.16

£

£

Amounts falling due after more than one year:

Amounts owed by group undertakings

1,252,015

1,110,723

Amounts owed by associates

65,000

45,000

1,317,015

1,155,723

Aggregate amounts

1,353,559

1,218,833

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade creditors

22,185

9,042

Tax

31,674

42,106

Social security and other taxes

705

54

NEST Pension Liability

50

-

VAT

8,475

13,478

Other creditors

293

293

Net wages control account

4,614

1,917

Accrued expenses

12,024

7,798

80,020

74,688

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.17

30.6.16

£

£

Amounts owed to group undertakings

419,670

414,670

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

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.