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REGISTERED NUMBER: 02276836 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 October 2024

for

New World Hotels Limited

New World Hotels Limited (Registered number: 02276836)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


New World Hotels Limited

Company Information
for the Year Ended 31 October 2024







DIRECTOR: S Read





REGISTERED OFFICE: 72 Victoria Road
Darlington
Co Durham
DL1 5JG





REGISTERED NUMBER: 02276836 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

New World Hotels Limited (Registered number: 02276836)

Balance Sheet
31 October 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 23,429 19,880
Tangible assets 5 128,492 148,730
151,921 168,610

CURRENT ASSETS
Stocks 6 - 451
Debtors 7 1,610,428 1,023,086
Cash at bank 357,382 994,318
1,967,810 2,017,855
CREDITORS
Amounts falling due within one year 8 (1,087,468 ) (1,401,031 )
NET CURRENT ASSETS 880,342 616,824
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,032,263

785,434

CREDITORS
Amounts falling due after more than one
year

9

(285,855

)

-

PROVISIONS FOR LIABILITIES 10 (12,253 ) (15,772 )
NET ASSETS 734,155 769,662

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 734,055 769,562
SHAREHOLDERS' FUNDS 734,155 769,662

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

New World Hotels Limited (Registered number: 02276836)

Balance Sheet - continued
31 October 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 March 2025 and were signed by:





S Read - Director


New World Hotels Limited (Registered number: 02276836)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

New World Hotels 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.

There were no material departures from that standard.

The principle accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

The accounts are not comparable to the prior period due to a short period.

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 nor transactions with directors conducted at a market rate.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income recognition
Income is recognised when the tour involved has started.

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.

Website Development is being amortised evenly over its estimated useful life of ten years.

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 - 15% - 33% on reducing balance

Tangible fixed assets are recognised at cost less accumulated depreciation.

Stocks
Stocks are valued at the lower of cost and selling price less estimated costs to sell.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.


New World Hotels Limited (Registered number: 02276836)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 16 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Website
Development
£   
COST
At 1 November 2023 36,285
Additions 7,425
At 31 October 2024 43,710
AMORTISATION
At 1 November 2023 16,405
Amortisation for year 3,876
At 31 October 2024 20,281
NET BOOK VALUE
At 31 October 2024 23,429
At 31 October 2023 19,880

New World Hotels Limited (Registered number: 02276836)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 November 2023 137,572 77,587 215,159
Additions - 5,308 5,308
Disposals - (20,904 ) (20,904 )
At 31 October 2024 137,572 61,991 199,563
DEPRECIATION
At 1 November 2023 32,048 34,381 66,429
Charge for year 2,616 7,317 9,933
Eliminated on disposal - (5,291 ) (5,291 )
At 31 October 2024 34,664 36,407 71,071
NET BOOK VALUE
At 31 October 2024 102,908 25,584 128,492
At 31 October 2023 105,524 43,206 148,730

6. STOCKS
2024 2023
£    £   
Stocks - 451

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 748,325 698,612
Other debtors 40,560 118,330
Intercompany Loans 769,815 -
Directors' current accounts - 150,000
Prepayments and accrued income 51,728 56,144
1,610,428 1,023,086

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 95,432 -
Trade creditors 574,606 955,817
Taxation and social security 218,588 209,060
Other creditors 21,185 13,642
Directors' current accounts 13,993 -
Accrued expenditure 26,483 61,411
Receipts in advance 137,181 161,101
1,087,468 1,401,031

New World Hotels Limited (Registered number: 02276836)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 285,855 -

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 12,253 15,772

Deferred
tax
£   
Balance at 1 November 2023 15,772
Credit to Statement of Income and Retained Earnings during year (3,519 )
Accelerated capital allowances
Balance at 31 October 2024 12,253

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 October 2024 and the period ended 31 October 2023:

2024 2023
£    £   
H A Booth
Balance outstanding at start of year 150,000 -
Amounts advanced - 150,000
Amounts repaid (150,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 150,000

No interest has been charged. The amounts due by the director were repaid to the company on 30 November 2023

13. ULTIMATE PARENT COMPANY

On 30 November 2023 the company became a wholly owned subsidiary of Primrose Leisure Group Ltd, company number 15006732, registered office: 72 Victoria Road, Darlington, Co Durham DL1 5JG.