ACCOUNTS - Final Accounts preparation

Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Registered number: 06407916

SLEEPERZ NEWCASTLE LIMITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

SLEEPERZ NEWCASTLE LIMITED

COMPANY INFORMATION

Directors	N Gillis
	W Laxton
	D Myers


Registered number	06407916


Registered office	Unit 4
	The Whitehouse
	9 Belvedere Road
	London
	England
	SE1 8YS


Independent auditors	HaysMac LLP
	10 Queen Street Place
	London
	EC4R 1AG

SLEEPERZ NEWCASTLE LIMITED

CONTENTS

	Page
Directors' Report	1 - 2
Independent Auditors' Report	3 - 6
Statement of Comprehensive Income	7
Statement of Financial Position	8
Notes to the Financial Statements	9 - 16

SLEEPERZ NEWCASTLE LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgements and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Directors

The directors who served during the year were:

N Gillis

W Laxton

D Myers

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Page 1

SLEEPERZ NEWCASTLE LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Post balance sheet events

In September 2024 the Sleeperz group of companies entered into a long-term franchise agreement with another hotel group to rebrand the Sleeperz hotels. The process to rebrand was completed during in the first quarter of 2025. As a result of the franchise agreement entered into by the Company and the subsequent rebranding of the hotel that it operates, it is expected that in future financial periods it will incur the costs of the franchise fee payable to the franchisor and costs associated with the rebranding, which will be offset by expected savings in other areas of expenditure.

Auditors

On 18 November 2024, the Company's auditors changed their name from Haysmacintyre LLP to HaysMac LLP.
The auditors, HaysMac LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

................................................

N Gillis

Director

Date: 29 July 2025

Page 2

SLEEPERZ NEWCASTLE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SLEEPERZ NEWCASTLE LIMITED

Opinion

We have audited the financial statements of Sleeperz Newcastle Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of Comprehensive Income, the Statement of Financial Position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Company's affairs as at 31 December 2024 and of its profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Page 3

SLEEPERZ NEWCASTLE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SLEEPERZ NEWCASTLE LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Directors' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit; or

∙the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.

Page 4

SLEEPERZ NEWCASTLE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SLEEPERZ NEWCASTLE LIMITED (CONTINUED)

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud.
Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to national minimum wage regulations and food hygiene standards, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, income tax, payroll tax and sales tax. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to revenue and management bias in accounting estimates. Audit procedures performed by the engagement team included:

∙inspecting correspondence with regulators and tax authorities;

∙discussions with management including consideration of known or suspected instances of non-compliance with laws and regulations, particularly in respect of minimum wage regulations and food hygiene standards, and fraud;

∙reviewing board minutes and legal expenses for evidence of any breaches of laws and regulations;

∙evaluating management's controls designed to prevent and detect irregularities;

∙reviewing a sample of hotel room bookings straddling the year end to ensure that the income from them has been recognised in the correct financial period;

∙identifying and testing journals, in particular journal entries posted containing key words such as those in
respect of related parties, journal entries in revenue, journal entries with a large value, journal entries with a round sum value and journal entries with unusual account combinations; and,

∙challenging assumptions and judgements made by management in their critical accounting estimates, particular in respect of the valuation of leasehold property.

Page 5

SLEEPERZ NEWCASTLE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SLEEPERZ NEWCASTLE LIMITED (CONTINUED)

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

David Lyons (Senior Statutory Auditor)

for and on behalf of

HaysMac LLP

Statutory Auditors

10 Queen Street Place

London

EC4R 1AG

29 July 2025

Page 6

SLEEPERZ NEWCASTLE LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2024

	2024	2023
	£	£

Turnover	2,145,892	1,986,377
Cost of sales	(1,257,059)	(1,162,450)
Depreciation	(78,618)	(117,803)
Gross profit	810,215	706,124
Administrative expenses	(917,364)	(781,387)
Other operating income	-	6,049
Surplus/(deficit) on revaluation of leasehold property	877,313	(2,712,260)
Operating profit/(loss)	770,164	(2,781,474)
Interest payable and similar expenses	-	(308,772)
Profit/(loss) before tax	770,164	(3,090,246)
Tax on profit/(loss)	42,590	(23,433)
Profit/(loss) for the financial year	812,754	(3,113,679)

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of comprehensive income.

The notes on pages 9 to 16 form part of these financial statements.

Page 7

SLEEPERZ NEWCASTLE LIMITED

REGISTERED NUMBER: 06407916

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	5		3,780,000		2,760,000
Current assets
Stocks		3,945		7,789
Debtors	6	457,498		451,967
Cash at bank and in hand		55,493		205,389
		516,936		665,145
Creditors: amounts falling due within one year	7	(7,530,770)		(7,451,987)
Net current liabilities			(7,013,834)		(6,786,842)
Total assets less current liabilities			(3,233,834)		(4,026,842)
Creditors: amounts falling due after more than one year	8		(714,183)		(733,929)
Net liabilities			(3,948,017)		(4,760,771)

Capital and reserves
Called up share capital	1	1
Profit and loss account	(3,948,018)	(4,760,772)
	(3,948,017)	(4,760,771)

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

N Gillis

Director

Date: 29 July 2025

The notes on pages 9 to 16 form part of these financial statements.

Page 8

SLEEPERZ NEWCASTLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Sleeperz Newcastle Limited is a private company, limited by shares, and incorporated in England and Wales. The Company's registered number is 06407916 and registered office address is Unit 4, The Whitehouse, 9 Belvedere Road, London, England, SE1 8YS.
The principal place of business is 15 Westgate Road, Newcastle-upon-Tyne, NE1 1SE.
The principal activity of the Company is that of a hotelier.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Going concern

Notwithstanding net current liabilities of £7,013,834, the financial statements have been prepared on a going concern basis, without any material uncertainties in respect of going concern identified, which the directors consider to be appropriate for the following reasons.
The directors have prepared cash flow forecasts for a period of at least 12 months from the date of approval of these financial statements which indicate that the Company will have sufficient funds to meet its liabilities as they fall due.
Although these forecasts do not include full repayment of the bank loan held by Sleeperz Hotels Limited, which is currently classified as repayable on demand and secured on the leasehold property of the Company, through productive conversations with Sleeperz Hotels Limited’s bankers regarding the terms of the loan and the willingness and ability of the shareholders to provide ongoing support, the directors are satisfied that it is appropriate to prepare the financial statements on a going concern basis.
The Company signed a franchise agreement with Marriott in 2024. In the first quarter of 2025 the hotel was rebranded to Four Point Flex by Sheraton, which will further improve group trading.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue from accommodation, food and beverages and other ancillary services are recognised on the date of delivery of the service, as this is the date on which the risks and rewards transfer from the Company to the customer.

Page 9

SLEEPERZ NEWCASTLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.3

Revenue (continued)

Any amounts received before the end of the reporting period in respect of the provision of accommodation and services after the reporting period are treated accordingly as deferred revenues.

2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 10

SLEEPERZ NEWCASTLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

				Long-term leasehold property	-	over 50 years straight line
				Fixtures and fittings	-	3-5 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
Revaluation gains and losses are recognised in Other Comprehensive Income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment.

Page 11

SLEEPERZ NEWCASTLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.11

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

In the process of applying its accounting policies, the Company is required to make certain estimates, judgements and assumptions that it believes are reasonable based on the information available. These judgements, estimates and assumptions affect the amounts of assets and liabilities at the date of the financial statements and the amounts of revenues and expenses recognised during the reporting periods presented.
On an ongoing basis, the Company evaluates its estimates using historical experience, consultation with experts and other methods considered reasonable in the particular circumstances. Actual results may differ significantly from the estimates, the effect of which is recognised in the period in which the facts that give rise to the revision become known.
Going concern
The directors have used judgement in determining that the Company is a going concern. See note 2.2 for further details.
Revaluation of leasehold property
The Company holds leasehold property, including fixtures and fittings, of £3,780,000 (2023: £2,760,000) which are accounted for under the revaluation model. Valuation of leasehold property is a significant area of estimation. Directors' valuations are based upon the most recent external valuations available by external professional valuers' and directors' expertise and knowledge of current market conditions. The valuation of leasehold property is inherently subjective, as it is based upon valuer assumptions and directors' assessment of market conditions which may prove to be inaccurate. Slight changes in these assumptions could have a material impact on the £877,313 revaluation gain in Profit & Loss (2023: £2,712,260 revaluation loss).

4.	Employees
	The average monthly number of employees during the year was 26 (2023: 28).

Page 12

SLEEPERZ NEWCASTLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.	Tangible fixed assets

	Long-term leasehold property	Fixtures and fittings	Total
	£	£	£
Cost
At 1 January 2024	5,500,000	90,063	5,590,063
Additions	-	221,305	221,305
At 31 December 2024	5,500,000	311,368	5,811,368
Depreciation
At 1 January 2024	2,822,860	7,203	2,830,063
Charge for the year	53,543	25,075	78,618
On revalued assets	(877,313)	-	(877,313)
At 31 December 2024	1,999,090	32,278	2,031,368
Net book value
At 31 December 2024	3,500,910	279,090	3,780,000
At 31 December 2023	2,677,140	82,860	2,760,000

At 31 December 2024 fixed and floating charges were registered by Western Heritable Limited and Coutts & Company over the Company's leasehold property interests.

Cost or valuation at 31 December 2024 is as follows:

		Long-term leasehold property
		£
	At cost:	5,178,698
	At valuation:
	Revaluation deficit based on a third party valuation provided by Avison Young on a value in use basis at 31 December 2024	(1,677,788)
		3,500,910

Page 13

SLEEPERZ NEWCASTLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

If the long-term leasehold property had not been included at valuation it would have been included under the historical cost convention as follows:

	2024	2023
	£	£
Cost	5,178,698	5,178,698
Accumulated depreciation	(412,042)	(312,736)
	4,766,656	4,865,962

Debtors

					2024	2023
					£	£

Trade debtors	543	401
Amounts owed by group undertakings	-	57,088
Other debtors	26,333	29,122
Prepayments	43,130	20,454
Deferred taxation	387,492	344,902
	457,498	451,967

7.	Creditors: amounts falling due within one year
		2024	2023
		£	£

Trade creditors	111,299	12,011
Amounts owed to group undertakings	7,214,142	7,129,614
Other taxation and social security	-	33,067
Other creditors	65,659	58,868
Accruals	139,670	218,427
	7,530,770	7,451,987

8.	Creditors: amounts falling due after more than one year
		2024	2023
		£	£

	Accruals	714,183	733,929

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SLEEPERZ NEWCASTLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9.	Deferred taxation

	2024	2023
	£	£
At beginning of year	344,902	368,335
Charged to profit or loss	42,590	(23,433)
At end of year	387,492	344,902

The deferred tax asset is made up as follows:
	2024	2023
	£	£

Fixed asset timing difference	(52,826)	(18,349)
Losses and other deductions	440,318	363,251
	387,492	344,902

Not later than 1 year	588	2,352
Later than 1 year and not later than 5 years	-	2,352
	588	4,704

In addition to the above commitments, the Company also holds its leasehold property under an operating lease. Under the terms of the lease for the Company's leasehold property, rent is payable at a rate of 5.5% of turnover. As such the Company had no commitment under the lease as at 31 December 2024 (2023: £nil).

11.	Post balance sheet events

Page 15

SLEEPERZ NEWCASTLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

12.	Controlling party

The Company's immediate parent undertaking is Sleeperz Limited, which is registered in England and
Wales.
The Company's ultimate controlling party is Mactaggart Hotel Holdings Limited, which is registered in England and Wales at 2 Babmaes Street, London, SW1Y 6HD.
Mactaggart Hotel Holdings Limited produces consolidated financial statements that can be obtained from Companies House.

Page 16