REGISTERED NUMBER: 02911860 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

THE NEWHAM 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:

02911860 (England and Wales)

SENIOR STATUTORY AUDITOR:

Ashok Mukundlal Shah

AUDITORS:

Ashfords Partnership LLP

114-116 Goodmayes Road

Ilford

Esex

IG3 9UZ

FIXED ASSETS

Tangible assets

4

3,263,562

3,295,452

CURRENT ASSETS

Debtors

5

3,969,543

3,161,056

Cash at bank and in hand

333,330

236,053

4,302,873

3,397,109

CREDITORS

Amounts falling due within one year

6

419,298

229,225

NET CURRENT ASSETS

3,883,575

3,167,884

TOTAL ASSETS LESS CURRENT LIABILITIES

7,147,137

6,463,336

CREDITORS

Amounts falling due after more than one year

7

(20,000

)

(20,000

)

PROVISIONS FOR LIABILITIES

8

(675,525

)

(675,525

)

NET ASSETS

6,451,612

5,767,811

CAPITAL AND RESERVES

Called up share capital

9

100

100

Fair value reserve

10

2,430,000

2,430,000

Retained earnings

10

4,021,512

3,337,711

SHAREHOLDERS' FUNDS

6,451,612

5,767,811

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 1 September 2025 and were signed on its behalf by:

S Takhar - Director

1.	STATUTORY INFORMATION

The Newham 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.

Land and buildings

-

2% on cost

Plant and machinery etc

-

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 concluded that the company will continue to receive adequate financial assistance from the Directors, Bankers and other creditors and fellow subsidiaries.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST OR VALUATION

At 1 July 2023

3,443,429

149,431

3,592,860

Additions

43,833

2,579

46,412

At 30 June 2024

3,487,262

152,010

3,639,272

DEPRECIATION

At 1 July 2023

179,628

117,780

297,408

Charge for year

69,745

8,557

78,302

At 30 June 2024

249,373

126,337

375,710

NET BOOK VALUE

At 30 June 2024

3,237,889

25,673

3,263,562

At 30 June 2023

3,263,801

31,651

3,295,452

Cost or valuation at 30 June 2024 is represented by:

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

Valuation in 2019

2,430,000

-

2,430,000

Cost

1,057,262

152,010

1,209,272

3,487,262

152,010

3,639,272

5.

DEBTORS

30.6.24

30.6.23

£

£

Amounts falling due within one year:

Trade debtors

148,128

10,672

Other debtors

25,194

26,028

173,322

36,700

Amounts falling due after more than one year:

Amounts owed by group undertakings

3,734,221

3,062,356

Amounts owed by associates

62,000

62,000

3,796,221

3,124,356

Aggregate amounts

3,969,543

3,161,056

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.24

30.6.23

£

£

Trade creditors

61,901

38,686

Taxation and social security

324,702

159,226

Other creditors

32,695

31,313

419,298

229,225

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.24

30.6.23

£

£

Amounts owed to group undertakings

20,000

20,000

8.	PROVISIONS FOR LIABILITIES

30.6.24

30.6.23

£

£

Deferred tax

675,525

675,525

Deferred

tax

£

Balance at 1 July 2023

675,525

Balance at 30 June 2024

675,525

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.24

30.6.23

value:

£

£

100

Ordinary

1

100

100

10.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 July 2023

3,337,711

2,430,000

5,767,711

Profit for the year

683,801

683,801

At 30 June 2024

4,021,512

2,430,000

6,451,512

11.	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

12.	ULTIMATE CONTROLLING PARTY

The company was controlled throughout the current and previous year by the directors, Mr S S Takhar, and Mrs I K Takhar by virtue of their ownership of the majority issued share capital of SIP Group Limited, the parent company.