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SUN HOTEL LIMITED
Company statement of changes in equity
For the Year Ended 30 June 2025
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At 1 July 2023 (as previously stated)
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Prior year adjustment - correction of error
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At 1 July 2023 (as restated)
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Comprehensive income for the year
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Surplus on revaluation of freehold property
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Total comprehensive income for the year
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Transfer to/from profit and loss account
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At 1 July 2024 (as previously stated)
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Prior year adjustment - correction of error
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At 1 July 2024 (as restated)
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Comprehensive income for the year
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Surplus on revaluation of freehold property
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Total comprehensive income for the year
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Transfer to/from profit and loss account
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The notes on pages 20 to 47 form part of these financial statements.
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SUN HOTEL LIMITED
Consolidated statement of cash flows
For the Year Ended 30 June 2025
Cash flows from operating activities
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Amortisation of intangible assets
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Depreciation of tangible assets
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Impairments of fixed assets
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(Increase)/decrease in stocks
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Increase/(decrease) in creditors
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Net cash generated from operating activities
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Cash flows from investing activities
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Purchase of tangible fixed assets
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Net cash from investing activities
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Cash flows from financing activities
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Net cash used in financing activities
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Net increase/(decrease) in cash and cash equivalents
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Cash and cash equivalents at beginning of year
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Cash and cash equivalents at the end of year
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Cash and cash equivalents at the end of year comprise:
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The notes on pages 20 to 47 form part of these financial statements.
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SUN HOTEL LIMITED
Consolidated analysis of net debt
For the Year Ended 30 June 2025
The notes on pages 20 to 47 form part of these financial statements.
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
Sun Hotel Limited is a company, limited by shares, registered in England and Wales. The company's registration number is 05064131 and has its registered office address at Units7 & 8C Kingston House Estate, Portsmouth Road Long Ditton, Surbiton, Surrey, KT6 5QG.
The principal activity of the Company is the operation of a hotel and the provision of hospitality services.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Income statement in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated income statement from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102.
Therefore, the Group continues to recognise a merger reserve which arose on a past business combination that was accounted for as a merger in accordance with UK GAAP as applied at that time.
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
2.Accounting policies (continued)
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Group will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
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Operating leases: the Group as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Defined contribution pension plan
The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 Group in independently administered funds.
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
2.Accounting policies (continued)
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Current and deferred taxation
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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 and the Group operate and generate 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;
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.
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.
Exceptional items are transactions that fall within the ordinary activities of the Group but are presented separately due to their size or incidence.
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
2.Accounting policies (continued)
Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated income statement over its useful economic life.
Other intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
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 basis:
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Long-term leasehold property
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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.
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
2.Accounting policies (continued)
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Revaluation of tangible fixed assets
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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.
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Impairment of fixed assets and goodwill
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Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted Group shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Consolidated income statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
2.Accounting policies (continued)
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. Work in progress and finished goods include labour and attributable overheads.
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.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.
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.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Group's Statement of financial position when the Group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
2.Accounting policies (continued)
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Financial instruments (continued)
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Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
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Judgments in applying accounting policies and key sources of estimation uncertainty
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The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported. These estimates and judgments are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
In the opinion of the directors, the items in the financial statements where there are estimates and judgments made include:
Valuation of freehold property and investment property
Freehold property and investment property is stated at fair value based on the valuation performed by an independent professional valuer or at directors valuation. Independent professional valuations are completed with sufficient frequency to provide comfort that they are held at their fair value. The valuation process includes reviewing observable market prices adjusted as necessary for any difference in the future, location or condition of the specific asset. As this data is generally based on historical trends, there is a degree of judgement and uncertainty involved in the property valuation.
Valuation of Goodwill
The Group reassesses the recoverable amount of goodwill at the end of each financial reporting period. An impairment charge is recognised if management determines that the future economic benefits derivable from a Cash-Generating Unit (CGU) are insufficient to support its carrying value.
Lease Commitments
The Group enters into commercial lease agreements as a lessee to obtain the use of property, plant, and equipment. The classification of these arrangements as either operating or finance leases requires management to evaluate the underlying terms and conditions to determine whether the Group retains or acquires the significant risks and rewards of ownership. Accordingly, this assessment dictates whether an asset and a corresponding liability must be recognised on the balance sheet. Management is required to make key judgments regarding initial direct costs incurred at lease inception. The Group considers the economic substance of these transactions over their legal form, evaluating whether such costs represent a right to obtain the lease or constitute prepaid rent. This determination incorporates factors such as prevailing market conditions at inception, contractual rent obligations, specific lease terms and the expected future economic benefits of the incurred costs.
Investment in Subsidiaries
The Parent Company reassesses the recoverable amount of its investments in subsidiaries at the end of each financial reporting period. An impairment charge is recognised if management assessments indicate that the future economic benefits are insufficient to justify the carrying value of the investment.
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
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An analysis of turnover by class of business is as follows:
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All turnover arose within the United Kingdom.
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The operating (loss)/profit is stated after charging:
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Other operating lease rentals
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During the year, the Group obtained the following services from the Company's auditors:
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Fees payable to the Company's auditors for the audit of the consolidated and Parent Company's financial statements
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
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Staff costs, including directors' remuneration, were as follows:
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Cost of defined contribution scheme
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The average monthly number of employees, including the directors, during the year was as follows:
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Group contributions to defined contribution pension schemes
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During the year retirement benefits were accruing to 1 director (2024 - 1) in respect of defined contribution pension schemes.
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Interest payable and similar expenses
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Finance leases and hire purchase contracts
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
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Current tax on profits for the year
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Adjustments in respect of previous periods
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Origination and reversal of timing differences
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Factors affecting tax charge for the year
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The tax assessed for the year is higher than (2024 - higher than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
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Loss on ordinary activities before tax
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Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)
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Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
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Depreciation in excess of capital allowance
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Utilisation of tax losses
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Unrelieved tax losses carried forward
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Under provision in previous year
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Total tax charge for the year
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
11.Taxation (continued)
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Factors that may affect future tax charges
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There were no factors that may affect future tax charges.
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Misc credit balances written back
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Impairment of fixed assets
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During the year, the Company wrote off advances of £1.9 millions (2024: £638,209). The advances were determined to be irrecoverable following an assessment of the likelihood of recovery. Also, the Company reversed unidentified miscellaneous credit balances totaling £59,007 (2024: £157,067) which in the opinion of directors are no longer payable.
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Charge for the year on owned assets
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
13.Intangible assets (continued)
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
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Long-term leasehold property
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Plant and machinery, fixtures, fittings and equipments
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Transfers between classes
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Charge for the year on owned assets
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Included in freehold property is freehold land of £5,096,296 (2024: £5,096,296) which is not subject to depreciation.
No capital commitments were outstanding at the end of the year.
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
14.Tangible fixed assets (continued)
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The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
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Cost or valuation at 30 June 2025 is as follows:
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Land and Buildings are revalued by external valuers, Colliers International Property Consultants Limited, on 14 May 2025 for Warren House Hotels Ltd and on 10 October 2025 for Sun Hotels Ltd on an existing use as an operational entity including trading potential.
If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
14.Tangible fixed assets (continued)
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Long-term leasehold property
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Plant and machinery, fixtures, fittings and equipments
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Charge for the year on owned assets
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The net book value of land and buildings may be further analysed as follows:
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
14.Tangible fixed assets (continued)
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The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
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Land and Buildings are revalued by external valuers, Colliers International Property Consultants Limited, on 10 October 2025 for Sun Hotels Ltd on an existing use as an operational entity including trading potential.
Cost or valuation at 30 June 2025 is as follows:
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
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Other fixed asset investments
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Investments in subsidiary companies
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
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The following were subsidiary undertakings of the Company:
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Units7 & 8C Kingston House Estate, Portsmouth Road Long Ditton, Surbiton, Surrey, KT6 5QG
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Warren House Hotels Limited
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Warren Road, Kington Upon Thames, Surrey, KT2 7HY
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Units7 & 8C Kingston House Estate, Portsmouth Road Long Ditton, Surbiton, Surrey, KT6 5QG
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4you Hospitality Services Limited
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Units7 & 8C Kingston House Estate, Portsmouth Road Long Ditton, Surbiton, Surrey, KT6 5QG
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Warren Road, Kington Upon Thames, Surrey, KT2 7HY
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The aggregate of the share capital and reserves as at 30 June 2025 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
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Aggregate of share capital and reserves
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Warren House Hotels Limited
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4you Hospitality Services Limited
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
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Freehold investment property
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The 2025 valuations were made by the director based on the valuation by Colliers International Property Consultants Limited, chartered surveyors, on 10 October 2025 as per lender's requirement, on an open market value for existing use basis.
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Finished goods and goods for resale
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The difference between purchase price or production cost of stocks and their replacement cost is not material.
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
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Due after more than one year
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Amounts owed by group undertakings
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Amounts owed by companies under common control
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Prepayments and accrued income
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Cash and cash equivalents
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Amounts owed to companies under common control
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Other taxation and social security
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Obligations under finance lease and hire purchase contracts
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Accruals and deferred income
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The bank loans are secured by a first fixed and floating charge over the company's assets together with a legal charge over the company's property. These loans carry interest @7.80% above Bank of England base rate and are repayable in full on maturity. Bank loans have been fully repaid after the year end.
The hire purchase liabilities are secured on the motor vehicles financed under the agreements. These loans are repayable in monthly installments with varying interest rates.
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
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Creditors: Amounts falling due after more than one year
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Net obligations under finance leases and hire purchase contracts
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
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Hire purchase and finance leases
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Minimum lease payments under hire purchase fall due as follows:
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Charged to profit or loss
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
24.Deferred taxation (continued)
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Charged to profit or loss
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Accelerated capital allowances
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Revaluation gain on freehold property
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Deferred tax on losses C/F
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Allotted, called up and fully paid
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3,000,001 (2024 - 3,000,001) Ordinary Shares shares of £1.00 each
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
Revaluation reserve
Revaluation reserve represents surplus on revaluation of the freehold property. This is non-distributable reserve.
Investment property revaluation reserve
Investment property revaluation reserve represents surplus on revaluation of the investment property. This is non-distributable reserve.
Other reserves
Other reserves represents a merger reserve being the difference between the consideration paid and the net assets of a subsidiary acquired under common control that was accounted for by applying the method merger accounting principles.
Profit and loss account
Profit and loss account represents accumulated retained earnings and is a distributable reserve.
Sun TV UK Limited
The comparative figures have been restated to correct the omission of corporation tax provision of £60,881 from the prior period financial statements.
Due to this error, corporation tax liabilities were understated and retained earnings were overstated by £60,881 in prior period financial statements.
Also, various items of assets and liabilities have been regrouped and restated in comparatives for better presentation. However these changes do not have any impact on either net assets or on retained earnings.
Sun Hotel Limited
In the earlier accounting period, the credit card expenses totaling £71,192 were omitted and business rates of £86,942 was overstated. Due to these errors other debtors were overstated by £71,192, current liabilities were overstated by £86,942 and retained earnings were understated by £15,750 in the prior period financial statements.
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As restated
at 30 June
2023
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
The Company has entered into a joint guarantee with group companies. The companies have jointly agreed to guarantee the net bank borrowings of each other. As at 30 June 2025, the net bank borrowing by respective companies at the balance sheet date has been repaid in full from the proceeds of new loan obtained after the year end as summarised below:
∙Portsmouth Town Property Limited: £16,489,707
∙The Warren House Property Limited: £2,297,249
∙Portsmouth Road Apartments Limited: £8,674,010
∙The River Club Property Limited: £3,514,034
The following companies have provided corporate Guarantee for the above facility:
∙The Borrowers and
∙Portsmouth House Property Limited
∙Sun Hotel Limited
∙Warren House Hotels Limited
∙Sun TV UK Limited
∙The River Club Limited (effective from 01 July 2025)
∙Samko Services Limited
∙Asgard Ventures Limited
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £20,495 (2024 - £20,150) .
Contributions totaling £11,289 (2024 - £11,792) were payable to the fund at the balance sheet date and are included in creditors.
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Commitments under operating leases
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At 30 June 2025 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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SUN HOTEL LIMITED
Notes to the financial statements
For the Year Ended 30 June 2025
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Related party transactions
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The group has taken advantage of the exemption available under FRS 102 for "Related Party Disclosures" not to disclose transactions with wholly owned subsidiaries in the group which are eliminated on consolidation.
During the year, the group received advances totaling £570,300 from the director and repaid £662,692 to the director. At balance sheet date, amount owed to the directors was £5,448,843 (2024: £5,541,235) which is included in other creditors. These are unsecured, interest free advances and are repayable on demand.
The group utilises property owned by Maxx Meridian Ltd, a company under common control, for annual rent of £384,000. Also the group utilises another property from a company under common control without paying any rent. Annual rent for such property is estimated to be £98,000.
The director has provided a personal guarantee of £2.2 millions for the bank loan.
During the year, the group charged consultancy fees of £37,200 (2024: £37,200) to companies under common control. Also the group charged management fees of £707,333 (2024: £485,000) to the companies under common control which is included in prepayment and accrued income.
During the year, the group provided as well as received various advances from companies under common control as shown below. These advances are unsecured, interest free and are repayable on demand.
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Amount owed by companies under common
control
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Amount owed to companies under common
control
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Post balance sheet events
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After the year end, the group has been restructured and freehold properties have been transferred across group undertakings. The ultimate ownership and control of the group remained unchanged following the group restructure.
At the reporting date, the freehold property had a carrying value of £38,428,579 as disclosed in note 13 and investment property had a carrying value of 3,500,000 as disclosed in note 15. These properties were transferred at their carrying value and accordingly, no gain or loss arose on the transfer.
After the reporting date, the group has repaid the bank loan in full from the proceeds of new loan.
The ultimate controlling party is considered to be Mr Sampath Kumar Mallaya by virtue of his shareholding in the ultimate parent company.
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SUN HOTEL LIMITED
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