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Registered number: 06407916
SLEEPERZ NEWCASTLE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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SLEEPERZ NEWCASTLE LIMITED
REGISTERED NUMBER: 06407916
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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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 have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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J Adams
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The notes on pages 2 to 10 form part of these financial statements.
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SLEEPERZ NEWCASTLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Sleeperz Newcastle Limited is a private company, limited by shares, incorporated and registered 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
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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 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:
Notwithstanding net current liabilities of £7,903,010, 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.
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SLEEPERZ NEWCASTLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
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.
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.
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Operating leases: the Company 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.
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SLEEPERZ NEWCASTLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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.
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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 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.
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SLEEPERZ NEWCASTLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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:
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Long-term leasehold property
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over 50 years straight line
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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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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.
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.
Short-term debtors are measured at transaction price, less any impairment.
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SLEEPERZ NEWCASTLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
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.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
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Judgements in applying accounting policies and key sources of estimation uncertainty
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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 £3,800,000 (2024: £3,780,000) 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 £597,047 revaluation loss in Profit & Loss (2024: £877,313 revaluation gain).
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The average monthly number of employees during the year was 25 (2024: 28).
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SLEEPERZ NEWCASTLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Long-term leasehold property
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At 31 December 2025 fixed and floating charges were registered by Western Heritable Limited and Coutts & Company over the Company's leasehold property interests.
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Cost or valuation at 31 December 2025 is as follows:
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Long-term leasehold property
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Revaluation deficit based on a third party valuation provided by Avison Young on a value in use basis at 31 December 2025
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SLEEPERZ NEWCASTLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
If the long-term leasehold property had not been included at valuation it would have been included under the historical cost convention as follows:
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Amounts owed by group undertakings
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Prepayments and accrued income
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Amounts owed by group undertakings are unsecured and interest free.
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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 associates
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Other taxation and social security
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Accruals and deferred income
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Amounts owed to group undertakings are unsecured and interest free.
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SLEEPERZ NEWCASTLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Creditors: amounts falling due after more than one year
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Accruals and deferred income
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Charged to profit or loss
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The deferred tax asset is made up as follows:
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Fixed asset timing difference
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Losses and other deductions
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Commitments under operating leases
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At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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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 2025 (2024: £nil).
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SLEEPERZ NEWCASTLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company's immediate parent undertaking is Sleeperz Limited, which is registered in England and Wales.
The Company's ultimate parent company and 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.
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.
The audit report was signed on 9 September 2026 by David Lyons (Senior Statutory Auditor) on behalf of HaysMac LLP.
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