Registration number:
Newton Hotel Management Limited
for the Period from 11 October 2016 to 31 December 2017
Suite 3, Second Floor
760 Eastern Avenue
Newbury Park
London
IG2 7HU
Newton Hotel Management Limited
Contents
Company Information |
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Accountants' Report |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Newton Hotel Management Limited
Company Information
Directors |
Mr Chidambaram Arumugam Mr Ravi Venkatraman Mr Gkevin Muthu Maran |
Registered office |
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Accountants |
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Page 1 |
Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Newton Hotel Management Limited
for the Period Ended 31 December 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Newton Hotel Management Limited for the period ended 31 December 2017 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.
This report is made solely to the Board of Directors of Newton Hotel Management Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Newton Hotel Management Limited and state those matters that we have agreed to state to the Board of Directors of Newton Hotel Management Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Newton Hotel Management Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Newton Hotel Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Newton Hotel Management Limited. You consider that Newton Hotel Management Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Newton Hotel Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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760 Eastern Avenue
Newbury Park
London
IG2 7HU
Page 2 |
Newton Hotel Management Limited
Statement of Comprehensive Income for the Period from 11 October 2016 to 31 December 2017
Note |
2017 |
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Profit for the period |
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Total comprehensive income for the period |
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Page 3 |
Newton Hotel Management Limited
(Registration number: 10422265)
Balance Sheet as at 31 December 2017
Note |
2017 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current assets |
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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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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial period ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 4 |
Newton Hotel Management Limited
(Registration number: 10422265)
Balance Sheet as at 31 December 2017
Approved and authorised by the
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Mr Chidambaram Arumugam
Director
Page 5 |
Newton Hotel Management Limited
Statement of Changes in Equity for the Period from 11 October 2016 to 31 December 2017
Share capital |
Profit and loss account |
Total |
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Profit for the period |
- |
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Total comprehensive income |
- |
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New share capital subscribed |
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- |
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At 31 December 2017 |
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Page 6 |
Newton Hotel Management Limited
Notes to the Financial Statements for the Period from 11 October 2016 to 31 December 2017
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Improvements to property |
10% on cost |
Furniture, fittings and equipments |
25% on reducing balance |
Plant and machinery |
25% on reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 7 |
Newton Hotel Management Limited
Notes to the Financial Statements for the Period from 11 October 2016 to 31 December 2017
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Page 8 |
Newton Hotel Management Limited
Notes to the Financial Statements for the Period from 11 October 2016 to 31 December 2017
Tangible assets |
Furniture, fittings and equipment |
Other property, plant and equipment |
Total |
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Cost or valuation |
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Additions |
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At 31 December 2017 |
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Depreciation |
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Charge for the |
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At 31 December 2017 |
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Carrying amount |
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At 31 December 2017 |
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Included within the net book value of land and buildings above is £Nil in respect of freehold land and buildings.
Stocks |
2017 |
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Other inventories |
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Debtors |
Note |
2017 |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
Page 9 |
Newton Hotel Management Limited
Notes to the Financial Statements for the Period from 11 October 2016 to 31 December 2017
Note |
2017 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Due after one year |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Related party transactions |
Summary of transactions with associates
At 31st December 2017 the company was owed £75,294 by Verinica Ventures Limited, an associate company under common control.
At 31st December 2017 the company owed £142,443 to Newton Asset Limited. an associate company under common control.
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