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REGISTERED NUMBER: 12475242 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

KAZ HOTELS VAUXHALL LTD

KAZ HOTELS VAUXHALL LTD (REGISTERED NUMBER: 12475242)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KAZ HOTELS VAUXHALL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: K Bhimji
Z Bhimji
H Bhimji
S Jetha





REGISTERED OFFICE: 87 South Lambeth Road
Vauxhall
London
SW8 1RN





REGISTERED NUMBER: 12475242 (England and Wales)





ACCOUNTANTS: Galloways Accounting
Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

KAZ HOTELS VAUXHALL LTD (REGISTERED NUMBER: 12475242)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,584,299 6,539,408

CURRENT ASSETS
Stocks 2,080 -
Debtors 5 36,713 28,541
Cash at bank and in hand 981,635 458,962
1,020,428 487,503
CREDITORS
Amounts falling due within one year 6 1,193,437 1,137,405
NET CURRENT LIABILITIES (173,009 ) (649,902 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,411,290

5,889,506

CREDITORS
Amounts falling due after more than one
year

7

(850,000

)

(850,000

)

PROVISIONS FOR LIABILITIES 8 (21,000 ) (9,852 )
NET ASSETS 5,540,290 5,029,654

CAPITAL AND RESERVES
Called up share capital 1,100 1,100
Share premium 4,665,867 4,665,867
Retained earnings 873,323 362,687
5,540,290 5,029,654

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 26 October 2023 and were signed on its behalf by:




K Bhimji - Director


KAZ HOTELS VAUXHALL LTD (REGISTERED NUMBER: 12475242)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

KAZ Hotels Vauxhall Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The company is financed by loans from a group company. The forecast cash flow of the company support that liabilities can be met as they fall due.

The directors of the company providing finance have committed that the funds currently made available to the company will remain in place for the foreseeable future and that additional funds will be made available if required.

It is on this basis that the directors have concluded that the company is a going concern. As a result, these financial statements are prepared on a going concern basis.

Turnover
Turnover is recognised when satisfying performance obligations of hotel services, and when control is transferred in respect of goods connected to hotel services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Freehold property is carried at revalued amount, being fair value at the date of valuation. Revaluations are performed with sufficient regularity to ensure that the carrying amounts do not differ materially from those that would be determined using fair values at the end of each reporting period. Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the asset and the net amount is restated to the revalued amount of the asset.

Any revaluation increase in the carrying amount of freehold property is recognised in other comprehensive income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss, in which case the increase is credited and loss to the extent of the decrease previously expended. Decreases that offset previous increases of the same asset are charged in other comprehensive income and debited against revaluation reserve in equity; decreases exceeding the balance in revaluation reserve relating to an asset are recognised in profit or loss.

Freehold property is not depreciated as the residual value is deemed to be materially the same as the current valuation.

Improvements to property has been combined with freehold property as part of this initial revaluation. The use of a policy of revaluation provides more relevant and reliable information about the value of the property owned by the company.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


KAZ HOTELS VAUXHALL LTD (REGISTERED NUMBER: 12475242)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
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.

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.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss.

3. EMPLOYEES

The average number of employees during the year was 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 6,500,000 21,545 29,416 - 6,550,961
Additions - - 17,727 48,239 65,966
At 31 March 2023 6,500,000 21,545 47,143 48,239 6,616,927
DEPRECIATION
At 1 April 2022 - 4,885 6,668 - 11,553
Charge for year - 3,333 8,094 9,648 21,075
At 31 March 2023 - 8,218 14,762 9,648 32,628
NET BOOK VALUE
At 31 March 2023 6,500,000 13,327 32,381 38,591 6,584,299
At 31 March 2022 6,500,000 16,660 22,748 - 6,539,408

Freehold property was valued on an open market basis at 31 March 2023 by the directors.

KAZ HOTELS VAUXHALL LTD (REGISTERED NUMBER: 12475242)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,156 24,111
Amounts owed by group undertakings 1,338 -
Other debtors - 1,127
Prepayments and accrued income 34,219 3,303
36,713 28,541

Following a group restructure on 8 November 2022, amounts due from companies under common control at 31 March 2022 that were included in other debtors (£1,127) has no comparative at 31 March 2023. At 31 March 2023, balances with those companies are now shown as amounts due from group undertakings.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 66,687 31,013
Amounts owed to group undertakings 293,970 -
Tax 108,363 90,161
Social security and other taxes 2,782 3,005
VAT 3,132 18,704
Other creditors 26,015 68,124
Directors' current accounts 611,611 663,000
Accruals and deferred income 80,877 263,398
1,193,437 1,137,405

Following a group restructure on 8 November 2022, amounts due to companies under common control at 31 March 2022 that were included in other creditors (£9,202) and other creditors due greater than one year (£850,000) have no comparative at 31 March 2023. At 31 March 2023, balances with those companies are now shown as amounts due to group undertakings.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 850,000 -
Other creditors - 850,000
850,000 850,000

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 21,000 9,852

Deferred
tax
£   
Balance at 1 April 2022 9,852
Provided during year 11,148
Balance at 31 March 2023 21,000