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REGISTERED NUMBER: 01898776 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

BERKELEY COURT HOTELS LIMITED

BERKELEY COURT HOTELS LIMITED (REGISTERED NUMBER: 01898776)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BERKELEY COURT HOTELS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr M Leventis
Ms R Leventis





REGISTERED OFFICE: 159-161 Sussex Gardens
Paddington
London
W2 2RY





REGISTERED NUMBER: 01898776 (England and Wales)





ACCOUNTANTS: Sander Accountants
869 High Road
London
N12 8QA

BERKELEY COURT HOTELS LIMITED (REGISTERED NUMBER: 01898776)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,689,533 3,751,443
3,689,533 3,751,443

CURRENT ASSETS
Stocks 3,294 3,768
Debtors 6 399,753 309,965
Cash at bank and in hand 402,572 273,965
805,619 587,698
CREDITORS
Amounts falling due within one year 7 1,318,041 1,249,834
NET CURRENT LIABILITIES (512,422 ) (662,136 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,177,111

3,089,307

CREDITORS
Amounts falling due after more than one
year

8

(16,882

)

(795,710

)

PROVISIONS FOR LIABILITIES 11 (290,860 ) (226,900 )
NET ASSETS 2,869,369 2,066,697

CAPITAL AND RESERVES
Called up share capital 500,000 500,000
Non-distributable reserves 843,206 910,666
Retained earnings 1,526,163 656,031
SHAREHOLDERS' FUNDS 2,869,369 2,066,697

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.

BERKELEY COURT HOTELS LIMITED (REGISTERED NUMBER: 01898776)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


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 12 December 2023 and were signed on its behalf by:





Mr M Leventis - Director


BERKELEY COURT HOTELS LIMITED (REGISTERED NUMBER: 01898776)

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

1. STATUTORY INFORMATION

Berkeley Court Hotels 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.

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.

The financial statements have been prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. This is on the basis of the continued support the company receives from its directors and bankers.

Taking this into account the directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.

Turnover
Turnover represents the total invoice value, excluding value added tax, of amounts charged to guests.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Long leasehold - Over the life of the lease
Improvements to property - 2% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

BERKELEY COURT HOTELS LIMITED (REGISTERED NUMBER: 01898776)

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

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2022 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 80,000
AMORTISATION
At 1 April 2022
and 31 March 2023 80,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Improvements
Freehold Long to
property leasehold property
£    £    £   
COST
At 1 April 2022 5,000,000 74,999 92,185
Additions - - -
At 31 March 2023 5,000,000 74,999 92,185
DEPRECIATION
At 1 April 2022 1,396,496 74,999 13,623
Charge for year 50,000 - 1,843
At 31 March 2023 1,446,496 74,999 15,466
NET BOOK VALUE
At 31 March 2023 3,553,504 - 76,719
At 31 March 2022 3,603,504 - 78,562

BERKELEY COURT HOTELS LIMITED (REGISTERED NUMBER: 01898776)

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

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2022 1,117,399 40,682 6,325,265
Additions 9,704 - 9,704
At 31 March 2023 1,127,103 40,682 6,334,969
DEPRECIATION
At 1 April 2022 1,069,268 19,436 2,573,822
Charge for year 14,459 5,312 71,614
At 31 March 2023 1,083,727 24,748 2,645,436
NET BOOK VALUE
At 31 March 2023 43,376 15,934 3,689,533
At 31 March 2022 48,131 21,246 3,751,443

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 26,037 64,608
Other debtors 97,387 89,149
Inter company balance with associate 170,665 -
Directors' current accounts 63,970 64,910
Tax 28,100 58,099
Prepayments and accrued income 13,594 33,199
399,753 309,965

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 228 155,348
Hire purchase contracts (see note 9) 4,915 -
Trade creditors 115,600 104,044
Tax 96,951 662
Social security and other taxes 20,450 9,595
VAT 130,586 34,131
Other creditors 9,730 12,748
Intercompany balance - 348,322
Net wages 3,286 -
Directors' current accounts 898,652 543,433
Deferred income 2,673 436
Accrued expenses 34,970 41,115
1,318,041 1,249,834

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years - 144,723
Bank loans - 2-5 years - 340,107
Bank loans more than 5 years
payable by instalments - 310,880
Hire purchase contracts (see note 9) 16,882 -
16,882 795,710

BERKELEY COURT HOTELS LIMITED (REGISTERED NUMBER: 01898776)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
payable by instalments - 310,880
- 310,880

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 4,915 -
Between one and five years 16,882 -
21,797 -

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 228 951,058

The company bankers have a debenture over the company assets.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 290,860 226,900

Deferred
tax
£   
Balance at 1 April 2022 226,900
Provided during year 63,960
Balance at 31 March 2023 290,860

BERKELEY COURT HOTELS LIMITED (REGISTERED NUMBER: 01898776)

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

12. RELATED PARTY DISCLOSURES

The company has a cross guarantee in favour of NatWest Bank Plc with Kavendish Court Hotels Ltd, a company in which a director has a significant interest.

In "Debtors: Amounts falling due within one year", the company has an outstanding inter company balance with Kavendish Court Hotels Limited, a company in which a director has a significant interest, of £225,665 (2022: £348,322).

Kavendish Court Hotels Limited charged the company £120,000 as rent for the use of properties owned by Kavendish Court Hotels Limited.

A director has an outstanding loan balance in favour of the company of £63,971 (2022: £64,909). Interest of 3.5% is charged on this balance per annum.

A director, is owed an amount of £898,653 (2022: £543,433) by the company.

During the year, properties owned by both the directors were used by the company. No rent was charged by the directors. Had rents been charged, it is estimated that the market value would have been £80,000.

A director is renting property owned by the company. The rent settled by the director to the company during the year was £18,000.

A director charged the company interest on an outstanding loan to the company of £26,174 (2022: £15,828).