Registered number
06430955
KAP Hotels Limited
Report and Accounts
30 June 2023
KAP Hotels Limited
Registered number: 06430955
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 31,146 35,596
Tangible assets 4 6,873 8,046
38,019 43,642
Current assets
Debtors 5 35,329 37,369
Cash at bank and in hand 86,283 120,075
121,612 157,444
Creditors: amounts falling due within one year 6 (41,340) (87,987)
Net current assets 80,272 69,457
Total assets less current liabilities 118,291 113,099
Creditors: amounts falling due after more than one year 7 (13,261) (17,979)
Net assets 105,030 95,120
Capital and reserves
Called up share capital 100 100
Profit and loss account 104,930 95,020
Shareholders' funds 105,030 95,120
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr H Khalil
Director
Approved by the board on 16 January 2024
KAP Hotels Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery 20% on reducing balance
Fixtures, fittings, tools and equipment 20% on reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2022 111,250
At 30 June 2023 111,250
Amortisation
At 1 July 2022 75,654
Provided during the year 4,450
At 30 June 2023 80,104
Net book value
At 30 June 2023 31,146
At 30 June 2022 35,596
Goodwill is being written off in equal annual instalments over its estimated economic life of 25 years.
4 Tangible fixed assets
Leasehold property Plant and machinery etc Total
£ £ £
Cost
At 1 July 2022 18,219 13,626 31,845
At 30 June 2023 18,219 13,626 31,845
Depreciation
At 1 July 2022 12,391 11,408 23,799
Charge for the year 729 444 1,173
At 30 June 2023 13,120 11,852 24,972
Net book value
At 30 June 2023 5,099 1,774 6,873
At 30 June 2022 5,828 2,218 8,046
5 Debtors 2023 2022
£ £
Prepayments 3,025 5,065
Rent deposit paid 32,304 32,304
35,329 37,369
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,488 5,616
Trade creditors 6,557 7,183
Amounts owed to group undertakings - 51,000
Corporation tax 23,892 15,030
VAT liability 5,403 9,158
41,340 87,987
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 13,261 17,979
The bank loan is unsecured and received under the Government's 'Bounce Back Loan' scheme.
8 Related party transactions
Dividends in the sum of £77,000 (2022: £58,000) were declared in favour of JulieAndrew Ltd, the parent company of KAP Hotels Ltd.
9 Controlling party
Mr H Khalil is the ultimate controlling party being the sole shareholder of JulieAndrew Ltd (incorporated in the UK) that holds 100% of the ordinary share capital of KAP Hotels Ltd.
10 Other information
KAP Hotels Limited is a private company limited by shares and incorporated in England. Its registered office is:
104 Turnham Green Terrace
Chiswick
London
England
W4 1QN
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