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Registered number: 01939154










BEST WESTERN INTERNATIONAL LIMITED

AUDITED
DIRECTORS' REPORT
 AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED
30 NOVEMBER 2023
 






 



 






 
BEST WESTERN INTERNATIONAL LIMITED
REGISTERED NUMBER:01939154

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
4,005
5,340

Current assets
  

Debtors: amounts falling due within one year
 6 
66,624
104,773

Cash at bank and in hand
  
119,941
68,558

Current liabilities
  
186,565
173,331

Creditors: amounts falling due within one year
 7 
(189,570)
(177,671)

Net current liabilities
  
 
 
(3,005)
 
 
(4,340)

Total assets less current liabilities
  
1,000
1,000

  

Net assets
  
1,000
1,000


Capital and reserves
  

Called up share capital 
 8 
1,000
1,000

Profit and loss account
 9 
-
-

Shareholders' funds
  
1,000
1,000


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 income and retained earnings 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: 




Mr M Straszynski
Director

Date: 15 August 2024

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
BEST WESTERN INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Best Western International Limited is a private company, limited by shares and incorporated in England and Wales, registered number 01939154. The registered office address is 26 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4AE. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of 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 financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.

The following principal accounting policies have been applied:

  
2.2

Compliance with accounting standards

These financial statements have been prepared in accordance with FRS 102. There were no material departures from the standard.

  
2.3

Going concern

The Company manages, promotes and markets the interest of Best Western International, Inc., for which all of its operating expenses are met by the ultimate parent. The Directors have confirmed the Company will continue to receive financial support from its parent and as such has sufficient resources to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of the financial statements. The Directors therefore consider it appropriate to therefore prepare the financial statements on a going concern basis.

  
2.4

Turnover

Turnover comprises the reimbursement of expenses incurred, net of value added tax.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Pensions

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 balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 2

 
BEST WESTERN INTERNATIONAL LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance
Office equipment
-
25%
straight line

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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

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.

Page 3

 
BEST WESTERN INTERNATIONAL LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
 

Page 4

 
BEST WESTERN INTERNATIONAL LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In preparing these financial statements, management is required to make judgements, estimates and assumptions which affect expected reported income, expenses, assets and liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.
Management do not consider the Company to have any key sources of estimation uncertainty.


4.


Employees

The average monthly number of employees, including Directors, during the year was 8 (2022 - 7).

Page 5

 
BEST WESTERN INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 December 2022
30,000
10,059
40,059



At 30 November 2023

30,000
10,059
40,059



Depreciation


At 1 December 2022
24,660
10,059
34,719


Charge for the year on owned assets
1,335
-
1,335



At 30 November 2023

25,995
10,059
36,054



Net book value



At 30 November 2023
4,005
-
4,005



At 30 November 2022
5,340
-
5,340


6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
50,721
45,659

Other debtors
9,641
15,423

Prepayments
6,262
43,691

66,624
104,773


Amounts owed by group undertakings are interest free and repayable on demand.


7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
5,044
2,947

Other taxation and social security
22,279
19,139

Other creditors
4,486
3,646

Accruals and deferred income
157,761
151,939

189,570
177,671


Page 6

 
BEST WESTERN INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 Ordinary shares of £1.00 each
1,000
1,000



9.


Reserves

Profit and loss account

The profit and loss account represents cumulative profits and losses net of dividends and other adjustments.


10.


Commitments under operating leases

At 30 November 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
2,481
2,115


11.


Related party transactions

The Company has taken the exemption under FRS102 section 33.1A not to disclose transactions and balances with other group companies, on the basis that the Company is wholly owned within the Group.


12.


Controlling party

The Company is controlled by Best Western International, Inc., a company incorporated as a non-profit corporation and registered in the USA.
Consolidated financial statements can be obtained from the parent company's registered office address at 6201 N. 24th Parkway, Phoenix, AZ 85016.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 30 November 2023 was unqualified.

The audit report was signed on 19 August 2024 by Mark Nelligan FCA (senior statutory auditor) on behalf of Wellden Turnbull Limited.


Page 7