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REGISTERED NUMBER: 07907980













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

KCI 5 BENTINCK LIMITED

KCI 5 BENTINCK LIMITED (REGISTERED NUMBER: 07907980)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KCI 5 BENTINCK LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: S H Korman
L Korman
B Korman
S Relick





REGISTERED OFFICE: 10 John Street
London
WC1N 2EB





REGISTERED NUMBER: 07907980





ACCOUNTANTS: Oury Clark Chartered Accountants
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

KCI 5 BENTINCK LIMITED (REGISTERED NUMBER: 07907980)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 435,941 122,506

CURRENT ASSETS
Debtors 5 243,942 223,690
Cash at bank 146,366 329,894
390,308 553,584
CREDITORS
Amounts falling due within one year 6 1,156,412 1,092,617
NET CURRENT LIABILITIES (766,104 ) (539,033 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(330,163

)

(416,527

)

PROVISIONS FOR LIABILITIES 18,891 18,368
NET LIABILITIES (349,054 ) (434,895 )

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (349,055 ) (434,896 )
SHAREHOLDERS' FUNDS (349,054 ) (434,895 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 1 October 2024 and were signed on its behalf by:



S Relick - Director


KCI 5 BENTINCK LIMITED (REGISTERED NUMBER: 07907980)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

KCI 5 Bentinck 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 normal place of business is 5 Bentinck Street, London, W1U 2EG.

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.

The company is reliant on the continuing financial support from the shareholders to remain as a going concern, and in making their assessment, the directors have considered the position of the shareholders and its ability to continue to provide this support. After making enquires the directors have a reasonable expectation that the shareholders and company have adequate resources to continue in operational existence and meet its liabilities as they fall due for at least one year and one day from the date of signing of the financial statements. Accordingly they continue to adopt the going concern basis in preparing the financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents income from serviced apartment rentals, excluding value added tax and is recognised on provision of the related service.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - over remaining term of lease
Plant and machinery etc - Straight line over 3 - 7 years

Fixed assets are initially measured at cost.

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.

KCI 5 BENTINCK LIMITED (REGISTERED NUMBER: 07907980)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 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 balance sheet 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 and loss account on a straight line basis over the period of the lease.

Financial instruments
Basic Financial Instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any Other Financial Instruments, as covered by Section 12 of FRS 102.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 79,730 403,305 483,035
Additions - 351,303 351,303
At 31 December 2023 79,730 754,608 834,338
DEPRECIATION
At 1 January 2023 40,862 319,667 360,529
Charge for year 3,986 33,882 37,868
At 31 December 2023 44,848 353,549 398,397
NET BOOK VALUE
At 31 December 2023 34,882 401,059 435,941
At 31 December 2022 38,868 83,638 122,506

5. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 11,263 3,788
Other debtors 111,122 98,345
122,385 102,133

Amounts falling due after more than one year:
Prepayments 121,557 121,557

Aggregate amounts 243,942 223,690

KCI 5 BENTINCK LIMITED (REGISTERED NUMBER: 07907980)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 22,730 42,424
Amounts owed to group undertakings 1,112,548 1,003,400
Taxation and social security - 9,905
Other creditors & accruals 21,134 36,888
1,156,412 1,092,617

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 210,000 210,000
Between one and five years 840,000 840,000
In more than five years 1,006,875 1,216,875
2,056,875 2,266,875

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 Ordinary £1 1 1

9. RELATED PARTY DISCLOSURES

SHK UK Management Limited
Related by common shareholders and directors.

During the year the company received management services of £59,047 (2022: £121,654) from SHK UK Management Limited.

As at the year end KCI 5 Bentinck Limited owed SHK UK Management Limited £211,583 (2022: £182,086).

SHK Inc
Related by common shareholders and directors.

As at the year end KCI 5 Bentinck Limited owed SHK Inc £275,641 (2022: £195,911).

10. ULTIMATE CONTROLLING PARTY

There is no individual ultimate controlling party.