The Kennard (Bath) Limited 14492363 false 2022-11-18 2024-03-31 2024-03-31 The principal activity of the company is the operation of the Kennard Hotel in Bath. Digita Accounts Production Advanced 6.30.9574.0 true true 14492363 2022-11-18 2024-03-31 14492363 2024-03-31 14492363 bus:OrdinaryShareClass1 2024-03-31 14492363 core:RetainedEarningsAccumulatedLosses 2024-03-31 14492363 core:ShareCapital 2024-03-31 14492363 core:CurrentFinancialInstruments 2024-03-31 14492363 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14492363 core:Goodwill 2024-03-31 14492363 core:FurnitureFittingsToolsEquipment 2024-03-31 14492363 core:LandBuildings 2024-03-31 14492363 core:OtherPropertyPlantEquipment 2024-03-31 14492363 bus:SmallEntities 2022-11-18 2024-03-31 14492363 bus:AuditExemptWithAccountantsReport 2022-11-18 2024-03-31 14492363 bus:FullAccounts 2022-11-18 2024-03-31 14492363 bus:SmallCompaniesRegimeForAccounts 2022-11-18 2024-03-31 14492363 bus:RegisteredOffice 2022-11-18 2024-03-31 14492363 bus:Director1 2022-11-18 2024-03-31 14492363 bus:OrdinaryShareClass1 2022-11-18 2024-03-31 14492363 bus:PrivateLimitedCompanyLtd 2022-11-18 2024-03-31 14492363 core:Goodwill 2022-11-18 2024-03-31 14492363 core:FurnitureFittings 2022-11-18 2024-03-31 14492363 core:FurnitureFittingsToolsEquipment 2022-11-18 2024-03-31 14492363 core:LandBuildings 2022-11-18 2024-03-31 14492363 core:LeaseholdImprovements 2022-11-18 2024-03-31 14492363 core:OfficeEquipment 2022-11-18 2024-03-31 14492363 core:OtherPropertyPlantEquipment 2022-11-18 2024-03-31 14492363 core:PlantMachinery 2022-11-18 2024-03-31 14492363 1 2022-11-18 2024-03-31 14492363 countries:EnglandWales 2022-11-18 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

The Kennard (Bath) Limited

Annual Report and Unaudited Financial Statements
Period from 18 November 2022 to 31 March 2024

Registration number: 14492363

 

The Kennard (Bath) Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

The Kennard (Bath) Limited

Balance Sheet

31 March 2024

Note

2024
£

Fixed assets

 

Intangible assets

4

133,749

Tangible assets

5

107,338

 

241,087

Current assets

 

Stocks

6

1,159

Debtors

7

8,529

Cash at bank and in hand

 

10,762

 

20,450

Creditors: Amounts falling due within one year

8

(304,048)

Net current liabilities

 

(283,598)

Net liabilities

 

(42,511)

Capital and reserves

 

Called up share capital

9

1

Profit and loss account

(42,512)

Shareholders' deficit

 

(42,511)

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 24 September 2024 and signed on its behalf by:
 

.........................................
J J Bester
Director

Company Registration Number: 14492363

 

The Kennard (Bath) Limited

Notes to the Unaudited Financial Statements

Period from 18 November 2022 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2nd Floor
10 Bridge Street
Bath
Somerset
BA2 4AS

The principal place of business is:
11 Henrietta Street
Bath
Somerset
BA2 6LL

These financial statements were authorised for issue by the Board on 24 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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' and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The preparation of financial statements in compliance with FRS102 requires the use of certain critical accounting estimates, and requires management to exercise judgement in applying the company's accounting policies. Further commentary is provided later in this note.

The functional currency of the company is considered to be pounds sterling because this is the currency of the primary economic environment in which the company operates. Monetary accounts in these financial statements are rounded to the nearest pound.

Disclosure of long or short period

The first period accounts for the company have been prepared for the 13 months to 31 March 2024. The reason for preparing accounts for this period was in order to bring the year end of the company in line with that of its immediate parent, Parade Park Hotel Limited.

 

The Kennard (Bath) Limited

Notes to the Unaudited Financial Statements

Period from 18 November 2022 to 31 March 2024

Going concern

The directors have considered the appropriateness of the application of going concern assertion. In making this assessment management have reviewed future forecasts, as well as support available from the wider group.

On the basis of the above, coupled with shareholder support, management continue to apply the going concern assertion in the preparation of the financial statements.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Accommodation revenue is recognised at the point of the customer staying in the room. Deposits received in advance of customer stays are treated as payments on account and recognised within creditors due within one year.

Food, beverage and other income is recognised at the point of sale.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

4% straight line

Plant and machinery

15% straight line

Fixtures, fittings and equipment

15% straight line

Office equipment

15% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

 

The Kennard (Bath) Limited

Notes to the Unaudited Financial Statements

Period from 18 November 2022 to 31 March 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Inter company loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

Critical judgements and estimation uncertainty

In applying the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 20.

 

The Kennard (Bath) Limited

Notes to the Unaudited Financial Statements

Period from 18 November 2022 to 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

149,999

149,999

At 31 March 2024

149,999

149,999

Amortisation

Amortisation charge

16,250

16,250

At 31 March 2024

16,250

16,250

Carrying amount

At 31 March 2024

133,749

133,749

Amortisation of goodwill has been recognised in administrative expenses.

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

Additions

36,240

86,351

262

122,853

At 31 March 2024

36,240

86,351

262

122,853

Depreciation

Charge for the period

1,570

13,902

43

15,515

At 31 March 2024

1,570

13,902

43

15,515

Carrying amount

At 31 March 2024

34,670

72,449

219

107,338

Included within the net book value of land and buildings above is £34,670 in respect of long leasehold land and buildings.
 

 

The Kennard (Bath) Limited

Notes to the Unaudited Financial Statements

Period from 18 November 2022 to 31 March 2024

6

Stocks

2024
£

Other inventories

1,159

7

Debtors

2024
£

Other debtors

931

Prepayments

7,598

8,529

8

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

22,951

Amounts due to group undertakings

233,999

Social security and other taxes

13,280

Other creditors

18,411

Accrued expenses

7,121

Payments on account

8,286

304,048

9

Share capital

Allotted, called up and fully paid shares

 

2024

 

No.

£

Ordinary shares of £1 each

1

1

     

One ordinary share of £1 was issued on incorporation.

 

The Kennard (Bath) Limited

Notes to the Unaudited Financial Statements

Period from 18 November 2022 to 31 March 2024

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £1,336,000.
The company is a lessee of the property from which it operates, with the lease running to 2038.