Period from 18 November 2022 to
Registration number:
The Kennard (Bath) Limited
Contents
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
The Kennard (Bath) Limited
Balance Sheet
31 March 2024
Note |
2024 |
|
Fixed assets |
||
Intangible assets |
|
|
Tangible assets |
|
|
|
||
Current assets |
||
Stocks |
|
|
Debtors |
|
|
Cash at bank and in hand |
|
|
|
||
Creditors: Amounts falling due within one year |
( |
|
Net current liabilities |
( |
|
Net liabilities |
( |
|
Capital and reserves |
||
Called up share capital |
|
|
Profit and loss account |
( |
|
Shareholders' deficit |
( |
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 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
......................................... |
Company Registration Number: 14492363
The Kennard (Bath) Limited
Notes to the Unaudited Financial Statements
Period from 18 November 2022 to 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
11 Henrietta Street
Bath
Somerset
BA2 6LL
These financial statements were authorised for issue by the
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 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
• 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
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
The Kennard (Bath) Limited
Notes to the Unaudited Financial Statements
Period from 18 November 2022 to 31 March 2024
Intangible assets |
Goodwill |
Total |
|
Cost or valuation |
||
Additions acquired separately |
|
|
At 31 March 2024 |
|
|
Amortisation |
||
Amortisation charge |
|
|
At 31 March 2024 |
|
|
Carrying amount |
||
At 31 March 2024 |
|
|
Amortisation of goodwill has been recognised in administrative expenses.
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Plant and machinery |
Total |
|
Cost or valuation |
||||
Additions |
|
|
|
|
At 31 March 2024 |
|
|
|
|
Depreciation |
||||
Charge for the period |
|
|
|
|
At 31 March 2024 |
|
|
|
|
Carrying amount |
||||
At 31 March 2024 |
|
|
|
|
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
Stocks |
2024 |
|
Other inventories |
|
Debtors |
2024 |
|
Other debtors |
|
Prepayments |
|
|
Creditors |
Creditors: amounts falling due within one year
2024 |
|
Due within one year |
|
Trade creditors |
|
Amounts due to group undertakings |
|
Social security and other taxes |
|
Other creditors |
|
Accrued expenses |
|
Payments on account |
|
|
Share capital |
Allotted, called up and fully paid shares
2024 |
||
No. |
£ |
|
|
|
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
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 £
The company is a lessee of the property from which it operates, with the lease running to 2038.