Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-05No description of principal activity37falsetruefalse 14572113 2023-01-04 14572113 2023-01-05 2023-12-31 14572113 2022-01-05 2023-01-04 14572113 2023-12-31 14572113 c:Director1 2023-01-05 2023-12-31 14572113 d:Buildings 2023-01-05 2023-12-31 14572113 d:Buildings 2023-12-31 14572113 d:Buildings d:OwnedOrFreeholdAssets 2023-01-05 2023-12-31 14572113 d:CurrentFinancialInstruments 2023-12-31 14572113 d:Non-currentFinancialInstruments 2023-12-31 14572113 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14572113 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 14572113 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 14572113 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 14572113 d:ShareCapital 2023-01-05 2023-12-31 14572113 d:ShareCapital 2023-12-31 14572113 d:RetainedEarningsAccumulatedLosses 2023-01-05 2023-12-31 14572113 d:RetainedEarningsAccumulatedLosses 2023-12-31 14572113 c:OrdinaryShareClass1 2023-01-05 2023-12-31 14572113 c:OrdinaryShareClass1 2023-12-31 14572113 c:FRS102 2023-01-05 2023-12-31 14572113 c:Audited 2023-01-05 2023-12-31 14572113 c:FullAccounts 2023-01-05 2023-12-31 14572113 c:PrivateLimitedCompanyLtd 2023-01-05 2023-12-31 14572113 c:SmallCompaniesRegimeForAccounts 2023-01-05 2023-12-31 14572113 2 2023-01-05 2023-12-31 14572113 e:PoundSterling 2023-01-05 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 14572113









KE HOTELS (LUTON) LTD (FORMERLY KE HOTELS (EPSOM) LTD)









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
KE HOTELS (LUTON) LTD (FORMERLY KE HOTELS (EPSOM) LTD)
REGISTERED NUMBER: 14572113

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
Note
£

Fixed assets
  

Tangible assets
 4 
12,950,651

  
12,950,651

Current assets
  

Debtors: amounts falling due within one year
 5 
70,259

Cash at bank and in hand
 6 
296,448

  
366,707

Creditors: amounts falling due within one year
 7 
(5,537,925)

Net current liabilities
  
 
 
(5,171,218)

Total assets less current liabilities
  
7,779,433

Creditors: amounts falling due after more than one year
  
(7,878,127)

  

Net liabilities
  
(98,694)


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
(98,794)

  
(98,694)

Page 1

 
KE HOTELS (LUTON) LTD (FORMERLY KE HOTELS (EPSOM) LTD)
REGISTERED NUMBER: 14572113
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 comprehensive income 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 on 16 October 2024.




A Khanna
Director

The notes on pages 4 to 10 form part of these financial statements.
Page 2

 
KE HOTELS (LUTON) LTD (FORMERLY KE HOTELS (EPSOM) LTD)
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Loss for the period
-
(98,794)
(98,794)


Contributions by and distributions to owners

Shares issued during the period
100
-
100


At 31 December 2023
100
(98,794)
(98,694)

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
KE HOTELS (LUTON) LTD (FORMERLY KE HOTELS (EPSOM) LTD)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

KE Hotels (Luton) Ltd is a private company limited by shares. The company is incorporated in England and Wales and its registered office address is Aston House, Cornwall Avenue, London , N3 1LF. 

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 financial statements are prepared in Pounds Sterling, rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes that the Company will be able to continue trading for the foreseeable future. The Company has net liabilities of £98,694 at the balance sheet date. The main form of funding for the Company's operations is through loans from its group totalling £3,543,458 included in current liabilities. The Group has stated that it intends, without creating a contractual obligation, to provide such support as may be necessary to the Company, and confirmed the Group's commitment to provide funds to meet ongoing expenses for at least 12 months from the date of approval of the financial statements. 

The director is therefore satisfied that the going concern basis is appropriate for the preparation of these financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
KE HOTELS (LUTON) LTD (FORMERLY KE HOTELS (EPSOM) LTD)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.7

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.

 
2.8

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, no depreciation until property active in trade.

Depreciation is provided on the following basis:

Freehold buildings
-
2% reducing balance

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.

 
2.9

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.

Page 5

 
KE HOTELS (LUTON) LTD (FORMERLY KE HOTELS (EPSOM) LTD)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

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.

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.

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 6

 
KE HOTELS (LUTON) LTD (FORMERLY KE HOTELS (EPSOM) LTD)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)

Derecognition of financial instruments

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.


Employees

The average monthly number of employees, including directors, during the period was 37.


4.


Tangible fixed assets





Freehold property

£



Cost or valuation


Additions
12,972,271



At 31 December 2023

12,972,271



Depreciation


Charge for the period on owned assets
21,620



At 31 December 2023

21,620



Net book value



At 31 December 2023
12,950,651

Page 7

 
KE HOTELS (LUTON) LTD (FORMERLY KE HOTELS (EPSOM) LTD)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Debtors

2023
£


Other debtors
64,870

Prepayments and accrued income
5,389

70,259



6.


Cash and cash equivalents

2023
£

Cash at bank and in hand
296,448



7.


Creditors: Amounts falling due within one year

2023
£

Bank loan
9,293

Trade creditors
231,013

Amounts owed to group undertakings
3,543,458

Other taxation and social security
54,222

Other creditors
1,618,505

Accruals and deferred income
81,434

5,537,925


The bank loan is secured by a fixed and floating charge over the assets of the company.


8.


Creditors: Amounts falling due after more than one year

2023
£

Bank loan
7,878,127

7,878,127


The bank loan is secured by a fixed and floating charge over the assets of the company.

Page 8

 
KE HOTELS (LUTON) LTD (FORMERLY KE HOTELS (EPSOM) LTD)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

9.


Loans

Analysis of the maturity of loans is given below:




2023
£




Amounts falling due within one year
9,293

Amounts falling due 1-2 years
107,181

Amounts falling due 2-5 years
7,770,946

7,887,420


The bank loan is secured by a fixed and floating charge over the assets of the company.


10.


Share capital

2023
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100


On incorporation, 100 £1 ordinary shares were issued at par.


11.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £1,746. Contributions totalling £1,020 were due to the fund at the balance sheet date and are included in other creditors.


12.


Financial commitments, guarantees and contingent liabilities

The company has provided security over its assets on borrowings by a related entity, which totalled
£9.5m at the year end.





Page 9

 
KE HOTELS (LUTON) LTD (FORMERLY KE HOTELS (EPSOM) LTD)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

13.


Related party transactions

The company has taken advantage of the exemption contained in Section 33 of FRS 102 'Related Party Disclosures' from disclosing transaction with entities which are part of the group, since 100% of the voting rights in the company are controlled within the group.


14.


Controlling party

The ultimate controlling party for the year ended 31 December 2023 was A Khanna, by virtue of his sole shareholding of the ultimate parent company, Khanna Enterprises (Holdings) Limited, a company incorporated in England and Wales. The accounts of the company are included in the consolidated financial statements of Khanna Enterprises (Holdings) Limited, copies of which can be obtained from Companies House.

15.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2023 was unqualified.

The audit report was signed on 16 October 2024 by Engin Zekia BSc FCA (Senior statutory auditor) on behalf of Adler Shine LLP.

 
Page 10