Company registration number 03762292 (England and Wales)
THE ROYAL PARK HOTEL LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
THE ROYAL PARK HOTEL LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 14
THE ROYAL PARK HOTEL LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
17,261,071
17,508,314
Investment property
6
2,623,706
2,623,706
19,884,777
20,132,020
Current assets
Stocks
7
72,465
67,342
Debtors
8
524,766
706,161
Cash at bank and in hand
250,307
366,122
847,538
1,139,625
Creditors: amounts falling due within one year
9
(491,741)
(672,328)
Net current assets
355,797
467,297
Total assets less current liabilities
20,240,574
20,599,317
Creditors: amounts falling due after more than one year
10
(6,577,663)
(6,995,990)
Provisions for liabilities
Deferred tax liability
12
563,276
414,493
(563,276)
(414,493)
Net assets
13,099,635
13,188,834
Capital and reserves
Called up share capital
13
6,640,000
6,640,000
Revaluation reserve
14
9,122,703
9,360,396
Profit and loss reserves
15
(2,663,068)
(2,811,562)
Total equity
13,099,635
13,188,834

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 17 October 2024 and are signed on its behalf by:
Mr Ravi Birdy
Director
Company registration number 03762292 (England and Wales)
THE ROYAL PARK HOTEL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 April 2022
6,640,000
9,516,897
(2,976,884)
13,180,013
Year ended 31 March 2023:
Profit and total comprehensive income
-
-
8,821
8,821
Transfers
-
(156,501)
156,501
-
Balance at 31 March 2023
6,640,000
9,360,396
(2,811,562)
13,188,834
Year ended 31 March 2024:
Loss
-
-
(8,007)
(8,007)
Other comprehensive income:
Tax relating to other comprehensive income
-
(81,192)
-
0
(81,192)
Total comprehensive income
-
(81,192)
(8,007)
(89,199)
Transfers
-
(156,501)
156,501
-
Balance at 31 March 2024
6,640,000
9,122,703
(2,663,068)
13,099,635
THE ROYAL PARK HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

The Royal Park Hotel Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Westbourne Terrace, Lancaster Gate, London, W2 3UL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Bird Overseas Holdings Limited. These consolidated financial statements are available from its registered office at 3 Westbourne Terrace, Lancaster Gate, London, W2 3UL.

1.2
Going concern

The financial performance of the company is set out in the report of the directors and in the truestatement of profit or loss and the other comprehensive income. The financial position of the company is set out in the statement of financial position.

 

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 

THE ROYAL PARK HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

Turnover represents amounts receivable from room revenue and income from food and beverage, net of VAT.

 

Income from the ownership and operation of hotels is recognised at the point at which the accommodation and related services are provided.

Rental income is recognised in the period it is earned.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
2% per annum, straight line (building elements only)
Plant and machinery
20% per annum, straight line
Fixtures, fittings & equipment
20% per annum, straight line
Computer equipment
20% per annum, straight line
Motor vehicles
20% per annum, straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

THE ROYAL PARK HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks comprise consumables and are stated at their purchase cost.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

THE ROYAL PARK HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

THE ROYAL PARK HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 7 -

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.15
Foreign exchange
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
1.16
Revaluation reserve

Surpluses and deficits arising from the professional valuations of properties are taken direct to the revaluation reserve. Where a diminution in the value of an asset is identified, the defecit is eliminated first against any revaluation reserve in respect of that asset with any excess being charged to the profit and loss account. Surpluses or deficits realised on the disposal of an asset are transferred from the revaluation reserve to the profit and loss account reserve.

1.17

Comparative

Where necessary, comparative figures have been adjusted to conform with changes in presentation in the current year.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Useful economic lives of tangible assets and investment property

Management reviews the useful lives, depreciation methods and residual values of the items of tangible fixed assets and investment property on a regular basis. During the financial year, the directors determined no significant changes in the useful lives and residual values. The carrying amounts of tangible fixed assets and investment property are disclosed in note 9 and 10 respectively.

Valuation of properties

 

Investment properties and revalued freehold properties are valued annually at fair value. Fair value is ascertained through review of a number of factors and information flows, including market knowledge, recent market movements, recent sales of similar properties, historical experience and rent levels and flows of cash for the respective investment property. There is an inevitable degree of judgement involved and value can only be reliably tested ultimately in the market itself. Given the property market knowledge and expertise of the directors valuations are carried out by a mixture of external independent valuers and internal specialists.

THE ROYAL PARK HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Housekeeping
1
1
Food and beverage
13
17
General administration
21
20
Marketing and sales
1
1
Maintenance
1
1
Total
37
40
4
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
110,000
110,000
5
Tangible fixed assets
Land and buildings Freehold
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost or valuation
At 1 April 2023
17,107,510
513,945
2,191,094
228,885
74,450
20,115,884
Additions
-
0
120,380
11,470
18,430
69,500
219,780
Disposals
-
0
-
0
-
0
-
0
(74,450)
(74,450)
At 31 March 2024
17,107,510
634,325
2,202,564
247,315
69,500
20,261,214
Depreciation and impairment
At 1 April 2023
214,338
256,767
1,870,482
191,533
74,450
2,607,570
Depreciation charged in the year
239,505
79,201
120,420
16,314
11,583
467,023
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
(74,450)
(74,450)
At 31 March 2024
453,843
335,968
1,990,902
207,847
11,583
3,000,143
Carrying amount
At 31 March 2024
16,653,667
298,357
211,662
39,468
57,917
17,261,071
At 31 March 2023
16,893,172
257,178
320,612
37,352
-
0
17,508,314
THE ROYAL PARK HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
5
Tangible fixed assets
(Continued)
- 9 -

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

2024
2023
£
£
Fixtures, fittings & equipment
20,768
29,287
Motor vehicles
57,917
-
0
Computer equipment
5,987
8,981
84,672
38,268

Freehold land and buildings (Including other fixed assets) with a carrying amount of £16,653,667 (2023 - £16,893,172) have been pledged to secure borrowings of the company and the group.

The freehold land and buildings (Including plant & machinery) were revalued at fair value effective from 31 January 2022. The valuation was carried out in accordance with the RICS Valuation – Global Standards by Gerald Eve LLP on behalf of HSBC UK Bank plc. The Market Value of the part freehold/part long leasehold interest in the subject premises as a fully fitted and equipped operational hotel having regard to trading potential, as at then is in the sum of £17,800,000.

 

In the director's opinion, the carrying value of the company's properties as at 31 March 2024 is not significantly different from the open market values of the properties as at that date.

If revalued assets were stated on an historical cost basis rather than a fair value basis, the total amounts included would have been as follows:

2024
2023
£
£
Cost
9,649,555
9,649,555
Accumulated depreciation
(1,622,436)
(1,487,155)
Carrying value
8,027,119
8,162,400
6
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
2,623,706

Investment property comprises the Mews house and a Flat. The fair value of the investment property has been arrived at on the basis of a valuation carried out on 13 April 2022 by Gerald Eve LLP, who are not connected with the company.

 

In the director's opinion, the carrying value of the company's properties as at 31 March 2024 is not significantly different from the open market values of those properties as at that date.

THE ROYAL PARK HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 10 -
7
Stocks
2024
2023
£
£
Finished goods and goods for resale
72,465
67,342
8
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
118,468
127,434
Amounts owed by group undertakings
32,312
213,399
Other debtors
310
-
0
Prepayments and accrued income
180,400
72,221
331,490
413,054
Deferred tax asset (note 12)
193,276
293,107
524,766
706,161
9
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Obligations under finance leases
40,634
10,131
Trade creditors
205,392
169,713
Amounts owed to group undertakings
8,878
272,046
Taxation and social security
172,222
152,599
Other creditors
10,612
11,911
Accruals and deferred income
54,003
55,928
491,741
672,328

Amounts due to group undertakings are unsecured, interest free and repayable on demand.

10
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligations under finance leases
24,493
27,734
Other borrowings
11
6,553,170
6,968,256
6,577,663
6,995,990
THE ROYAL PARK HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
10
Creditors: amounts falling due after more than one year
(Continued)
- 11 -

Other borrowings relate to amounts owed to the parent company which bear interest at market rates and are repayable between 4-15 years.

 

Freehold land and buildings with a carrying amount of £16,653,667 (2023 - £16,893,172 ) have been pledged to secure borrowings of the company and the group.

11
Loans and overdrafts
2024
2023
£
£
Loans from group undertakings
6,553,170
6,968,256
Payable after one year
6,553,170
6,968,256

The company obtained an extension of five years on the outstanding bank loans from its bankers and as such no capital repayments are required as per the revised terms until 30 June 2024 and be 0.625% per quarter for the remainder of the term. However if prevailing loan to value (LTV) as at 31 March 2025 is >50% then if required, the remaining quarterly amortisation payments (i.e. from and including 30 June 2025) will be adjusted on a straight line basis to deliver a maximum LTV of 50% on the termination date. Interest is charged at commercial rates.

 

The loans are secured by:

 

First Legal Charge dated 18 September 2013 over Leasehold Property known as Flat 2, 7 Westbourne Terrace, London, W2 3UL

 

First Legal Charge dated 04 November 2011 over Freehold Property known as 23 Conduit Mews, London, W2 3RE.

 

Composite Company Unlimited Multilateral Guarantee dated 25 March 2011 given by

Bird Overseas Holdings Limited, The Royal Park Hotel Limited.

 

Debenture including Fixed Charge over all present freehold and leasehold property; First

Fixed Charge over book and other debts, chattels, goodwill and uncalled capital, both present and future; and First Floating Charge over all assets and undertaking both present and future dated 25 March 2011.

 

Composite Company Unlimited Multilateral Guarantee dated 10 July 2017 given by

Bird Overseas Holdings Limited, Forbury Properties Limited, Forbury Apartments Limited, The Forbury Limited, The Royal Park Hotel Limited and Eiderdown Limited.

 

The loans are subject to monthly repayments and commercial rates of interest.

THE ROYAL PARK HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 12 -
12
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
Assets
Assets
2024
2023
2024
2023
Balances:
£
£
£
£
Accelerated capital allowances
137,442
69,850
-
-
Tax losses
-
-
193,276
293,107
Revaluation of freehold property
218,688
137,497
-
-
Revaluation of investment properties
207,146
207,146
-
-
563,276
414,493
193,276
293,107
2024
Movements in the year:
£
Liability at 1 April 2023
121,386
Charge to profit or loss
167,423
Charge to other comprehensive income
81,191
Liability at 31 March 2024
370,000
13
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,500,000
1,500,000
1,500,000
1,500,000
2024
2023
2024
2023
Preference share capital
Number
Number
£
£
Issued and fully paid
Preference shares of £1 each
5,140,000
5,140,000
5,140,000
5,140,000
Preference shares classified as equity
5,140,000
5,140,000
Total equity share capital
6,640,000
6,640,000
THE ROYAL PARK HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
13
Share capital
(Continued)
- 13 -

The holders of the preference shares have:

 

- the right to redeem and receive an annual cumulative cash dividend is at the company's discretion. The dividend is payable in priority of any other dividend.

 

- the right of winding-up the repayment of capital paid up in priority to the ordinary shares.

 

- the right to receive notice of, but not to attend or vote at general meetings of the company, save in limited circumstances, and

 

- no right to participate in the profits or assets of the company.

14
Revaluation reserve
2024
2023
£
£
At the beginning of the year
9,360,396
9,516,897
Deferred tax on revaluation of tangible assets
(81,192)
-
Transfer to retained earnings
(156,501)
(156,501)
At the end of the year
9,122,703
9,360,396

The revaluation reserve arose on revaluation of freehold land and building (including other fixed assets) and is stated net of deferred tax. The reserve is not distributable.

15
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
(2,811,562)
(2,976,884)
(Loss)/profit for the year
(8,007)
8,821
Transfer from revaluation reserve
156,501
156,501
At the end of the year
(2,663,068)
(2,811,562)

 

16
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Shilpa Chheda
Statutory Auditor:
KLSA LLP
Date of audit report:
17 October 2024
THE ROYAL PARK HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 14 -
17
Financial commitments, guarantees and contingent liabilities

The company has given cross guarantees for the bank facilities of the holding company to the extent of the total loan facilities of the group.

18
Ultimate controlling party

The parent undertaking is Amadeus India Pvt Limited. The ultimate parent undertaking is Bird Group Holdings Trust which holds majority shareholding in Amadeus India Pvt. Limited through its trustee Bird Trustee Services Private Limited. The immediate parent undertaking is Bird Hospitality Services Pvt Limited. All these aforesaid parent undertakings are incorporated/registered in India. In the opinion of the directors, there is no ultimate controlling individual party.

 

The smallest group in which the entity is consolidated is Bird Hospitality Services Pvt Limited. The largest group in which the entity is consolidated is Amadeus India Pvt Limited.

2024-03-312023-04-01false17 October 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityThis audit opinion is unqualifiedMr Ravi BirdyMr Gaurav Bhatiafalsefalse037622922023-04-012024-03-31037622922024-03-31037622922023-03-3103762292core:LandBuildingscore:OwnedOrFreeholdAssets2024-03-3103762292core:PlantMachinery2024-03-3103762292core:FurnitureFittings2024-03-3103762292core:ComputerEquipment2024-03-3103762292core:MotorVehicles2024-03-3103762292core:LandBuildingscore:OwnedOrFreeholdAssets2023-03-3103762292core:PlantMachinery2023-03-3103762292core:FurnitureFittings2023-03-3103762292core:ComputerEquipment2023-03-3103762292core:MotorVehicles2023-03-3103762292core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3103762292core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3103762292core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3103762292core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3103762292core:CurrentFinancialInstruments2024-03-3103762292core:CurrentFinancialInstruments2023-03-3103762292core:Non-currentFinancialInstruments2024-03-3103762292core:Non-currentFinancialInstruments2023-03-3103762292core:ShareCapital2024-03-3103762292core:ShareCapital2023-03-3103762292core:RevaluationReserve2024-03-3103762292core:RevaluationReserve2023-03-3103762292core:RetainedEarningsAccumulatedLosses2024-03-3103762292core:RetainedEarningsAccumulatedLosses2023-03-3103762292core:ShareCapital2022-03-3103762292core:RevaluationReserve2022-03-3103762292core:RetainedEarningsAccumulatedLosses2022-03-3103762292core:RevaluationReserve2023-03-3103762292core:RetainedEarningsAccumulatedLosses2023-03-3103762292bus:Director12023-04-012024-03-3103762292core:RetainedEarningsAccumulatedLosses2022-04-012023-03-31037622922022-04-012023-03-3103762292core:RetainedEarningsAccumulatedLosses2023-04-012024-03-3103762292core:RevaluationReserve2022-04-012023-03-3103762292core:RevaluationReserve2023-04-012024-03-3103762292core:LandBuildingscore:OwnedOrFreeholdAssets2023-04-012024-03-3103762292core:PlantMachinery2023-04-012024-03-3103762292core:FurnitureFittings2023-04-012024-03-3103762292core:ComputerEquipment2023-04-012024-03-3103762292core:MotorVehicles2023-04-012024-03-3103762292core:LandBuildingscore:OwnedOrFreeholdAssets2023-03-3103762292core:PlantMachinery2023-03-3103762292core:FurnitureFittings2023-03-3103762292core:ComputerEquipment2023-03-3103762292core:MotorVehicles2023-03-31037622922023-03-3103762292bus:PrivateLimitedCompanyLtd2023-04-012024-03-3103762292bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3103762292bus:FRS1022023-04-012024-03-3103762292bus:Audited2023-04-012024-03-3103762292bus:Director22023-04-012024-03-3103762292bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP