Silverfin false false 31/01/2024 01/02/2023 31/01/2024 Jolanta Bednarczyk-Palonka 01/02/2024 16/04/2022 Stuart McManus 01/02/2024 Chris William Mclaughlin 05/12/2022 Jean Johannes Nel 14/06/2017 J J Nel 24 October 2024 The principal activity of the Company during the financial year was the operation of a hotel and similar accommodation. 10817284 2024-01-31 10817284 bus:Director1 2024-01-31 10817284 bus:Director2 2024-01-31 10817284 bus:Director3 2024-01-31 10817284 bus:Director4 2024-01-31 10817284 2023-01-31 10817284 core:CurrentFinancialInstruments 2024-01-31 10817284 core:CurrentFinancialInstruments 2023-01-31 10817284 core:Non-currentFinancialInstruments 2024-01-31 10817284 core:Non-currentFinancialInstruments 2023-01-31 10817284 core:ShareCapital 2024-01-31 10817284 core:ShareCapital 2023-01-31 10817284 core:RetainedEarningsAccumulatedLosses 2024-01-31 10817284 core:RetainedEarningsAccumulatedLosses 2023-01-31 10817284 core:Goodwill 2023-01-31 10817284 core:Goodwill 2024-01-31 10817284 core:LandBuildings 2023-01-31 10817284 core:PlantMachinery 2023-01-31 10817284 core:Vehicles 2023-01-31 10817284 core:FurnitureFittings 2023-01-31 10817284 core:OfficeEquipment 2023-01-31 10817284 core:LandBuildings 2024-01-31 10817284 core:PlantMachinery 2024-01-31 10817284 core:Vehicles 2024-01-31 10817284 core:FurnitureFittings 2024-01-31 10817284 core:OfficeEquipment 2024-01-31 10817284 bus:OrdinaryShareClass1 2024-01-31 10817284 2023-02-01 2024-01-31 10817284 bus:FilletedAccounts 2023-02-01 2024-01-31 10817284 bus:SmallEntities 2023-02-01 2024-01-31 10817284 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 10817284 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10817284 bus:Director1 2023-02-01 2024-01-31 10817284 bus:Director2 2023-02-01 2024-01-31 10817284 bus:Director3 2023-02-01 2024-01-31 10817284 bus:Director4 2023-02-01 2024-01-31 10817284 bus:Director5 2023-02-01 2024-01-31 10817284 core:Goodwill core:TopRangeValue 2023-02-01 2024-01-31 10817284 core:LandBuildings core:TopRangeValue 2023-02-01 2024-01-31 10817284 core:PlantMachinery 2023-02-01 2024-01-31 10817284 core:Vehicles 2023-02-01 2024-01-31 10817284 core:FurnitureFittings 2023-02-01 2024-01-31 10817284 core:OfficeEquipment 2023-02-01 2024-01-31 10817284 2022-02-01 2023-01-31 10817284 core:Goodwill 2023-02-01 2024-01-31 10817284 core:LandBuildings 2023-02-01 2024-01-31 10817284 core:LandBuildings 1 2023-02-01 2024-01-31 10817284 core:PlantMachinery 1 2023-02-01 2024-01-31 10817284 core:Vehicles 1 2023-02-01 2024-01-31 10817284 core:FurnitureFittings 1 2023-02-01 2024-01-31 10817284 core:OfficeEquipment 1 2023-02-01 2024-01-31 10817284 1 2023-02-01 2024-01-31 10817284 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 10817284 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10817284 (England and Wales)

KILBIRNIE HOTEL LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

KILBIRNIE HOTEL LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

KILBIRNIE HOTEL LIMITED

BALANCE SHEET

As at 31 January 2024
KILBIRNIE HOTEL LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 72,916 90,416
Tangible assets 4 1,939,036 1,875,338
2,011,952 1,965,754
Current assets
Stocks 5 7,758 5,066
Debtors 6 6,896 11,245
Cash at bank and in hand 32,653 16,066
47,307 32,377
Creditors: amounts falling due within one year 7 ( 161,278) ( 137,721)
Net current liabilities (113,971) (105,344)
Total assets less current liabilities 1,897,981 1,860,410
Creditors: amounts falling due after more than one year 8 ( 1,511,521) ( 1,526,339)
Provision for liabilities ( 84,010) ( 62,188)
Net assets 302,450 271,883
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 302,350 271,783
Total shareholder's funds 302,450 271,883

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Kilbirnie Hotel Limited (registered number: 10817284) were approved and authorised for issue by the Board of Directors on 24 October 2024. They were signed on its behalf by:

J J Nel
Director
KILBIRNIE HOTEL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
KILBIRNIE HOTEL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Kilbirnie Hotel Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Narrowcliff Narrowcliff, Newquay, Cornwall, TR7 2RS, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 100 years straight line
Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 42 37

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 February 2023 175,000 175,000
At 31 January 2024 175,000 175,000
Accumulated amortisation
At 01 February 2023 84,584 84,584
Charge for the financial year 17,500 17,500
At 31 January 2024 102,084 102,084
Net book value
At 31 January 2024 72,916 72,916
At 31 January 2023 90,416 90,416

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 February 2023 1,661,644 184,877 4,000 227,796 30,073 2,108,390
Additions 73,127 52,089 0 21,260 355 146,831
0 0 0 0 0 0
At 31 January 2024 1,734,771 236,966 4,000 249,056 30,428 2,255,221
Accumulated depreciation
At 01 February 2023 79,977 33,223 2,829 98,824 18,199 233,052
Charge for the financial year 17,071 33,918 292 29,411 2,441 83,133
At 31 January 2024 97,048 67,141 3,121 128,235 20,640 316,185
Net book value
At 31 January 2024 1,637,723 169,825 879 120,821 9,788 1,939,036
At 31 January 2023 1,581,667 151,654 1,171 128,972 11,874 1,875,338

5. Stocks

2024 2023
£ £
Stocks 7,758 5,066

6. Debtors

2024 2023
£ £
Other debtors 6,896 11,245

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 53,828 52,000
Trade creditors 18,430 17,313
Taxation and social security 50,900 16,321
Other creditors 38,120 52,087
161,278 137,721

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 782,234 837,134
Other creditors 729,287 689,205
1,511,521 1,526,339

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

10. Related party transactions

Other related party transactions

2024 2023
£ £
Kronen Hotels Loan 729,287 689,205

At the balance sheet date Kilbirnie Hotel Limited owed £729,287 (2023: £689,205) to Kronen Hotel Ltd.

11. Ultimate controlling party

Parent Company:

Kronen Hotels Limited
incorporated in Jersey.