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REGISTERED NUMBER: 02500803 (England and Wales)















KAYE'S HOTELS LIMITED

STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE PERIOD

1 APRIL 2023 TO 30 DECEMBER 2023






KAYE'S HOTELS LIMITED (REGISTERED NUMBER: 02500803)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 30 DECEMBER 2023










Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Income Statement 8

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 15


KAYE'S HOTELS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2023 TO 30 DECEMBER 2023







DIRECTOR: Ms N Rabani





REGISTERED OFFICE: Waterton Park Hotel
Walton Hall Walton
Wakefield
West Yorkshire
WF2 6PW





REGISTERED NUMBER: 02500803 (England and Wales)





AUDITORS: Xeinadin Audit Limited
Sidings House
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU

KAYE'S HOTELS LIMITED (REGISTERED NUMBER: 02500803)

STRATEGIC REPORT
FOR THE PERIOD 1 APRIL 2023 TO 30 DECEMBER 2023


The director presents her strategic report for the period 1 April 2023 to 30 December 2023.

REVIEW OF BUSINESS
The main activity of Kaye's Hotels Limited ("the Company") is the operation of its main asset, Waterton Country Park Hotel & Spa, in the United Kingdom.

The strategy of the Company is to operate the hotel profitably whilst maintaining good customer satisfaction ratings and hiring and managing employees effectively.

During the year the Company disposed of its other hotel, Minster Hotel, by way of a hive up.

Key Financial Performance Indicators

Period Ended Year Ended
31/12/23 31/03/23
£ £

Turnover £3,185,987 £5,071,002
Gross Profit £1,466,939 £2,884,635
Gross Profit percentage 46.0% 56.9%
Net Profit (loss) before Tax (£1,559,515) £1,161,207
Net current assets (£263,669) £3,538,934


PRINCIPAL RISKS AND UNCERTAINTIES
The Company is directly exposed to the risks associated with the hotel industry such as any downturn in the general operating conditions in the UK provincial hotel industry and new hotel openings close to its existing location.

The Company is also exposed to risks regarding property valuations in periods of market instability. This instability means that professional valuers and the Director are not able to value properties with the same degree of certainty as would be the case in a more stable market with a good level of transactional evidence to support valuations.

The Company's exposure to credit risk is primarily attributable to its trade debtors. The amounts presented in the balance sheet are net of any allowances for doubtful debts. The Company seeks to mitigate credit risk through credit checking and, where customers pay on departure, Company policy is to obtain a pre-authorised credit card for payment. In certain circumstances customers pay all or part of their stay in advance.

The Company's exposure to liquidity and cash flow risk is mitigated by the trade debtors procedures described above and by negotiating commercial payment terms with suppliers. The Company aims to mitigate liquidity risk by managing cash generation and uses through its operations.

FUTURE DEVELOPMENTS
The director is confident for the future as the company continues to build its brand and reputation.

ON BEHALF OF THE BOARD:





Ms N Rabani - Director


18 March 2025

KAYE'S HOTELS LIMITED (REGISTERED NUMBER: 02500803)

REPORT OF THE DIRECTOR
FOR THE PERIOD 1 APRIL 2023 TO 30 DECEMBER 2023


The director presents her report with the financial statements of the company for the period 1 April 2023 to 30 December 2023.

DIVIDENDS

DIRECTORS
The directors who have held office during the period from 1 April 2023 to the date of this report are as follows:

T S Kaye - resigned 21 July 2023
D L Kaye - resigned 21 July 2023
Ms D S Taylor - resigned 21 July 2023
Ms N Rabani - appointed 21 July 2023

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable her to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and she has taken all the steps that she ought to have taken as a director in order to make herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Ms N Rabani - Director


18 March 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
KAYE'S HOTELS LIMITED


Opinion
We have audited the financial statements of Kaye's Hotels Limited (the 'company') for the period ended 30 December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 December 2023 and of its loss for the period then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
KAYE'S HOTELS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
KAYE'S HOTELS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company, we identified that the principal risks of non-compliance with laws and regulations related to the preparation of statutory accounts and corporation tax legislation and we considered the extent to which non-compliance might have a material effect on the financial statements. As part of this assessment we considered both quantitative and qualitative factors. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, such as the Companies Act 2006 and FRS 102.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements which included the risk of management override of controls. We determined that the principal risks were related to posting inappropriate journal entries, omitting, advancing or delaying recognition of events and transactions that have occurred during or after the reporting period, and potential management bias in the determination of accounting estimates or judgements to manipulate results.

Audit procedures performed by the engagement team include:

- Enquiring of and obtaining written representation from management in relation to known or suspected instances of non-compliance with laws and regulations and fraud;
- Evaluation of management's controls designed to prevent and detect irregularities;
- Identifying and, where relevant, testing journal entries posted by senior management or with unusual combinations;
- Assessing and evaluating the business rationale of significant transactions outside the normal course of business;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- Incorporating elements of unpredictability into the nature, timing and/or extent of audit procedures performed.
- Review of board meeting minutes and meetings of those charged with governance

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
KAYE'S HOTELS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Kelvin Fitton FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited
Sidings House
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU

18 March 2025

KAYE'S HOTELS LIMITED (REGISTERED NUMBER: 02500803)

INCOME STATEMENT
FOR THE PERIOD 1 APRIL 2023 TO 30 DECEMBER 2023

2023 2023 2023
Continuing Discontinued Total
Notes £    £    £   

TURNOVER 3,185,987 - 3,185,987
Cost of sales (1,719,048 ) - (1,719,048 )
GROSS PROFIT 1,466,939 - 1,466,939

Administrative expenses (1,228,678 ) - (1,228,678 )

OPERATING PROFIT 4 238,261 - 238,261

Interest receivable and similar income 22,587 - 22,587
Exceptional items 5 (1,578,234 ) - (1,578,234 )
Interest payable and similar expenses 6 (282,129 ) - (282,129 )
LOSS BEFORE TAXATION (1,599,515 ) - (1,599,515 )
Tax on loss 7 (10,672 ) - (10,672 )
LOSS FOR THE FINANCIAL PERIOD (1,610,187 ) - (1,610,187 )

KAYE'S HOTELS LIMITED (REGISTERED NUMBER: 02500803)

INCOME STATEMENT
FOR THE PERIOD 1 APRIL 2023 TO 30 DECEMBER 2023

2023 2023 2023
Continuing Discontinued Total
Notes £    £    £   

TURNOVER 4,033,947 1,037,055 5,071,002
Cost of sales (1,863,421 ) (322,946 ) (2,186,367 )
GROSS PROFIT 2,170,526 714,109 2,884,635

Administrative expenses (1,497,127 ) (219,065 ) (1,716,192 )
673,399 495,044 1,168,443

Other operating income - 40,851 40,851


OPERATING PROFIT 4 673,399 535,895 1,209,294

Interest receivable and similar income 42,041 - 42,041
Interest payable and similar expenses 6 (90,128 ) - (90,128 )
PROFIT BEFORE TAXATION 625,312 535,895 1,161,207
Tax on profit 7 (139,962 ) 86,334 (53,628 )
PROFIT FOR THE FINANCIAL PERIOD 485,350 622,229 1,107,579

KAYE'S HOTELS LIMITED (REGISTERED NUMBER: 02500803)

OTHER COMPREHENSIVE INCOME
FOR THE PERIOD 1 APRIL 2023 TO 30 DECEMBER 2023

Period
1.4.23
to Year Ended
30.12.23 31.3.23
Notes £    £   

(LOSS)/PROFIT FOR THE PERIOD (1,610,187 ) 1,107,579


OTHER COMPREHENSIVE INCOME
Deferred tax on revaluation
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE PERIOD, NET OF INCOME
TAX


-


-
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD

(1,610,187

)

1,107,579

KAYE'S HOTELS LIMITED (REGISTERED NUMBER: 02500803)

BALANCE SHEET
30 DECEMBER 2023

2023 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 6,102,841 6,171,228

CURRENT ASSETS
Stocks 10 23,126 34,001
Debtors 11 734,037 2,708,514
Cash at bank and in hand 203,308 1,820,290
960,471 4,562,805
CREDITORS
Amounts falling due within one year 12 1,224,140 1,023,871
NET CURRENT (LIABILITIES)/ASSETS (263,669 ) 3,538,934
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,839,172

9,710,162

PROVISIONS FOR LIABILITIES 13 94,879 94,525
NET ASSETS 5,744,293 9,615,637

CAPITAL AND RESERVES
Called up share capital 14 10,200 10,200
Revaluation reserve 15 3,067,318 3,067,318
Retained earnings 15 2,666,775 6,538,119
5,744,293 9,615,637

The financial statements were approved by the director and authorised for issue on 18 March 2025 and were signed by:





Ms N Rabani - Director


KAYE'S HOTELS LIMITED (REGISTERED NUMBER: 02500803)

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 1 APRIL 2023 TO 30 DECEMBER 2023

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 April 2022 10,200 4,130,258 4,367,600 8,508,058

Changes in equity
Profit for the year - 1,107,579 - 1,107,579
Total comprehensive income - 1,107,579 - 1,107,579
Transfer of reserves - 1,300,282 (1,300,282 ) -
Balance at 31 March 2023 10,200 6,538,119 3,067,318 9,615,637

Changes in equity
Deficit for the period - (1,610,187 ) - (1,610,187 )
Total comprehensive income - (1,610,187 ) - (1,610,187 )
Dividends - (2,261,157 ) - (2,261,157 )
Balance at 30 December 2023 10,200 2,666,775 3,067,318 5,744,293

KAYE'S HOTELS LIMITED (REGISTERED NUMBER: 02500803)

CASH FLOW STATEMENT
FOR THE PERIOD 1 APRIL 2023 TO 30 DECEMBER 2023

Period
1.4.23
to Year Ended
30.12.23 31.3.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (1,748,075 ) 1,051,319
Interest paid (282,129 ) (90,128 )
Tax paid - (254,635 )
Net cash from operating activities (2,030,204 ) 706,556

Cash flows from investing activities
Purchase of tangible fixed assets (112,602 ) (112,215 )
Sale of tangible fixed assets - 3,040,784
Sale of fixed asset investments - 1
Sale of investment property - 1,117,200
Interest received 22,587 42,041
Net cash from investing activities (90,015 ) 4,087,811

Cash flows from financing activities
Intercompany loans 2,637,479 (2,637,479 )
Intercompany loans 151,915 -
Amount withdrawn by directors (25,000 ) (2,165,748 )
Equity dividends paid (2,261,157 ) -
Net cash from financing activities 503,237 (4,803,227 )

Decrease in cash and cash equivalents (1,616,982 ) (8,860 )
Cash and cash equivalents at beginning of
period

2

1,820,290

1,829,150

Cash and cash equivalents at end of
period

2

203,308

1,820,290

KAYE'S HOTELS LIMITED (REGISTERED NUMBER: 02500803)

NOTES TO THE CASH FLOW STATEMENT
FOR THE PERIOD 1 APRIL 2023 TO 30 DECEMBER 2023


1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

Period
1.4.23
to Year Ended
30.12.23 31.3.23
£    £   
(Loss)/profit before taxation (1,599,515 ) 1,161,207
Depreciation charges 180,989 163,564
Finance costs 282,129 90,128
Finance income (22,587 ) (42,041 )
(1,158,984 ) 1,372,858
Decrease/(increase) in stocks 10,875 (518 )
Increase in trade and other debtors (638,002 ) (26,751 )
Increase/(decrease) in trade and other creditors 38,036 (294,270 )
Cash generated from operations (1,748,075 ) 1,051,319

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 30 December 2023
30.12.23 1.4.23
£    £   
Cash and cash equivalents 203,308 1,820,290
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 1,820,290 1,829,150


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 30.12.23
£    £    £   
Net cash
Cash at bank and in hand 1,820,290 (1,616,982 ) 203,308
1,820,290 (1,616,982 ) 203,308
Total 1,820,290 (1,616,982 ) 203,308

KAYE'S HOTELS LIMITED (REGISTERED NUMBER: 02500803)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 30 DECEMBER 2023


1. STATUTORY INFORMATION

Kaye's Hotels Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 33% on reducing balance
Fixtures and fittings - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

KAYE'S HOTELS LIMITED (REGISTERED NUMBER: 02500803)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 30 DECEMBER 2023


3. EMPLOYEES AND DIRECTORS
Period
1.4.23
to Year Ended
30.12.23 31.3.23
£    £   
Wages and salaries 1,278,248 1,783,070

The average number of employees during the period was as follows:
Period
1.4.23
to Year Ended
30.12.23 31.3.23

Management and administration 11 14
Other departments 92 96
103 110

Period
1.4.23
to Year Ended
30.12.23 31.3.23
£    £   
Directors' remuneration 18,503 64,083

4. OPERATING PROFIT

The operating profit is stated after charging:

Period
1.4.23
to Year Ended
30.12.23 31.3.23
£    £   
Hire of plant and machinery 2,351 1,122
Other operating leases 6,448 1,639
Depreciation - owned assets 180,989 163,564
Auditors' remuneration 7,350 8,195

5. EXCEPTIONAL ITEMS
Period
1.4.23
to Year Ended
30.12.23 31.3.23
£    £   
Loans written off 1,578,234 -

A balance of £1,578,234, due from the previous parent undertaking as part of the acquisition process, has been written off during the financial period.

KAYE'S HOTELS LIMITED (REGISTERED NUMBER: 02500803)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 30 DECEMBER 2023


6. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.4.23
to Year Ended
30.12.23 31.3.23
£    £   
Bank loan interest 211,812 -
Other interest payable 70,317 90,128
282,129 90,128

7. TAXATION

Analysis of the tax charge
The tax charge on the loss for the period was as follows:
Period
1.4.23
to Year Ended
30.12.23 31.3.23
£    £   
Current tax:
UK corporation tax 10,318 237,766

Deferred tax 354 (184,138 )
Tax on (loss)/profit 10,672 53,628

Reconciliation of total tax charge included in profit and loss
The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period
1.4.23
to Year Ended
30.12.23 31.3.23
£    £   
(Loss)/profit before tax (1,599,515 ) 1,161,207
(Loss)/profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 19%)

(399,879

)

220,629

Effects of:
Expenses not deductible for tax purposes 394,559 12,280
Depreciation in excess of capital allowances 12,316 4,741
Other short term timing differences 3,676 (184,022 )
Total tax charge 10,672 53,628

Tax effects relating to effects of other comprehensive income

There were no tax effects for the period ended 30 December 2023.


KAYE'S HOTELS LIMITED (REGISTERED NUMBER: 02500803)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 30 DECEMBER 2023


7. TAXATION - continued
2023
Gross Tax Net
£    £    £   
Deferred tax on revaluation

8. DIVIDENDS
Period
1.4.23
to Year Ended
30.12.23 31.3.23
£    £   
shares of each
Interim 2,261,157 -

9. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 April 2023 6,312,302 38,003 1,671,337 8,021,642
Additions 104,140 935 7,527 112,602
At 30 December 2023 6,416,442 38,938 1,678,864 8,134,244
DEPRECIATION
At 1 April 2023 581,702 30,902 1,237,810 1,850,414
Charge for period 49,262 2,573 129,154 180,989
At 30 December 2023 630,964 33,475 1,366,964 2,031,403
NET BOOK VALUE
At 30 December 2023 5,785,478 5,463 311,900 6,102,841
At 31 March 2023 5,730,600 7,101 433,527 6,171,228

10. STOCKS
2023 2023
£    £   
Stocks 23,126 34,001

KAYE'S HOTELS LIMITED (REGISTERED NUMBER: 02500803)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 30 DECEMBER 2023


11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade debtors 64,837 66,362
Amounts owed by group undertakings - 2,637,479
Other debtors 560,157 -
Directors' current accounts 25,000 -
Prepayments 84,043 4,673
734,037 2,708,514

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade creditors 189,510 132,913
Amounts owed to group undertakings 151,915 -
Tax 252,077 241,759
Social security and other taxes 20,161 18,684
Pension 5,684 4,596
VAT 46,656 119,934
Other creditors 65,229 50,576
Accruals and deferred income 492,908 455,409
1,224,140 1,023,871

13. PROVISIONS FOR LIABILITIES
2023 2023
£    £   
Deferred tax 94,879 94,525

Deferred
tax
£   
Balance at 1 April 2023 94,525
Provided during period 354
Balance at 30 December 2023 94,879

KAYE'S HOTELS LIMITED (REGISTERED NUMBER: 02500803)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 30 DECEMBER 2023


14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal Dec-23 Mar-23
Value: £ £
9,900 Ordinary £1 9,900 9,900
74 "A" Ordinary £1 74 74
50 "B" Ordinary £1 50 50
46 "C" Ordinary £1 46 46
30 "D" Ordinary £1 30 30
50 "E" Ordinary £1 50 50
50 "F" Ordinary £1 50 50


Ordinary Shares are irredeemable and have full rights in the company with regards to voting, dividend and capital distribution.

15. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 6,538,119 3,067,318 9,605,437
Deficit for the period (1,610,187 ) (1,610,187 )
Dividends (2,261,157 ) (2,261,157 )
At 30 December 2023 2,666,775 3,067,318 5,734,093

16. DISCONTINUED ACTIVITIES

The trading assets relating to the Minster Hotel were hived up to Kaye's Investments Limited on 1st February 2023. The discontinued activities are noted in the income statement.