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COMPANY REGISTRATION NUMBER: 07057594
Kingston Lodge Hotel Limited
Financial Statements
25 March 2024
Kingston Lodge Hotel Limited
Financial Statements
Year ended 25 March 2024
Contents
Page
Officers and professional advisers
1
Director's report
2
Independent auditor's report to the members
4
Statement of income and retained earnings
7
Statement of financial position
8
Notes to the financial statements
9
Kingston Lodge Hotel Limited
Officers and Professional Advisers
Director
Mr U Ummat
Registered office
Brook Marston Farm Hotel
Dog Lane
Bodymoor Heath
Sutton Coldfield
England
B76 9JD
Company number 07057594
Auditor
Chowdhary & Co
Chartered accountants & statutory auditor
46 Syon Lane
Isleworth
Middlesex
TW7 5NQ
Bankers
Santander UK Plc
P O Box 10102
23 Prescott Street
London
BD1 5AN
Kingston Lodge Hotel Limited
Director's Report
Year ended 25 March 2024
The director presents his report and the financial statements of the company for the year ended 25 March 2024 .
Principal activities
The company is currently non trading.
Director
The director who served the company during the year was as follows:
Mr U Ummat
Director's responsibilities statement
The director is responsible for preparing the director's report 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 he is satisfied that they give a true and fair view of the state of affairs of the company and 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 judgments 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 them to ensure that the financial statements comply with the Companies Act 2006. He 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. Auditor
Each of the persons who is a director at the date of approval of this report confirms that: - so far as they are aware, there is no relevant audit information (as defined by section 418(3) of the Companies Act 2006) of which the company's auditor are unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
The auditor, Chowdhary & Co, were re-appointed under section 487/(2) of the Companies Act 2006.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 14 March 2025 and signed on behalf of the board by:
Mr U Ummat
Director
Registered office:
Brook Marston Farm Hotel
Dog Lane
Bodymoor Heath
Sutton Coldfield
England
B76 9JD
Kingston Lodge Hotel Limited
Independent Auditor's Report to the Members of Kingston Lodge Hotel Limited
Year ended 25 March 2024
Opinion
We have audited the financial statements of Kingston Lodge Hotel Limited (the 'company') for the year ended 25 March 2024 which comprise the statement of income and retained earnings, statement of financial position and the related notes, 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 FRS 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 25 March 2024 and of its loss for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 auditor's 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.
Material uncertainty related to going concern
We draw your attention to note 3 within the financial statements, which indicates that the company's total liabilities exceeded its total assets by £212,911. These events indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern.
Our opinion is not modified in respect of this matter.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The director is responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the director's report has been prepared in accordance with applicable legal requirements.
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 director's report. We have nothing to report in respect of the following matters in relation to which 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; or - the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the director's report and from the requirement to prepare a strategic report.
Responsibilities of the director
As explained more fully in the director's responsibilities statement, 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 is 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.
Auditor's 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 an auditor's report 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: Obtaining an understanding of the legal and regulatory framework applicable to the entity and how the entity is complying with that framework. Assessing the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur. Discussions with management of any unknown or suspected fraud or instances of non-compliance with laws and irregularities. Identifying and testing any unusual journal entries, specifically those impacting revenue or costs classification. The engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. Understanding and evaluating the entity's current activities, and effectiveness of management controls to prevent and detect irregularities. A further description of our responsibilities is located on the Financial Reporting Council's website at: https:www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. 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 an auditor's report 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.
Bhupindar Chowdhary FCA
(Senior Statutory Auditor)
For and on behalf of
Chowdhary & Co
Chartered accountants & statutory auditor
46 Syon Lane
Isleworth
Middlesex
TW7 5NQ
14 March 2025
Kingston Lodge Hotel Limited
Statement of Income and Retained Earnings
Year ended 25 March 2024
2024
2023
Note
£
£
Administrative expenses
( 54,571)
( 787)
--------
----
Operating loss
( 54,571)
( 787)
--------
----
Loss before taxation
( 54,571)
( 787)
Tax on loss
30,547
--------
----
Loss for the financial year and total comprehensive income
( 24,024)
( 787)
--------
----
All the activities of the company are from continuing operations.
Kingston Lodge Hotel Limited
Statement of Financial Position
25 March 2024
2024
2023
Note
£
£
Current assets
Debtors
5
6,257,391
4,840,781
Cash at bank and in hand
88
89
------------
------------
6,257,479
4,840,870
Creditors: amounts falling due within one year
6
( 6,470,390)
( 29,757)
------------
------------
Net current (liabilities)/assets
( 212,911)
4,811,113
---------
------------
Total assets less current liabilities
( 212,911)
4,811,113
Creditors: amounts falling due after more than one year
7
( 5,000,000)
---------
------------
Net liabilities
( 212,911)
( 188,887)
---------
------------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 212,912)
( 188,888)
---------
---------
Shareholders deficit
( 212,911)
( 188,887)
---------
---------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the board of directors and authorised for issue on 14 March 2025 , and are signed on behalf of the board by:
Mr U Ummat
Director
Company registration number: 07057594
Kingston Lodge Hotel Limited
Notes to the Financial Statements
Year ended 25 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Brook Marston Farm Hotel, Dog Lane, Bodymoor Heath, Sutton Coldfield, B76 9JD, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the reporting year end the company has total liabilities amounting to £212,911 (2023: net liabilities of £188,887). The company is reliant on its shareholders, as well as other related parties for funds to support its operations. These parties have pledged continued support for the company for at least 12 months from the date of the approval of these financial statements.
Disclosure exemptions
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The following principal accounting policies have been applied: Financial reporting standard 102-reduced disclosure exemption The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": " The requirements of Section 7 Statements of Cash flows; The exemption is available as Kingston Lodge Hotel Limited is a subsidiary within a group that prepares publicly available consolidated accounts that give a true and fair view. See note 10.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Fully amortised
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Intangible assets
Acquisition cost
£
Cost
At 26 March 2023 and 25 March 2024
120,349
---------
Amortisation
At 26 March 2023 and 25 March 2024
120,349
---------
Carrying amount
At 25 March 2024
---------
At 25 March 2023
---------
5. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
6,257,391
4,742,230
Other debtors
98,551
------------
------------
6,257,391
4,840,781
------------
------------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
4
Trade creditors
5,258
5,258
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,653,727
Corporation tax
9,734
9,734
Social security and other taxes
1,671
14,761
Other creditors
4,800,000
------------
--------
6,470,390
29,757
------------
--------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other long term creditors
5,000,000
----
------------
8. Financial commitments; guarantees and contingent liabilities
The company has entered into a multilateral guarantee with Santander UK plc or the liabilities and obligations of the group company Brook Hotels No. 1 Limited. At 25 March 2024, the amount due to Santander Plc under these guarantees amounted to £2,750,000 (25 March 2023: £2,750,000).
Within these financial statements a liability amounting to £4,800,000 has been recognised as creditor due within more than one year, which was due for payment by June 2024.
Following the Director's meetings with the creditor, the director is of the opinion that the final amount payable is not expected to exceed £4,050,000.
9. Related party transactions
The company has taken advantage of section 33.1A of FRS102 in not disclosing transactions between wholly owned members of a group.
10. Controlling party
The company's ultimate parent company is Brook Hotels Group Limited, a company registered in England and Wales. Brook Hotels Group Limited is controlled by U Ummat by virtue of his majority shareholding. As at the year end, the Company was a subsidiary undertaking of Brook Hotels Group Limited, a company incorporated in England and Wales. The smallest and largest group in which the results of the company are consolidated is that headed by Brook Hotels Group Limited, the consolidated accounts of which may be obtained from: Marston Farm Hotel Dog Lane, Bodymoor Heath, Sutton Coldfield, England, B76 9JD