Acorah Software Products - Accounts Production 16.2.850 false true 29 February 2024 1 March 2023 false 1 March 2024 28 February 2025 28 February 2025 05031890 Mr Kevin Kelly Mrs Julia Kelly Mr Nial Kelly Mrs Julia Kelly iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05031890 2024-02-29 05031890 2025-02-28 05031890 2024-03-01 2025-02-28 05031890 frs-core:CurrentFinancialInstruments 2025-02-28 05031890 frs-core:Non-currentFinancialInstruments 2025-02-28 05031890 frs-core:ComputerEquipment 2025-02-28 05031890 frs-core:ComputerEquipment 2024-03-01 2025-02-28 05031890 frs-core:ComputerEquipment 2024-02-29 05031890 frs-core:FurnitureFittings 2025-02-28 05031890 frs-core:FurnitureFittings 2024-03-01 2025-02-28 05031890 frs-core:FurnitureFittings 2024-02-29 05031890 frs-core:NetGoodwill 2025-02-28 05031890 frs-core:NetGoodwill 2024-03-01 2025-02-28 05031890 frs-core:NetGoodwill 2024-02-29 05031890 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2025-02-28 05031890 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 05031890 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-02-29 05031890 frs-core:MotorVehicles 2025-02-28 05031890 frs-core:MotorVehicles 2024-03-01 2025-02-28 05031890 frs-core:MotorVehicles 2024-02-29 05031890 frs-core:ShareCapital 2025-02-28 05031890 frs-core:RetainedEarningsAccumulatedLosses 2025-02-28 05031890 frs-bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 05031890 frs-bus:FilletedAccounts 2024-03-01 2025-02-28 05031890 frs-bus:SmallEntities 2024-03-01 2025-02-28 05031890 frs-bus:AuditExempt-NoAccountantsReport 2024-03-01 2025-02-28 05031890 frs-bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 05031890 frs-bus:Director1 2024-03-01 2025-02-28 05031890 frs-bus:Director2 2024-03-01 2025-02-28 05031890 frs-bus:Director3 2024-03-01 2025-02-28 05031890 frs-bus:CompanySecretary1 2024-03-01 2025-02-28 05031890 frs-core:CurrentFinancialInstruments 1 2025-02-28 05031890 frs-core:Non-currentFinancialInstruments 1 2025-02-28 05031890 frs-core:CurrentFinancialInstruments 2 2025-02-28 05031890 frs-core:Non-currentFinancialInstruments 2 2025-02-28 05031890 frs-core:CurrentFinancialInstruments 3 2025-02-28 05031890 frs-countries:EnglandWales 2024-03-01 2025-02-28 05031890 2023-02-28 05031890 2024-02-29 05031890 2023-03-01 2024-02-29 05031890 frs-core:CurrentFinancialInstruments 2024-02-29 05031890 frs-core:Non-currentFinancialInstruments 2024-02-29 05031890 frs-core:ShareCapital 2024-02-29 05031890 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 05031890 frs-core:CurrentFinancialInstruments 1 2024-02-29 05031890 frs-core:Non-currentFinancialInstruments 1 2024-02-29 05031890 frs-core:CurrentFinancialInstruments 2 2024-02-29 05031890 frs-core:Non-currentFinancialInstruments 2 2024-02-29 05031890 frs-core:CurrentFinancialInstruments 3 2024-02-29
Registered number: 05031890
Kelly Hotels Limited
Unaudited Financial Statements
For The Year Ended 28 February 2025
TaxAssist Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05031890
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 385,000 385,000
Tangible Assets 5 1,433,007 1,265,890
1,818,007 1,650,890
CURRENT ASSETS
Debtors 6 (14,451 ) (33,859 )
Cash at bank and in hand 147,177 151,846
132,726 117,987
Creditors: Amounts Falling Due Within One Year 7 (81,876 ) (47,108 )
NET CURRENT ASSETS (LIABILITIES) 50,850 70,879
TOTAL ASSETS LESS CURRENT LIABILITIES 1,868,857 1,721,769
Creditors: Amounts Falling Due After More Than One Year 8 (1,224,128 ) (1,442,880 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (43,020 ) -
NET ASSETS 601,709 278,889
CAPITAL AND RESERVES
Called up share capital 9 500,010 500,010
Profit and Loss Account 101,699 (221,121 )
SHAREHOLDERS' FUNDS 601,709 278,889
Page 1
Page 2
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Nial Kelly
Director
11/04/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Kelly Hotels Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05031890 . The registered office is 198 London Road, North End, Portsmouth, PO2 9JE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not Depreciated
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 25 (2024: 17)
25 17
4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2024 385,000
As at 28 February 2025 385,000
Net Book Value
As at 28 February 2025 385,000
As at 1 March 2024 385,000
5. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost or Valuation
As at 1 March 2024 1,237,922 18,499 54,156 9,622 1,320,199
Additions - - 130 2,579 2,709
Revaluation 172,078 - - - 172,078
As at 28 February 2025 1,410,000 18,499 54,286 12,201 1,494,986
Depreciation
As at 1 March 2024 - 18,236 31,431 4,642 54,309
Provided during the period - 66 5,714 1,890 7,670
As at 28 February 2025 - 18,302 37,145 6,532 61,979
Net Book Value
As at 28 February 2025 1,410,000 197 17,141 5,669 1,433,007
As at 1 March 2024 1,237,922 263 22,725 4,980 1,265,890
6. Debtors
2025 2024
£ £
Due within one year
Deposits & advanced income (20,203 ) (33,859 )
Deferred tax current asset 5,752 -
(14,451 ) (33,859 )
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors (878 ) -
Corporation tax 68,400 36,103
Other taxes and social security 10,937 8,552
Credit card 359 601
Pension control account 2,128 861
CT61 Tax Payable 930 991
81,876 47,108
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Mortgage 23,637 90,230
Business bounce back loan 13,099 23,230
Keiko Kelly 549,412 602,097
HSBC loan 26,949 38,978
Directors loan account 499,412 576,726
Directors loan account (Kevin & Julia Kelly) 111,619 111,619
1,224,128 1,442,880
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 500,010 500,010
10. Reserves
There are undistributable  reserves of £134,811 based on revaluation reserves less deferred tax, due to a revaluation of commercial propetry.
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