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Registered number: 10485074
AAPC LOUNGE SERVICES UK LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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AAPC LOUNGE SERVICES UK LIMITED
COMPANY INFORMATION
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Ecovis Wingrave Yeats LLP
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Chartered Accountants & Statutory Auditors
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3rd Floor, Waverley House
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AAPC LOUNGE SERVICES UK LIMITED
CONTENTS
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Notes to the financial statements
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AAPC LOUNGE SERVICES UK LIMITED
REGISTERED NUMBER: 10485074
BALANCE SHEET
AS AT 31 DECEMBER 2024
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 September 2025.
The notes on pages 2 to 6 form part of these financial statements.
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AAPC LOUNGE SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
AAPC Lounge Services UK Limited is a private company, limited by shares, incorporated in England & Wales, registration number 10485074. The registered office is 55 Baker Street, London, United Kingdom, W1U 7EU.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The Company’s financial statements have been prepared on a going concern basis. In assessing going concern, the Directors have considered the Company’s cash flow requirements for at least 12 months from the date of approval of these financial statements. This assessment takes into account the continued support of a fellow group company, AAPC Limited, which has provided a letter of support confirming its intention to provide financial assistance as required to enable the Company to meet its obligations as they fall due. On this basis, the Directors have a reasonable expectation that the Company will continue to operate as a going concern for the foreseeable future and have therefore prepared the financial statements on that basis.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
The principal activity of the Company in the year under review was that of the operation of a premium lounge at Heathrow Airport for the customers of an airline. The Company acts as an agent for the airline and all costs incurred to run the premium lounge are recharged at cost to the airline in line with the contract in place. The costs which are recharged are offset against the associated reimbursed income and consequently no revenue or costs are shown in these financial statements as they are netted off to zero within revenue. The contract with the airline stipulates that the Company receives a management fee for operating the premium lounge and this is recorded in revenue in line with the activity which is undertaken.
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AAPC LOUNGE SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
Within prepayments and accrued income are costs which have been incurred by the Company to run the premium lounge which have not yet been recharged to the airline which the Company acts as agent for as the associated terms to be recharged have not yet been met. The costs are recharged once the service to which they relate have been delivered.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
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AAPC LOUNGE SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
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Judgements in applying accounting policies and key sources of estimation uncertainty
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Revenue recognition
The contract between the Company and its customer, an airline, stipulates that the Company does not have the responsibility for price setting or inventory risk. All costs incurred by the Company to operate the premium lounge are recharged to the third party airline at cost and an agreed management fee is recognised as revenue. Consequently, the Company is considered to be operating as an agent.
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The average monthly number of employees, including the directors, during the year was as follows:
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AAPC LOUNGE SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Amounts owed to group undertakings are unsecured, non interest bearing and repayable on demand.
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Allotted, called up and fully paid
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1 (2023 - 1) Ordinary share of £1.00
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The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in the independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted £47,721 (2023 - £41,347). Contributions totaling £11,431 (2023 - £8,135) were payable to the fund at the balance sheet date and are included in creditors.
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AAPC LOUNGE SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
During the year, the parent company charged the company management fees for services delivered in 2023 and the impact of this, to increase costs in 2023 by £49,042 and increase liabilities by £49,042. There is also a corresponding tax impact, the 2023 tax charge and liability has been reduced by £11,535.
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Related party transactions
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AAPC Lounge Services UK Limited has taken the exemption under FRS 102, Section 33 Related Party Disclosures paragraph 33.1A, whereby the Company, being a wholly owned subsidiary, is not required to disclose transactions with the immediate an ultimate parent undertaking.
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The immediate parent company is AAPC Properties Pty Limited whose registered office is Level 30, Angel Palace, 123 Pitt Street, Sydney NSW 2000, Australia.
The ultimate parent company is ACCOR SA, a company registered in France, ACCOR SA, is the only company to consolidate these financial statements. Copies of the ACCOR SA consolidated financial statements can be obtained from 82, rue Henri Farman, CS20077, 92445 Issy-Les-Moulineaux, France.
There is no ultimate controlling party.
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 26 September 2025 by Michael Storey (Senior statutory auditor) on behalf of Ecovis Wingrave Yeats LLP.
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