LUK Hospitalities Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 10869981 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

LUK Hospitalities Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

101,171

141,633

Tangible assets

5

4,964,653

4,620,310

5,065,824

4,761,943

CURRENT ASSETS

Stocks

6

6,065

12,464

Debtors

7

15,342

30,513

Cash at bank and in hand

8

1,171,402

1,326,551

1,192,809

1,369,528

CREDITORS

Amounts falling due within one year

9

527,044

820,698

NET CURRENT ASSETS

665,765

548,830

TOTAL ASSETS LESS CURRENT LIABILITIES

5,731,589

5,310,773

CREDITORS

Amounts falling due after more than one year

10

(26,854

)

(32,483

)

PROVISIONS FOR LIABILITIES

11

(231,538

)

(166,018

)

NET ASSETS

5,473,197

5,112,272

CAPITAL AND RESERVES

Called up share capital

12

4,636,000

Retained earnings

13

837,197

476,272

SHAREHOLDERS' FUNDS

5,473,197

5,112,272

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 August 2025 and were signed on its behalf by:

N Chatterjee - Director

1.	STATUTORY INFORMATION

LUK Hospitalities Limited is a private company, limited by shares, registered in England and Wales is engaged into carrying on the business of running hotels and other related services. The company's registered number is 10869981 and registered office address is 77 Holyhead Road, Birmingham, England, B21 0LG.

The financial statements are presented in sterling which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents amounts receivable for accommodation, food and beverage and other ancillary hotel services provided, excluding discounts, rebates, value added tax and other taxes.

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be measured reliably. Deposits which have been received on or before reporting date for which services have not yet been provided are included in creditors as deferred revenue.

Hotel revenue, including rental of rooms and food and beverages sales, is recognised when room is occupied and food and beverages is sold.

Intangible assets

Goodwill

Goodwill being the amount paid in connection with the acquisition of a business in the hospitality industry is capitalized and classified as an asset on the Balance sheet and amortized on a straight-line basis over its useful life. The Period chosen for amortizing Goodwill is 10 years. Provision is made for impairment, if any.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at following annual rates in order to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life.

Long leasehold - Equal instalments over lease period

Equipment and machinery - life up to 15 years.

Furniture and fixtures - life up to 10 years

Government grants

Government grants are recognized at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received. Compensation for costs already incurred or for immediate financial support, with no future related costs, should be recognized as income in the period it is receivable A grant receivable as compensation for costs already incurred or for immediate financial support, with no future related costs, is recognized as income in the period in which it is receivable.

Inventory

Inventory is valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognized in profit or loss except that a charge attributable to an item of income and expense recognized as other comprehensive income or to an item recognized directly in equity is also recognized 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.

Deferred tax balances are recognized in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:

-The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

-Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met

Deferred tax balances are not recognized in respect of permanent differences except in respect of business

combinations, when deferred tax is recognized on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Operating leases: the company as lessee

Rentals paid under operating leases are charged to the Profit and Loss Account on a straight-line basis over the lease term.

Pension costs

The company operates a defined contribution plan for the benefit of its employees. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the ' future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash at bank and cash in hand

Cash at Bank and Cash in hand comprise cash balances and call deposits.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognized in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Provisions

Provisions are recognized when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Loans and borrowings

Loans and borrowings are initially recognized at the transaction price including transaction costs. Subsequently, they are measured at amortized cost using the effective interest rate method.

Current and non-current

The company classifies assets as the current assets wherever it expects to realize the asset or intends to sell or consume it in its normal operating cycle or within twelve months after the reporting period. All other assets are classified as non-current assets. The company disclose the amount due after more than one year in the notes to the financial statements and disclosure on the face of the balance sheet is not required.

The company classifies liabilities as the current liabilities wherever it expects to settle the liabilities in its normal operating cycle or within twelve months after the reporting period or does not have an unconditional right to defer the settlement of the liabilities for at least twelve months after the reporting period. All other liabilities are classified as non-current liabilities.

Interest expenses and interest income

Interest income is recognized using the effective interest method.

Interest expense and similar charges are expensed in the profit and loss statement on the period in which they are incurred, except to the extent that they are capitalized as being attributable to the acquisition, construction or production of an asset which necessarily takes a substantial period of time to be prepared for its intended use or sale. The interest component of finance lease payments is recognized in the profit and loss statement using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2024 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

687,808

AMORTISATION

At 1 April 2024

546,175

Amortisation for year

40,462

At 31 March 2025

586,637

NET BOOK VALUE

At 31 March 2025

101,171

At 31 March 2024

141,633

5.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Long

Plant and

and

improvements

leasehold

machinery

fittings

Totals

£

COST

At 1 April 2024

55,276

4,636,675

208,232

263,915

5,164,098

Additions

210,023

-

196,491

74,825

481,339

At 31 March 2025

265,299

4,636,675

404,723

338,740

5,645,437

DEPRECIATION

At 1 April 2024

5,966

293,853

116,101

127,868

543,788

Charge for year

23,571

46,611

37,609

29,205

136,996

At 31 March 2025

29,537

340,464

153,710

157,073

680,784

NET BOOK VALUE

At 31 March 2025

235,762

4,296,211

251,013

181,667

4,964,653

At 31 March 2024

49,310

4,342,822

92,131

136,047

4,620,310

6.

STOCKS

31.3.25

31.3.24

£

Inventory

6,065

12,464

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Other debtors

1,096

351

Prepayments and accrued income

14,246

30,162

15,342

30,513

8.	CASH AT BANK AND IN HAND

31.3.25

31.3.24

£

Cash at bank

16,981

107,429

Cash in hand

3,346

13,507

Short-term Deposits with bank*

1,151,075

1,205,615

1,171,402

1,326,551

*Interest bearing short-term deposits are available on demand.

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade creditors

160,727

182,637

Amounts owed to group undertakings

118,035

59,164

Corporate tax

54,160

194,394

Social security and other taxes

14,284

12,631

VAT

40,941

106,906

Other creditors

68,469

128,938

Bank term loan- Current

5,475

42,675

Accruals and Deferred Income

64,953

93,353

527,044

820,698

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

Bank term loan- non-current

26,854

32,483

11.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

Deferred tax Liabilities*

231,538

166,018

231,538

166,018

*Deferred tax liabilities arise from timing differences between the carrying value and tax base of tangible fixed assets.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

4,500,000

Ordinary

£ 1

4,500,000

136,000

Ordinary

£ 1

136,000

4,636,000

13.

RESERVES

Retained

earnings

£

At 1 April 2024

476,272

Profit for the year

360,925

At 31 March 2025

837,197

14.	AUDITORS' INFORMATION

These financial statements have been prepared for the purpose of filing with Companies house and no statement of comprehensive income is included within this set of financial statements. The full financial statements have been subject to audit and there were no qualifications or modifications to the audit report on the full financial statements. The audit was undertaken by PBG Associates Limited and the Senior Statutory auditor was Mr Dipak Patel.

15.	RELATED PARTY DISCLOSURES

The following are transactions and the balance with related parties for the year and as on 31 March 2025 respectively.

Year Ended 31-03-2025

Year Ended 31-03-2024

Profit & Loss statement

(Transactions)

Relationship

Nature

Reven

ue

Expenses/Cost of

sales

Revenue

Expenses/Cost of

sales

N C Hospitalities Ltd

Entity where

relative of

KMP/director has

significant control

Catering cost

-

736,054

-

564,913

Luxmi Tea Co. Pvt Ltd

Parent Company

Interest charges

-

2,800

-

2,800

Neelabha chatterjee

Director

Directorremuner

ation

-

175,177

-

115,841

Basab Majumdar

Director

Directorremuner

ation

-

36,133

-

22,000

Year Ended 31-03-2025

Year Ended 31-03-2024

Balances

Relationship

Receiv

able

Payable

Receivable

Payable

N C Hospitalities Ltd

Entity where

relative of

KMP/director has

significant control

Loan &

Catering Cost

-

(74,490)

-

162,161)

Luxmi Tea Co. Pvt Ltd

Parent Company

Loan taken

-

(55,634)

-

(52,834)

Neelabha Chatterjee

Director

Loan(Reimburse

ment of

expenses)

-

(6,330)

16.	ULTIMATE PARENT COMPANY

The company is a wholly owned subsidiary of Luxmi Tea Company Private Limited, a company incorporated in India. Luxmi Tea Company Private Limited heads the group of companies for which consolidated financial statements including company's position and results are prepared. These consolidated financial statements are not publicly available.

17.	PREVIOUS YEAR FIGURES

The previous year figures have been regrouped/reclassified/rearranged wherever considered necessary to facilitate comparison with current year figures.