Caseware UK (AP4) 2024.0.164 2024.0.164 2025-09-30 2025-09-30 During the year the company continued to operate as a hotelier from its hotel in Kensington.0 2025-01-01 false 0 false true false 05085498 2025-01-01 2025-09-30 05085498 2024-01-01 2024-12-31 05085498 2025-09-30 05085498 2024-12-31 05085498 2024-01-01 05085498 1 2025-01-01 2025-09-30 05085498 1 2024-01-01 2024-12-31 05085498 2 2025-01-01 2025-09-30 05085498 5 2025-01-01 2025-09-30 05085498 5 2024-01-01 2024-12-31 05085498 d:Director8 2025-01-01 2025-09-30 05085498 e:Buildings 2025-01-01 2025-09-30 05085498 e:Buildings 2025-09-30 05085498 e:Buildings 2024-12-31 05085498 e:Buildings e:OwnedOrFreeholdAssets 2025-01-01 2025-09-30 05085498 e:Buildings e:LongLeaseholdAssets 2025-01-01 2025-09-30 05085498 e:FurnitureFittings 2025-01-01 2025-09-30 05085498 e:FurnitureFittings 2025-09-30 05085498 e:FurnitureFittings 2024-12-31 05085498 e:FurnitureFittings e:OwnedOrFreeholdAssets 2025-01-01 2025-09-30 05085498 e:OwnedOrFreeholdAssets 2025-01-01 2025-09-30 05085498 e:CurrentFinancialInstruments 2025-09-30 05085498 e:CurrentFinancialInstruments 2024-12-31 05085498 e:Non-currentFinancialInstruments 2025-09-30 05085498 e:Non-currentFinancialInstruments 2024-12-31 05085498 e:CurrentFinancialInstruments e:WithinOneYear 2025-09-30 05085498 e:CurrentFinancialInstruments e:WithinOneYear 2024-12-31 05085498 e:Non-currentFinancialInstruments e:AfterOneYear 2025-09-30 05085498 e:Non-currentFinancialInstruments e:AfterOneYear 2024-12-31 05085498 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2025-09-30 05085498 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2024-12-31 05085498 e:ShareCapital 2025-01-01 2025-09-30 05085498 e:ShareCapital 2025-09-30 05085498 e:ShareCapital 2024-01-01 2024-12-31 05085498 e:ShareCapital 2024-12-31 05085498 e:ShareCapital 2024-01-01 05085498 e:RevaluationReserve 2025-01-01 2025-09-30 05085498 e:RevaluationReserve 2025-09-30 05085498 e:RevaluationReserve 1 2025-01-01 2025-09-30 05085498 e:RevaluationReserve 5 2025-01-01 2025-09-30 05085498 e:RevaluationReserve 2024-01-01 2024-12-31 05085498 e:RevaluationReserve 2024-12-31 05085498 e:RevaluationReserve 2024-01-01 05085498 e:RevaluationReserve 5 2024-01-01 2024-12-31 05085498 e:RevaluationReserve 8 2024-01-01 2024-12-31 05085498 e:OtherMiscellaneousReserve 2025-01-01 2025-09-30 05085498 e:OtherMiscellaneousReserve 2025-09-30 05085498 e:OtherMiscellaneousReserve 1 2025-01-01 2025-09-30 05085498 e:OtherMiscellaneousReserve 2 2025-01-01 2025-09-30 05085498 e:OtherMiscellaneousReserve 2024-01-01 2024-12-31 05085498 e:OtherMiscellaneousReserve 2024-12-31 05085498 e:OtherMiscellaneousReserve 2024-01-01 05085498 e:OtherMiscellaneousReserve 1 2024-01-01 2024-12-31 05085498 e:RetainedEarningsAccumulatedLosses 2025-01-01 2025-09-30 05085498 e:RetainedEarningsAccumulatedLosses 2025-09-30 05085498 e:RetainedEarningsAccumulatedLosses 1 2025-01-01 2025-09-30 05085498 e:RetainedEarningsAccumulatedLosses 2 2025-01-01 2025-09-30 05085498 e:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 05085498 e:RetainedEarningsAccumulatedLosses 2024-12-31 05085498 e:RetainedEarningsAccumulatedLosses 2024-01-01 05085498 e:RetainedEarningsAccumulatedLosses 1 2024-01-01 2024-12-31 05085498 d:FRS102 2025-01-01 2025-09-30 05085498 d:Audited 2025-01-01 2025-09-30 05085498 d:FullAccounts 2025-01-01 2025-09-30 05085498 d:PrivateLimitedCompanyLtd 2025-01-01 2025-09-30 05085498 1 2025-01-01 2025-09-30 05085498 e:RevaluationReserve 2 2025-01-01 2025-09-30 05085498 e:WithinOneYear 2025-09-30 05085498 e:WithinOneYear 2024-12-31 05085498 e:BetweenOneFiveYears 2025-09-30 05085498 e:BetweenOneFiveYears 2024-12-31 05085498 e:CurrentFinancialInstruments 6 2025-09-30 05085498 e:CurrentFinancialInstruments 6 2024-12-31 05085498 d:SmallCompaniesRegimeForAccounts 2025-01-01 2025-09-30 05085498 e:AcceleratedTaxDepreciationDeferredTax 2025-09-30 05085498 e:AcceleratedTaxDepreciationDeferredTax 2024-12-31 05085498 e:TaxLossesCarry-forwardsDeferredTax 2025-09-30 05085498 e:TaxLossesCarry-forwardsDeferredTax 2024-12-31 05085498 e:RetirementBenefitObligationsDeferredTax 2025-09-30 05085498 e:RetirementBenefitObligationsDeferredTax 2024-12-31 05085498 2 2025-01-01 2025-09-30 05085498 5 2025-01-01 2025-09-30 05085498 9 2025-01-01 2025-09-30 05085498 e:ShareCapital 1 2025-01-01 2025-09-30 05085498 e:ShareCapital 2 2025-01-01 2025-09-30 05085498 e:ShareCapital 1 2024-01-01 2024-12-31 05085498 f:PoundSterling 2025-01-01 2025-09-30 05085498 e:RetainedEarningsAccumulatedLosses 5 2025-01-01 2025-09-30 05085498 e:RetainedEarningsAccumulatedLosses 5 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 05085498 THE RESIDENT KENSINGTON LIMITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2025
THE RESIDENT KENSINGTON LIMITED REGISTERED NUMBER: 05085498 STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2025
|  | 30 September |  | 31 December
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 20,650,000 |  | 18,200,000
Current assets |  |  |  |  |
Stocks |  | - |  | 2,418 |
Debtors | 6 | 474,717 |  | 91,298 |
Cash at bank and in hand |  | 497,004 |  | 808,927 |
|  | 971,721 |  | 902,643 |
Creditors: amounts falling due within one year | 7 | (10,412,028) |  | (614,125) |
Net current (liabilities)/assets |  |  | (9,440,307) |  | 288,518
Total assets less current liabilities |  |  | 11,209,693 |  | 18,488,518
Creditors: amounts falling due after more than one year | 8 |  | - |  | (8,780,946)
Provisions for liabilities |  |  |  |  |
Deferred tax |  |  | (1,435,392) |  | (1,128,318)
Net assets |  |  | 9,774,301 |  | 8,579,254
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1,495 |  | 1,495
Revaluation reserve |  |  | 2,733,653 |  | 446,878
Cash flow hedge reserve |  |  | - |  | (17,279)
Profit and loss account |  |  | 7,039,153 |  | 8,148,160
|  |  | 9,774,301 |  | 8,579,254
Page 1
THE RESIDENT KENSINGTON LIMITED REGISTERED NUMBER: 05085498 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 30 SEPTEMBER 2025 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 by:
................................................ C De Felice
Director
Date: 13 February 2026
The notes on pages 4 to 14 form part of these financial statements. Page 2
THE RESIDENT KENSINGTON LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 30 SEPTEMBER 2025
| Called up share capital | Revaluation reserve | Cash flow hedge reserve | Profit and loss account | Total equity
| £ | £ | £ | £ | £
At 1 January 2024 | 1,495 | 129,387 | (133,662) | 7,684,272 | 7,681,492
Comprehensive income for the year |  |  |  |  |
Profit for the year | - | - | - | 328,319 | 328,319
Taxation in respect of items of other comprehensive income | - | - | (38,794) | - | (38,794)
Surplus on revaluation of freehold property | - | 453,060 | - | - | 453,060
Fair value movements on interest rate swap | - | - | 155,177 | - | 155,177
Total comprehensive income for the year | - | 453,060 | 116,383 | 328,319 | 897,762
Transfer to/from profit and loss account | - | (135,569) | - | 135,569 | -
At 1 January 2025 | 1,495 | 446,878 | (17,279) | 8,148,160 | 8,579,254
Comprehensive income for the period |  |  |  |  |
Loss for the period | - | - | - | (1,246,935) | (1,246,935)
Taxation in respect of items of other comprehensive income | - | - | (7,015) | - | (7,015)
Surplus on revaluation of freehold property | - | 2,780,061 | - | - | 2,780,061
Fair value movements on interest rate swap | - | - | 23,039 | - | 23,039
Taxation in respect of revaluation of freehold property | - | (354,103) | - | - | (354,103)
Total comprehensive income for the period | - | 2,425,958 | 16,024 | (1,246,935) | 1,195,047
Transfer to/from profit and loss account | - | (139,183) | 1,255 | 137,928 | -
At 30 September 2025 | 1,495 | 2,733,653 | - | 7,039,153 | 9,774,301
| The notes on pages 4 to 14 form part of these financial statements.
Page 3
THE RESIDENT KENSINGTON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2025
1. | General information
The Resident Kensington Limited is a private company, limited by shares, incorporated and registered in England and Wales. The Company's registered number is 05085498, and registered office address is Pentax House Saashiv & Co South Hill Avenue, South Harrow, Harrow, England, HA2 0DU. The principal activity of the Company is that of a hotelier. During the period, the Company changed its accounting period end from 31 December 2025 to 30 September 2025. As a result, the figures for the current period are not directly comparable with those of the previous period. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | Going concern
The financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons. The directors have prepared cash flow forecasts for a period of at least 12 months from the date of approval of these financial statements which indicate that the Company will have sufficient funds to meet its liabilities as they fall due for that period. Consequently, the directors are confident that the Company will have sufficient funds to continue to meets its liabilities as they fall due for a period of 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis. Page 4
THE RESIDENT KENSINGTON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2025 2.Accounting policies (continued)
| 2.3 | Foreign currency translation
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. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
| 2.4 | Revenue
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. Revenue from accommodation, food and beverages and other ancillary services are recognised on the date of delivery of the service, as this is the date on which the risk and reward transfers from the Company to the customer. Any amounts received before the end of the reporting period in respect of the provision of accommodation and services after the reporting period are treated accordingly as deferred revenues.
| 2.5 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.6 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.7 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. Page 5
THE RESIDENT KENSINGTON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2025 2.Accounting policies (continued)
| 2.8 | Current and deferred taxation
The tax expense for the period comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised 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 reporting date.
| 2.9 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following bases:
|  |  |  | Freehold property | - | 50 years
|  |  |  | Integral plant element of buildings | - | 5 - 15 years
|  |  |  | Fixtures and fittings | - | 2 - 5 years
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Page 6
THE RESIDENT KENSINGTON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2025 2.Accounting policies (continued)
| 2.10 | Revaluation of tangible fixed assets
Individual freehold properties are carried at fair value at the date of the revaluation plus any subsequent additions less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Statement of Financial Position date. Fair values are determined from market based evidence normally undertaken by professionally qualified valuers. Revaluation gains and losses are recognised in the Statement of Comprehensive Income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
| 2.11 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.12 | Debtors
Short term debtors are measured at transaction price, less any impairment.
| 2.13 | Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.14 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.15 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its basic financial instruments. Page 7
THE RESIDENT KENSINGTON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2025 2.Accounting policies (continued)
| 2.16 | Hedge accounting
The Company uses variable to fixed interest rate swaps to manage its exposure to fair value risk on its bank loan. These derivatives are measured at fair value at each balance sheet date. The fair value is determined by the lender based on the mid-market price for the instrument as at the close of business at the balance sheet date. To the extent the cash flow hedge is effective, movements in fair value are recognised in Other Comprehensive Income and presented in a separate cash flow hedge reserve. Any ineffective portions of those movements are recognised in profit or loss for the year.
3. | Judgements in applying accounting policies and key sources of estimation uncertainty
In the process of applying its accounting policies, the Company is required to make certain estimates, judgements and assumptions that it believes are reasonable based on the information available. These judgements, estimates and assumptions affect the amounts of assets and liabilities at the date of the financial statements and the amounts of revenues and expenses recognised during the reporting periods presented. On an ongoing basis, the Company evaluates its estimates using historical experience, consultation with experts and other methods considered reasonable in the particular circumstances. Actual results may differ significantly from the estimates, the effect of which is recognised in the period in which the facts that give rise to the revision become known. Revaluation of freehold property The Company holds freehold property, including fixtures and fittings, of £20,650,000 (2023: £18,200,000) which are accounted for under the revaluation model. Valuation of freehold property is a significant area of estimation. Directors' valuations are based upon the most recent external valuations available by external professional valuers' and directors' expertise and knowledge of current market conditions. The valuation of freehold property is inherently subjective, as it is based upon valuer assumptions and directors' assessment of market conditions which may prove to be inaccurate. Slight changes in these assumptions could have a material impact on the financial statement. The revaluation gain for the year was £2,780,061 (2024: £453,060) during the year and is recognised in Other Comprehensive Income. Going concern The directors have used judgement in determining that the Company is a going concern. See note 2.2 for further details.
4. | Employees
| The Company has no employees other than the directors, who did not receive any remuneration (2024: £nil).
Page 8
THE RESIDENT KENSINGTON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2025
5. | Tangible fixed assets
|  | Freehold property | Fixtures and fittings | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 January 2025 | 17,652,832 | 2,002,880 | 19,655,712
| Additions | 7,450 | 29,392 | 36,842
| Revaluations | 2,496,616 | - | 2,496,616
| At 30 September 2025 | 20,156,898 | 2,032,272 | 22,189,170
| Depreciation |  |  |
| At 1 January 2025 | - | 1,455,712 | 1,455,712
| Charge for the year | 283,446 | 83,458 | 366,904
| On revalued assets | (283,446) | - | (283,446)
| At 30 September 2025 | - | 1,539,170 | 1,539,170
| Net book value |  |  |
| At 30 September 2025 | 20,156,898 | 493,102 | 20,650,000
| At 31 December 2024 | 17,652,832 | 547,168 | 18,200,000
Page 9
THE RESIDENT KENSINGTON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2025 Cost or valuation at 30 September 2025 is as follows:
|  | Land and buldings
|  | £
| At cost: | 12,902,201
| At valuation: |
| Revaluation surplus based on third party valuation provided by Allsop on a vacant possession basis | 7,254,697
|  | 20,156,898
If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:
|  | 2025 | 2024
|  | £ | £
| Cost | 12,902,201 | 12,894,751
| Accumulated depreciation | (4,519,666) | (4,375,403)
| Net book value | 8,382,535 | 8,519,348
6. | Debtors
|  |  |  |  | 30 September | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | - | 273
| Other debtors | 267,900 | 24,862
| Prepayments and accrued income | 40,541 | 66,163
| Tax recoverable | 166,276 | -
|  | 474,717 | 91,298
Page 10
THE RESIDENT KENSINGTON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2025
7. | Creditors: amounts falling due within one year
|  |  |  |  | 30 September | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 8,917,290 | -
| Other loans | - | 78,860
| Trade creditors | 30,615 | 56,205
| Amounts owed to group undertakings | 1,415,729 | 35,497
| Corporation tax | - | 110,409
| Other taxation and social security | - | 34,358
| Other creditors | - | 191,363
| Accruals and deferred income | 48,394 | 84,394
| Financial instruments | - | 23,039
|  | 10,412,028 | 614,125
| Amounts owed to group undertakings are unsecured, interest free, and repayable on demand.
8. | Creditors: amounts falling due after more than one year
|  |  |  |  | 30 September | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | - | 8,780,946
Page 11
THE RESIDENT KENSINGTON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2025
9. | Loans
|  |  |  |  | 30 September | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 8,917,290 | -
| Other loans | - | 78,860
| Amounts falling due 2-5 years |  |
| Bank loans | - | 8,780,946
|  | 8,917,290 | 8,859,806
| Bank loans includes a commercial loan facility. In November 2022 the £55.4m joint term loan with The Resident Covent Garden Limited, The Resident Liverpool LLP and the Resident Soho Limited was refinanced and reduced to a £54.8m loan facility. As part of the revised arrangements the loan, which was previously repayable in full in November 2022 is now repayable in November 2027 and the interest rate charged on the loan has been amended to SONIA plus 2.5%. The commercial loan facility is secured against freehold property owned by the Company and a debenture over the Company's assets. The LLP also gave a joint and several guarantee for all sums due to National Westminster Bank plc under this facility. The Resident Covent Garden Limited, The Resident Covent Garden Holdings Limited, The Resident Kensington Holdings Limited, The Resident Liverpool LLP, The Resident Soho Limited and the Resident Soho Holdings Limited also provided joint and several guarantees. The balance on the commercial bank loan as at 30 September 2025 is £8,917,290 (2024: £8,780,946). In the previous financial year £136,344 finance fees incurred in relation to the commercial bank loan were netted off against the loan liability and were being amortised over the term of the loan. However following an agreement reached with the lender during the current financial period to repay the loan in full on 30 September 2025, all finance fees have been amortised into profit and loss. In November 2022 The Resident Soho Limited entered into a swap agreement on £41.1m of which £6.7m is allocated to the Company based on its proportion of the year end loan facility, whereby each entity pays interest at 4.24% and receives interest at SONIA. As The Resident Kensington Limited was sold post year, the swap balances was reduced to £nil (2024: £23,039) at the date of the Statement of Financial Position. In the year, a payment of £78,860 was made to Western Heritable Limited, a company under common control, to reduce the loan balance to £nil (2024: £78,860).
Page 12
THE RESIDENT KENSINGTON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2025
10. | Deferred taxation
|  | 2025 | 2024
|  | £ | £
| At beginning of year | (1,128,318) | (1,159,188)
| Charged to profit or loss | 54,044 | 69,664
| Charged to other comprehensive income | (361,118) | (38,794)
| At end of year | (1,435,392) | (1,128,318)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 30 September | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (1,080,034) | (1,134,077)
| Short term timing differences | - | 5,759
| Capital losses | (355,358) | -
|  | (1,435,392) | (1,128,318)
11. | Commitments under operating leases
| At 30 September 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 30 September | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 1,400 | 1,400
| Later than 1 year and not later than 5 years | 2,450 | 3,850
|  | 3,850 | 5,250
12. | Post balance sheet events
On 1 October 2025 the outstanding bank loan of £8,917,290 was repaid in full to the lender. Page 13
THE RESIDENT KENSINGTON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2025
13. | Controlling party
The Company's immediate parent company is The Resident Kensington Holdings Limited. On 30 September 2025 Mactaggart Hotel Holdings Limited sold its entire shareholdings in The Resident Kensington Holdings Limited to ARC SB 2 Limited, a company registered at Pentax House, Saashiv & Co, South Hil Avenue, South Harrow, Harrow, HA2 ODU. Therefore as of 30 September 2025 ARC SB 2 Limited is the Company's ultimate parent company. The directors consider Mr Mansur Sulaiman A Alabraha to be the ultimate controlling party.
14. | Auditors' information
The auditors' report on the financial statements for the period ended 30 September 2025 was unqualified. The audit report was signed on 13 February 2026 by David Lyons (Senior Statutory Auditor) on behalf of HaysMac LLP.
Page 14