Kronen Hospitality Management Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 6

Kronen Hospitality Management Limited

Balance Sheet

31 January 2026

	Note	31 January 2026 £	Unaudited 30 September 2024 £
Current assets
Debtors	4	722,402	21,713
Cash at bank and in hand		201,846	61,993
		924,248	83,706
Creditors: Amounts falling due within one year	5	(884,011)	(50,423)
Net assets		40,237	33,283
Capital and reserves
Called up share capital	7	100	100
Profit and loss account		40,137	33,183
Shareholders' funds		40,237	33,283

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 27 October 2026 and signed on its behalf by:
 

......................................... C McLaughlin Director

Company Registration Number: 11595742

Kronen Hospitality Management Limited

Notes to the Financial Statements

Period from 1 October 2024 to 31 January 2026

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Crown Hotel
Wetheral
Carlisle
CA4 8ES

These financial statements were authorised for issue by the Board on 27 October 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

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' and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Disclosure of long or short period

The company has extended its period end to 31 January 2026 in the current period in order to bring its year end in line with that of the wider group which it is part of.

By virtue of this change the comparative financial information, relating to the year to 30 September 2024, will not be directly comparable.

Kronen Hospitality Management Limited

Notes to the Financial Statements

Period from 1 October 2024 to 31 January 2026

Adoption of new and revised Financial Reporting Standards (FRS102)

The Financial Reporting Council (FRC) has introduced significant amendments to FRS 102, effective for accounting periods beginning on or after 1 January 2026, with early adoption permitted. These changes, stemming from the 2024 periodic review, aim to align UK and Ireland Generally Accepted Accounting Practice (GAAP) more closely with international standards.

After due consideration the Directors have not chosen to early adopt the requirements of FRS102. The areas that have been reviewed as a potential change to the financial statements are as follows:

Revised revenue accounting requirements in FRS 102 and FRS 105, based on the IFRS 15 five-step model for revenue recognition, with appropriate simplifications;
Revised lease accounting requirements in FRS 102 based on the IFRS 16 'on-balance sheet' model, again with appropriate simplifications.

The Directors are assessing the impact of the amendment to the accounting standard, which will be reflected in the financial statements to 31 January 2027, however do not anticipate that this will be material.

Going concern

At the balance sheet date the company had net assets of £40,237 (2024 - £33,283).

The company's ability to continue as a going concern is dependent upon both the ongoing support of its bankers and its shareholders.

After due consideration the Directors continue to apply the going concern basis to the preparation of the financial statements.

Revenue recognition

Turnover relates to the provision of management services to group undertakings, and is shown net of
value added tax and discounts.

Turnover is recognised on an accruals basis.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation 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 taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Kronen Hospitality Management Limited

Notes to the Financial Statements

Period from 1 October 2024 to 31 January 2026

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

Critical judgements and estimation uncertainty

In applying the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

In the opinion of the Directors there are no areas of the financial statements where there exists estimation uncertainty.

The key judgement made by the Directors relates to the appropriateness of the going concern assertion represent material uncertainties.

The board has concluded that there are no material uncertainties relating to events or conditions that individually or collectively may cast doubt on the company's ability to continue as a going concern for a period at least 12 months from the date the financial statements are authorised for issue.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0 (2024 - 0).

Kronen Hospitality Management Limited

Notes to the Financial Statements

Period from 1 October 2024 to 31 January 2026

4

Debtors

	31 January 2026 £	Unaudited 30 September 2024 £
Trade debtors	1	21,905
Amounts owed by group undertakings	718,710	-
Other debtors	3,691	(192)
	722,402	21,713

5

Creditors

Creditors: amounts falling due within one year

	Note	31 January 2026 £	Unaudited 30 September 2024 £
Due within one year
Loans and borrowings	6	809,546	-
Trade creditors		1,011	953
Amounts due to group undertakings		73,278	56,342
Taxation and social security		176	7,938
Other creditors		-	(14,810)
		884,011	50,423