KAZ Hotels Limited - Accounts to registrar (filleted) - small 23.2.5
KAZ Hotels Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2023 |
| FOR |
| KAZ HOTELS LIMITED |
| T/A |
| CHISWICK ROOMS |
| KAZ HOTELS LIMITED (REGISTERED NUMBER: 07194386) |
| T/A CHISWICK ROOMS |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| KAZ HOTELS LIMITED |
| T/A CHISWICK ROOMS |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Atlas Chambers |
| 33 West Street |
| Brighton |
| East Sussex |
| BN1 2RE |
| KAZ HOTELS LIMITED (REGISTERED NUMBER: 07194386) |
| T/A CHISWICK ROOMS |
| BALANCE SHEET |
| 31 MARCH 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| 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 |
| KAZ HOTELS LIMITED (REGISTERED NUMBER: 07194386) |
| T/A CHISWICK ROOMS |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2023 |
| 1. | STATUTORY INFORMATION |
| KAZ Hotels Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office address and principal place of business can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is recognised when satisfying performance obligations of hotel services, and when control is transferred in respect of goods connected to hotel services. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| With the exception of freehold property, 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. |
| Freehold property is carried at revalued amount, being fair value at the date of valuation. Revaluations are performed with sufficient regularity to ensure that the carrying amounts do not differ materially from those that would be determined using fair values at the end of each reporting period. |
| Any revaluation increase in the carrying amount of freehold property is recognised in other comprehensive income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss, in which case the increase is credited to profit and loss to the extent of the decrease previously expended. Decreases that offset previous increases of the same asset are charged in other comprehensive income and debited against revaluation reserve in equity; decreases exceeding the balance in revaluation reserve relating to an asset are recognised in profit or loss. |
| Freehold property is not depreciated as the residual value is deemed to be materially the same as the current valuation. |
| Improvements to property has been combined with freehold property as part of this initial revaluation. The use of a policy of revaluation provides more relevant and reliable information about the value of the property owned by the company. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| KAZ HOTELS LIMITED (REGISTERED NUMBER: 07194386) |
| T/A CHISWICK ROOMS |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | and | Computer |
| property | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2022 |
| Additions |
| At 31 March 2023 |
| DEPRECIATION |
| At 1 April 2022 |
| Charge for year |
| At 31 March 2023 |
| NET BOOK VALUE |
| At 31 March 2023 |
| At 31 March 2022 |
| Cost or valuation at 31 March 2023 is represented by: |
| Fixtures |
| Freehold | and | Computer |
| property | fittings | equipment | Totals |
| £ | £ | £ | £ |
| Valuation in 2015 | 3,111,419 | - | - | 3,111,419 |
| Valuation in 2022 | (1,000,000 | ) | - | - | (1,000,000 | ) |
| Cost | 4,172,793 | 49,989 | 4,205 | 4,226,987 |
| 6,284,212 | 49,989 | 4,205 | 6,338,406 |
| KAZ HOTELS LIMITED (REGISTERED NUMBER: 07194386) |
| T/A CHISWICK ROOMS |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2023 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| If freehold property had not been revalued it would have been included at the following historical cost: |
| 2023 | 2022 |
| £ | £ |
| Cost | 4,171,293 | 4,171,293 |
| Freehold property was valued on an open market basis on 31 March 2023 by the directors . |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| VAT |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| VAT | 37,518 | - |
| Other creditors |
| Accruals and deferred income |
| The bank loan is secured by a legal charge over the freehold property owned by the company. |
| Following a group restructure on 8 November 2022, amounts due from companies under common control at 31 March 2022 that were included in other creditors (£461,158) has no comparative at 31 March 2023. At 31 March 2023, balances with those companies are now shown as amounts due from group undertakings. |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans - 1-2 years |
| The bank loan is secured by a legal charge over the freehold property owned by the company. |
| 8. | PROVISIONS FOR LIABILITIES |
| 2023 | 2022 |
| £ | £ |
| Deferred tax | 409,694 | 538,687 |
| KAZ HOTELS LIMITED (REGISTERED NUMBER: 07194386) |
| T/A CHISWICK ROOMS |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2023 |
| 8. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2022 |
| Provided during year | ( |
) |
| Freehold property revaluation |
| Balance at 31 March 2023 |