KUDOS CATERING (UK) LIMITED - Annual Accounts

Form: AA - Annual Accounts

ACCOUNTS FOR 'MEDIUM' CO. MADE UP TO 28/01/10

Filed on: 1 Nov 2010

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COMPANIES HOUSE
KUDOS HOSPITALITY LIMITED
Directors' Report And Financiai Statements
For the period ended ## January ####
Company Regl K talon No ######## (England And Wales)

KUDOS HOSPITALITY LIMITED
CONTENTS
Directors' report
independently§repon
Profit and loss account
Bawnceshem
Cash flow statement
Notes to the cash flow statement
Notes to the financial statements
Page
#-#
#-#
#
#
#
#
##-##

KUDOS HOSPITALITY LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED ## JANUARY ####
The directors present their report and Financial statements for the period ended ## January ####
Principal activities and review of the business
The principal activity of the company dung the period was that of contracted hospitality and venue
management services
Kudos Hospitality is the principal catenate operations business of the Crown Group, providing services on
permanent stets across England
The company has reported a pre~tax prom of £# #M for the year based on tu mover of £## #M Due to the
difficult trading conditions experienced within the year it was II'\#Vlf#bi# that the company would be unable to
significantly increase sales compared to the previous year Nevertheless a small increase was achieved,
which is an encouraging outcome t tthese challenging times
We have invested in our taxed personnel structure and bolstered our management team This will enable the
company to better evaluate and further develop the necessary business strategies In turn this will allow us to
increase our current market presence and also expand into new sub-market sectors
Although the future economic conditions look difficult, we have sound business strategies in place, strong
management of key performance indicators and low gearing These factors will assist us in overcoming
possible future adverseness
The perceived risks and uncertainties facing the company are In connection with operating In a highly
competitive market and also the uncertainty faced in respect of existing contracts not being renewed at the
end of the agreements
To mitigate these asks and uncertainties the company tries to maintain an average contract period in excess
of rive years and the Board continue to pursue new contract growth with similar contract terms
The Company's operations are spread over a number of business sectors principally conference and
exhibition centres, sporting venues, visitor attraction properties and other leisure and art centres, which the
Board consider provide a broad base to support future performance in times of economic recession
Results and dividends
The results for the period are set out on page #
The directors do not recommend payment of a final dividend
Directors
The following directors have held oftener since ## January ####
R L C Morgan
N A Gaymer (Resrgned ## November ####)
D Morgan
C N Beer
C J Sullivan
J Pryce
C Rea (Appointed # October ####)
page #

KUDOS HOSPITALITY LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED ## JANUARY ####
Charitable donations #### ####
E £
During the period the company made the following payments
Charitable donations ##,### ##,###
Included in the figure above is £##,### paid to the Crown Group Chantable Foundation Limited and £#,###
paid to the Candlelighters Trust
Employee involvement
During the year, the policy of providing employees with information about the company has been continued
through internal media methods in which employees have also been encouraged to present their suggestions
and views on the company’s performance Regular meetings are held between local management and
employees to allow a free flow on information and ideas
Disabled persons
The company's policy is to recruit disabled workers for those vacancies that they are able to fill All necessary
assistance with initial training courses is given Once employed, a career plan is developed so as to ensure
suitable opportunities for each disabled person Arrangements are made, wherever possible, for retraining
employees who become disabled, to enable them to perform work identified as appropriate to their aptitudes
and abilities
Auditors
The auditors, Kingston Smith LLP, are deemed to be reappointed under section ###(#) of the Companies Act
####
page #

KUDOS HOSPITALITY LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED ## JANUARY ####
Directors' responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance
with applicable law and regulations
Company law requires the directors to prepare financial statements for each financial year Under that law the
directors have elected to prepare the financial statements In accordance with United Kingdom Generally
Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) Under company
law the directors must not approve the financial statements unless they are satisfied that they give a true and
fair view of the state of affairs of the company and of the profit or loss of the company for that period In
preparing these financial statements, the directors are required to
- select suitable accounting policies and then apply them consistently,
- make judgements and accounting estimates that are reasonable and pm dent,
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
company will continue In business
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain
the company’s transactions and disclose with reasonable accuracy at any time the financial position of the
company and enable them to ensure that the financial statements comply with the Companies Act #### They
are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities
Statement of disclosure to auditors
So far as the directors are aware, there is no relevant audit information of which the company’s auditors are
unaware Additionally, the directors have taken all the necessary steps that they ought to have taken as
directors In order to make themselves aware of all relevant audit information and to establish that the
company aauditors are aware of that information
On behalf of the board
C J Sullivan
Director
l‘\\\\»(t,\
page #

KUDOS HOSPITALITY LIMITED
INDEPENDENT AUDITORS' REPORT
TO THE MEMBERS OF KUDOS HOSPITALITY LIMITED
We have audited the financial statements of Kudos Hospitality Limited for the period ended ## January ####
which comprise the Profit and Loss Account, the Balance Sheet, the Cash Flow Statement and the related
notes The financial reporting framework that has been applied in their preparation is applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice)
This report is made solely to the company’s members, as a body, in accordance with Chapter # of Part ## of
the Companies Act #### Our audit work has been undertaken so that we might state to the company’s
members those matters we are required to state to them In an auditors' report and for no other purpose To
the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the
company and the company’s members as a body, for our audit work, for this report, or for the opinions we
have formed
Respective responsibilities of directors and auditors
As explained more fully in the Directors' Responsibilities Statement responsibilities for the preparation of the
financial statements and for being satisfied that they give a true and fair view Our responsibility is to audit the
financial statements in accordance with applicable law and Intematlonal Standards on Auditing (UK and
Ireland) Those standards require us to comply with the Auditing Practices Board's Ethical Standards for
Auditors
Scope of the audit of the financial statements
An audit involves obtaining evidence about the amounts and disclosures In the financial statements sufficient
to give reasonable assurance that the Gnanclal statements are free from maternal misstatement, whether
caused by fraud or error This includes an assessment of whether the accounting policies are appropriate to
the company’s circumstances and have been consistently applied and adequately disclosed, the
reasonableness of significant accounting estimates made by the directors, and the overall presentation of the
Financial statements
Opinion on financial statements
In our opinion the financial statements
- give a true and fair view of the state of the company’s affairs as at ## January #### and of its prohibit for
the period then ended,
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice, and
- have been prepared in accordance with the requirements of the Companies Act ####
Opinion on other matter prescribed by the Companies Act ####
In our opinion the information given in the Directors' Report for the financial period for which the financial
statements are prepared is consistent with the financial statements
page #

KUDOS HOSPITALITY LIMITED
INDEPENDENT AUDITORS REPORT (CONTINUED)
TO THE MEMBERS OF KUDOS HOSPITALITY LIMITED
Matters on which we are required to report by exception
We have nothing to report In respect of the following matters where the Companies Act #### requires us to
report to you if, in our opinion
- adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us, or
the financial statements are not in agreement with the accounting records and returns, or
certain disclosures of directors' remuneration specified by law are not made, or
we have not received all the information and explanations we require for our audit
ls/M'co. £\N\/V#‘- Lb(
Christopher Lane (Senior Statutory Auditor) ##/ f to ( I o .
for and on behalf of Kingston Smith LLP
Chartered Accountants
Statutory Auditor
Devonshire House
## Goswell Road
London
EC# M #AD
page #

KUDOS HOSPITALITY LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED ## JANUARY ####
#### ####
Notes £ £
Turnover # ##,###,### ##,###,###
Cost of sales (##,###,###) (##,###,###)
Gross profit #,###,### #,###,###
Administrative expenses (#,###,###) (#,###,###)
Operating profit # #,###,### #,###,###
Interest payable and similar charges # (##,###) (##,###)
Profit on ordinary activities before
i#Xaii°I# #,###,### #,###,###
Tax on profit on ordinary activities # (###,###) (###,###)
Profit for the period ## #,###,### #,###,###
The profit and loss account has been prepared on the basis that all operations are continuing operations
There are no recognised gains and losses other than those passing through the profit and loss account
page #

KUDOS HOSPITALITY LIMITED
BALANCE SHEET
AS AT ## JANUARY ####
#### ####
Notes E £ £ E
Fixed assets
Tangible assets # #,###,### ###,###
Current assets
Stocks # ###,### ###,###
Debtors # ##,###,### ##,###,###
Cash at bank and in hand ###,### ###,###
##,###,### ##,###,###
Creditors: amounts falling due within
we Veal' ## (#,###,###) (#,###,###)
Net current assets #,###,### #,###,###
Total assets less current liabilities #,###,### #,###,###
#,###,### #,###,###
Capital and reserves
Called up share capital ## ### ###
Profit and loss account ## #,###,### #,###,###
Shareholders' funds ## #,###,### #,###,###
Approved by the Board and authorised for issue on
C J Sullivan
Director
Company Registration No. ########
\‘\I~~I~
page #

KUDOS HOSPITALITY LIMITED
CASH FLOW STATEMENT
FOR THE PERIOD ENDED ## JANUARY ####
#### ####
£ £ £ £ I
Net cash inflow from operating activities #,###,### #,###,###
Retums on investments and servicing of
finance
Interest paid (##,###) (##,###)
Net cash outflow for returns on investments
and servicing of finance (##,###) (##,###)
Taxation (###,###) (###,###)
Capital expenditure
Payments to acquire tangible assets (###,###) (###,###)
Receipts from sales of tangible assets ###,### ##,###
Net cash outflow for capital expenditure (###,###) (###,###)
Equity dividends paid ' (# ,###,###)
Net cash inflow before management of Iiquid
resources and financing ##,### ###,###
Financing
New long term bank Ioan ###,### -
Repayment of long term bank Ioan (###,###) (###,###)
Capital element of hire purchase contracts - (##,###)
Net cash in#oWI(outflow) from financing ###,### (###,###)
Increase in cash in the period ###,### ###,###
page #

KUDOS HOSPITALITY LIMITED
NOTES TO THE CASH FLOW STATEMENT
FOR THE PERIOD ENDED ## JANUARY ####
# Reconciliation of operating profit to net cash inflow from operating #### ####
activities
£ £
Operating profit #,###,### #,###,###
Depreciation of tangible assets ###,### ###,###
(Profit)/loss on disposal of tangible assets (##,###) ##,###
Decrease/(increase) in stocks ##,### (#,###)
(Increase)/decrease in debtors (#,###) ###,###
Decrease in creditors within one year (# ,###,###) (###,###)
Net cash inflow from operating activities #,###,### #,###,###
# Analysis of net funds ## January Cash flow Other non- ## January
#### cash changes ####
£ £ E £
Net Cash
Cash at bank and in hand ###,### ###,### ###,###
Debt
Debts falling due within one year (##,###) (###,###) (###,###)
Net funds ###,### ##,### ###,###
# Reconciliation of net cash flow to movement in net funds #### ####
£ £
Increase in cash in the period ###,### ###,###
Cash (inflow)outflow fROM (increase)/decrease in debt (###,###) ###,###
Movement in net funds in the period ##,### ###,###
Opening net funds(dbet) ###,### (###,###)
Closing net funds ###,### ###,###
page #

KUDOS HOSPITALITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED ## JANUARY ####
Accounting policies
Accounting convention
The financial statements are prepared under the historical cost convention
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting
Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied
consistently (except as otherwise srated)
Turnover
Turnover represents amounts invoiced to customers when an event has been fulfilled, net of VAT and
trade discounts
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation Depreciation is provided at rates calculated to
went off the cost less estimated residual value of each asset over its expected useful life, as follows
Plant and machinery Straight line over # to # years
Fixtures, fittings & equipment Straight line over # to # years
Motor vehicles Straight line over # to # years
Leasing
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and
depreciated over the shorter of the lease term and their useful lives Obligations under such agreements
are included In creditors net of the finance charge allocated to future penology The finance element of the
rental payment is charged to the profit and loss account so as to produce a constant periodic rate of
charge on the net obligation outstanding in each period
Rentals payable under operating leases are charged against income on a straight line basis over the
lease term
Stock
Stock is valued at the lower of cost and net realisable value
Small catering items such as cutlery are written off In the year they are purchased
Pensions
The company operates a defined benefit scheme for the benefit of some of its employees Contnbutions
payable are charged to the profit and loss account in the period they are payable
Deferred taxation
In accordance with FRS ##, deferred tax IS recognised as a liability or asset if transactions or events that
give the company the obligation to pay more tax in future or a right to pay less tax in future have occurred
by the balance sheet date
Financial Instruments
Financial instruments are classified and accounted for according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instalments An equity instrument is
any contract that evidences a residual interest in the assets of the company after deducting all of its
liabilities
page ##

KUDOS HOSPITALITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED ## JANUARY ####
# Turnover
The total turnover of the company for the period has been vended from its principal activity wholly
undertaken in the United Kingdom
# Operating profit
Operating profit is stated after charging
Depreciation of tangible assets
Loss on disposal of tangible assets
Auditors' remuneration (Including expenses and benefits in kind)
and after crediting
Profit on disposal of tangible assets
# Interest payable
Bank interest
On overdue tax
Other interest
####
£
###,###
## ,###
(##,###)
####
£
#,###
#,###
##,###
##,###
####
£
###,###
##,###
#,###
####
£
#,###
##,###
#,###
##,###
page ##

KUDOS HOSPITALITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED ## JANUARY ####
# Taxation #### ####
£ £
Domestic current year tax
U K corporation tax ###,### ###,###
Adjustment for prior years (##,###) (#,###)
Current tax charge ###,### ###,###
Deferred tax
Deferred tax movement (##,###) (##,###)
###,### ###,###
Factors affecting the tax charge for the period
Profit on ordinary activities before taxation #,###,### #,###,###
Profit on ordinary activities before taxation multiplied by standard rate of
UK corporation tax of ## ##% (#### - ## ##%) ###,### ###,###
Effects of
Non (taxable)/allowable items #,### ##,###
Capital allowances compared to depreciation ##,### ##,###
Group losses utilised (###,###) ~
Adjustments to previous penology (##,###) (#,###)
Other tax adjustments - (#,###)
(###,###) ##,###
Current tax charge ###,### ###,###
# Dividends #### ####
£ £
Ordinary Lenten paid - #,###,###
page ##

KUDOS HOSPITALITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED ## JANUARY ####
# Tangible fixed assets
Plant and Fixtures, Motor Total
machinery fittings & vehicles
equipment
£ £ £ £
Cost
At ## January #### ###,### #,###,### ###,### #,###,###
Additions ###,### #,### ##,### ###,###
Transfer between categorises #,###,### (# ,###,###) (##,###) (##,###)
Disposals (###,###) - (##,###) (###,###)
At ## January #### #,###,### ###,### ###,### #,###,###
Depreciation
At ## January #### ###,### #,###,### ###,### #,###,###
Transfer between categorises #,###,### (#,###,###) (##,###) (##,###)
On disposals (###,###) - (##,###) (###,###)
Charge for the period ###,### ##,### ##,### ###,###
At ## January #### #,###,### ###,### ##,### #,###,###
Net book value
At ## January #### ###,### ##,### ##,### #,###,###
At ## January #### ###,### ###,### ##,### ###,###
# Stocks #### ####
£ £
Closing stock ###,### ###,###
page ##

KUDOS HOSPITALITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED ## JANUARY ####
# Debtors #### ####
£ £
Trade debtors #,###,### #,###,###
Amounts owed by parent and fellow subsidiary undertakings #,###,### #,###,###
Other debtors ##,### ###,###
Prepayments and accrued Income ###,### ###,###
Deferred tax asset (see note ##) ###,### ###,###
##,###,### ##,###,###
## Creditors: amounts falling due within one year #### ####
£ £
Bank loans and overdrafts ###,### ##,###
Trade creditors #,###,### #,###,###
Amounts owed to parent and fellow subsidiary undertakings ###,### #,###,###
Corporation tax ###,### ###,###
Other taxes and social security costs ###,### ###,###
Directors' current accounts - ###
Other creditors ###,### #,###,###
Accruals and deferred income #,###,### ###,###
#,###,### #,###,###
Bank loans and overdrafts and hire purchase agreements are secured on the assets of the company
‘ I
I
I
page ##

KUDOS HOSPITALITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED ## JANUARY ####
## Provisions for liabilities and charges
The deferred tax asset (included in debtors, note #) is made up as
follows'
Balance at ## January ####
Profit and loss account
Balance at ## January ####
Decelerated capital allowances
## Pension and other post-retirement benefit commitments
## Share capital
Authorised
#,### Ordinary of £# each
Allotted, called up and fully paid
### Ordinary of £# each
## Statement of movements on profit and loss account
Balance at ## January ####
Profit for the period
Balance at ## January ####
####
£
(###,###)
(##,###)
(###,###)
####
£
(###,###)
####
£
#,###
###
####
£
(###,###)
####
£
#,###
###
Profit and
loss
account
£
#,###,###
#,###,###
#,###,###
page ##

KUDOS HOSPITALITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED ## JANUARY ####
## Reconciliation of movements in shareholders' funds #### ####
£ £
Profit for the financial period #,###,### #,###,###
Dividends - (#.###,###)
Net addition to shareholders' funds #,###,### ###,###
Opening shareholders' funds #,###,### #,###,###
Closing shareholders' funds #,###,### #,###,###
## Directors' emoluments #### ####
£ £
Emoluments for qualifying services ##,### ###,###
The number of directors for whom retirement benefits are acclaimimg under money purchase pension
schemes amounted to # (#### - #)
## Employees
Number of employees
The average monthly number of employees (including directors) dung the
period was
#### ####
Number Number
Management ### ###
Catering ### ###
### ## #
Employment costs #### ####
£ £
Wages and seaplanes #,###,### #,###,###
Social security costs ###,### ###,###
Other pension costs ##,### ##,###
#,###,### #,###,###
page ##

KUDOS HOSPITALITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED ## JANUARY ####
## Control
The ultimate parent company is Crown Holdings Limited, a company Incorporated in England and Wales
Copies of the Group accounts are available from the company’s registered office The ultimate controlling
party is RLC Morgan, a director who controls the majority of the issued share capital of Crown Holdings
Limited
## Related party transactions
The company has taken advantage of the exemption in Financial Reporting Standard Number # from the
requirement to disclose transactions with group companies on the grounds that consolidated financial
statements are prepared by the ultimate parent company
page ##