Shiva Kingsway Limited
Private Limited Company · London
ActiveUnited KingdomIncorporated 2014Private Limited Company
Financial position
Accounts to 2025-03-31 · GBP · Company accounts
Net assets
−£98,056,060
Cash
£63,316
Turnover
£15,330,853
Profit / loss
−£20,061,758
Current assets
£8,656,080
Creditors < 1 year
£129,341,695
Equity
−£98,056,060
Average employees
77
Balance-sheet trend
GBP · companyFinancial statements
Selected figures from the best-ranked available filing for each period. Missing values remain unknown.
Some figures were read by AI from scanned accounts, so small errors are possible. View the filed accounts
| Reported figures | 2025-03-31Company · AI-read | 2024-03-31Company · AI-read | 2023-03-3112 months | 2022-03-3112 months | 2021-03-31 | 2020-03-31 | 2019-03-31 | 2018-03-31 | 2017-03-31 | 2016-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet | ||||||||||
| Net assets | −£98,056,060 | −£77,994,302 | −£54,035,976 | −£41,968,659 | — | — | — | — | — | — |
| Equity | −£98,056,060 | −£77,994,302 | −£54,035,976 | −£41,968,659 | −£30,205,506 | −£18,799,000 | −£8,668,000 | £429,000 | −£6,914,000 | −£3,243,487 |
| Share capital | £100 | £100 | — | — | — | — | — | — | — | — |
| Retained earnings | −£98,056,160 | −£77,994,402 | — | — | — | — | — | — | — | — |
| Assets | ||||||||||
| Fixed assets | £155,024,674 | £156,692,130 | — | — | — | — | — | — | — | — |
| Property, plant & equipment | £155,024,674 | £156,692,130 | £158,576,096 | £160,506,676 | — | — | — | — | — | — |
| Current assets | £8,656,080 | £7,167,375 | £5,080,347 | £10,294,070 | — | — | — | — | — | — |
| Cash at bank | £63,316 | £1,092,124 | £2,042,722 | £6,676,651 | — | — | — | — | — | — |
| Debtors | £8,534,255 | £6,015,041 | £2,993,637 | £3,576,050 | — | — | — | — | — | — |
| Stock | £58,509 | £60,210 | £43,988 | £41,369 | — | — | — | — | — | — |
| Liabilities | ||||||||||
| Creditors within one year | £129,341,695 | £102,587,940 | — | — | — | — | — | — | — | — |
| Creditors after one year | £127,859,775 | £135,332,240 | — | — | — | — | — | — | — | — |
| Net current assets | −£120,685,615 | −£95,420,565 | −£68,283,286 | −£59,724,734 | — | — | — | — | — | — |
| Assets less current liabilities | £34,339,059 | £61,271,565 | £90,292,810 | £100,781,942 | — | — | — | — | — | — |
| Profit & loss | ||||||||||
| Turnover | £15,330,853 | £13,635,621 | £12,472,746 | £3,872,317 | — | — | — | — | — | — |
| Cost of sales | £2,044,929 | £2,307,122 | — | — | — | — | — | — | — | — |
| Gross profit | £13,285,924 | £11,328,499 | £9,497,041 | £2,740,533 | — | — | — | — | — | — |
| Administrative expenses | £12,864,422 | £10,755,350 | — | — | — | — | — | — | — | — |
| Other operating income | £138,216 | £129,741 | — | — | — | — | — | — | — | — |
| Operating profit | £557,762 | £632,711 | −£2,839,773 | −£4,834,503 | — | — | — | — | — | — |
| Interest payable | £20,017,803 | £20,657,410 | — | — | — | — | — | — | — | — |
| Profit before tax | −£19,460,041 | −£20,024,699 | −£12,067,317 | −£11,763,153 | — | — | — | — | — | — |
| Tax | £601,717 | £3,933,627 | — | — | — | — | — | — | — | — |
| Profit / loss | −£20,061,758 | −£23,958,326 | −£12,067,317 | −£11,763,153 | — | — | — | — | — | — |
| Operating costs | ||||||||||
| Operating lease charges | £17,606 | £154,174 | — | — | — | — | — | — | — | — |
| Audit fees | £112,909 | £105,353 | — | — | — | — | — | — | — | — |
| People & pay | ||||||||||
| Average employees | 77 | 96 | 100 | 59 | — | — | — | — | — | — |
| Staff costs | £2,357,394 | £2,989,632 | — | — | — | — | — | — | — | — |
| Wages & salaries | £2,071,761 | £2,675,337 | — | — | — | — | — | — | — | — |
| Social security costs | £241,496 | £248,582 | — | — | — | — | — | — | — | — |
| Pension costs | £44,137 | £65,713 | — | — | — | — | — | — | — | — |
| Source evidence | View filing | View filing | View filing | View filing | View filing | View filing | View filing | View filing | View filing | View filing |
From the accounts
What the accounts for 2025-03-31 say about themselves, read by AI from the scanned filing.
- Comparatives
- Prior-year figures were restated
- Principal activity
- The principal activity of the company is operating the Middle Eight Hotel (the “Hotel”), located in central London.
- What it does
- hotel · accommodation · food and beverage (AI keywords)
- The year
- The results of the company show total loss for the year of £20,061,758 (2024, as restated: £23,958,326) and Revenue of £15,330,853 (2024: £13,635,621). The hotel operated by the company re-opened in May 2021 following a redevelopment and re-positioned itself in the London luxury hotel market, and these results are of the hotel in its fourth year of opening with trading expected to stabilise in the coming years.
- Outlook
- The company's medium to long term objective is to continue to establish the hotel in the London luxury market both for accommodation and in terms of its food and beverage offering.
- Auditor
- MG Audit Services Limited · senior statutory auditor Mr Gavin Fernandes FCA, CTA
- Audit opinion
- Clean (unmodified)
- Immediate parent
- Kingsway Asset Co Limited · England and Wales
- Ultimate parent
- Tempus Holdings 117 S.à r.l. · Luxembourg
- Accounts
- FRS 102
- Approved
- 2026-08-12, signed by Lawrence Neil Penfold
Related parties (20)
- Shiva Hotels Limited · related party · Loan and related interest · 128,190
- Shiva Hotels Limited · related party · Balance outstanding · 4,316,469
- MH Viaduct · related party · Loan and related interest · -
- MH Viaduct · related party · Balance outstanding · 261,328
- RS Finco Limited · related party · Loan and related interest · (54,728)
- RS Finco Limited · related party · Balance outstanding · (682,454)
- Lincoln Plaza Hotel Co Limited · related party · Loan and related interest · 6,273
- Lincoln Plaza Hotel Co Limited · related party · Balance outstanding · 246,380
- Shiva Hotels Heathrow Limited · related party · Loan and related interest · -
- Shiva Hotels Heathrow Limited · related party · Balance outstanding · (5,014)
- Shiva Hotels Vandon House Limited · related party · Loan and related interest · 779,189
- Shiva Hotels Vandon House Limited · related party · Balance outstanding · 1,672,889
- Kailas Hotel Vandon House LP · related party · Loan and related interest · 437,007
- Kailas Hotel Vandon House LP · related party · Balance outstanding · 437,007
- Sapphire Mezz Co Limited · related party · Loan and related interest · (37,153)
- Sapphire Mezz Co Limited · related party · Balance outstanding · (489,970)
- Abbey Care Limited · related party · Loan and related interest · (27,889)
- Abbey Care Limited · related party · Balance outstanding · (360,903)
- Abbey Care Homes Limited · related party · Loan and related interest · (30,920)
- Abbey Care Homes Limited · related party · Balance outstanding · (392,241)
Borrowings (2)
- New senior loan · from Standard Chartered Bank · £60,523,780 · 2.3% + SONIA · will mature on 15 August 2027
- Finance lease; sale and lease back transaction of the hotel · 82,608,112 · The lease term is 125 years and the Company has option to purchase the hotel at £1 (if demanded), notifying the landlord 6 months before the end of the lease term.
Directors' report (2)
- Richard James Strachan · resigned 2025-05-12
- Lawrence Neil Penfold · appointed 2025-09-01
Share classes (1)
- 100 Ordinary Share of £1.00
Principal risks (5)
- Mid to long term impact on travel due to the global events, notably uncertainty with Ukraine and the conflicts in Middle East and changes in tariff, impacting inbound travel from overseas into London
- Changes in taxes and governmental regulations that influence wages, hotel employee health care costs, prices of goods or maintenance procedures and costs
- Related party financing arrangements
- Current high level of cost of borrowing
- Current high level of inflation, especially impacting food and energy costs
Events after the year end (3)
- Richard James Strachan has resigned from the board on 12 May 2025 and Lawrence Neil Penfold was appointed to the board on 1 September 2025.
- On 4 August 2025, the Directors approved the restructuring of the Group to reduce the number of entities and its associated operating costs within the Group by winding up Kingsway Senior Hold Co Limited and Kingsway Hall Hotel Limited.
- On 22 August 2025, the existing senior loan with Bank Leumi (UK) Plc was refinanced and fully settled by entering into a loan agreement with Standard Chartered Bank (the “New senior loan”). The new senior loan amounts to £60,523,780, has 2.3% + SONIA interest and will mature on 15 August 2027.
Secured borrowing
Registered charges, lenders and security interests.
Charges and related records
1 outstanding chargesAll Assets · created 2025-08-22
—
OutstandingShow 7 satisfied / released
Floating · created 2024-02-22 · satisfied 2025-09-08
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SatisfiedFixed · created 2022-03-19 · satisfied 2025-04-10
—
SatisfiedFixed · created 2022-03-19 · satisfied 2025-04-10
—
SatisfiedAll Assets · created 2020-09-30 · satisfied 2025-09-08
—
SatisfiedFloating · created 2019-12-23 · satisfied 2025-09-08
—
SatisfiedFixed · created 2014-12-01 · satisfied 2020-01-03
—
SatisfiedFloating · created 2014-10-09 · satisfied 2020-01-03
—
Satisfied