CAROLIA WESTMINSTER HOTEL LIMITED

• ⚠

  Material uncertainty over going concern

  While directors have a reasonable expectation the Aareal loan and Shareholder loan will be successfully refinance before maturity date, this has not yet been formally arranged. The Company previously successfully completed refinancing in 2022 and February 2025. In August 2024, prior to the Aareal refinancing, the Company received indicative terms from Aareal offering a three-year facility plus two one-year extension options. Based on previous experience, this is considered a strong indication of Aareal's longer-term intention to continue providing financing to the Company. The directors are confident the Aareal loan and Shareholder loan facilities will be refinanced before their maturity date and as such continue to prepare the accounts on a going concern basis. However, as negotiations to refinance these facilities have not yet commenced there is considered to be a material uncertainty which may cast doubt on the Company's ability to continue as a going concern, and therefore that the Company may be unable to realise its assets and discharge its liabilities in the normal course of business. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

• ◆

  2 PSCs ceased in last 24 months

  Significant control changed hands — see the Ownership section.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

PKF Littlejohn LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“While directors have a reasonable expectation the Aareal loan and Shareholder loan will be successfully refinance before maturity date, this has not yet been formally arranged. The Company previously successfully completed refinancing in 2022 and February 2025. In August 2024, prior to the Aareal refinancing, the Company received indicative terms from Aareal offering a three-year facility plus two one-year extension options. Based on previous experience, this is considered a strong indication of Aareal's longer-term intention to continue providing financing to the Company. The directors are confident the Aareal loan and Shareholder loan facilities will be refinanced before their maturity date and as such continue to prepare the accounts on a going concern basis. However, as negotiations to refinance these facilities have not yet commenced there is considered to be a material uncertainty which may cast doubt on the Company's ability to continue as a going concern, and therefore that the Company may be unable to realise its assets and discharge its liabilities in the normal course of business. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.”

Significant events

• “On 14 February 2025, the Company and Aareal Bank entered into a supplemental facility agreement extending the loan maturity date to 13 February 2026.”
• “With effect from 14 February 2025, the maturity date of the Company's existing loan with its immediate parent, CW Investor S.a r.l. ("Shareholder") was also extended to 13 February 2026.”
• “On 31 March 2025 the Company made a £3.5m repayment of accrued interest on the loan with CW Investor S.a.r.l.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

15

last 12 months

Capital events

0

last 24 months

Officers appointed

3

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +4.4%

  £31,384,000 → £32,755,000

• Cash

  -26.3%

  £9,427,000 → £6,952,000

• Net assets

  -1.6%

  -£35,716,000 → -£36,304,000

• Employees

  -11.1%

  126 → 112

• Operating profit

  +28.7%

  £8,287,000 → £10,662,000

• Profit before tax

  +140.5%

  -£1,747,000 → £707,000

• Wages

  -4.7%

  £3,222,000 → £3,071,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers