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REGISTERED NUMBER: 10365998 (England and Wales)






















Financial Statements

for the Year Ended 30 December 2023

for

Hull Holdings Limited

Hull Holdings Limited (Registered number: 10365998)






Contents of the Financial Statements
for the Year Ended 30 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Hull Holdings Limited

Company Information
for the Year Ended 30 December 2023







DIRECTORS: L M Hall
D A Wann





REGISTERED OFFICE: The Circus
Belton Park Road
Skegness
Lincolnshire
PE25 1GU





REGISTERED NUMBER: 10365998 (England and Wales)





AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Hull Holdings Limited (Registered number: 10365998)

Balance Sheet
30 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 200 200

CURRENT ASSETS
Debtors 5 16,278,047 15,755,504
Cash at bank 157,752 255,210
16,435,799 16,010,714
CREDITORS
Amounts falling due within one year 6 1,206,419 12,449,769
NET CURRENT ASSETS 15,229,380 3,560,945
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,229,580

3,561,145

CREDITORS
Amounts falling due after more than one
year

7

15,667,108

3,949,209
NET LIABILITIES (437,528 ) (388,064 )

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings (438,528 ) (389,064 )
SHAREHOLDERS' FUNDS (437,528 ) (388,064 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 31 July 2024 and were signed on its behalf by:




L M Hall - Director



D A Wann - Director


Hull Holdings Limited (Registered number: 10365998)

Notes to the Financial Statements
for the Year Ended 30 December 2023

1. STATUTORY INFORMATION

Hull Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investments in subsidiaries
Investments in subsidiaries are initially valued at cost and reviewed annually for signs of impairment. If an impairment loss is identified, this is recognised immediately in the income statement and the value of the investment is reduced accordingly.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties and loans with related parties.

All financial assets and liabilities are initially measured at transaction price and are subsequently measured at amortised cost.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the amount that the company would receive for the asset if it were to be sold at the statement of financial position date.

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.

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.

Going concern
The company has made a loss for the year of £49,464 (2022: £61,490) and has net liabilities of £437,528 (2022: £388,064). The directors have ascertained that Brayford Hotels Holdings Limited, the ultimate parent undertaking, intends and has the ability to continue it's financial support to the company for a period of 12 months from the date of approval of these financial statements. The directors believe the company and wider group headed by Brayford Hotels Holdings Limited is well placed to manage the business risks successfully and will continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

Hull Holdings Limited (Registered number: 10365998)

Notes to the Financial Statements - continued
for the Year Ended 30 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 31 December 2022
and 30 December 2023 200
NET BOOK VALUE
At 30 December 2023 200
At 30 December 2022 200

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Brayford Hotel Hull Ltd
Registered office: The Circus, Belton Park Road, Skegness, PE25 1GU
Nature of business: Hotels & Accommodation
%
Class of shares: holding
Ordinary 100.00

Ferensway Hotels Ltd
Registered office: The Circus, Belton Park Road, Skegness, PE25 1GU
Nature of business: Other Letting
%
Class of shares: holding
Ordinary 100.00

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Other debtors 5,438,222 5,463,557

Amounts falling due after more than one year:
Amounts owed by group undertakings 10,839,825 10,291,947

Aggregate amounts 16,278,047 15,755,504

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 432,167 11,691,549
Trade creditors 13 -
Other creditors 774,239 758,220
1,206,419 12,449,769

Hull Holdings Limited (Registered number: 10365998)

Notes to the Financial Statements - continued
for the Year Ended 30 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 10,827,215 -
Amounts owed to group undertakings 4,639,893 3,749,209
Other creditors 200,000 200,000
15,667,108 3,949,209

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 11,259,382 11,691,549

The debt is secured upon the hotel property held by the subsidiary Ferensway Hotels Limited and an unlimited cross guarantee between the company, its ultimate parent company and its fellow subsidiaries. There are also personal guarantees to the value of £800,000 given by the directors L M Hall and D A Wann.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kevin Shaw BSc FCA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Brayford Hotel Holdings Limited the registered office address is Unit 1, The Circus, Belton Park Road, Skegness, PE25 1GU.