REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 December 2023 |
for |
Hull Holdings Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
NET BOOK VALUE |
At 30 December 2023 |
At 30 December 2022 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: The Circus, Belton Park Road, Skegness, PE25 1GU |
Nature of business: |
% |
Class of shares: | holding |
Registered office: The Circus, Belton Park Road, Skegness, PE25 1GU |
Nature of business: |
% |
Class of shares: | holding |
5. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Other creditors |
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 |
Amounts owed to group undertakings |
Other creditors |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
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: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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. |