Silverfin false false 31/10/2023 01/11/2022 31/10/2023 James Francis 28/05/2005 Robert Francis 17/03/2003 Robert Dennis Francis 10 October 2024 The principal activity of the company is that of running a hotel and associated activities 04698863 2023-10-31 04698863 bus:Director1 2023-10-31 04698863 bus:Director2 2023-10-31 04698863 2022-10-31 04698863 core:CurrentFinancialInstruments 2023-10-31 04698863 core:CurrentFinancialInstruments 2022-10-31 04698863 core:Non-currentFinancialInstruments 2023-10-31 04698863 core:Non-currentFinancialInstruments 2022-10-31 04698863 core:ShareCapital 2023-10-31 04698863 core:ShareCapital 2022-10-31 04698863 core:RetainedEarningsAccumulatedLosses 2023-10-31 04698863 core:RetainedEarningsAccumulatedLosses 2022-10-31 04698863 core:OtherResidualIntangibleAssets 2022-10-31 04698863 core:OtherResidualIntangibleAssets 2023-10-31 04698863 core:LandBuildings 2022-10-31 04698863 core:OtherPropertyPlantEquipment 2022-10-31 04698863 core:LandBuildings 2023-10-31 04698863 core:OtherPropertyPlantEquipment 2023-10-31 04698863 2021-10-31 04698863 bus:OrdinaryShareClass1 2023-10-31 04698863 2022-11-01 2023-10-31 04698863 bus:FilletedAccounts 2022-11-01 2023-10-31 04698863 bus:SmallEntities 2022-11-01 2023-10-31 04698863 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 04698863 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 04698863 bus:Director1 2022-11-01 2023-10-31 04698863 bus:Director2 2022-11-01 2023-10-31 04698863 bus:Director3 2022-11-01 2023-10-31 04698863 core:OtherPropertyPlantEquipment 2022-11-01 2023-10-31 04698863 2021-11-01 2022-10-31 04698863 core:LandBuildings 2022-11-01 2023-10-31 04698863 core:Non-currentFinancialInstruments 2022-11-01 2023-10-31 04698863 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 04698863 bus:OrdinaryShareClass1 2021-11-01 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04698863 (England and Wales)

FRANCIS HOTELS UK LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

FRANCIS HOTELS UK LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

FRANCIS HOTELS UK LIMITED

BALANCE SHEET

As at 31 October 2023
FRANCIS HOTELS UK LIMITED

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 9,500 9,500
Tangible assets 4 1,424,852 1,378,262
1,434,352 1,387,762
Current assets
Stocks 5 21,272 21,272
Debtors 6 135,039 113,335
Cash at bank and in hand 7 736,734 814,118
893,045 948,725
Creditors: amounts falling due within one year 8 ( 870,435) ( 764,802)
Net current assets 22,610 183,923
Total assets less current liabilities 1,456,962 1,571,685
Creditors: amounts falling due after more than one year 9 ( 759,173) ( 879,859)
Provision for liabilities 10, 11 ( 167,215) ( 112,786)
Net assets 530,574 579,040
Capital and reserves
Called-up share capital 12 100 100
Profit and loss account 530,474 578,940
Total shareholders' funds 530,574 579,040

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Francis Hotels UK Limited (registered number: 04698863) were approved and authorised for issue by the Board of Directors on 10 October 2024. They were signed on its behalf by:

Robert Dennis Francis
Director
FRANCIS HOTELS UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
FRANCIS HOTELS UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Francis Hotels UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, Cornwall, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Revenue from services is recognised as they are delivered.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets not amortised
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings depreciated over the life of the lease
Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 46 50

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 November 2022 9,500 9,500
At 31 October 2023 9,500 9,500
Accumulated amortisation
At 01 November 2022 0 0
At 31 October 2023 0 0
Net book value
At 31 October 2023 9,500 9,500
At 31 October 2022 9,500 9,500

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 November 2022 1,890,040 1,985,076 3,875,116
Additions 0 233,250 233,250
At 31 October 2023 1,890,040 2,218,326 4,108,366
Accumulated depreciation
At 01 November 2022 1,155,063 1,341,791 2,496,854
Charge for the financial year 48,270 138,390 186,660
At 31 October 2023 1,203,333 1,480,181 2,683,514
Net book value
At 31 October 2023 686,707 738,145 1,424,852
At 31 October 2022 734,977 643,285 1,378,262

5. Stocks

2023 2022
£ £
Stocks 21,272 21,272

6. Debtors

2023 2022
£ £
Trade debtors 67,702 38,429
Other debtors 67,337 74,906
135,039 113,335

7. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 36,734 13,873
Short-term deposits 700,000 800,245
736,734 814,118

8. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 142,912 152,337
Trade creditors 93,371 130,628
Taxation and social security 221,669 133,994
Obligations under finance leases and hire purchase contracts 6,125 2,084
Other creditors 406,358 345,759
870,435 764,802

9. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 739,393 869,521
Obligations under finance leases and hire purchase contracts 19,780 7,239
Other creditors 0 3,099
759,173 879,859

There are no amounts included above in respect of which any security has been given by the small entity.

10. Provision for liabilities

2023 2022
£ £
Deferred tax 167,215 112,786

11. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 112,786) ( 96,144)
Charged to the Statement of Income and Retained Earnings ( 54,429) ( 16,641)
At the end of financial year ( 167,215) ( 112,786)

12. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 ordinary shares of £ 1.00 each 100 100

13. Financial commitments

Other financial commitments

2023 2022
£ £
The total amount of financial commitments not included in the balance sheet is 812,854 603,593