IRIS Accounts Production v24.3.0.553 10653004 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh106530042022-12-31106530042023-12-31106530042023-01-012023-12-31106530042021-12-31106530042022-01-012022-12-31106530042022-12-3110653004ns15:EnglandWales2023-01-012023-12-3110653004ns14:PoundSterling2023-01-012023-12-3110653004ns10:Director12023-01-012023-12-3110653004ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3110653004ns10:SmallEntities2023-01-012023-12-3110653004ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3110653004ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3110653004ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3110653004ns10:FullAccounts2023-01-012023-12-3110653004ns10:OrdinaryShareClass12023-01-012023-12-3110653004ns10:Director22023-01-012023-12-3110653004ns10:Director32023-01-012023-12-3110653004ns10:RegisteredOffice2023-01-012023-12-3110653004ns5:CurrentFinancialInstruments2023-12-3110653004ns5:CurrentFinancialInstruments2022-12-3110653004ns5:ShareCapital2023-12-3110653004ns5:ShareCapital2022-12-3110653004ns5:RetainedEarningsAccumulatedLosses2023-12-3110653004ns5:RetainedEarningsAccumulatedLosses2022-12-311065300412023-01-012023-12-3110653004ns5:LandBuildings2022-12-3110653004ns5:PlantMachinery2022-12-3110653004ns5:FurnitureFittings2022-12-3110653004ns5:LandBuildings2023-01-012023-12-3110653004ns5:PlantMachinery2023-01-012023-12-3110653004ns5:FurnitureFittings2023-01-012023-12-3110653004ns5:LandBuildings2023-12-3110653004ns5:PlantMachinery2023-12-3110653004ns5:FurnitureFittings2023-12-3110653004ns5:LandBuildings2022-12-3110653004ns5:PlantMachinery2022-12-3110653004ns5:FurnitureFittings2022-12-3110653004ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3110653004ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3110653004ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 10653004 (England and Wales)















That Torquay Hotel Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






That Torquay Hotel Limited (Registered number: 10653004)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


That Torquay Hotel Limited

Company Information
for the year ended 31 December 2023







Directors: S A Brown
R S Kelvin CBE
P S Tisdale





Registered office: F4 Beehive Yard
Bath
Somerset
BA1 5BT





Registered number: 10653004 (England and Wales)





Accountants: Cooper Parry Advisory Limited
250 Fowler Avenue
Farnborough
Hampshire
GU14 7JP

That Torquay Hotel Limited (Registered number: 10653004)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 16,664,309 17,296,080

Current assets
Stocks 5,953 7,807
Debtors 5 321,565 545,739
Cash at bank and in hand 232,639 625,554
560,157 1,179,100
Creditors
Amounts falling due within one year 6 18,556,962 18,878,743
Net current liabilities (17,996,805 ) (17,699,643 )
Total assets less current liabilities (1,332,496 ) (403,563 )

Provisions for liabilities 141,669 141,669
Net liabilities (1,474,165 ) (545,232 )

Capital and reserves
Called up share capital 7 100 100
Retained earnings (1,474,265 ) (545,332 )
Shareholders' funds (1,474,165 ) (545,232 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:





S A Brown - Director


That Torquay Hotel Limited (Registered number: 10653004)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

That Torquay Hotel 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

Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and the ultimate controlling party will give continued support. Hence, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Depreciation
The director considers the depreciation policy to be a crucial accounting estimate. The expected useful life of all fixed asset categories are reviewed annually by management based on industry experience and are considered reasonable.

Management charge
Management recharges are levied by That Topco Limited, a company connected by way of common directorships. The recharge which includes salary and overhead costs is based on management's estimate of the amount of time spend on the affairs of That Torquay Hotel Limited.

Turnover
Turnover is recognised at the fair value of the consideration receivable for services provided in the normal course of business, to the date when the service is provided and is shown net of VAT and trade discounts.

That Torquay Hotel Limited (Registered number: 10653004)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.

Leasehold property125 years
Plant and machinery15 & 25 years
Fixtures, fitting and equipment12 years

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs . Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from connected companies a re initially recognised at transaction price . Financial liabilities classified as payable within one year are not amortised.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 39 (2022 - 41 ) .

That Torquay Hotel Limited (Registered number: 10653004)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


4. Tangible fixed assets
Fixtures
Leasehold Plant and and
property machinery fittings Totals
£ £ £ £
Cost
At 1 January 2023 10,602,421 3,539,616 4,134,800 18,276,837
Additions 10,001 - 51,228 61,229
Disposals (58,800 ) (4,897 ) - (63,697 )
At 31 December 2023 10,553,622 3,534,719 4,186,028 18,274,369
Depreciation
At 1 January 2023 135,649 307,836 537,272 980,757
Charge for year 84,866 198,451 345,986 629,303
At 31 December 2023 220,515 506,287 883,258 1,610,060
Net book value
At 31 December 2023 10,333,107 3,028,432 3,302,770 16,664,309
At 31 December 2022 10,466,772 3,231,780 3,597,528 17,296,080

The Royal Bank of Scotland PLC and Torbay Council have fixed and floating charges over the company's assets.

5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 2,785 143,643
Amounts owed by group undertakings 258,947 339,123
Other debtors 59,833 62,973
321,565 545,739

6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 280,791 172,424
Amounts owed to group undertakings 18,048,181 18,385,437
Taxation and social security 55,659 11,341
Other creditors 172,331 309,541
18,556,962 18,878,743

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100

8. Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund in the year and amounted to £12,328 (2022: £3,847). At the year end £nil (2022: £1,927) was outstanding and included in creditors.

That Torquay Hotel Limited (Registered number: 10653004)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


9. Related party disclosures

The company has taken advantage of the exemption available in FRS 102 from the requirement to disclose transactions with the group companies.

10. Parent company

The company's immediate parent company is That Torquay H2 Limited and the ultimate parent company is That Holdco Limited, both of which are incorporated in England and Wales.