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REGISTERED NUMBER: 01820911 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024

FOR

GRAND HOTEL SWANAGE LIMITED(THE)

GRAND HOTEL SWANAGE LIMITED(THE) (REGISTERED NUMBER: 01820911)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GRAND HOTEL SWANAGE LIMITED(THE)

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTORS: Mr J D Kleiner
Mr W P Kleiner
Mr R Roman





REGISTERED OFFICE: 12 Burlington Road
Swanage
Dorset
BH19 1LU





REGISTERED NUMBER: 01820911 (England and Wales)

GRAND HOTEL SWANAGE LIMITED(THE) (REGISTERED NUMBER: 01820911)

BALANCE SHEET
31ST MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,069,994 1,120,036

CURRENT ASSETS
Stocks 11,915 11,855
Debtors 5 1,009,510 1,193,239
Cash at bank and in hand 86,052 200,050
1,107,477 1,405,144
CREDITORS
Amounts falling due within one year 6 456,005 517,312
NET CURRENT ASSETS 651,472 887,832
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,721,466

2,007,868

CREDITORS
Amounts falling due after more than one
year

7

(1,208,243

)

(1,481,931

)

PROVISIONS FOR LIABILITIES (62,767 ) (68,591 )
NET ASSETS 450,456 457,346

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 450,356 457,246
SHAREHOLDERS' FUNDS 450,456 457,346

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 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.

GRAND HOTEL SWANAGE LIMITED(THE) (REGISTERED NUMBER: 01820911)

BALANCE SHEET - continued
31ST MAY 2024


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 26th February 2025 and were signed on its behalf by:





Mr J D Kleiner - Director


GRAND HOTEL SWANAGE LIMITED(THE) (REGISTERED NUMBER: 01820911)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024


1. STATUTORY INFORMATION

Grand Hotel Swanage Limited(The) 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.

The financial statements are presented in £ Sterling which is the functional currency of the company and are rounded to the nearest £.

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.

The accounts have been prepared on the going concern basis on the understanding that:

a) The company will continue to receive the support of the creditors.
b) The company will manage to trade with sufficient profits.

Turnover
Turnover represents the revenue generated by the company's operating activities, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Improvements and leasehold property are not depreciated due to the high residual value, as the company carries out regular repairs and maintenance which means that the assets maintain their value.

An impairment review has been carried out on the improvements and leasehold property as a whole, which indicates that non-depreciation is acceptable.

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

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.


GRAND HOTEL SWANAGE LIMITED(THE) (REGISTERED NUMBER: 01820911)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 27 (2023 - 26 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold and
property fittings Totals
£    £    £   
COST
At 1st June 2023 685,748 1,404,175 2,089,923
Additions - 18,710 18,710
At 31st May 2024 685,748 1,422,885 2,108,633
DEPRECIATION
At 1st June 2023 - 969,887 969,887
Charge for year - 68,752 68,752
At 31st May 2024 - 1,038,639 1,038,639
NET BOOK VALUE
At 31st May 2024 685,748 384,246 1,069,994
At 31st May 2023 685,748 434,288 1,120,036

Improvements and leasehold property are not depreciated due to the high residual value, as the company carries out regular repairs and maintenance which means that the assets maintain their value.

An impairment review has been carried out on the improvements and leasehold property as a whole, which indicates that non-depreciation is acceptable.

GRAND HOTEL SWANAGE LIMITED(THE) (REGISTERED NUMBER: 01820911)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 4,730 7,149
Amounts owed by group undertakings 403,792 380,992
Other debtors 32,820 28,147
441,342 416,288

Amounts falling due after more than one year:
Amounts owed by group undertakings 568,168 776,951

Aggregate amounts 1,009,510 1,193,239

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 73,061 54,945
Hire purchase contracts - 2,089
Trade creditors 121,157 183,780
Taxation and social security 52,942 59,104
Other creditors 208,845 217,394
456,005 517,312

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 796,715 880,509
Other creditors 411,528 601,422
1,208,243 1,481,931

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 503,684 572,430

GRAND HOTEL SWANAGE LIMITED(THE) (REGISTERED NUMBER: 01820911)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 869,776 935,454
Other loans 100,000 100,000
969,776 1,035,454

The bank loans and overdrafts and £100,000 of other loans are secured by legal charges.

9. RELATED PARTY DISCLOSURES

TGHS LTD owns 100% of the shares in the company.
Transactions and balances with TGHS are as follows:
2024 2023
£    £   
Management fees charged by TGHS 39,900 30,000
Amount due from TGHS 971,960 1,157,943
Interest has been charged on the loan at a rate of 2.5%

Mr JD Kleiner is a director of the company.
Transactions and balances with Mr JD Kleiner are as follows:
2024 2023
£    £   
Amount owed by the company to the director 411,528 413,425
No interest has been charged on the amount owed to the director.

Mr J D Kleiner, a director, has given a personal guarantee of £100,000.

The company and parent company, as a group, had aggregate debts of £648,153 (2023: £640,739) owed to Mr J D Kleiner.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr J D Kleiner.

The ultimate controlling party is Mr J D Kleiner.

At the end of the year the company was controlled and ultimately controlled by Mr J D Kleiner by virtue of his shareholding in the parent company at that time.