IRIS Accounts Production v24.3.2.46 11813561 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 true false true false false true false Ordinary 0.10000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh118135612023-03-31118135612024-03-31118135612023-04-012024-03-31118135612022-03-31118135612022-04-012023-03-31118135612023-03-3111813561ns15:EnglandWales2023-04-012024-03-3111813561ns14:PoundSterling2023-04-012024-03-3111813561ns10:Director12023-04-012024-03-3111813561ns10:Director22023-04-012024-03-3111813561ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3111813561ns10:SmallEntities2023-04-012024-03-3111813561ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3111813561ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3111813561ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3111813561ns10:FullAccounts2023-04-012024-03-3111813561ns10:OrdinaryShareClass22023-04-012024-03-3111813561ns10:Director32023-04-012024-03-3111813561ns10:CompanySecretary12023-04-012024-03-3111813561ns10:RegisteredOffice2023-04-012024-03-3111813561ns5:CurrentFinancialInstruments2024-03-3111813561ns5:CurrentFinancialInstruments2023-03-3111813561ns5:Non-currentFinancialInstruments2024-03-3111813561ns5:Non-currentFinancialInstruments2023-03-3111813561ns5:ShareCapital2024-03-3111813561ns5:ShareCapital2023-03-3111813561ns5:SharePremium2024-03-3111813561ns5:SharePremium2023-03-3111813561ns5:RetainedEarningsAccumulatedLosses2024-03-3111813561ns5:RetainedEarningsAccumulatedLosses2023-03-3111813561ns5:CostValuation2023-03-3111813561ns5:Subsidiary12023-04-012024-03-31118135611ns5:Subsidiary12023-04-012024-03-3111813561ns5:Subsidiary12024-03-3111813561ns5:Subsidiary12023-03-3111813561ns5:Subsidiary12022-04-012023-03-3111813561ns5:CurrentFinancialInstruments2023-04-012024-03-3111813561ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-03-3111813561ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-3111813561ns5:Non-currentFinancialInstruments2023-04-012024-03-3111813561ns10:OrdinaryShareClass22024-03-31
REGISTERED NUMBER: 11813561 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

PORT HOTELS LIMITED

PORT HOTELS LIMITED (REGISTERED NUMBER: 11813561)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PORT HOTELS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: P M Cadwallader
I R Douglas
C H J Douglas





SECRETARY:





REGISTERED OFFICE: 29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU





BUSINESS ADDRESS: 11-12 Royal Parade
Eastbourne
East Sussex
BN22 7AR





REGISTERED NUMBER: 11813561 (England and Wales)





ACCOUNTANTS: Advanta
Chartered Accountants
29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU

PORT HOTELS LIMITED (REGISTERED NUMBER: 11813561)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 100 100

CURRENT ASSETS
Debtors 5 1,306,606 1,173,091

CREDITORS
Amounts falling due within one year 6 321,680 265,923
NET CURRENT ASSETS 984,926 907,168
TOTAL ASSETS LESS CURRENT
LIABILITIES

985,026

907,268

CREDITORS
Amounts falling due after more than one
year

7

484,982

447,979
NET ASSETS 500,044 459,289

CAPITAL AND RESERVES
Called up share capital 8 2,000 2,000
Share premium 331,018 331,018
Retained earnings 167,026 126,271
SHAREHOLDERS' FUNDS 500,044 459,289

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

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

PORT HOTELS LIMITED (REGISTERED NUMBER: 11813561)

BALANCE SHEET - continued
31 MARCH 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 27 February 2025 and were signed on its behalf by:




P M Cadwallader - Director



I R Douglas - Director


PORT HOTELS LIMITED (REGISTERED NUMBER: 11813561)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Port Hotels 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.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

The validity of the going concern basis depends upon the continued support of the company directors and bankers. The directors confirm that support will continue.

Preparation of consolidated financial statements
The financial statements contain information about Port Hotels Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents interest receivable on loans made to the subsidiary company.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

PORT HOTELS LIMITED (REGISTERED NUMBER: 11813561)

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


4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 100
NET BOOK VALUE
At 31 March 2024 100
At 31 March 2023 100

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

Port Hotel Eastbourne Limited
Registered office: 29 Gildredge Road, Eastbourne, East Sussex, BN21 4RU
Nature of business: Hotel accommodation
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (208,949 ) (61,627 )
Loss for the year (164,057 ) (236,474 )

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 1,306,606 1,173,091

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax - 608
Directors' current accounts 59,031 46,129
Accrued expenses 262,649 219,186
321,680 265,923

Included within creditors are loans from directors totalling £59,031 (2023: £46,129). These loans are interest free, unsecured and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Preference shares at net present value 154,668 154,668
Preference shares 314 314
Directors' loan accounts 330,000 292,997
484,982 447,979

PORT HOTELS LIMITED (REGISTERED NUMBER: 11813561)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Preference shares 314 314

Under FRS 102, long term creditors comprise of the finance element of any preference shares.

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
20,000 Ordinary shares 10p 2,000 2,000

9. RELATED PARTY DISCLOSURES

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.

During the year the company made net loan repayments of £Nil (2023: £1,150,000) to two directors. The loans are not due to be repaid before 31 March 2024. The rate of interest is LIBOR plus 5% (capped at 8%). Total accrued interest at the balance sheet date was £260,999 (2023: £217,535).

During the year the company received net loan repayments of £Nil (2023: £1,150,000) from its subsidiary company. The interest rate is LIBOR plus 5% (capped at 8%). The loan and accumulated interest is not due to be repaid before 31 March 2025. Interest of £99,177 (2023: £147,986) has been charged in the year.