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Company No: 04698863 (England and Wales)

FRANCIS HOTELS UK LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

FRANCIS HOTELS UK LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

FRANCIS HOTELS UK LIMITED

BALANCE SHEET

As at 31 October 2024
FRANCIS HOTELS UK LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 9,500 9,500
Tangible assets 4 1,322,805 1,424,852
1,332,305 1,434,352
Current assets
Stocks 5 21,272 21,272
Debtors 6 196,873 135,039
Cash at bank and in hand 7 674,191 736,734
892,336 893,045
Creditors: amounts falling due within one year 8 ( 905,461) ( 870,435)
Net current (liabilities)/assets (13,125) 22,610
Total assets less current liabilities 1,319,180 1,456,962
Creditors: amounts falling due after more than one year 9 ( 720,973) ( 759,173)
Provision for liabilities 10, 11 ( 155,379) ( 167,215)
Net assets 442,828 530,574
Capital and reserves
Called-up share capital 12 100 100
Profit and loss account 442,728 530,474
Total shareholders' funds 442,828 530,574

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Francis Hotels UK Limited (registered number: 04698863) were approved and authorised for issue by the Board of Directors on 25 March 2025. They were signed on its behalf by:

J Francis
Director
FRANCIS HOTELS UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
FRANCIS HOTELS UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

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

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 48 46

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 November 2023 9,500 9,500
At 31 October 2024 9,500 9,500
Accumulated amortisation
At 01 November 2023 0 0
At 31 October 2024 0 0
Net book value
At 31 October 2024 9,500 9,500
At 31 October 2023 9,500 9,500

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 November 2023 1,890,040 2,218,326 4,108,366
Additions 0 84,828 84,828
At 31 October 2024 1,890,040 2,303,154 4,193,194
Accumulated depreciation
At 01 November 2023 1,203,333 1,480,181 2,683,514
Charge for the financial year 48,270 138,605 186,875
At 31 October 2024 1,251,603 1,618,786 2,870,389
Net book value
At 31 October 2024 638,437 684,368 1,322,805
At 31 October 2023 686,707 738,145 1,424,852

5. Stocks

2024 2023
£ £
Stocks 21,272 21,272

6. Debtors

2024 2023
£ £
Trade debtors 163,980 67,702
Other debtors 32,893 67,337
196,873 135,039

7. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 74,191 36,734
Short-term deposits 600,000 700,000
674,191 736,734

8. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 94,824 142,912
Trade creditors 106,663 93,371
Taxation and social security 289,782 221,669
Obligations under finance leases and hire purchase contracts 6,086 6,125
Other creditors 408,106 406,358
905,461 870,435

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

2024 2023
£ £
Bank loans 707,241 739,393
Obligations under finance leases and hire purchase contracts 13,732 19,780
720,973 759,173

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

10. Provision for liabilities

2024 2023
£ £
Deferred tax 155,379 167,215

11. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 167,215) ( 112,786)
Credited/(charged) to the Statement of Income and Retained Earnings 11,836 ( 54,429)
At the end of financial year ( 155,379) ( 167,215)

12. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 ordinary shares of £ 1.00 each 100 100

13. Financial commitments

Other financial commitments

2024 2023
£ £
The total amount of financial commitments not included in the balance sheet is 768,854 812,854