Registered number: 06439651
THE MARQUIS HOTEL GROUP LTD
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023
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THE MARQUIS HOTEL GROUP LTD
REGISTERED NUMBER: 06439651
BALANCE SHEET
AS AT 31 DECEMBER 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
___________________________
Mrs N Sheldon
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___________________________
Mr W M Sheldon
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The notes on pages 2 to 7 form part of these financial statements.
Page 1
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THE MARQUIS HOTEL GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
The Marquis Hotel Group Ltd is a private company, limited by shares, incorporated in England and Wales. The registered number is 06439651.
The registered office of the company is Henwood House, Henwood, Ashford, Kent, TN24 8DH.
The principal place of business is GSE House, Paper Lane, Willesborough, Ashford, Kent, TN24 0TS.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
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Financial Reporting Standard 102 - reduced disclosure exemptions
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The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 4 Statement of Financial Position paragraph 4.12(a)(iv);
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.41(b), 11.41(c), 11.41(e), 11.41(f), 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of GSE Cheriton Parc (Holdings) Limited as at 31 December 2023 and these financial statements may be obtained from Companies House.
An entity is a going concern unless management either intends to liquidate the entity or to cease trading, or has no realistic alternative but to do so. This must be at least, but is not limited to, twelve months from the date on which the financial statements are authorised for issue.
Since the balance sheet date the activities and assets of this entity have been hived up to its new parent undertaking. The company is not considered to be a going concern at the time the financial statements are authorised for issue.
The financial statements have been prepared on a basis other than that of going concern basis. This basis includes, where applicable, writing the company's assets down to net realiseable value, and making provisions in respect of contracts which have become onerous at the balance sheet date. There have been no significant alterations to the existing accounting policies as these are considered to give a true and fair view.
Page 2
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THE MARQUIS HOTEL GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Page 3
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THE MARQUIS HOTEL GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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The average monthly number of employees, including directors, during the year was 2 (2022 - 3).
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Investments in subsidiary companies
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Page 4
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THE MARQUIS HOTEL GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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Freehold investment property
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The carrying value of investment property reflects the net realisable value as determined by the directors.
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Amounts owed by group undertakings
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Page 5
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THE MARQUIS HOTEL GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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Creditors: Amounts falling due after more than one year
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The bank loans are secured by way of a fixed and floating charge over the property of the company.
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due 2-5 years
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Amounts falling due after more than 5 years
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Allotted, called up and fully paid
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800 (2022 - 800) Ordinary B shares of £1.00 each
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100 (2022 - 100) Ordinary C shares of £1.00 each
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100 (2022 - 100) Ordinary D shares of £1.00 each
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The company has entered into guarantees in favour of lenders to GSE Property Investments Limited. The amount outstanding at the balance sheet date subject to the guarantee was £3,500,000 (2022 - £3,500,000).
Page 6
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THE MARQUIS HOTEL GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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At 31 December 2023 the Company had capital commitments as follows:
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Contracted for but not provided in these financial statements
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Related party transactions
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At the balance sheet date £6,018,456 (2022 - £3,292,669) was due to companies under common control. The balances are interest free and repayable on demand.
At the balance sheet date £25,678 (2022 - £24,072) was due from companies under common control. The balances are interest free and repayable on demand.
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Post balance sheet events
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On 28 June 2024, the company and its subsidiaries were acquired by Contemporary Pubs Holdings Limited.
At the balance sheet date, the immediate parent undertaking is GSE Cheriton Parc Limited, a company incorporated in England and Wales.
The parent undertaking of the largest group to consolidate these financial statements is GSE Cheriton Parc (Holdings) Limited, a company incorporated in England and Wales. The registered address of the company is Henwood House, Henwood, Ashford, Kent, TN24 8DH.
The ultimate parent undertaking is GSE Cheriton Parc (Holdings) Limited, a company incorporated in England and Wales.
At the balance sheet date, the ultimate controlling parties are Mr D M Healey and Mrs M C Healey by virtue of their shareholdings in the ultimate parent undertaking.
The company is exempt from the requirement of preparing consolidated financial statements as it is a subsidiary undertaking included in consolidated financial statements for GSE Cheriton Parc (Holdings) Limited. The consolidated financial statements for GSE Cheriton Parc (Holdings) Limited are publicly available.
The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.
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In their report, the auditors emphasised the following matter without qualifying their report:
The financial statements have been prepared on a basis other than going concern. More details can be found in note 2.3.
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The audit report was signed on 6 May 2025 by Andrew John Childs FCA (Senior Statutory Auditor) on behalf of Magee Gammon Corporate Limited.
Page 7
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