PROPCO A & O HOSTEL AND HOTEL BRIGHTON LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
PROPCO A & O HOSTEL AND HOTEL BRIGHTON LTD
COMPANY INFORMATION
Directors
A J Bleeker
(Appointed 26 April 2024)
O Winter
(Appointed 26 April 2024)
Company number
15682559 (England and Wales)
Registered office
Rivermead House
7 Lewis Court
Grove Park
Leicester
LE19 1SD
Auditor
Ashworth Moulds
11 Nicholas Street
Burnley
Lancashire
BB11 2AL
PROPCO A & O HOSTEL AND HOTEL BRIGHTON LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
PROPCO A & O HOSTEL AND HOTEL BRIGHTON LTD
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
Notes
£
£
Fixed assets
Tangible assets
3
5,781,988
Current assets
Stocks
6,642
Debtors
4
261,513
Cash at bank and in hand
78,643
346,798
Creditors: amounts falling due within one year
5
(6,594,781)
Net current liabilities
(6,247,983)
Net liabilities
(465,995)
Capital and reserves
Called up share capital
6
1
Profit and loss reserves
(465,996)
Total equity
(465,995)
The notes on pages pages 2 to 6 form an integral part of these financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 1 August 2025 and are signed on its behalf by:
A J Bleeker
Director
Company registration number 15682559 (England and Wales)
PROPCO A & O HOSTEL AND HOTEL BRIGHTON LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Propco A & O Hostel and Hotel Brighton Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Rivermead House, 7 Lewis Court, Grove Park, Leicester, LE19 1SD.
1.1
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The directors have reviewed their expectations of future trading performance, the budgets for 2025 and 2026 and the cash flow forecasts and projections. The directors are satisfied that the company will be able to operate within the level of its facilities and those provided by the parent undertaking for the foreseeable future. After reviewing all areas of the business, together with the principal risks and uncertainties, and taking into account the provision of financial support from the parent company, the directors are satisfied that the financial statements can continue to be prepared on a going concern basis. The cash flow forecast is continuously monitored. true
1.3
Turnover
Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.
Revenue includes rooms revenue and food and beverage sales from the operation of the hostel.
Sale of accommodation
Revenue is recognised when the guests stay. When payment is received at the time of booking, prior to arrival date, a liability for prepaid room purchases is recognised and held on the Balance Sheet.
Sale of food and beverages
Revenue is recognised when the items are purchased. Payment is made on the same day and consequently there are no contract assets or liabilities.
1.4
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 on the following bases:
Long leasehold land and buildings
2% straight line basis
Fixtures and fittings
20% straight line basis
PROPCO A & O HOSTEL AND HOTEL BRIGHTON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
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.
A financial instrument is a contract giving rise to a financial asset (such as trade and other debtors, cash and bank balances) or a financial liability (such as trade and other creditors, bank and other loans, hire purchase and lease creditors) or an equity instrument (such as ordinary or preference shares).
Financial instruments are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument.
All the company's financial instruments are basic financial instruments and are recognised at amortised cost using the effective interest method.
Amortised cost: the original transaction value, less amounts settled, less any adjustment for impairment.
Effective interest method: where a financial instrument falls due more than 12 months after the balance sheet date and is subject to a rate of interest which is below a market rate, the original transaction value is discounted using a market rate of interest to give the net present value of future cash flows.
Derecognition of financial assets
Financial assets cease to be recognised only when the contractual rights to the cash flows expire, or when substantially all the risks and rewards of ownership are transferred to another entity.
Financial liabilities cease to be recognised when and only when the company's obligations are discharged, cancelled, or they expire.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
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.
PROPCO A & O HOSTEL AND HOTEL BRIGHTON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
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.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to reserves, in which case the deferred tax is also dealt with in reserves.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
20
There are 2 appointed directors, not directly employed.
PROPCO A & O HOSTEL AND HOTEL BRIGHTON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 5 -
3
Tangible fixed assets
Long leasehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 26 April 2024
Additions
5,807,047
24,344
5,831,391
At 31 December 2024
5,807,047
24,344
5,831,391
Depreciation and impairment
At 26 April 2024
Depreciation charged in the period
48,392
1,011
49,403
At 31 December 2024
48,392
1,011
49,403
Carrying amount
At 31 December 2024
5,758,655
23,333
5,781,988
Security
The company has provided security by a fixed and floating charge over its assets, in connection with the loan finance of fellow group undertakings.
4
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
537
Amounts owed by group undertakings
93,791
Other debtors
144,458
Prepayments and accrued income
22,727
261,513
5
Creditors: amounts falling due within one year
2024
£
Trade creditors
45,176
Amounts owed to group undertakings
6,268,307
Taxation and social security
18,364
Other creditors
36,282
Accruals and deferred income
226,652
6,594,781
PROPCO A & O HOSTEL AND HOTEL BRIGHTON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 6 -
6
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary share of £1 each
1
1
On incorporation on 26 April 2024, the company issued 1 subscriber share at par.
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
Opinion
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the period then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Senior Statutory Auditor:
Mark Holmes BA FCA
Statutory Auditor:
Ashworth Moulds
Date of audit report:
1 August 2025
8
Parent company
Alpha Holdings S.a.r.l. is the parent company of the smallest group for which consolidated financial statements are prepared. Alpha Holdings S.a.r.l. is incorporated in Luxembourg.
A copy of Alpha Holdings S.a.r.l.'s financial statements can be obtained from Rue Guillaume Kroll 12E, 1882 Luxembourg.