Company Registration No. 05678987 (England and Wales)
The Manchester Abode Limited
Financial statements
for the period ended 29 December 2024
Pages for filing with the registrar
The Manchester Abode Limited
Contents
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 9
The Manchester Abode Limited
Statement of financial position
As at 29 December 2024
1
29 December 2024
31 December 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
7,135,773
9,728,926
Current assets
Stocks
6
13,629
17,215
Debtors
7
71,506
63,009
Cash at bank and in hand
118,506
244,357
203,641
324,581
Creditors: amounts falling due within one year
8
(2,869,414)
(2,632,707)
Net current liabilities
(2,665,773)
(2,308,126)
Net assets
4,470,000
7,420,800
Capital and reserves
Called up share capital
9
3,250,001
3,250,001
Share premium account
9,750,000
9,750,000
Profit and loss reserves
(8,530,001)
(5,579,201)
Total equity
4,470,000
7,420,800

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 24 June 2025 and are signed on its behalf by:
Shelley Wadey
Director
Company Registration No. 05678987
The Manchester Abode Limited
Statement of changes in equity
For the period ended 29 December 2024
2
Share capital
Share premium account
Profit and loss reserves
Total
£
£
£
£
Balance at 2 January 2023
3,250,001
9,750,000
(5,245,935)
7,754,066
Period ended 31 December 2023:
Loss and total comprehensive income
-
-
(333,266)
(333,266)
Balance at 31 December 2023
3,250,001
9,750,000
(5,579,201)
7,420,800
Period ended 29 December 2024:
Loss and total comprehensive income
-
-
(2,950,800)
(2,950,800)
Balance at 29 December 2024
3,250,001
9,750,000
(8,530,001)
4,470,000
The Manchester Abode Limited
Notes to the financial statements
For the period ended 29 December 2024
3
1
Accounting policies
Company information

The Manchester Abode Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Queen Square, Bath, BA1 2HA.

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.

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 £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements of the company are drawn up to either a 52 or 53 week period each year which is in accordance with the company management accounts. This is in line with the Companies Act 2006 as the period end is never more than seven days before or after the year end date of 31 December each year.

The Manchester Abode Limited constitutes a qualifying entity, as set out within FRS 102 Section 1 "Scope", due to it being a 100% subsidiary of Andrew Brownsword Hotels Limited, and is included within the consolidated accounts of that company, which can be located at Companies House.

As the company meets the criteria of a qualifying entity, it has taken advantage of the following exemptions available to it:

- The requirements of Section 7 "Statement of Cash Flows" and Section 3 "Financial Statement Presentation" paragraph 3.17(d);

- The requirements of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" outlined in paragraph 1.12(c); and

- The requirement of Section 33 "Related Party Disclosures" paragraph 33.7.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, particularly given that the ultimate parent company, The Bath Priory Limited, is prepared to fully support the company. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, value added tax and other sales taxes or duty. The following criteria must be met before revenue is recognised:

Accommodation revenue is recognised when a room is occupied; food and beverage revenue is recognised when food and beverages are sold; sundry and other revenues, consisting of items such as room hire, are recognised at the point of sale.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

The Manchester Abode Limited
Notes to the financial statements (continued)
For the period ended 29 December 2024
1
Accounting policies (continued)
4

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Land and buildings freehold
Nil - 20% straight line
Plant and machinery
5 - 20% straight line
Fixtures, fittings & equipment
10 - 25% straight line
Computer equipment
20 - 33% straight line

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.

In accordance with normal practice in the UK hotel industry, no depreciation is provided on the company's freehold property acquired at cost. It is the company's practice to maintain its property in a continual state of sound repair and to make improvements thereto from time to time. Accordingly, the directors consider that the life of the asset and residual value, based on the price prevailing at the time of acquisition, is such that its depreciation would be insignificant.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Stocks

Stocks comprise raw materials and finished goods which are food and beverages respectively. Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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.

The Manchester Abode Limited
Notes to the financial statements (continued)
For the period ended 29 December 2024
1
Accounting policies (continued)
5
1.7
Cash at bank and in hand

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.

1.8
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.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as 'creditors: amounts falling due within one year' if payment is due within one year or less. If not, they are presented as 'creditors: amounts falling due after more than one year'. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities classified as payable within one year are not amortised.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

The Manchester Abode Limited
Notes to the financial statements (continued)
For the period ended 29 December 2024
1
Accounting policies (continued)
6
1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.10
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.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Contributions in respect of the company's defined contribution pension scheme are charged to the profit and loss account for the period in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the period are shown either as accruals or prepayments at the period end.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions.

2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The Manchester Abode Limited
Notes to the financial statements (continued)
For the period ended 29 December 2024
7
3
Operating loss
Period ended
Period ended
29 December 2024
31 December 2023
Operating loss for the period is stated after charging:
£
£
Exchange differences apart from those arising on financial instruments measured at fair value through profit or loss
-
0
144
Fees payable to the company's auditor for the audit of the company's financial statements
8,530
8,200
Depreciation of owned tangible fixed assets
159,820
204,408
Impairment of owned tangible fixed assets
2,479,079
-
0
4
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

Period ended
Period ended
29 December 2024
31 December 2023
Number
Number
Employees
35
35
5
Tangible fixed assets
Land and buildings freehold
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
£
£
Cost
At 1 January 2024
11,224,682
1,490,433
1,729,952
142,366
14,587,433
Additions
-
0
21,984
21,399
2,362
45,745
Disposals
-
0
-
0
-
0
(544)
(544)
At 29 December 2024
11,224,682
1,512,417
1,751,351
144,184
14,632,634
Depreciation and impairment
At 1 January 2024
1,666,092
1,366,151
1,692,563
133,701
4,858,507
Depreciation charged in the period
92,721
34,760
27,653
4,686
159,820
Impairment losses
2,479,079
-
0
-
0
-
0
2,479,079
Eliminated in respect of disposals
-
0
-
0
-
0
(545)
(545)
At 29 December 2024
4,237,892
1,400,911
1,720,216
137,842
7,496,861
Carrying amount
At 29 December 2024
6,986,790
111,506
31,135
6,342
7,135,773
At 31 December 2023
9,558,590
124,282
37,389
8,665
9,728,926
The Manchester Abode Limited
Notes to the financial statements (continued)
For the period ended 29 December 2024
8
6
Stocks
29 December 2024
31 December 2023
£
£
Raw materials and consumables
5,791
5,880
Finished goods and goods for resale
7,838
11,335
13,629
17,215
7
Debtors
29 December 2024
31 December 2023
Amounts falling due within one year:
£
£
Trade debtors
7,297
5,749
Prepayments and accrued income
64,209
57,260
71,506
63,009
8
Creditors: amounts falling due within one year
As restated
29 December 2024
31 December 2023
£
£
Trade creditors
106,824
70,377
Amounts owed to group undertakings
2,530,000
2,330,000
Taxation and social security
94,879
98,331
Other creditors
3,923
5,325
Accruals and deferred income
133,788
128,674
2,869,414
2,632,707

Amounts owed to group undertakings are repayable on demand with interest payable at 1% over base rate per annum.

The prior period figures are restated due to a reallocation of creditor balances between other creditors and deferred income.
9
Share capital
29 December 2024
31 December 2023
29 December 2024
31 December 2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 25p each
13,000,004
13,000,004
3,250,001
3,250,001
The Manchester Abode Limited
Notes to the financial statements (continued)
For the period ended 29 December 2024
9
Share capital (continued)
9

Shares rank equally for voting purposes. On a show of hands, each member shall have one vote and on a poll each member shall have one vote per share held.

10
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 was unqualified.

Senior Statutory Auditor:
Michael Strong
Statutory Auditors:
Saffery LLP
Date of audit report:
24 June 2025
11
Ultimate controlling party

The Company's immediate parent company is Andrew Brownsword Hotels Limited, which is a wholly-owned subsidiary of The Bath Priory Limited.

The Company's ultimate parent company is The Bath Priory Limited, which is incorporated in England and Wales. The ultimate controlling party is Alessandra Brownsword-Matthews, by virtue of her shareholding in the ultimate parent company.

12
Contingent assets

As at the date of signing the financial statements, the company is undergoing a claim against various financial institutions in relation to finance charges. Although settlement is considered probable, the expected settlement cannot be reliably estimated at this stage.

13
Related party transactions

No guarantees have been given or received.

The company has taken advantage of the exemption available in FRS 102 section 33 "Related Party Disclosures" whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.

All balances due to the parent company and subsidiaries of the group are disclosed in note 12.

Andrew Brownsword owns and controls Paxton & Whitfield Limited. During the period, Paxton & Whitfield Limited made sales to The Manchester Abode Limited totalling £nil (period ended 31 December 2023: £84). A balance of £nil (period ended 31 December 2023: £nil) was outstanding at the period end.

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