REGISTERED NUMBER: 06497383 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Brayford Hotels Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

L M Hall

D A Wann

SECRETARY:

L M Hall

REGISTERED OFFICE:

The Circus

Belton Park Road

Skegness

Lincolnshire

PE25 1GU

REGISTERED NUMBER:

06497383 (England and Wales)

AUDITORS:

Wright Vigar Limited

Statutory Auditors

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

FIXED ASSETS

Tangible assets

4

22,900,000

23,726,235

CURRENT ASSETS

Debtors

5

644,447

831,607

Cash at bank

485,020

373,364

1,129,467

1,204,971

CREDITORS

Amounts falling due within one year

6

509,900

559,795

NET CURRENT ASSETS

619,567

645,176

TOTAL ASSETS LESS CURRENT LIABILITIES

23,519,567

24,371,411

CREDITORS

Amounts falling due after more than one year

7

(11,722,319

)

(11,900,767

)

PROVISIONS FOR LIABILITIES

(2,911,806

)

(3,099,609

)

NET ASSETS

8,885,442

9,371,035

CAPITAL AND RESERVES

Called up share capital

8

100

100

Revaluation reserve

9

6,354,115

7,001,637

Retained earnings

2,531,227

2,369,298

SHAREHOLDERS' FUNDS

8,885,442

9,371,035

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 17 September 2025 and were signed on its behalf by:

L M Hall - Director

D A Wann - Director

1.	STATUTORY INFORMATION

Brayford 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 as modified by the revaluation of certain assets.

Related party exemption

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - 20% on cost and 15% on cost

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical costs includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assess whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less cost to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, If the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to the income statement during the period in which they are incurred.

The company has not depreciated its freehold land and buildings as it has a policy and practice of regular maintenance and repair. The company has undertaken an impairment review at the financial reporting date and there are no indications of impairment. The directors believe that the departure is required in order to give a true and fair view.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.

Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in the consolidated profit and loss account unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

Land and

Plant and

and

Computer

Buildings

machinery

fittings

equipment

Totals

£

£

£

£

£

COST OR VALUATION

At 1 January 2024

23,400,000

713,176

819,235

166,747

25,099,158

Additions

-

31,120

91,635

4,776

127,531

Revaluations

(863,363

)

-

-

-

(863,363

)

At 31 December 2024

22,536,637

744,296

910,870

171,523

24,363,326

DEPRECIATION

At 1 January 2024

-

597,607

636,870

138,446

1,372,923

Charge for year

-

34,323

47,760

8,320

90,403

At 31 December 2024

-

631,930

684,630

146,766

1,463,326

NET BOOK VALUE

At 31 December 2024

22,536,637

112,366

226,240

24,757

22,900,000

At 31 December 2023

23,400,000

115,569

182,365

28,301

23,726,235

Cost or valuation at 31 December 2024 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2016

7,594,262

-

7,594,262

Valuation in 2019

944,087

-

944,087

Valuation in 2022

797,169

-

797,169

Valuation in 2024

(863,363

)

-

(863,363

)

Cost

14,064,482

1,826,689

15,891,171

22,536,637

1,826,689

24,363,326

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

14,064,482

14,064,482

Freehold land and buildings were valued on an open market basis on 7 March 2025 by CBRE Limited .

5.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

540

900

Other debtors

643,907

645,135

644,447

646,035

Amounts falling due after more than one year:

Amounts owed by group undertakings

-

185,572

Aggregate amounts

644,447

831,607

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

9,309

29,626

Taxation and social security

186,794

204,666

Other creditors

313,797

325,503

509,900

559,795

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

7,958,069

8,136,517

Other creditors

3,764,250

3,764,250

11,722,319

11,900,767

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Revaluation

reserve

£

At 1 January 2024

7,001,637

Revaluation

(647,522

)

At 31 December 2024

6,354,115

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kevin Shaw BSc FCA (Senior Statutory Auditor)

for and on behalf of Wright Vigar Limited

11.	CONTINGENT LIABILITIES

The debt included in the ultimate parent company Brayford Hotels Holdings Limited is secured upon the hotel property held by Brayford Hotels Limited and an unlimited cross guarantee between the company, its ultimate parent company and its fellow subsidiaries.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Brayford Hotels Holdings Limited, the registered office address is Unit 1, The Circus, Belton Park Road, Skegness, PE25 1GU.