REGISTERED NUMBER: 00875727 (England and Wales)

BLUNSDON HOUSE HOTEL LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

to

6

Statement of Comprehensive Income

7

Statement of Financial Position

8

Statement of Changes in Equity

9

Statement of Cash Flows

10

Notes to the Statement of Cash Flows

11

Notes to the Financial Statements

12

to

21

DIRECTORS:

Mr J Clifford

Mrs C A Clifford

Mr B Clifford

Mr C P Clifford

SECRETARY:

Mr J Clifford

REGISTERED OFFICE:

Blunsdon House Hotel

Blunsdon

SWINDON

Wiltshire

SN26 7AS

REGISTERED NUMBER:

00875727 (England and Wales)

AUDITORS:

Morris Owen

Statutory Auditors

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

BANKERS:

Nat West Bank Plc

24-30 The Parade

Swindon

Wiltshire

SN1 5NW

REVIEW OF BUSINESS

2025 represented a relatively stable trading period, with less global upheaval and international Geo-political headwinds easing. This calm was reflected by a strong growth in overall sales. The benefit of this global calm and sales growth have been largely unravelled by UK political decisions. The marked increase in National insurance contributions, wage cost and general business costs have decimated hospitality sector probability and stymied recovery.

The year saw more cautious but still healthy levels of investment in the property. Our room refurbishment is progressing on a rolling basis. A further ten guest bedrooms have been completed. Major investment has been temporarily paused due to the change of rate of business rate relief and the family nature of our business.

The hotel solar array has been online since October and due to a very hot and sunny UK weather has outperformed all initial estimates The major investment of 2024 has reduced our electricity costs by approximately 25% for the year. We anticipate this array will continue generate approximately 20% of the hotels global usage over it's 25 year lifespan. It will improve profitability whilst sheltering the business from any future price shocks.

Our public areas continue to be of excellent standard, something well reflected in our continued overwhelming positive guest feedback.

PRINCIPAL RISKS AND UNCERTAINTIES

The UK government has inflicted significant, avoidable damage to the sector as a direct result of punitive taxation and cost-imposition on the business. The cost of labour in particular is now at critical levels, any further increase would almost certainly lead to job losses. This represents the most significant challenge for our business.

Inflation remains a concern. It is high and persistent, particularly for commodities relating to hospitality specifically food and guest consumables. We anticipate it will remain high in response to the planned government expenditure.

Insurance costs have risen significantly and cannot be offset or avoided.

The war in Europe continues and this is likely to affect our ability to accurately plan future energy expenditure.

KEY PERFORMANCE INDICATORS

We will use the following indicators to measure and manage the performance of the business:

- Turnover as compared to the previous year and budget

- Occupancy levels, RevPar, Average room rate

- Operational wages and salary costs

- Gross margin percentages

- Control of overheads vs budget

Other than gross profit margins, the remaining criteria will continue to be applied as being relevant measures of the performance of the business, but the directors do not feel comfortable to publish any information as it is perceived that disclosure could provide an advantage to our competitors and so would be prejudicial to the interests of the company.

ON BEHALF OF THE BOARD:

Mr C P Clifford - Director

15th September 2025

The directors present their report with the financial statements of the company for the year ended 30th April 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of hoteliers

DIVIDENDS

No dividends will be distributed for the year ended 30th April 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st May 2024 to the date of this report.

Mr J Clifford

Mrs C A Clifford

Mr B Clifford

Mr C P Clifford

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

Mr C P Clifford - Director

15th September 2025

Opinion

We have audited the financial statements of Blunsdon House Hotel Limited (the 'company') for the year ended 30th April 2025 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30th April 2025 and of its loss for the year 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

-

the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations through the audit planning process;

-

we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the company's industry;

-

we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the food hygiene and alcohol licensing laws, health and safety legislation, employment, Companies Act, taxation legislation and general data protection regulations (GDPR);

-

we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

-

identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed this susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:

-

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

-

considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

As a result of a long standing management and finance team we identified a risk of fraud through management bias and ability to override of controls, including lack of segregation of duties, which could lead to a misappropriation of cash and other assets. To address this we:

-

performed analytical procedures to identify any unusual or unexpected relationships;

-

tested journal entries to identify unusual transactions;

-

reviewed the monthly management accounts, which are prepared externally separate to internal finance team;

-

assessed whether judgements and assumptions made in determining the accounting estimates set out in note two were indicative of potential bias; and

-

investigated the rationale behind significant or unusual transaction.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-

agreeing financial statement disclosures to underlying supporting documentation;

-

enquiring of management as to actual and potential litigation and claims; and

-

reviewing correspondence and training documents for the relevant bodies and including any legal correspondence.

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr Robert Andrew Beale (Senior Statutory Auditor)

for and on behalf of Morris Owen

Statutory Auditors

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

24th September 2025

TURNOVER

3

5,033,246

6,790,915

Cost of sales

2,821,830

4,366,012

GROSS PROFIT

2,211,416

2,424,903

Administrative expenses

2,364,744

2,339,600

(153,328

)

85,303

Other operating income

26,276

11,146

OPERATING (LOSS)/PROFIT

5

(127,052

)

96,449

Interest receivable and similar income

20,578

11,669

(106,474

)

108,118

Interest payable and similar expenses

6

105,422

130,293

LOSS BEFORE TAXATION

(211,896

)

(22,175

)

Tax on loss

7

(6,716

)

24,839

LOSS FOR THE FINANCIAL YEAR

(205,180

)

(47,014

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(205,180

)

(47,014

)

FIXED ASSETS

Tangible assets

8

5,957,368

6,111,615

CURRENT ASSETS

Stocks

9

68,660

62,269

Debtors

10

180,711

129,671

Cash at bank and in hand

713,960

958,282

963,331

1,150,222

CREDITORS

Amounts falling due within one year

11

1,043,771

1,089,762

NET CURRENT (LIABILITIES)/ASSETS

(80,440

)

60,460

TOTAL ASSETS LESS CURRENT LIABILITIES

5,876,928

6,172,075

CREDITORS

Amounts falling due after more than one year

12

(1,777,317

)

(1,860,568

)

PROVISIONS FOR LIABILITIES

16

(220,500

)

(227,216

)

NET ASSETS

3,879,111

4,084,291

CAPITAL AND RESERVES

Called up share capital

17

407,450

407,450

Revaluation reserve

18

16,444

16,444

Retained earnings

18

3,455,217

3,660,397

SHAREHOLDERS' FUNDS

3,879,111

4,084,291

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 15th September 2025 and were signed on its behalf by:

Mr J Clifford - Director

Mr C P Clifford - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1st May 2023

407,450

3,707,411

16,444

4,131,305

Changes in equity

Deficit for the year

-

(47,014

)

-

(47,014

)

Total comprehensive income

-

(47,014

)

-

(47,014

)

Balance at 30th April 2024

407,450

3,660,397

16,444

4,084,291

Changes in equity

Deficit for the year

-

(205,180

)

-

(205,180

)

Total comprehensive income

-

(205,180

)

-

(205,180

)

Balance at 30th April 2025

407,450

3,455,217

16,444

3,879,111

Cash flows from operating activities

Cash generated from operations

1

141,454

1,802,425

Interest paid

(85,869

)

(124,635

)

Interest element of finance lease payments paid

(3,087

)

(5,658

)

Net cash from operating activities

52,498

1,672,132

Cash flows from investing activities

Purchase of tangible fixed assets

(232,791

)

(202,985

)

Sale of tangible fixed assets

-

71,500

Interest received

20,578

11,669

Net cash from investing activities

(212,213

)

(119,816

)

Cash flows from financing activities

Loan repayments in year

(62,290

)

(709,109

)

Capital repayments in year

(15,952

)

(46,161

)

Amount introduced by directors

30,000

2,538

Amount withdrawn by directors

(36,365

)

(6,426

)

Net cash from financing activities

(84,607

)

(759,158

)

(Decrease)/increase in cash and cash equivalents

(244,322

)

793,158

Cash and cash equivalents at beginning of year

2

958,282

165,124

Cash and cash equivalents at end of year

2

713,960

958,282

1.	RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Loss before taxation

(211,896

)

(22,175

)

Depreciation charges

386,737

383,264

Loss/(profit) on disposal of fixed assets

301

(273

)

Finance costs

105,422

130,293

Finance income

(20,578

)

(11,669

)

259,986

479,440

(Increase)/decrease in stocks

(6,391

)

1,497,590

Increase in trade and other debtors

(51,040

)

(11,915

)

Decrease in trade and other creditors

(61,101

)

(162,690

)

Cash generated from operations

141,454

1,802,425

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 30th April 2025

30.4.25

1.5.24

£

£

Cash and cash equivalents

713,960

958,282

Year ended 30th April 2024

30.4.24

1.5.23

£

£

Cash and cash equivalents

958,282

165,124

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.5.24

Cash flow

At 30.4.25

£

£

£

Net cash

Cash at bank and in hand

958,282

(244,322

)

713,960

958,282

(244,322

)

713,960

Debt

Finance leases

(41,199

)

15,952

(25,247

)

Debts falling due within 1 year

(62,479

)

(3,432

)

(65,911

)

Debts falling due after 1 year

(1,835,241

)

65,722

(1,769,519

)

(1,938,919

)

78,242

(1,860,677

)

Total

(980,637

)

(166,080

)

(1,146,717

)

1.	COMPANY INFORMATION

The company is a private company limited by shares and incorporated in England and Wales.

The registered office address is Blunsdon House Hotel, Blunsdon, Swindon, Wiltshire SN26 7AS.

These financial statements are presented in British Pounds (GBP), which is the company's functional and presentational currency.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern

The directors continually review the company's performance to manage the company's profitability, making strategic decisions as required. Therefore despite the company making a loss this year the directors believe the company is a going concern and the accounts have been prepared on this basis.

Significant judgements and estimates

In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

- Determine an appropriate valuation of any non-basic financial instruments.

- Determine an appropriate valuation of the freehold property asset class.

Turnover

Turnover represents amounts derived from the provision of goods and services after deduction of trade discounts and value added tax. The turnover is attributable to the principal activity of the company, the operation of a hotel and leisure. Revenue is recognised when goods and services have been provided.

In relation to leisure, revenue is recognised over the term of the membership.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on buildings/not provided on land

Leasehold property

-

10% on cost and 2% on cost

Fixtures and fittings

-

25% on cost, 15% on reducing balance and over the term of the lease

Motor vehicles

-

25% on reducing balance

Crockery and linen

-

33% on cost

Freehold property is valued at the most recent market valuation.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are valued on a first in first out basis after making due allowance for obsolete and slow moving items.

Financial instruments

Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

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.

Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.

TURNOVER

The turnover and loss before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2025

2024

£

£

Hotel and Leisure Facilities

5,033,246

4,765,915

Property Sales

-

2,025,000

5,033,246

6,790,915

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,218,310

2,095,859

Social security costs

154,275

136,524

Other pension costs

36,319

32,956

2,408,904

2,265,339

The average number of employees during the year was as follows:

2025

2024

Number of management staff

94

21

Number of other staff

21

90

115

111

2025

2024

£

£

Directors' remuneration

109,850

99,850

Directors' pension contributions to money purchase schemes

1,551

1,541

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

2

5.	OPERATING (LOSS)/PROFIT

The operating loss (2024 - operating profit) is stated after charging/(crediting):

2025

2024

£

£

Hire of plant and machinery

17,852

15,410

Other operating leases

101,686

102,315

Depreciation - owned assets

372,031

364,288

Depreciation - assets on finance leases

14,706

18,976

Loss/(profit) on disposal of fixed assets

301

(273

)

Auditors' remuneration

18,357

19,391