Ashley Hotels Salisbury Limited Company accounts

COMPANY REGISTRATION NUMBER: 10733769

Ashley Hotels Salisbury Limited

Financial Statements

For the year ended

31 December 2024

Ashley Hotels Salisbury Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	4

Independent auditor's report to the members	6

Statement of income and retained earnings	11

Statement of financial position	12

Notes to the financial statements	14

Ashley Hotels Salisbury Limited

Officers and Professional Advisers

The board of directors	A Hirji
	K Hirji
	N Hirji
	Z Hirji

Registered office	65-67 Belgrave Road
	London
	SW1V 2BG

Auditor	Streets Audit LLP
	Chartered accountants & statutory auditor
	Enterprise House
	38 Tyndall Court
	Commerce Road
	Lynch Wood
	Peterborough
	Cambridgeshire
	PE2 6LR

Ashley Hotels Salisbury Limited

Strategic Report

Year ended 31 December 2024

Introduction The directors present their strategic report for Ashley Hotels Salisbury Limited for the year ended 31 December 2024. Business review The company continued its principal activities during the current year of owning and operating a hotel. The company has refurbished and built an extension to the hotel which completed post year end to provide serviced apartments. Principal risks and uncertainties Management continually monitor the key risks facing the company together with assessing the controls used for managing these risks. The board of directors formally reviews and documents the principal risks facing the business at least annually. The principal risks and uncertainties facing the company are as follows: Economic downturn - the company acknowledges the importance of maintaining close relationships with its key corporate customers in order to be able to identify the early sign of potential financial difficulties. Whilst economic activity is strengthening and corporate travel is increasing, the directors do monitor corporate sales levels to enable early action to be taken in the event of sales declining. Interest rate risk - the company's exposure to market risk for the changes in interest rates relates primarily to its bank borrowings and hire purchase liabilities. The company seeks to manage this risk by keeping bank borrowings to a minimum. Exchange rate pressures - visitors to the UK, particularly from European countries may make decisions to travel based on exchange rate movements. Decreasing strength of the UK currency makes it less expensive for visitors, and as such can impact upon demand. The risk is managed by carefully monitoring and adjusting room rates based on demand. Competitor pressure - the risk of new hotels being developed in the markets in which the company operates would result in sales being lost to new competition. This risk is managed by re-investment of income into the upkeep of the company's property to ensure standards are maintained. In addition, the company is service focused to encourage repeat business and assist customer satisfaction. Reliance on key suppliers - the company's purchasing activities could expose it to over reliance on certain suppliers. The company manages this risk by continually reviewing supplier pricing and maintaining relationships with potential alternative suppliers. Loss of key personnel - this would pose an operational challenge for the company. Management seeks to ensure that key personnel are appropriately remunerated to ensure that good performance is recognised. Key performance indicators The directors use a range of performance measures to monitor and manage the business. The performance measures are split into financial and non-financial key performance indicators as set out below. Financial performance during the year The key financial performance indicators which are constantly reviewed by the directors are: 2024 2023 £ £ Turnover 2.7m 2.5m Gross profit 1.1m 1.0m Operating profit/(loss) 0.2m 0.2m Financial position at the reporting date The company made a loss for the year and has net liabilities at the balance sheet date but has received support from its parent company. Accordingly the Directors have prepared the financial statements on a going concern basis. Outlook The company continues to seek to grow by the continued investment in the hotel. The directors will continue to react to market conditions whilst managing the risk noted above. The cost of living crisis and high interest rates is causing wide economic disruption in the UK. The directors are monitoring this and potential consequences on the company.

This report was approved by the board of directors on 26 September 2025 and signed on behalf of the board by:

Z Hirji

Director

Registered office:

65-67 Belgrave Road

London

SW1V 2BG

Ashley Hotels Salisbury Limited

Directors' Report

Year ended 31 December 2024

The directors present their report and the financial statements of the company for the year ended 31 December 2024 .

Directors

The directors who served the company during the year were as follows:

A Hirji
K Hirji
N Hirji
Z Hirji

Dividends

The directors do not recommend the payment of a dividend.

Disclosure of information in the strategic report

The company has chosen to set out in the strategic report information about the future developments of the company and the financial instruments.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, directors' report 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). 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 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 judgments 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. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board of directors on 26 September 2025 and signed on behalf of the board by:

Z Hirji

Director

Registered office:

65-67 Belgrave Road

London

SW1V 2BG

Ashley Hotels Salisbury Limited

Independent Auditor's Report to the Members of Ashley Hotels Salisbury Limited

Year ended 31 December 2024

Opinion

We have audited the financial statements of Ashley Hotels Salisbury Limited (the 'company') for the year ended 31 December 2024 which comprise the statement of income and retained earnings, statement of financial position and the related notes, 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 FRS 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 31 December 2024 and of its loss for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 auditor's 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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report 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 directors' report. We have nothing to report in respect of the following matters in relation to which 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 directors' responsibilities statement, 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 is 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.

Auditor's 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 an auditor’s report 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 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 an auditor's report 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. 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; - 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 and sector in which it operates; - 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 Companies Act 2006, taxation legislation, employment and health and safety legislation; - 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 the 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. To address the risk of fraud through management bias and override of controls, we: - performed analytical procedures to identify any unusual or unexpected relationships; - tested journal entries to identify unusual transactions; - assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 3 were indicative of potential bias; and - investigated the rationale behind significant or unusual transactions. 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; - reading the minutes of meetings of those charged with governance; - inquiring of management as to actual and potential litigation and claims; and - reviewing correspondence with HMRC, relevant regulators and the company's legal advisors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to inquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. 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. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 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 an auditor's report 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.

Jonathan Day

(Senior Statutory Auditor)

For and on behalf of

Streets Audit LLP

Chartered accountants & statutory auditor

Enterprise House

38 Tyndall Court

Commerce Road

Lynch Wood

Peterborough

Cambridgeshire

PE2 6LR

29 September 2025

Ashley Hotels Salisbury Limited

Statement of Income and Retained Earnings

Year ended 31 December 2024

		2024	2023
Note		£	£
Turnover	4	2,732,722	2,484,725

Cost of sales	1,624,062	1,490,645
	------------	------------
Gross profit	1,108,660	994,080

Administrative expenses		915,464	784,073
Other operating income	5	30,000	–
		------------	---------
Operating profit	6	223,196	210,007

Interest payable and similar expenses	8	370,650	434,956
		------------	---------
Loss before taxation		( 147,454)	( 224,949)

Tax on loss	9	107,738	140,319
		---------	---------
Loss for the financial year and total comprehensive income		( 255,192)	( 365,268)
		---------	---------

Retained losses at the start of the year	( 1,232,411)	( 867,143)
	------------	------------
Retained losses at the end of the year	( 1,487,603)	( 1,232,411)
	------------	------------

All the activities of the company are from continuing operations.

Ashley Hotels Salisbury Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	10		8,462,831	6,819,738

Current assets

Stocks	11	17,822	16,783
Debtors	12	70,652	58,294
Cash at bank and in hand		14,522	865,341
		---------	---------
		102,996	940,418

Creditors: amounts falling due within one year	13	4,966,932		8,845,341
		------------		------------
Net current liabilities			4,863,936	7,904,923
			------------	------------
Total assets less current liabilities			3,598,895	( 1,085,185)

Creditors: amounts falling due after more than one year	14		4,831,534	–

Provisions

Taxation including deferred tax	15	254,963	147,225
		------------	------------
Net liabilities		( 1,487,602)	( 1,232,410)
		------------	------------

Ashley Hotels Salisbury Limited

Statement of Financial Position (continued)

31 December 2024

	2024		2023
Note	£	£	£

Capital and reserves

Called up share capital	18	1	1
Profit and loss account	19	( 1,487,603)	( 1,232,411)
		------------	------------
Shareholders deficit		( 1,487,602)	( 1,232,410)
		------------	------------

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

These financial statements were approved by the board of directors and authorised for issue on 26 September 2025 , and are signed on behalf of the board by:

Z Hirji

Director

Company registration number: 10733769

Ashley Hotels Salisbury Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 65-67 Belgrave Road, London, SW1V 2BG. The company's principal trading address is The White Hart Hotel, St John Street, Salisbury SP1 2SD.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

Going concern

The company made a loss for the year and has net liabilities at the balance sheet date but has received support from its parent company. Accordingly the Directors have prepared the financial statements on a going concern basis.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Ashley Hotels (Holdings) Limited which can be obtained from Companies House. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) No disclosure has been given for the aggregate remuneration of key management personnel.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: 1 Depreciation charge The annual depreciation charge for each class of tangible fixed asset is based on an estimate of the useful economic life of the respective assets. This is reviewed periodically by the directors to ensure that they reflect both the external and internal factors. 2 Cost of Land The Land has been included at a cost estimated by the directors. 3 Deferred Tax Deferred Tax has been calculated at 25% on the basis that this is the rate of corporation tax for the foreseeable future.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other 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 measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Fixtures and fittings	-	15% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Turnover

Turnover arises from:

	2024	2023
	£	£
Rendering of hotel services	2,732,722	2,484,725
	------------	------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Other operating income

	2024	2023
	£	£
Other operating income	30,000	–
	--------	----

The company received a grant from Wiltshire Council under the Business Fit for Future scheme towards boiler installation costs.

6. Operating profit

Operating profit or loss is stated after charging:

	2024	2023
	£	£
Depreciation of tangible assets	178,917	179,819
	---------	---------

7. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2024	2023
	No.	No.
Production staff	52	50
Management staff	4	4
	----	----
	56	54
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2024	2023
	£	£
Wages and salaries	775,338	740,658
Social security costs	47,750	52,009
Other pension costs	25,634	11,483
	---------	---------
	848,722	804,150
	---------	---------

8. Interest payable and similar expenses

	2024	2023
	£	£
Interest on banks loans and overdrafts	370,650	434,956
	---------	---------

9. Tax on loss

Major components of tax expense

	2024	2023
	£	£

Deferred tax:

Origination and reversal of timing differences	107,738	140,319
	---------	---------
Tax on loss	107,738	140,319
	---------	---------

Reconciliation of tax expense

The tax assessed on the loss on ordinary activities for the year is higher than (2023: higher than) the standard rate of corporation tax in the UK of 25 % (2023: 23.50 %).

	2024	2023
	£	£
Loss on ordinary activities before taxation	( 147,454)	( 224,949)
	---------	---------
Loss on ordinary activities by rate of tax	( 36,863)	( 52,909)
Effect of capital allowances and depreciation	81,638	109,541
Utilisation of tax losses	62,963	83,687
	---------	---------
Tax on loss	107,738	140,319
	---------	---------

10. Tangible assets

	Freehold property	Fixtures and fittings	Total
	£	£	£
Cost
At 1 January 2024	7,819,646	540,377	8,360,023
Additions	1,757,509	64,501	1,822,010
	------------	---------	-------------
At 31 December 2024	9,577,155	604,878	10,182,033
	------------	---------	-------------
Depreciation
At 1 January 2024	1,136,771	403,514	1,540,285
Charge for the year	99,000	79,917	178,917
	------------	---------	-------------
At 31 December 2024	1,235,771	483,431	1,719,202
	------------	---------	-------------
Carrying amount
At 31 December 2024	8,341,384	121,447	8,462,831
	------------	---------	-------------
At 31 December 2023	6,682,875	136,863	6,819,738
	------------	---------	-------------

Included in freehold property is freehold land of £2,196,712 (2023 £2,196,712) which is not depreciated.

11. Stocks

	2024	2023
	£	£
Raw materials and consumables	17,822	16,783
	--------	--------

12. Debtors

	2024	2023
	£	£
Trade debtors	5,349	8,598
Prepayments and accrued income	31,204	44,442
Other debtors	34,099	5,254
	--------	--------
	70,652	58,294
	--------	--------

13. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	68,502	5,709,805
Trade creditors	323,849	232,383
Amounts owed to group undertakings	4,248,405	2,737,825
Accruals and deferred income	266,248	106,117
Social security and other taxes	14,174	27,022
Other creditors	45,754	32,189
	------------	------------
	4,966,932	8,845,341
	------------	------------

The bank borrowings are secured by a legal charge against the company's freehold property. The company is also bound by an all asset debenture and a partial personal guarantee by the directors.

14. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	4,831,534	–
	------------	----

The bank borrowings are secured by a legal charge against the company's freehold property. The company is also bound by an all asset debenture and a partial personal guarantee by the directors.

15. Provisions

	Deferred tax (note 16)
	£
At 1 January 2024	147,225
Additions	107,738
	---------
At 31 December 2024	254,963
	---------

16. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions (note 15)	254,963	147,225
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	322,264	147,225
Unused tax losses	( 67,301)	–
	---------	---------
	254,963	147,225
	---------	---------

17. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 25,634 (2023: £ 11,483 ).

18. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

19. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses.

20. Related party transactions

The company has taken advantage of the exemptions available under FRS102 relating to the disclosure of related party transactions with other members of the Ashley Hotels (Holdings) Limited group.

21. Controlling party

The company is wholly-owned subsidiary undertaking of Ashley Hotels (Holdings) Limited, a company registered in England and Wales. Copies of the consolidated financial statements of Ashley Hotels (Holdings) Limited may be obtained from the registered office. There is no ultimate controlling party.