Scorpio Hotel Management Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02792892

Scorpio Hotel Management Limited

Filleted Financial Statements

31 March 2025

Scorpio Hotel Management Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		2,579,761	2,586,633

Current assets

Stocks		3,503	–
Debtors	6	188,492	51,582
Cash at bank and in hand		95,886	209,409
		---------	---------
		287,881	260,991

Creditors: amounts falling due within one year	7	86,028		63,532
		---------		---------
Net current assets			201,853	197,459
			------------	------------
Total assets less current liabilities			2,781,614	2,784,092

Creditors: amounts falling due after more than one year	8		236,300	236,300

Provisions

Taxation including deferred tax	353,156	353,834
	------------	------------
Net assets	2,192,158	2,193,958
	------------	------------

Capital and reserves

Called up share capital		9,100	9,100
Share premium account	10	81,000	81,000
Revaluation reserve	10	1,599,710	1,590,935
Profit and loss account	10	502,348	512,923
		------------	------------
Shareholders funds		2,192,158	2,193,958
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Scorpio Hotel Management Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 27 August 2025 , and are signed on behalf of the board by:

AN. Sia	Z. Ong
Director	Director

Company registration number: 02792892

Scorpio Hotel Management Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ground Floor, 4 Broadgate, Broadway Business Park, Chadderton, Oldham, OL9 9XA.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of 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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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 Seacare Hospitality (UK) Limited which can be obtained from 4 Broadgate, Broadway Business Park, Oldham, OL9 9XA. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. (c) 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. Significant judgements There are no judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have a significant effect on the amounts recognised in the financial statements. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no 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.

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. Sales are recognised by reference to the occupancy date of the rooms let and all deposits received in advance are treated as deposits held on behalf of customers.

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 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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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	-	50 years straight line
Fixtures & fittings	-	3 - 25 years straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 9 (2024: 8 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Total
	£	£	£
Cost
At 1 April 2024	2,700,000	942,819	3,642,819
Additions	–	61,777	61,777
	------------	------------	------------
At 31 March 2025	2,700,000	1,004,596	3,704,596
	------------	------------	------------
Depreciation
At 1 April 2024	280,800	775,386	1,056,186
Charge for the year	35,100	33,549	68,649
	------------	------------	------------
At 31 March 2025	315,900	808,935	1,124,835
	------------	------------	------------
Carrying amount
At 31 March 2025	2,384,100	195,661	2,579,761
	------------	------------	------------
At 31 March 2024	2,419,200	167,433	2,586,633
	------------	------------	------------

6. Debtors

	2025	2024
	£	£
Trade debtors	10,568	( 20,352)
Amounts owed by group undertakings and undertakings in which the company has a participating interest	169,714	19,021
Other debtors	8,210	52,913
	---------	--------
	188,492	51,582
	---------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	18,946	12,869
Amounts owed to group undertakings	19,330	12,768
Social security and other taxes	19,630	–
Other creditors	28,122	37,895
	--------	--------
	86,028	63,532
	--------	--------

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

	2025	2024
	£	£
Amounts owed to group undertakings	236,300	236,300
	---------	---------

9. Deferred tax

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

	2025	2024
	£	£
Included in provisions	353,156	353,834
	---------	---------

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

	2025	2024
	£	£
Accelerated capital allowances	42,819	34,722
Revaluation of tangible assets	310,337	319,112
	---------	---------
	353,156	353,834
	---------	---------

10. Reserves

Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs. Revaluation reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income. Profit and loss account - This reserve records retained earnings and accumulated losses.

11. Summary audit opinion

The auditor's report dated 27 August 2025 was unqualified .

The senior statutory auditor was Andrew Wadsworth FCCA , for and on behalf of Edwards Veeder (UK) Limited .

12. Related party transactions

Included within debtors is a balance of £169,714 (2024: £19,021) due from Seacare Leeds Limited. This balance is unsecured, interest free and repayable on demand. Included within creditors under one year are balances of £16,810 and £2,520 (2024: £12,768 and £nil) due to Seacare Hospitality (UK) Limited and Seacare Compass Ilfracombe Limited. These balances are unsecured, interest free and repayable on demand. Included within creditors over one year is a loan balance of £236,300 (2024: £236,300) due to Seacare Leeds Limited. This balance is unsecured and repayable on demand. Interest is charged at 3.25% per annum.

13. Controlling party

The Company is a wholly owned subsidiary of Seacare Leeds Limited incorporated in England & Wales. Seacare Leeds Limited is a wholly owned subsidiary of Seacare Hospitality (UK) Limited, a company incorporated in England & Wales. Seacare Holdings Private Limited (incorporated in Singapore) owns the 100% shareholding of Seacare Hospitality (UK) Limited and is the parent company.