The Angel Hotel Chippenham Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

1. General Information

The Angel Hotel Chippenham Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02938502 . The registered office is Kirkland House, 11-15 Peterborough Road, Harrow, Middlesex, HA1 2AX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2%
Plant & Machinery	12.5% reducing balance

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

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The Angel Hotel Chippenham Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3. Average Number of Employees

Average number of employees, including directors, during the year was: 47 (2023: 47)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Total
	£	£	£
Cost
As at 1 January 2024	6,891,543	2,587,957	9,479,500
Additions	-	43,833	43,833
Disposals	(40,000 )	-	(40,000 )

As at 31 December 2024	6,851,543	2,631,790	9,483,333

Depreciation
As at 1 January 2024	1,103,295	1,807,396	2,910,691
Provided during the period	133,568	100,866	234,434
Disposals	(7,600 )	-	(7,600 )

As at 31 December 2024	1,229,263	1,908,262	3,137,525

Net Book Value
As at 31 December 2024	5,622,280	723,528	6,345,808

As at 1 January 2024	5,788,248	780,561	6,568,809

5. Stocks

	2024	2023
	£	£
Finished goods	7,867	9,735

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	50,861	68,150
Amounts owed by group undertakings	3,412,076	3,102,677
Other debtors	133,414	57,952

	3,596,351	3,228,779

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	159,642	88,571
Bank loans and overdrafts	5,465	5,665
Other creditors	702,127	566,803
Taxation and social security	105,122	111,824

	972,356	772,863

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The Angel Hotel Chippenham Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	25,354	30,710
Other creditors	2,940,000	2,940,000

	2,965,354	2,970,710

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

10. Reserves

	Revaluation Reserve
	£
As at 1 January 2024	3,967,830

As at 31 December 2024	3,967,830

11. Related Party Transactions

At the year end, the company was owed £38,957 (2023: £100,000) from Frank Truman Limited, a company with common directors.

At the year end, the company was owed £3,426,115 (2023: £2,976,666) from The Destination Hotel Limited, the parent of the company.

At the year end, the company owed £Nil (2023: £20,000) to Handy Cross Opco Limited, the company with common directors.

At the year end, the company was owed £Nil (2023: £38,957) from Castle Green Kendal Limited, a company with common directors.

12. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

13. Audit Information

The auditor's report on the accounts of The Angel Hotel Chippenham Limited for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by F Meghani (Senior Statutory Auditor) for and on behalf of Fairman Harris , Statutory Auditor.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		6,345,808		6,568,809

			6,345,808		6,568,809
CURRENT ASSETS
Stocks	5	7,867		9,735
Debtors	6	3,596,351		3,228,779
Cash at bank and in hand		2,060		13,554

		3,606,278		3,252,068
Creditors: Amounts Falling Due Within One Year	7	(972,356 )		(772,863 )

NET CURRENT ASSETS (LIABILITIES)			2,633,922		2,479,205

TOTAL ASSETS LESS CURRENT LIABILITIES			8,979,730		9,048,014

Creditors: Amounts Falling Due After More Than One Year	8		(2,965,354 )		(2,970,710 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(160,607 )		(985,345 )

NET ASSETS			5,853,769		5,091,959

CAPITAL AND RESERVES
Called up share capital	9		100		100
Revaluation reserve	10		3,967,830		3,967,830
Profit and Loss Account			1,885,839		1,124,029

SHAREHOLDERS' FUNDS			5,853,769		5,091,959