REGISTERED NUMBER: 15182917 (England and Wales)

Financial Statements

for the Period

3 October 2023 to 31 December 2024

for

Hotel Victoria (TSP Operations) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs J Long

A E Long

N P Chapman

A J B Nares

REGISTERED OFFICE:

The Old Rectory

Rectory Road

Coleby

Lincoln

LN5 0AJ

REGISTERED NUMBER:

15182917 (England and Wales)

AUDITORS:

Wright Vigar Limited

Statutory Auditors

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

FIXED ASSETS

Intangible assets

4

477,773

Tangible assets

5

1,159,022

1,636,795

CURRENT ASSETS

Stocks

21,897

Debtors

6

82,596

Cash at bank and in hand

86,724

191,217

CREDITORS

Amounts falling due within one year

7

498,424

NET CURRENT LIABILITIES

(307,207

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,329,588

CREDITORS

Amounts falling due after more than one year

8

1,662,763

NET LIABILITIES

(333,175

)

CAPITAL AND RESERVES

Called up share capital

10

1

Retained earnings

(333,176

)

SHAREHOLDERS' FUNDS

(333,175

)

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 30 September 2025 and were signed on its behalf by:

A E Long - Director

1.	STATUTORY INFORMATION

Hotel Victoria (TSP Operations) 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.

At the year end the balance sheet of the company showed net liabilities. The company receives the financial support of its ultimate parent company and on this basis the directors consider it appropriate to prepare the financial statements on a going concern basis. There was £1,129,999 outstanding at year end due to Travel Sector Property Limited.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

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

Improvements to property

-

5% on cost

Computer equipment

-

25% on cost

Stocks

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

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 period 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 period 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

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 33 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

Additions

450,000

42,014

492,014

At 31 December 2024

450,000

42,014

492,014

AMORTISATION

Charge for period

8,250

5,991

14,241

At 31 December 2024

8,250

5,991

14,241

NET BOOK VALUE

At 31 December 2024

441,750

36,023

477,773

5.	TANGIBLE FIXED ASSETS

Improvements

to

Computer

property

equipment

Totals

£

£

£

COST

Additions

1,150,401

55,027

1,205,428

At 31 December 2024

1,150,401

55,027

1,205,428

DEPRECIATION

Charge for period

35,189

11,217

46,406

At 31 December 2024

35,189

11,217

46,406

NET BOOK VALUE

At 31 December 2024

1,115,212

43,810

1,159,022

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

82,596

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

147,321

Taxation and social security

110,210

Other creditors

240,893

498,424

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Amounts owed to group undertakings

1,662,763

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

£

Within one year

230,000

Between one and five years

920,000

In more than five years

2,300,000

3,450,000

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

1

Ordinary

1

1

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

The Report of the Auditors was unqualified.

Paul Colcomb FCCA (Senior Statutory Auditor)

for and on behalf of Wright Vigar Limited

12.	RELATED PARTY DISCLOSURES

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.

Transactions and balances with companies which have common directorship are as follows:

LHM Luxury Hotel Management Limited

During the year purchases of £112,721 were made from LHM Luxury Hotel Management Limited. There was £13,430 outstanding at the year end due to LHM Luxury Hotel Management Limited. A J B Nares and N P Chapman are directors of LHM Luxury Hotel Management Limited.

Kingfisher Una Resort Limited

During the year purchases of £2,557 were made from Kingfisher Una Resort Limited. There was £2,557 outstanding at the year end due to Kingfisher Una Resort Limited. A J B Nares and N P Chapman are directors of Kingfisher Una Resort Limited.

Knoll House Hotel Limited

During the year purchases of £3,100 were made from Knoll House Hotel Limited. There was £836 oustanding at year end due to Knoll House Hotel Limited. A J B Nares is a director of Knoll House Hotel Limited.

13.	ULTIMATE CONTROLLING PARTY

The parent company of Hotel Victoria (TSP Operations) Limited is Loxley Collection (TSP Group) Limited, a company registered in England and Wales, and the ultimate parent company is Travel Sector Property Limited, a company registered in England and Wales. Travel Sector Property Limited prepares group financial statements and copies can be obtained from its registered office at The Old Rectory, Rectory Road, Coleby, Lincoln, Lincolnshire, LN5 0AJ.