REGISTERED NUMBER: 00978501 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

FOR

ELGIN HOTEL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr N A Seddon

Mrs I Seddon

Mrs E P Brown

SECRETARY:

Mr N A Seddon

REGISTERED OFFICE:

17 St Peters Place

Fleetwood

Lancashire

FY7 6EB

REGISTERED NUMBER:

00978501 (England and Wales)

AUDITORS:

Xeinadin Audit Limited

Statutory Auditor

17 St Peters Place

Fleetwood

Lancashire

FY7 6EB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

3,149,195

3,210,085

3,149,195

3,210,085

CURRENT ASSETS

Stocks

28,374

30,046

Debtors

6

748,599

692,577

Cash at bank and in hand

282,890

250,794

1,059,863

973,417

CREDITORS

Amounts falling due within one year

7

(1,934,806

)

(1,864,847

)

NET CURRENT LIABILITIES

(874,943

)

(891,430

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,274,252

2,318,655

CREDITORS

Amounts falling due after more than one year

8

(534,737

)

(587,750

)

PROVISIONS FOR LIABILITIES

(362,453

)

(351,466

)

NET ASSETS

1,377,062

1,379,439

CAPITAL AND RESERVES

Called up share capital

50,300

50,300

Share premium

5,100

5,100

Revaluation reserve

10

1,023,471

1,029,633

Other reserves

2,500

2,500

Retained earnings

295,691

291,906

SHAREHOLDERS' FUNDS

1,377,062

1,379,439

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 October 2025 and were signed on its behalf by:

Mr N A Seddon - Director

1.	STATUTORY INFORMATION

Elgin Hotel 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.

Going concern

The balance sheet shows net current liabilities of £874,943 (2024: £891,430). Total net assets £1,377,062 (2024: £1,379,439).

The group is dependent upon the continuing support of its directors and other creditors to enable it to meet its day to day working capital requirements. The directors have indicated that they are willing to provide such support for the foreseeable future and therefore believe it is appropriate to continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover representing the value of services is recognised to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the service has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Turnover representing the sale of goods is shown net of VAT and trade discounts and is recognised when the goods are physically delivered to the customer.

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.

Tangible fixed assets

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

Freehold property

-

Nil

Fixtures and fittings

-

10% on cost

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% on cost

Land and buildings are stated at cost (or deemed cost for land and buildings held at valuation at the date of transition to FRS 102).

Depreciation is not provided for in respect of freehold properties. In the opinion of the directors, the residual value of the freehold properties at the end of their useful lives are expected to be such that any depreciation would be wholly immaterial.

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

Other debtors contains a bond which is recognised at cost, this matures in under 12 months and is therefore recognised as current asset.

Taxation

Taxation for the year 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 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

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 year was 61 (2024 - 62 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2024

and 30 April 2025

27,500

AMORTISATION

At 1 May 2024

and 30 April 2025

27,500

NET BOOK VALUE

At 30 April 2025

-

At 30 April 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 May 2024

2,425,751

3,426,482

43,890

105,602

6,001,725

Additions

25,701

61,770

-

2,063

89,534

At 30 April 2025

2,451,452

3,488,252

43,890

107,665

6,091,259

DEPRECIATION

At 1 May 2024

-

2,668,841

21,418

101,381

2,791,640

Charge for year

-

143,597

4,495

2,332

150,424

At 30 April 2025

-

2,812,438

25,913

103,713

2,942,064

NET BOOK VALUE

At 30 April 2025

2,451,452

675,814

17,977

3,952

3,149,195

At 30 April 2024

2,425,751

757,641

22,472

4,221

3,210,085

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

297,668

297,668

Other debtors

438,890

385,493

Prepayments and accrued income

12,041

9,416

748,599

692,577

Other debtors contains £433,686 (2024 - £380,657) which represents a cash backed bond issued to ABTA Insurance PCC Ltd, this will mature March 2026.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

29,925

28,104

Hire purchase contracts

23,050

5,503

Trade creditors

742,797

781,389

Amounts owed to group undertakings

853,740

799,107

Tax

121,997

77,629

Social security and other taxes

24,547

17,245

VAT

76,781

82,688

Other creditors

350

265

Accruals and deferred income

61,619

72,917

1,934,806

1,864,847

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

31,882

29,941

Bank loans - 2-5 years

502,855

534,473

Hire purchase contracts

-

23,336

534,737

587,750

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

23,050

28,839

Bank Loans

564,662

592,519

587,712

621,358

Assets financed under hire purchase are secured upon the assets to which they relate.

10.

RESERVES

Revaluation

reserve

£

At 1 May 2024

1,029,633

Movement on deferred tax

(6,162

)

At 30 April 2025

1,023,471

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

The Report of the Auditors was unqualified.

Charles F Bryning FCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

12.	CONTINGENT LIABILITIES

A cross-company unlimited guarantee is in place in favour of one of the company's bankers between the company and Sheraton Hotel (Blackpool) Limited. At the balance sheet date monies owing to the bank totals £1,693,985 (2024 - £1,777,555).

13.	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.

14.	CONTROLLING PARTY

Elgin Hotel Limited is a subsidiary of Alf Seddon Limited of 17 St Peters Place, Fleetwood, Lancashire, FY7 6EB.