REGISTERED NUMBER: 09573350 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

FOR

ALF SEDDON LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Consolidated Statement of Comprehensive Income

8

Consolidated Balance Sheet

9

Company Balance Sheet

10

Consolidated Statement of Changes in Equity

11

Company Statement of Changes in Equity

12

Consolidated Cash Flow Statement

13

Notes to the Consolidated Cash Flow Statement

14

Notes to the Consolidated Financial Statements

15

DIRECTORS:

Mrs I Seddon

N A Seddon

Mrs E P Brown

REGISTERED OFFICE:

17 St Peters Place

Fleetwood

Lancashire

FY7 6EB

REGISTERED NUMBER:

09573350 (England and Wales)

AUDITORS:

Xeinadin Audit Limited

Statutory Auditor

17 St Peters Place

Fleetwood

Lancashire

FY7 6EB

The directors present their strategic report of the company and the group for the year ended 30 April 2025.

REVIEW OF BUSINESS

The company operates as a holding company only. During the period the group has continued to operate two hotels on the blackpool promenade and the performance as a whole is the combination of the two subsidiaries, Elgin Hotel Limited and Sheraton Hotel (Blackpool) Limited.

Results

The directors are pleased to report that during the year ended 30th April 2025 the group continued to maintain year on year turnover growth, and profitability has been maintained at expected levels despite the impact of rising operating costs.The following group key performance indicators demonstrate this information.

2025

2024

2023

£

£

£

Turnover

8,653

8,406

7,819

Operating profit/(loss)

633

847

1,104

Profit/(loss) before taxation

524

728

938

Profit/(loss) after taxation

368

545

575

PRINCIPAL RISKS AND UNCERTAINTIES

The group's operations and their results are subject to a number of factors that could adversely affects the Group's business, many of which are common to the hotel industry and beyond the group's control. The current economic effects of high inflation, cost-of-living crisis and rising supply costs mainly in the energy sector has had a damaging impact on the whole industry.The group's results remained strong in light of this and are confident that we can continue in business for the foreseeable future with support from our creditors.

ON BEHALF OF THE BOARD:

N A Seddon - Director

30 October 2025

The directors present their report with the financial statements of the company and the group for the year ended 30 April 2025.

DIVIDENDS

Interim dividends per share were paid during the year as follows:

A Ordinary £1

-

£1625

- 31 July 2024

B Ordinary £1

-

£450

- 31 July 2024

C Ordinary £1

-

£1625

- 31 July 2024

The total distribution of dividends for the year ended 30 April 2025 will be £ 370,000 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 May 2024 to the date of this report.

Mrs I Seddon

N A Seddon

Mrs E P Brown

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors 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 group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

N A Seddon - Director

30 October 2025

Opinion

We have audited the financial statements of Alf Seddon Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2025 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, 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 Financial Reporting Standard 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 group's and of the parent company affairs as at 30 April 2025 and of the group's profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 group's and the parent 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 directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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 this gives rise to a material misstatement in the financial statements themselves. 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 Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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 Statement of Directors' Responsibilities set out on page three, 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 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulation and fraud.

- Confirming design and implementation of the management's controls designed to prevent and detect irregularities.

- Reviewing key correspondence with regulatory authorities in relation to compliance with relevant regulations.

- Challenging assumptions and judgements made by the management as well as explanations given.

- Identifying and testing journal entries, in particular those posted with unusual account combinations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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 a Report of the Auditors 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.

Charles Bryning FCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

Statutory Auditor

17 St Peters Place

Fleetwood

Lancashire

FY7 6EB

30 October 2025

TURNOVER

8,652,789

8,406,209

Cost of sales

1,794,031

1,713,141

GROSS PROFIT

6,858,758

6,693,068

Administrative expenses

6,230,972

5,846,372

627,786

846,696

Other operating income

4,979

-

OPERATING PROFIT

4

632,765

846,696

Interest receivable and similar income

38,503

36,482

671,268

883,178

Interest payable and similar expenses

5

147,285

154,794

PROFIT BEFORE TAXATION

523,983

728,384

Tax on profit

6

155,970

183,398

PROFIT FOR THE FINANCIAL YEAR

368,013

544,986

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

368,013

544,986

Profit attributable to:

Owners of the parent

368,013

544,986

Total comprehensive income attributable to:

Owners of the parent

368,013

544,986

FIXED ASSETS

Intangible assets

9

14,688

73,438

Tangible assets

10

5,353,115

5,430,495

Investments

11

-

-

5,367,803

5,503,933

CURRENT ASSETS

Stocks

12

61,047

54,227

Debtors

13

467,184

431,833

Cash at bank and in hand

543,069

625,836

1,071,300

1,111,896

CREDITORS

Amounts falling due within one year

14

(2,122,640

)

(2,152,103

)

NET CURRENT LIABILITIES

(1,051,340

)

(1,040,207

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,316,463

4,463,726

CREDITORS

Amounts falling due after more than one year

15

(2,138,945

)

(2,280,995

)

PROVISIONS FOR LIABILITIES

19

(597,739

)

(600,965

)

NET ASSETS

1,579,779

1,581,766

CAPITAL AND RESERVES

Called up share capital

20

50,300

50,300

Share premium

5,100

5,100

Revaluation reserve

1,023,470

1,029,633

Other reserves

2,500

2,500

Retained earnings

498,409

494,233

SHAREHOLDERS' FUNDS

1,579,779

1,581,766

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:

N A Seddon - Director

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

-

-

Investments

11

50,301

50,301

50,301

50,301

CURRENT ASSETS

Debtors

13

853,743

799,107

CREDITORS

Amounts falling due within one year

14

(844,171

)

(788,445

)

NET CURRENT ASSETS

9,572

10,662

TOTAL ASSETS LESS CURRENT LIABILITIES

59,873

60,963

CAPITAL AND RESERVES

Called up share capital

20

50,300

50,300

Retained earnings

9,573

10,663

SHAREHOLDERS' FUNDS

59,873

60,963

Company's profit for the financial year

368,910

427,522

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

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:

N A Seddon - Director

Called up

share

Retained

Share

capital

earnings

premium

£

£

£

Balance at 1 May 2023

50,300

352,308

5,100

Changes in equity

Dividends

-

(425,000

)

-

Total comprehensive income

-

566,925

-

Balance at 30 April 2024

50,300

494,233

5,100

Changes in equity

Dividends

-

(370,000

)

-

Total comprehensive income

-

374,176

-

Balance at 30 April 2025

50,300

498,409

5,100

Revaluation

Other

Total

reserve

reserves

equity

£

£

£

Balance at 1 May 2023

1,051,572

2,500

1,461,780

Changes in equity

Dividends

-

-

(425,000

)

Total comprehensive income

(21,939

)

-

544,986

Balance at 30 April 2024

1,029,633

2,500

1,581,766

Changes in equity

Dividends

-

-

(370,000

)

Total comprehensive income

(6,163

)

-

368,013

Balance at 30 April 2025

1,023,470

2,500

1,579,779

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 May 2023

50,300

8,141

58,441

Changes in equity

Dividends

-

(425,000

)

(425,000

)

Total comprehensive income

-

427,522

427,522

Balance at 30 April 2024

50,300

10,663

60,963

Changes in equity

Dividends

-

(370,000

)

(370,000

)

Total comprehensive income

-

368,910

368,910

Balance at 30 April 2025

50,300

9,573

59,873

Cash flows from operating activities

Cash generated from operations

1

1,016,951

1,357,140

Interest paid

(147,075

)

(153,672

)

Interest element of hire purchase payments paid

(210

)

(1,122

)

Tax paid

(131,322

)

(141,268

)

Net cash from operating activities

738,344

1,061,078

Cash flows from investing activities

Purchase of tangible fixed assets

(318,311

)

(725,571

)

Interest received

38,503

36,482

Net cash from investing activities

(279,808

)

(689,089

)

Cash flows from financing activities

Loan repayments in year

(111,428

)

(104,905

)

Capital repayments in year

(5,789

)

(4,875

)

Amount withdrawn by directors

(424,086

)

(416,566

)

Net cash from financing activities

(541,303

)

(526,346

)

Decrease in cash and cash equivalents

(82,767

)

(154,357

)

Cash and cash equivalents at beginning of year

2

625,836

780,193

Cash and cash equivalents at end of year

2

543,069

625,836

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

523,983

728,384

Depreciation charges

454,440

450,801

Finance costs

147,285

154,794

Finance income

(38,503

)

(36,482

)

1,087,205

1,297,497

Increase in stocks

(6,820

)

(2,247

)

Increase in trade and other debtors

(35,351

)

(20,765

)

(Decrease)/increase in trade and other creditors

(28,083

)

82,655

Cash generated from operations

1,016,951

1,357,140

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 April 2025

30/4/25

1/5/24

£

£

Cash and cash equivalents

543,069

625,836

Year ended 30 April 2024

30/4/24

1/5/23

£

£

Cash and cash equivalents

625,836

780,193

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1/5/24

Cash flow

At 30/4/25

£

£

£

Net cash

Cash at bank and in hand

625,836

(82,767

)

543,069

625,836

(82,767

)

543,069

Debt

Finance leases

(28,839

)

5,789

(23,050

)

Debts falling due within 1 year

(112,415

)

(7,285

)

(119,700

)

Debts falling due after 1 year

(2,257,659

)

118,714

(2,138,945

)

(2,398,913

)

117,218

(2,281,695

)

Total

(1,773,077

)

34,451

(1,738,626

)

1.	STATUTORY INFORMATION

Alf Seddon 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The group balance sheet shows net current liabilities of £1,051,340 (2024: £1,040,207). Total net assets £1,579,779 (2024: £1,581,766).

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.

Basis of consolidation

The accounts have been prepared using the merger accounting basis of consolidation. The Group consolidated financial statements include the financial statements of the Company and all of its subsidiary undertakings.

Related party exemption

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 between group entities which have been eliminated on consolidation are not disclosed within 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, 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.

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

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all property, plant and equipment, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life. The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

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

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. For the purpose of the consolidated cash flow statement, cash and cash equivalents consist of cash and cash equivalents as defined above, net of outstanding bank overdrafts.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other operating expenses.

All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. The effective interest rate amortisation is included in finance revenue in the income statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

3,264,903

3,042,286

Social security costs

267,839

240,196

Other pension costs

56,487

48,693

3,589,229

3,331,175

The average number of employees during the year was as follows:

2025

2024

Elgin Hotel

61

62

Sheraton Hotel

91

86

152

148

2025

2024

£

£

Directors' remuneration

6,380

6,240

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

2