REGISTERED NUMBER: 11816246 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

PORT HOTEL EASTBOURNE LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P M Cadwallader

C H J Douglas

I R Douglas

REGISTERED OFFICE:

29 Gildredge Road

Eastbourne

East Sussex

BN21 4RU

BUSINESS ADDRESS:

11-12 Royal Parade

Eastbourne

East Sussex

BN22 7AR

REGISTERED NUMBER:

11816246 (England and Wales)

ACCOUNTANTS:

Advanta

Chartered Accountants

29 Gildredge Road

Eastbourne

East Sussex

BN21 4RU

FIXED ASSETS

Intangible assets

4

781

937

Tangible assets

5

2,068,175

2,340,291

2,068,956

2,341,228

CURRENT ASSETS

Stocks

2,900

2,971

Debtors

28,486

47,048

Cash at bank and in hand

13,693

20,588

45,079

70,607

CREDITORS

Amounts falling due within one year

1,571,944

1,455,371

NET CURRENT LIABILITIES

(1,526,865

)

(1,384,764

)

TOTAL ASSETS LESS CURRENT LIABILITIES

542,091

956,464

CREDITORS

Amounts falling due after more than one year

6

(1,115,474

)

(1,145,371

)

PROVISIONS FOR LIABILITIES

9

-

(20,042

)

NET LIABILITIES

(573,383

)

(208,949

)

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

10

375,803

563,303

Retained earnings

(949,286

)

(772,352

)

SHAREHOLDERS' FUNDS

(573,383

)

(208,949

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 23 December 2025 and were signed on its behalf by:

P M Cadwallader - Director

I R Douglas - Director

1.	STATUTORY INFORMATION

Port Hotel Eastbourne 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 as modified by the revaluation of certain assets.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

The validity of the going concern basis depends upon the continued support of the company directors and bankers. The directors confirm that support will continue.

Preparation of consolidated financial statements

The financial statements contain information about Port Hotel Eastbourne Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents amounts receivable for hotel accommodation and food net of VAT.

Revenue from the sale of goods is recognised when the significant risks and rewards and ownership of the goods have been passed to the buyer (usually on dispatch of goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transactions will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from the sale of services is recognised by reference to the stage of completion and when the costs incurred and costs to complete can be estimated reliably. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

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.

Patents & licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

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

Long leasehold

-

1% on cost

Furniture,fittings & equipment

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

Stocks

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

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.

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 16 (2024 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

and 31 March 2025

1,561

AMORTISATION

At 1 April 2024

624

Amortisation for year

156

At 31 March 2025

780

NET BOOK VALUE

At 31 March 2025

781

At 31 March 2024

937

5.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 April 2024

2,539,772

Additions

806

Revaluations

(250,000

)

At 31 March 2025

2,290,578

DEPRECIATION

At 1 April 2024

199,481

Charge for year

22,922

At 31 March 2025

222,403

NET BOOK VALUE

At 31 March 2025

2,068,175

At 31 March 2024

2,340,291

Cost or valuation at 31 March 2025 is represented by:

Totals

£

Valuation in 2023

751,070

Valuation in 2025

(250,000

)

Cost

1,789,508

2,290,578

If freehold property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

1,498,930

1,498,930

Aggregate depreciation

44,446

44,446

Freehold property was valued on an open market basis on 21 September 2022 by Fleurets Leisure Property Specialists .

The directors confirm that the open market valuation of the freehold property is £2,000,000 which represents a decrease in value of the valuation that took place in September 2022.

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2025

2024

£

£

Repayable by instalments

Bank loans more 5 yr by instal

968,919

1,010,048

7.	LEASING AGREEMENTS

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

2025

2024

£

£

Within one year

2,244

2,244

Between one and five years

6,733

8,978

8,977

11,222

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

1,145,372

1,172,978

Loans of £1,145,372 (2024: £1,172,978) are secured by way of a fixed first charge over the leasehold property and a floating charge over all assets.

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Deferred tax on assets

16,266

21,772

Deferred tax on losses

(145,382

)

(192,309

)

Deferred tax on revaluation

129,116

190,579

-

20,042

Deferred

tax

£

Balance at 1 April 2024

20,042

Provided during year

(20,042

)

Balance at 31 March 2025

-

10.

RESERVES

Revaluation

reserve

£

At 1 April 2024

563,303

Revaluation reserve

(187,500

)

At 31 March 2025

375,803

11.	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.

Loans of £1,457,319 (2024: £1,306,606) were owed to the parent company, Port Hotels Limited.

During the year the company made net loan repayments of £Nil (2024: £Nil) to its parent company. The loan is not expected to be repaid before 31 March 2026. The rate of interest is LIBOR plus 5% (capped at 8%). Interest of £110,776 (2024: £99,177) has been charged in the year.

The company is a guarantor for a loan from 2 directors to its parent company. At the balance sheet date the loan balance was £1,457,319 (2024: £1,306,606).

12.	CONSOLIDATED FINANCIAL STATEMENTS

The company is a wholly owned subsidiary of Port Hotels Limited. Port Hotels Limited is exempt by virtue of section 399 of the Companies Act 2006 from the requirement to prepare consolidated financial statements. Copies of the financial statements for Port Hotels Limited can be obtained from Companies House in the United Kingdom.