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Registered number: 07374321 Dover Marina Hotel Limited Annual report and financial statements For the Year Ended 31 March 2025
Dover Marina Hotel Limited Company Information
Director | Kanagaratnam Rajaseelan
Company secretary | Kanagaratnam Rajaseelan
Registered number | 07374321
Registered office | Dover Marina Hotel - Tapestry Collection by Hilton
| Waterfront Waterloo Crescent
| Dover
| Kent
| England
| CT17 9BP
Independent auditors | Mantax Lynton
| Chartered Accountants & Statutory Auditors
| Suite 207 Equitable House
| 7 General Gordon Square
| London
| United Kingdom
| SE18 6FH
Accountants | Accountancy Group Ltd
| SVS House Oliver Grove
| London
| SE25 6EJ
Dover Marina Hotel Limited Contents
| Page
Strategic report | 1
Director's report | 2 - 3
Independent auditors' report | 4 - 7
Statement of comprehensive income | 8
Statement of financial position | 9
Statement of changes in equity | 10
Statement of cash flows | 11
Analysis of net debt | 12
Notes to the financial statements | 13 - 25
Dover Marina Hotel Limited Strategic report For the Year Ended 31 March 2025
Introduction
The directors present their strategic report for the year ended 31 March 2025.
Business review
The principal activity of the Company during the year under review continued as hotel business. The results for the year and financial position of the group are shown in the annexed financial statements. Despite difficult trading conditions and uncertainties in the economy, turnover of the company has increased from £5.1 million in 2024 to £5.80 million in the current year. Due to inflation and rising wages costs led to reduction in gross profits from £1.8 million in 2024 to £1.7 million in the current year. Despite reduction in gross profits, with efficient cost control strategy, the company managed to earn profits before tax of £78k (2024: Loss £32k). Net assets of the Company have increased from £84k in 2024 to £365k in the current year. After the year end, the Company changed the hotel’s branding from Best Western to Dover Marina Hotel & Spa, Tapestry Collection by Hilton. The rebranding is expected to give rise to significant one off implementation and transition costs, which may adversely affect profitability in the short term. The Directors believe that the move will strengthen the hotel’s market positioning and customer reach through association with the Hilton brand and distribution platform, and are therefore confident that profitability will improve over the longer term.
Principal risks and uncertainties
The business has performed as well as expected in the current year. However the future prospect is challenging due to bleak economic outlook, increasing interest rate and cost of living crisis. Also Brexit continues to pose a threat for the businesses in Dover area. However, the director is confident that with continuous support from its lenders and shareholder, the company will be able to maintain its growth. The company considers health and safety to be a priority and very important issue. We have a positive and professional attitude towards health and hygiene, accordingly our restaurant is awarded 4 star rating from the council.
Financial key performance indicators
The key performance indicators of the group are considered to be occupancy, turnover and earnings before interest, taxation, depreciation and amortisation (EBITDA).
Other key performance indicators
Given the straight forward nature of business, the director is of the opinion that analysis using other key performance indicator is not necessary for an understanding of the development, performance or position of the business. This report was approved by the board on 13 February 2026 and signed on its behalf.
Kanagaratnam Rajaseelan Director
Page 1
Dover Marina Hotel Limited Director's report For the Year Ended 31 March 2025 The director presents his report and the financial statements for the year ended 31 March 2025.
Director's responsibilities statement
The director is responsible for preparing the Strategic report, the Director's report and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the director is required to: ∙select suitable accounting policies for the Company's financial statements and then apply them consistently; ∙make judgments 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Results and dividends
The profit for the year, after taxation, amounted to £281,199 (2024 - loss £80,031).
Director
The director who served during the year was:
Kanagaratnam Rajaseelan
Disclosure of information to auditors
The director at the time when this Director's report is approved has confirmed that: ∙so far as is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙ has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.
Post balance sheet events
There have been no significant events affecting the Company since the year end. Page 2
Dover Marina Hotel Limited Director's report (continued) For the Year Ended 31 March 2025
Auditors
The auditors, Mantax Lynton, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board on 13 February 2026 and signed on its behalf.
Kanagaratnam Rajaseelan Director
Page 3
Dover Marina Hotel Limited Independent auditors' report to the members of Dover Marina Hotel Limited
Opinion
We have audited the financial statements of Dover Marina Hotel Limited (the 'Company') for the year ended 31 March 2025, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of cash flows, the Statement of changes in equity and the related notes, 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 Company's affairs as at 31 March 2025 and of its 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 Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 director's 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 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 director with respect to going concern are described in the relevant sections of this report. Page 4
Dover Marina Hotel Limited Independent auditors' report to the members of Dover Marina Hotel Limited (continued)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is responsible for the other information contained within the Annual Report. 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. 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 course of 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.
Opinion 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 Strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Strategic report and the Director's report 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 Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Director's report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of director's 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 Director's responsibilities statement set out on page 2, the director is 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 director determines is 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 director is responsible for assessing the 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 director either intends to liquidate the Company or to cease operations, or have no realistic alternative but to do so. Page 5
Dover Marina Hotel Limited Independent auditors' report to the members of Dover Marina Hotel Limited (continued)
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 an Auditors' report 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: ∙We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, FRS 102 and relevant taxation legislation. ∙We identified the greatest risks of material impact on the financial statements from irregularities, including fraud, to be override of controls by management, inappropriate revenue recognition and going concern. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, reviewing accounting estimates for biases, corroborating revenue recognised by the company through agreements to supporting documentation and ensuring accounting policies are appropriate under United Kingdom Generally Accepted Accounting Practice and applicable law. ∙Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations. ∙These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations. 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 Auditors' report. Page 6
Dover Marina Hotel Limited Independent auditors' report to the members of Dover Marina Hotel Limited (continued)
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 an Auditors' report 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. Mr Janak Raj Pokhrel (Senior statutory auditor) for and on behalf of Mantax Lynton Chartered Accountants Statutory Auditors Suite 207 Equitable House 7 General Gordon Square London United Kingdom SE18 6FH 13 February 2026 Page 7
Dover Marina Hotel Limited Statement of comprehensive income For the Year Ended 31 March 2025
| 2025 | 2024
Note | £ | £
Turnover |  | 5,797,338 | 5,092,840
Cost of sales |  | (4,022,360) | (3,254,443)
Gross profit |  | 1,774,978 | 1,838,397
Administrative expenses |  | (2,012,505) | (2,062,824)
Other operating income |  | 319,385 | 240,000
Operating profit |  | 81,858 | 15,573
Interest payable and similar expenses |  | (3,846) | (48,300)
Profit/(loss) before tax |  | 78,012 | (32,727)
Tax on profit/(loss) |  | 203,187 | (47,304)
Profit/(loss) for the financial year |  | 281,199 | (80,031)
Other comprehensive income for the year |  |  |
Total comprehensive income for the year |  | 281,199 | (80,031)
The notes on pages 13 to 25 form part of these financial statements.
Page 8
Dover Marina Hotel Limited Registered number: 07374321 Statement of financial position As at 31 March 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 10 |  | 6,012,457 |  | 4,284,831
|  |  | 6,012,457 |  | 4,284,831
Current assets |  |  |  |  |
Stocks |  | 71,211 |  | 42,474 |
Debtors: amounts falling due within one year | 11 | 1,128,141 |  | 2,678,617 |
Cash at bank and in hand | 12 | 161,636 |  | 17,439 |
|  | 1,360,988 |  | 2,738,530 |
Creditors: amounts falling due within one year | 13 | (6,715,696) |  | (6,405,929) |
Net current liabilities |  |  | (5,354,708) |  | (3,667,399)
Total assets less current liabilities |  |  | 657,749 |  | 617,432
Creditors: amounts falling due after more than one year | 14 |  | (12,936) |  | (50,631)
Provisions for liabilities |  |  |  |  |
Deferred tax | 16 | (279,612) |  | (482,799) |
|  |  | (279,612) |  | (482,799)
Net assets |  |  | 365,201 |  | 84,002
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 8 |  | 8
Profit and loss account | 17 |  | 365,193 |  | 83,994
|  |  | 365,201 |  | 84,002
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 February 2026.
Kanagaratnam Rajaseelan
Director
The notes on pages 13 to 25 form part of these financial statements. Page 9
Dover Marina Hotel Limited Statement of changes in equity For the Year Ended 31 March 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 April 2023 (as previously stated) | 8 | 599,520 | 599,528
Prior year adjustment - correction of error | - | (435,495) | (435,495)
At 1 April 2023 (as restated) | 8 | 164,025 | 164,033
Loss for the year | - | (80,031) | (80,031)
Total comprehensive income for the year | - | (80,031) | (80,031)
At 1 April 2024 | 8 | 83,994 | 84,002
Comprehensive income for the year |  |  |
Profit for the year | - | 281,199 | 281,199
Other comprehensive income for the year | - | - | -
Total transactions with owners | - | - | -
| The notes on pages 13 to 25 form part of these financial statements.
Page 10
Dover Marina Hotel Limited Statement of cash flows For the Year Ended 31 March 2025
|  |  | 2025 | 2024
|  |  | £ | £
Cash flows from operating activities |  |
Profit/(loss) for the financial year | 281,199 | (80,031)
Adjustments for: |  |
Depreciation of tangible assets | 436,335 | 460,073
Interest paid | 3,846 | 48,300
Taxation charge | (203,187) | 47,304
(Increase)/decrease in stocks | (28,737) | 5,379
(Increase) in debtors | (256,468) | (289,168)
Decrease in amounts owed to companies under common control | 621,950 | 154,137
Increase in creditors | 125,538 | 226,469
Increase/(decrease)) in amounts owed to groups | 1,075,956 | (82,280)
Net cash generated from operating activities | 2,056,432 | 490,183
Cash flows from investing activities |  |
Purchase of tangible fixed assets | (1,853,494) | (492,152)
Net cash from investing activities | (1,853,494) | (492,152)
Cash flows from financing activities |  |
Repayment of/new finance leases | (35,415) | (31,510)
Interest paid | - | (48,300)
HP interest paid | (3,846) | -
Net cash used in financing activities | (39,261) | (79,810)
Net increase/(decrease) in cash and cash equivalents | 163,677 | (81,779)
Cash and cash equivalents at beginning of year | (2,041) | 79,738
Cash and cash equivalents at the end of year | 161,636 | (2,041)
Cash and cash equivalents at the end of year comprise: |  |
Cash at bank and in hand | 161,636 | 17,439
Bank overdrafts | - | (19,480)
| 161,636 | (2,041)
The notes on pages 13 to 25 form part of these financial statements.
Page 11
Dover Marina Hotel Limited Analysis of Net Debt For the Year Ended 31 March 2025
|  | At 1 April 2024 | Cash flows | At 31 March 2025
|  | £ | £ | £
Cash at bank and in hand | 17,439 | 144,197 | 161,636
Bank overdrafts | (19,480) | 19,480 | -
Debt due within 1 year | (5,480,877) | (204,894) | (5,685,771)
Finance leases | (85,767) | 35,415 | (50,352)
| (5,568,685) | (5,802) | (5,574,487)
The notes on pages 13 to 25 form part of these financial statements.
Page 12
Dover Marina Hotel Limited Notes to the financial statements For the Year Ended 31 March 2025
1. | General information
Dover Marina Hotel Limited is a company limited by shares, incorporated in England and Wales. Its registered office is Dover Marina Hotel - Tapestry Collection By Hilton Waterfront, Waterloo Crescent, Dover, England, CT17 9BP. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Going concern
At the balance sheet date the Company had net current liabilities of £5,354,708 (2024: £3,667,399). Included within current liabilities is approximately £5.7 million due to the director and ultimate beneficial owner of the wider group, the parent company and other undertakings under his control. The director and those undertakings have confirmed in writing that they will not demand repayment of these amounts and will continue to provide financial support, unless and until the Company’s liquidity position improves, so that the Company is able to meet its liabilities as they fall due. Hence it is appropriate to prepare the financial statements on going concern basis. Page 13
Dover Marina Hotel Limited Notes to the financial statements For the Year Ended 31 March 2025 2.Accounting policies (continued)
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.4 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.5 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.6 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred. Page 14
Dover Marina Hotel Limited Notes to the financial statements For the Year Ended 31 March 2025 2.Accounting policies (continued)
| 2.7 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.8 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.9 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 15
Dover Marina Hotel Limited Notes to the financial statements For the Year Ended 31 March 2025 2.Accounting policies (continued)
| 2.9 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Current year acquisition of plant and machinery, Fixtures and fittings & Computer equipment charged in the following year. Depreciation is provided on the following basis:
|  |  |  | Motor vehicles | - | 15% | reducing balance
|  |  |  | Fixtures, fittings and equipments | - | 10% | reducing balance
|  |  |  | Computer equipment | - | 15% | reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.10 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.11 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.12 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. In the Statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.
| 2.13 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 16
Dover Marina Hotel Limited Notes to the financial statements For the Year Ended 31 March 2025 2.Accounting policies (continued)
| 2.14 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.15 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102. Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is Page 17
Dover Marina Hotel Limited Notes to the financial statements For the Year Ended 31 March 2025 2.Accounting policies (continued)
| 2.15 | Financial instruments (continued)
due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
In preparing the financial statements, management are required to make estimates and judgments which may materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and liabilities, and the valuation of investment properties, which were based on open market transactions. The estimates and assumptions are reviewed on an on-going basis and are based on historical experience and other factors that are considered to be relevant. Actual results may defer from these estimates. Revision to accounting estimates are recognised in the period in which the estimate is revised.
4. | Turnover
| An analysis of turnover by class of business is as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Sales | 5,797,338 | 5,092,840
|  | 5,797,338 | 5,092,840
Analysis of turnover by country of destination:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| United Kingdom | 5,797,338 | 5,092,840
|  | 5,797,338 | 5,092,840
5. | Other operating income
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other operating income | 319,385 | 240,000
|  | 319,385 | 240,000
Page 18
Dover Marina Hotel Limited Notes to the financial statements For the Year Ended 31 March 2025
6. | Auditors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the Company's auditors for the audit of the Company's financial statements | 7,500 | 7,500
7. | Employees
| Staff costs were as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 1,990,683 | 1,645,067
| Social security costs | 132,492 | 103,917
| Cost of defined contribution scheme | 24,612 | 21,291
|  | 2,147,787 | 1,770,275
| The average monthly number of employees, including directors, during the year was 78 (2024 - 72).
8. | Interest payable and similar expenses
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank interest payable | - | 48,300
| Finance leases and hire purchase contracts | 3,846 | -
|  | 3,846 | 48,300
Page 19
Dover Marina Hotel Limited Notes to the financial statements For the Year Ended 31 March 2025
9. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Total current tax | - | -
| Deferred tax |  |
| Origination and reversal of timing differences | (203,187) | 47,304
| Total deferred tax | (203,187) | 47,304
| Tax on profit/(loss) | (203,187) | 47,304
| Factors affecting tax charge for the year
| There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of 25% (2024 - 25%).
| Factors that may affect future tax charges
The Company has tax losses of £1.9 million which are carried forward and available to offset against future profits. Page 20
Dover Marina Hotel Limited Notes to the financial statements For the Year Ended 31 March 2025
10. | Tangible fixed assets
|  | Motor vehicles | Fixtures, fittings & equipments | Computer equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 April 2024 | 161,167 | 8,186,441 | 28,729 | 8,376,337
| Additions | - | 1,840,538 | 12,956 | 1,853,494
| Transfers intra group | - | 361,870 | - | 361,870
| At 31 March 2025 | 161,167 | 10,388,849 | 41,685 | 10,591,701
| Depreciation |  |  |  |
| At 1 April 2024 | 24,175 | 4,058,634 | 8,697 | 4,091,506
| Charge for the year on owned assets | 20,549 | 412,781 | 3,005 | 436,335
| Transfers intra group | - | 51,403 | - | 51,403
| At 31 March 2025 | 44,724 | 4,522,818 | 11,702 | 4,579,244
| Net book value |  |  |  |
| At 31 March 2025 | 116,443 | 5,866,031 | 29,983 | 6,012,457
| The net book value of land and buildings may be further analysed as follows:
| The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|  |  |  |  | 2025
|  |  |  |  | £
| Motor vehicles | 116,443
|  | 116,443
Page 21
Dover Marina Hotel Limited Notes to the financial statements For the Year Ended 31 March 2025
11. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 156,794 | 192,567
| Amounts owed by companies under common control | 497,439 | 2,304,383
| Other debtors | 78,247 | 6,349
| Prepayments and accrued income | 395,661 | 175,318
|  | 1,128,141 | 2,678,617
12. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 161,636 | 17,439
| Less: bank overdrafts | - | (19,480)
|  | 161,636 | (2,041)
13. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank overdrafts | - | 19,480
| Trade creditors | 709,203 | 489,618
| Amounts owed to group undertakings | 2,216,663 | 1,140,707
| Amounts owed to companies under common control | 3,459,613 | 3,134,140
| Other taxation and social security | 99,063 | 43,988
| Obligations under finance lease and hire purchase contracts | 37,416 | 35,136
| Other creditors | 35,871 | 1,212,394
| Accruals and deferred income | 157,867 | 330,466
|  | 6,715,696 | 6,405,929
Page 22
Dover Marina Hotel Limited Notes to the financial statements For the Year Ended 31 March 2025
14. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Net obligations under finance leases and hire purchase contracts | 12,936 | 50,631
|  | 12,936 | 50,631
15. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Within one year | 37,416 | 35,136
| Between 1-5 years | 12,936 | 50,631
|  | 50,352 | 85,767
Page 23
Dover Marina Hotel Limited Notes to the financial statements For the Year Ended 31 March 2025
16. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | (482,799)
| Utilised in year | 203,187
| At end of year | (279,612)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (279,612) | (482,799)
|  | (279,612) | (482,799)
17. | Reserves
Profit and loss account This represents the accumulated retained earning of the Company which is a fully distributable reserve
18. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £24,612 (2024: £21,291).Contributions totaling £8,616 (2024: £5,150) were outstanding at year end.
19. | Business restructure
On 22 January 2025 the Protea House Ltd (Company number: 13724094) and Waterloo Crescent House Ltd (Company number: 13724120) became the fellow subsidiaries of the company following a group restructure under common control. The director, Mr K Rajaseelan is the ultimate controlling party of Dover Marina Hotel Holdings Limited. On 10 February 2025, as part of the same restructuring, Waterloo Crescent House Ltd and Protea House Ltd transferred their trade and trading assets to the company at net book value. The Directors consider the hive up to be a group reconstruction. In accordance with FRS 102 Section 19 and the accounting policy adopted for group reconstruction, the transfer has been recognised at existing carrying values of the assets and liabilities transferred, with no goodwill recognised. Page 24
Dover Marina Hotel Limited Notes to the financial statements For the Year Ended 31 March 2025
20. | Related party transactions
| The Company has taken exemption under FRS 102, not to disclose any transactions entered into between group companies that are eliminated on consolidation. The ultimate parent Company, Dover Marina Hotel Holding Limited, prepares group accounts. Copy of group accounts are available from Tudor Lodge Care Home, 18-20 Manor Road, Folkestone, United Kingdom, CT20 2SA. . During the year, the Company had unsecured interest free loan transactions with the companies under common control as below. These advances are repayable on demand. During the year, a loan of £1,200,000 due to the director was assigned to a company under the director’s common control. At the balance sheet date, £3,459,613 was outstanding to that company and included in creditors
|  | 1 April 2024 | Payments | Receipts | 31 March 2025
|  | £ | £ | £ | £
| Owed by companies under common control | 2,304,382 | 167,026 | (1,973,970) | 497,438
| Owed to companies under common control | (3,134,140) | 2,301,268 | (2,626,741) | (3,459,613)
| Director's current account | (1,200,879) | 1,200,000 | - | (879)
|  | (2,030,637) | 3,668,294 | (4,600,711) | (2,963,054)
21. | Post balance sheet events
After the reporting date, the Company entered into arrangements to change the hotel branding from Best Western to Dover Marina Hotel & Spa, Tapestry Collection by Hilton. The change of branding has been effective from 17 September 2025 and involve one off rebranding costs and related implementation works together with ongoing franchise and marketing fees under the Hilton brand. The Director is unable to quantify the financial effect of the rebranding at the date of approval of these financial statements.
22. | Controlling party
The ultimate parent company is Dover Marina Hotel Holdings Limited and the ultimate controlling party is Mr K Rajaseelan, who owns entire share capital in the ultimate parent Company.
Page 25