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REGISTERED NUMBER: 10653004 (England and Wales)

THAT TORQUAY HOTEL LIMITED

Unaudited Financial Statements

for the Year Ended 31 December 2024

THAT TORQUAY HOTEL LIMITED (REGISTERED NUMBER: 10653004) |

Contents of the Financial Statements

for the year ended 31 December 2024

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| THAT TORQUAY HOTEL LIMITED |

Company Information

for the year ended 31 December 2024

| Directors: | S A Brown

| R S Kelvin CBE

| P S Tisdale

| Registered office: | 18 Albert Road

| Bournemouth

| BH1 1BZ

| Registered number: | 10653004 (England and Wales)

| Accountants: | Cooper Parry Advisory Limited

| Broadwalk House, 5th Floor

| 5 Appold Street

| Broadgate

| London

| EC2A 2AG

THAT TORQUAY HOTEL LIMITED (REGISTERED NUMBER: 10653004) |

Balance Sheet

31 December 2024

2024 | 2023 |

| Notes | £ | £

Fixed assets

Tangible assets | 4 | 16,180,560 |  | 16,664,309 |  |

Current assets

Stocks | 6,669 |  | 5,953 |  |

Debtors | 5 | 316,210 |  | 321,565 |  |

Cash at bank and in hand | 119,522 |  | 232,639 |  |

442,401 |  | 560,157 |  |

Creditors

Amounts falling due within one year | 6 | (18,846,262 | ) | (18,556,962 | ) |

Net current liabilities | (18,403,861 | ) | (17,996,805 | ) |

Total assets less current liabilities | (2,223,301 | ) | (1,332,496 | ) |

Provisions for liabilities | (479,239 | ) | (141,669 | ) |

Net liabilities | (2,702,540 | ) | (1,474,165 | ) |

Capital and reserves

Called up share capital | 7 | 100 |  | 100 |  |

Retained earnings | (2,702,640 | ) | (1,474,265 | ) |

Shareholders' funds | (2,702,540 | ) | (1,474,165 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2026 and were signed on its behalf by:

S A Brown - Director

THAT TORQUAY HOTEL LIMITED (REGISTERED NUMBER: 10653004) |

Notes to the Financial Statements

for the year ended 31 December 2024

1. | Statutory information

| That Torquay 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

| Accounting convention

| These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

| The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

| Going concern

| At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and the ultimate controlling party will give continued support. Hence, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

| Judgements and key sources of estimation uncertainty

| In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

| Key sources of estimation uncertainty

| The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

| Depreciation

| The director considers the depreciation policy to be a crucial accounting estimate. The expected useful life of all fixed asset categories are reviewed annually by management based on industry experience and are considered reasonable.

| Management charge

| Management recharges are levied by That Topco Limited, a company connected by way of common directorships. The recharge which includes salary and overhead costs is based on management's estimate of the amount of time spend on the affairs of That Torquay Hotel Limited.

| Turnover

| Turnover is recognised at the fair value of the consideration receivable for services provided in the normal course of business, to the date when the service is provided and is shown net of VAT and trade discounts.

THAT TORQUAY HOTEL LIMITED (REGISTERED NUMBER: 10653004) |

Notes to the Financial Statements - continued

for the year ended 31 December 2024

2. | Accounting policies - continued

| Tangible fixed assets

| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

| Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.

| Leasehold property |  | 125 years |  |

| Plant and machinery |  | 15 & 25 years |  |

| Fixtures, fitting and equipment |  | 12 years |  |

| Impairment of fixed assets

| At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

| Stocks

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

| Financial instruments

| The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

| Basic financial assets

| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs . Financial assets classified as receivable within one year are not amortised.

| Basic financial liabilities

| Basic financial liabilities, including creditors and loans from connected companies a re initially recognised at transaction price . Financial liabilities classified as payable within one year are not amortised.

| Equity instruments

| Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

| Taxation

| The tax expense represents the sum of the tax currently payable and deferred tax.

| Current tax

| The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

| Deferred tax

| Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised 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 39 (2023 - 39 ) .

THAT TORQUAY HOTEL LIMITED (REGISTERED NUMBER: 10653004) |

Notes to the Financial Statements - continued

for the year ended 31 December 2024

4. | Tangible fixed assets

Fixtures |

Leasehold | Plant and | and |

property | machinery | fittings | Totals |

| £ | £ | £ | £

| Cost

| At 1 January 2024 | 10,553,622 |  | 3,534,719 |  | 4,186,028 |  | 18,274,369 |  |

| Additions | - |  | 12,381 |  | 140,757 |  | 153,138 |  |

| At 31 December 2024 | 10,553,622 |  | 3,547,100 |  | 4,326,785 |  | 18,427,507 |  |

| Depreciation

| At 1 January 2024 | 220,515 |  | 506,287 |  | 883,258 |  | 1,610,060 |  |

| Charge for year | 84,904 |  | 198,450 |  | 353,533 |  | 636,887 |  |

| At 31 December 2024 | 305,419 |  | 704,737 |  | 1,236,791 |  | 2,246,947 |  |

| Net book value

| At 31 December 2024 | 10,248,203 |  | 2,842,363 |  | 3,089,994 |  | 16,180,560 |  |

| At 31 December 2023 | 10,333,107 |  | 3,028,432 |  | 3,302,770 |  | 16,664,309 |  |

| The Royal Bank of Scotland PLC and Torbay Council have fixed and floating charges over the company's assets.

5. | Debtors: amounts falling due within one year |

2024 | 2023 |

| £ | £

| Trade debtors | 33,713 |  | 2,785 |  |

| Amounts owed by group undertakings | 221,635 |  | 258,947 |  |

| Other debtors | 60,862 |  | 59,833 |  |

316,210 |  | 321,565 |  |

6. | Creditors: amounts falling due within one year |

2024 | 2023 |

| £ | £

| Trade creditors | 339,244 |  | 280,791 |  |

| Amounts owed to group undertakings | 18,346,526 |  | 18,048,181 |  |

| Taxation and social security | 48,930 |  | 55,659 |  |

| Other creditors | 111,562 |  | 172,331 |  |

18,846,262 |  | 18,556,962 |  |

7. | Called up share capital

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

value: |  | £ | £

| 100 | Ordinary | £1 | 100 |  | 100 |  |

8. | Pension commitments

| The company operates a defined contribution 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 in the year and amounted to £11,324 (2023: £12,328). At the year end £7,569 (2023: £8,344) was outstanding and included in creditors.

THAT TORQUAY HOTEL LIMITED (REGISTERED NUMBER: 10653004) |

Notes to the Financial Statements - continued

for the year ended 31 December 2024

9. | Related party disclosures

| The company has taken advantage of the exemption available in FRS 102 from the requirement to disclose transactions with the group companies.

10. | Parent company

| The company's immediate parent company is That Torquay H2 Limited and the ultimate parent company is That Holdco Limited, both of which are incorporated in England and Wales.