| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2025 |
| for |
| Atlantic Hotels (Chelmsford) Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2025 |
| for |
| Atlantic Hotels (Chelmsford) Limited |
| Atlantic Hotels (Chelmsford) Limited (Registered number: 03344437) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Atlantic Hotels (Chelmsford) Limited |
| Company Information |
| for the Year Ended 31 August 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 173 Cleveland Street |
| London |
| W1T 6QR |
| Atlantic Hotels (Chelmsford) Limited (Registered number: 03344437) |
| Balance Sheet |
| 31 August 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 9 |
| Equity contribution reserve | ( |
) | ( |
) |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Atlantic Hotels (Chelmsford) Limited (Registered number: 03344437) |
| Balance Sheet - continued |
| 31 August 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Atlantic Hotels (Chelmsford) Limited (Registered number: 03344437) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2025 |
| 1. | STATUTORY INFORMATION |
| Atlantic Hotels (Chelmsford) Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold property | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Land included in freehold property is not depreciated. |
| Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. |
| An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. |
| 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. |
| Atlantic Hotels (Chelmsford) Limited (Registered number: 03344437) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Financial instruments |
| Trade and other debtors/creditors |
| Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition, debtors and creditors payable or receivable within one year are measured at the undiscounted amount of the cash expected to be paid or received, net of impairment losses in the case of debtors. |
| Interest-bearing borrowings classified as basic financial instruments |
| Borrowings are recognised initially at the present value of future payments discounted at a market rate of interest. Subsequent to initial recognition, borrowings are stated at amortised cost using the effective interest method, less any impairment losses. |
| Cash and cash equivalents |
| Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the company's cash management are included as a component of cash and cash equivalents. |
| Going concern |
| The directors have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the company to continue as a going concern. On the basis of their assessment of the company's financial position, the directors have a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Atlantic Hotels (Chelmsford) Limited (Registered number: 03344437) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2025 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | and | Motor |
| property | fittings | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 September 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 August 2025 |
| DEPRECIATION |
| At 1 September 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 August 2025 |
| NET BOOK VALUE |
| At 31 August 2025 |
| At 31 August 2024 |
| Tangible assets held at valuation |
| The hotel was professionally valued at £3.63 million in November 2020 carried out by Christie & Co on the basis of Existing Use Value, as licensed operating hotel, inclusive of the trade furniture, furnishings and equipment in accordance with RICS Valuation - Global Standards (the 'Red Book'), incorporating the International Valuation Standards ('IVS') both effective from 31 January 2020. The hotel is carried forward at this professional valuation together with additions thereafter at cost. |
| The historical cost of land and buildings is £1,777,669 (2024: £1,777,669). |
| 5. | STOCKS |
| 2025 | 2024 |
| £ | £ |
| Stocks |
| 6. | DEBTORS |
| 2025 | 2024 |
| £ | £ |
| Amounts falling due within one year: |
| Amounts owed by group undertakings |
| Amounts owed by related undertakings | 1,028,290 | 1,037,584 |
| Other debtors |
| Amounts falling due after more than one year: |
| Amounts owed by related undertakings | 775,309 | - |
| Aggregate amounts |
| Atlantic Hotels (Chelmsford) Limited (Registered number: 03344437) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2025 |
| 6. | DEBTORS - continued |
| The loan of £775,309 (2024: amount due from related undertaking of £638,900) owed by a related undertaking is available at an average rate of finance to the group, plus a margin 0.125% per annum. |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Amounts owed to related undertakings | 225,000 | 638,900 |
| Taxation and social security |
| Other creditors |
| 8. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax |
| Deferred tax brought forward | 177,864 | 145,323 |
| Deferred Tax movement | (9,273 | ) | 32,541 |
| 168,591 | 177,864 |
| Deferred tax |
| £ |
| Balance at 1 September 2024 |
| Provided during year | ( |
) |
| Balance at 31 August 2025 |
| 9. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 September 2024 |
| Dividend paid | 7,683 |
| At 31 August 2025 |
| Atlantic Hotels (Chelmsford) Limited (Registered number: 03344437) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2025 |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 August 2025 and 31 August 2024: |
| 2025 | 2024 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 11. | RELATED PARTY DISCLOSURES |
| The company has given interest free loans repayable on demand of £251,102 (2024: £260,396) and £777,188 (2024: 777,188) respectively to the companies under the common control. |
| The company has also received the interest free loans repayable on demand of £114,000 (2024: £Nil) and £110,000 (2024: £Nil) and £1,000 (2024: £1,000) respectively from the companies under the common control. |
| As the company is a wholly owned subsidiary of Cool Inn Limited, a company incorporated in England and Wales and its ultimate parent and controlling company is Sycamore Limited, a company registered in Isle of Man, the company has taken advantage of the exemption contained in FRS 102.33 and has therefore not disclosed transactions on balances with entities which form part of the group headed by Sycamore Ltd. |
| 12. | ULTIMATE CONTROLLING PARTY |
| The immediate parent undertaking is Cool Inn Ltd, a company incorporated in England and Wales. The ultimate controlling party is Sycamore Limited, a company registered in Isle of Man. |
| 13. | CONTINGENCIES |
| The company has given an unlimited guarantee in respect of the bank borrowings of certain group undertakings. This is in addition to a first legal charge over the freehold property, over the group undertakings land and buildings and debenture in favour of the bank. At the balance sheet date the bank borrowing of these group undertakings was £0.5m (2024: £2.2m). |