Priory Hotels Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: SC049961 (Scotland)

Abridged Unaudited Financial Statements for the Year Ended 31 October 2025

for

Priory Hotels Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms P Dick

Ms K Hughes

K S Hutton

P G Lloyd

REGISTERED OFFICE:

Priory Hotel

The Square

Beauly

Inverness-shire

IV4 7BX

REGISTERED NUMBER:

SC049961 (Scotland)

ACCOUNTANTS:

Stewart & Stewart Ltd

Chartered Accountants

Achorn House

34 Millbank Road

Munlochy

Ross-Shire

IV8 8ND

FIXED ASSETS

Tangible assets

4

1,403,734

1,544,589

CURRENT ASSETS

Stocks

21,265

20,055

Debtors

58,589

70,121

Cash at bank and in hand

346,064

298,468

425,918

388,644

CREDITORS

Amounts falling due within one year

398,498

434,785

NET CURRENT ASSETS/(LIABILITIES)

27,420

(46,141

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,431,154

1,498,448

CREDITORS

Amounts falling due after more than one
year

(265,548

)

(368,342

)

PROVISIONS FOR LIABILITIES

(31,695

)

(45,583

)

NET ASSETS

1,133,911

1,084,523

CAPITAL AND RESERVES

Called up share capital

7

47,800

Share premium

25,200

Revaluation reserve

588,365

625,738

Capital redemption reserve

15,500

Retained earnings

457,046

370,285

SHAREHOLDERS' FUNDS

1,133,911

1,084,523

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 October 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 30 April 2026 and were signed on its behalf by:

K S Hutton - Director

1.	STATUTORY INFORMATION

Priory Hotels Ltd is a private company, limited by shares , registered in Scotland. 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.

Turnover 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. Turnover is recognised when the amount of turnover 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 when the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

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

Freehold property

-

Straight line over 10-50 years

Fixtures and fittings

-

Straight line over 3-6 years

Motor vehicles

-

25% on reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non convertible preference shares and non puttable ordinary or preference shares are publicly traded or their fair value can otherwise be measured reliably , the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss immediately.

All equity investments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit and loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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.

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 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 55 (2024 - 55 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 November 2024

2,772,641

Additions

53,419

Disposals

(154,035

)

At 31 October 2025

2,672,025

DEPRECIATION

At 1 November 2024

1,228,052

Charge for year

46,203

Eliminated on disposal

(5,964

)

At 31 October 2025

1,268,291

NET BOOK VALUE

At 31 October 2025

1,403,734

At 31 October 2024

1,544,589

Included in cost or valuation of land and buildings is freehold land of £ 199,743 (2024 - £ 199,743 ) which is not depreciated.

Cost or valuation at 31 October 2025 is represented by:

Totals

£

Valuation in 2022

538,802

Valuation in 2024

35,465

Cost

2,097,758

2,672,025

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

31.10.25

31.10.24

£

Cost

1,522,217

1,610,776

Aggregate depreciation

705,719

701,906

Value of land in freehold land and buildings

199,743

5.	LEASING AGREEMENTS

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

31.10.25

31.10.24

£

Within one year

5,861

Between one and five years

4,709

10,570

16,431

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.25

31.10.24

£

Bank loans

368,341

471,135

Bank loans and overdrafts totalling £368,341 (2024: £471,135) are secured by way of a floating charge over the company's freehold land and buildings and current assets.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.25

31.10.24

value:

£

47,800

Ordinary

£1

47,800