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Registered number:
FOR THE YEAR ENDED 31 JULY 2025
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THAT BOURNEMOUTH BIG HOTEL LIMITED
COMPANY INFORMATION
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THAT BOURNEMOUTH BIG HOTEL LIMITED
CONTENTS
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THAT BOURNEMOUTH BIG HOTEL LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2025
The directors present their strategic report for the year ended 31 July 2025.
During the year to 31 July 2025 the company saw trading at the hotel into its tenth year. The business achieved good occupancy and daily rates compared to its peers, although the squeeze on consumer disposable income and the increase in costs have led to a pre-tax loss of £1,735,221 (2024: loss of £1,793,090). The company is an integral part of the That Bournemouth Company Limited group and its finances are closely intertwined with those of the group as a whole. After the year end two group companies entered into a sale and leaseback of its Hampton by Hilton property and its adjacent car park. The transaction completed on 14 July 2026. The £18.5m combined sales proceeds have been applied to reducing group outstanding HSBC bank indebtedness to £10m in this company, repayable on 14 July 2031.
The company's day-to-day operations are cash flow positive such that short term liquidity is of limited concern. The directors regularly review the maturity of borrowings and refinancing options are considered to ensure that there is sufficient liquidity within the company.
The company is a borrower under the group's HSBC bank facility. The company is exposed to market movements on floating interest rate borrowings. The group manages its floating interest rate risk by using interest rate hedging on the vast majority of its long-term floating-rate borrowings.
The company operates in a competitive regional market with other branded competition and there is a risk that competitor actions could have a detrimental impact on it. The company relies on its experienced hotel management service providers, Michels and Taylor Limited, to review the market continually and to develop strategies that are regularly reviewed in line with competitor decisions and actions. Health and safety The company is exposed to health and safety risks whilst its employees work, customers stay and others visit the company's properties. The company relies on its experienced hotel management service providers to manage these risks from day-to-day, including the implementation of training, preventative maintenance and reporting regimes. The hotel complies with Hilton Hotels' health and safety brand standards. Health and safety is regularly reviewed with the hotel management services providers. Information technology The hotel is reliant on information technology for their day-to-day operations, so the failure of core systems would significantly disrupt trading and its operations and adversely impact performance. In addition, there is a risk that customer data, including payment card data, could be compromised. The company relies on its experienced hotel management service providers to manage these risks from day-to-day for the hotels, and on Worldpay - an experienced provider of international secure payment services - to manage these risks on its behalf.
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THAT BOURNEMOUTH BIG HOTEL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
2025 2024
£000 £000 Turnover 8,676 9,263 EBITDA 395 125 As the hotel entered its tenth year of trading and performance has been positive with good occupancy and rates being achieved compared to their peers, and the hotels maintaining market leadership in their respective segments of the local market. However, in common with most hotels, the cost of living crisis has impacted leisure demand at the same time as increasing operating costs, so operating profits were impacted during the year. During the year end the trend started to reverse. The food and beverage business, including the meetings and events business, trades predominantly from That Bournemouth Big Hotel Limited's Hilton Hotel. Trading was satisfactory in the face of a competitive market.
The directors are of the opinion that the hotel remains well placed to prosper in the future.
The financial statements have been prepared on a going concern basis. The directors have reviewed and considered the relevant information including future trading projections and available banking facilities in making that assessment.
This report was approved by the board and signed on its behalf..
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THAT BOURNEMOUTH BIG HOTEL LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2025
The directors present their report and the financial statements for the year ended 31 July 2025.
The directors are responsible for preparing the strategic report, the directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent; and
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are 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 them to ensure that the financial statements comply with the Companies Act 2006. They are 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.
No dividends will be distributed for the year ended 31 July 2025 (2024: £Nil).
The directors who served during the year were:
The company has made qualifying third party indemnity provisions for the benefits of its directors which were made during the year and remain in force at the date of this report.
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THAT BOURNEMOUTH BIG HOTEL LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
As noted in notes 2.2 and 16, two Group companies completed the sale and lease back of their respective properties on 14 July 2026. Sales proceeds of £18.5m were used to reduce the group’s HSBC facility. This Company’s HSBC loan reduced to £10m as a result of these transactions, with a new £10m HSBC facility expiring 14 July 2031 being entered into at the same time.
The auditors, Cooper Parry Group Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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THAT BOURNEMOUTH BIG HOTEL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THAT BOURNEMOUTH BIG HOTEL LIMITED
We have audited the financial statements of That Bournemouth Big Hotel Limited (the 'company') for the year ended 31 July 2025, which comprise the profit and loss account, the balance sheet, the statement of changes in equity 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).
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 auditor's 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.
In auditing the financial statements, we have concluded that the directors' 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 directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our auditors' report thereon. The directors are 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.
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THAT BOURNEMOUTH BIG HOTEL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THAT BOURNEMOUTH BIG HOTEL LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
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 directors' report.
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THAT BOURNEMOUTH BIG HOTEL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THAT BOURNEMOUTH BIG HOTEL LIMITED (CONTINUED)
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 gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We discussed with the directors the policies and procedures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance. During the audit we focussed on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. Our procedures in relation to fraud, included but were not limited to: inquires of management whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates and challenged the assumptions and judgements made by management in its significant accounting estimates. We also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. Our tests included agreeing the financial statement disclosures to underlying supporting documentation. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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.
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THAT BOURNEMOUTH BIG HOTEL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THAT BOURNEMOUTH BIG HOTEL LIMITED (CONTINUED)
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.
for and on behalf of
Statutory Auditor
Davidson House
1st floor
The Forbury
RG1 3EU
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THAT BOURNEMOUTH BIG HOTEL LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 JULY 2025
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THAT BOURNEMOUTH BIG HOTEL LIMITED
REGISTERED NUMBER: 08565467
BALANCE SHEET
AS AT 31 JULY 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 12 to 26 form part of these financial statements.
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THAT BOURNEMOUTH BIG HOTEL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2025
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THAT BOURNEMOUTH BIG HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
That Bournemouth Big 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
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.
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.
The company made a loss of £1,738,166 in the year (2024: £1,780,419 loss) and is in a net liability position of £4,231,720 (2024: £2,493,554 net liability) net of amounts owed to connected companies of £1,431,535 at the year end.
The company and the group, with whom the company's finances are closely intertwined, was not in compliance with some financial covenants attaching to its £27.5m loans in the group from HSBC (of which £18.5m was included in this company), both during the year and after the year end. However, since the year end, sale and leaseback agreements were completed by a fellow subsidiary relating to its hotel, and by another fellow subsidiary relating to its car park. Combined proceeds of £18.5m were used to repay the relevant subsidiaries’ HSBC loans in full. The balance was used to reduce this company’s residual net loan with HSBC to £10m. A new £10m HSBC facility expiring 14 July 2031 was entered into at the same time as the sale and leaseback transactions completed, as such compliance was restored. The price achieved by the fellow subsidiaries was in excess of the carrying value of both properties within their respective Financial Statements. The company has support confirmed by the majority shareholder and director of the group. This confirmation of support has been made to the ultimate parent company and all subsidiaries and has been given for a period of at least twelve months from approval of these financial statements. The company and group are reliant upon the majority shareholders’ ongoing support. Based on the above, the directors have concluded that they can continue to adopt a going concern basis in preparing the company's annual report and accounts.
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows.
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THAT BOURNEMOUTH BIG HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
2.Accounting policies (continued)
Other income is recognised on receipt.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The estimated useful lives range as follows:
Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life.
Depreciation is provided on the following basis:
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 the profit and loss account.
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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.
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THAT BOURNEMOUTH BIG HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
2.Accounting policies (continued)
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, balances due from group companies 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. Other financial assets Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in the profit and loss account, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment. Impairment of financial assets Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Derecognition of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. Basic financial liabilities Basic financial liabilities, including creditors and amounts due to fellow group companies, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
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THAT BOURNEMOUTH BIG HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
2.Accounting policies (continued)
Other financial liabilities Derivatives, including interest rate swaps, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently remeasured at their fair value at the end of each reporting period. Changes in the fair value of derivatives are recognised in the profit and loss account in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge. Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy. Interest rate swap fair values at respective year ends are based on independent, qualified valuer's information. Derecognition of financial liabilities Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled. Equity instruments Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
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THAT BOURNEMOUTH BIG HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
2.Accounting policies (continued)
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
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. Critical judgements The items in the financial statements where these judgements and estimates have been made include: Depreciation Due to the significance of the depreciation charged in the financial statements, the directors consider this to be a crucial accounting judgement. An assessment is made of the useful economic lives, taking into account residual values, of the tangible assets, based on the directors' knowledge and industry. There are periodic reviews to determine if depreciation rates are still appropriate and whether any impairment is needed. Recoverability of intercompany and related party balances The company has balances due from related companies connected by common ownership. Management are of the opinion that these balances are fully recoverable by virtue of shareholder support which has been confirmed in writing and therefore no provision has been made against these balances. Deferred tax The company recognises deferred tax asset and liabilities to the extent which it believes the future tax will be payable.
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THAT BOURNEMOUTH BIG HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
The turnover and loss (2024: loss) before taxation are attributable to the one principal activity of the company.
An analysis of turnover by geographical market is given below:
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THAT BOURNEMOUTH BIG HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
There are no formal service contracts or associated pay with the directors of the company. Directors are employed by That Topco Limited, a company connected by way of common directorships, with their management charge calculated to include fees for services provided.
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THAT BOURNEMOUTH BIG HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
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THAT BOURNEMOUTH BIG HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
10.Taxation (continued)
There were no factors that may affect future tax charges.
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THAT BOURNEMOUTH BIG HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
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THAT BOURNEMOUTH BIG HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
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THAT BOURNEMOUTH BIG HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
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THAT BOURNEMOUTH BIG HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
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THAT BOURNEMOUTH BIG HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
At the year end £7,082 (2024: £12,096) was outstanding and included in creditors.
The bank loans are secured by a debenture dated 4 January 2019 over all leasehold and freehold property and by a fixed and floating charge over all assets of the company.
There is a composite company limited multilateral guarantee dated 4 January 2019 given by that Bournemouth Big Hotel Limited, That Bournemouth Little Hotel Limited, That Bournemouth Car Park Limited, That Bournemouth Street Bar Limited and That Bournemouth H2 Limited. The maximum group exposure is £32,000,000. The company is a member of a VAT group and is jointly and severally liable for the VAT liabilities of all other members of the group. At the reporting date, the company has confirmed that all VAT liabilities have been paid as they fall due, and the directors consider the likelihood of the company being required to settle the liabilities of other group members to be feasible but not probable. As such, no provision has been recognised. Due to the nature of the arrangement, it is not practicable to quantify the potential financial effect.
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THAT BOURNEMOUTH BIG HOTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
At the year end, the immediate parent company is That Bournemouth H2 Limited, whose registered office is the same as that of the company. The ultimate parent company, which is also the parent for the largest and smallest group of undertakings for which the group financial statements are drawn up for and of which the company is a member is That Bournemouth Company Limited, a company whose registered office is 18 Albert Road, Bournemouth, England, BH1 1BZ.
The ultimate controlling party is R S Kelvin CBE, director and majority shareholder of the ultimate parent company. Copies of the consolidated financial statements can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.
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