Registration number:
Sidmouth Hotels Holdings Limited
for the Year Ended 31 January 2026
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Contents
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Company Information |
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Strategic Report |
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Director's Report |
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Statement of Director's Responsibilities |
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Independent Auditor's Report |
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Consolidated Profit and Loss Account |
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Consolidated Statement of Comprehensive Income |
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Consolidated Balance Sheet |
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Balance Sheet |
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Consolidated Statement of Changes in Equity |
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Statement of Changes in Equity |
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Consolidated Statement of Cash Flows |
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Statement of Cash Flows |
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Notes to the Financial Statements |
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Company Information
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Director |
M Seward |
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Registered office |
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Auditors |
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Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Strategic Report for the Year Ended 31 January 2026
The director presents his strategic report for the year ended 31 January 2026.
Principal activity
The principal activity of the group is the trading of Hotel Elizabeth and The Kingswood & Devoran Hotel.
Fair review of the business
The directors consider that the key financial performance indicators are those that communicate the financial performance and strength of the company as a whole, these being turnover and the assessment of gross and net profit margins.
Overall the director is satisfied with the profitability of the company.
The group's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2026 |
2025 |
|
Turnover |
£ |
2,503,541 |
2,438,835 |
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Turnover growth |
% |
3 |
2 |
|
Gross profit margin |
% |
49 |
46 |
|
Profit before tax |
£ |
143,752 |
136,011 |
|
Net assets |
£ |
1,348,208 |
1,349,845 |
Principal risks and uncertainties
The board of directors undertake a regular review of the company and the board of directors have identified that the principal risks faced by the company are economic downturns and consumer trends.
Approved and authorised by the
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Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Director's Report for the Year Ended 31 January 2026
The director presents his report and the for the year ended 31 January 2026.
Director of the group
The director who held office during the year was as follows:
Financial instruments
Objectives and policies
The company's principal financial instruments comprise bank balances, bank overdrafts, trade creditors and both long and short term loans to the company. The main purpose of these instruments is to raise funds for the company's operations.
Price risk, credit risk, liquidity risk and cash flow risk
Due to the non-complex nature of the financial instruments used by the company, there is no exposure to price risk.
In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts at variable rates of interest.
Loans comprise loans from the directors and from financial institutions. The interest rates and monthly repayments on the loans from financial institutions are variable. The business manages the liquidity risk by ensuring that there are sufficient funds to meet the payments.
Trade creditors' liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.
Future developments
The director does not envisage the business of the group changing in the foreseeable future, but continually looks for opportunities for further expansion.
Disclosure of information to the auditor
The director has taken steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditor is unaware.
Approved and authorised by the
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Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Statement of Director's Responsibilities
The director acknowledges his responsibilities for preparing the Annual 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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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 group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Independent Auditor's Report to the Members of Sidmouth Hotels Holdings Limited
Opinion
We have audited the financial statements of Sidmouth Hotels Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2026, which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, Statement of Cash Flows, and Notes to the Financial Statements, 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 group's and the parent company's affairs as at 31 January 2026 and of the group's 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 auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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 group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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.
Other information
The director are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. 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.
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Independent Auditor's Report to the Members of Sidmouth Hotels Holdings Limited
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and 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 our 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 and the Director's Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the parent company 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 the director
As explained more fully in the Statement of Director's Responsibilities [set out on page 4], 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.
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Independent Auditor's Report to the Members of Sidmouth Hotels Holdings Limited
Auditor 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 auditor’s 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.
The extent to which the audit was considered capable of detecting irregularities including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
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the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
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we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the hospitality and tourism sector; |
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we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental, fire safety and health and safety legislation; |
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we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing licenses, certificates and relevant correspondence including the inspection of legal correspondence; and |
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identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. |
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and |
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |
To address the risk of fraud through management bias and override of controls, we:
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performed analytical procedures to identify any unusual or unexpected relationships; |
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tested journal entries to identify unusual transactions; |
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Independent Auditor's Report to the Members of Sidmouth Hotels Holdings Limited
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assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and |
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investigated the rationale behind significant or unusual transactions. |
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
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agreeing financial statement disclosures to underlying supporting documentation; |
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reading the minutes of meetings of those charged with governance; |
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enquiring of management as to actual and potential litigation and claims; and |
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reviewing correspondence with HMRC, relevant regulators and the company’s legal advisors. |
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
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 auditor’s 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.
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For and on behalf of
1 Colleton Crescent
Devon
EX2 4DG
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Consolidated Profit and Loss Account for the Year Ended 31 January 2026
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Note |
2026 |
2025 |
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Turnover |
|
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Other operating income |
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Operating profit |
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Other interest receivable and similar income |
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Interest payable and similar expenses |
( |
( |
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Profit before tax |
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Taxation |
( |
( |
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Profit for the financial year |
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Profit/(loss) attributable to: |
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Owners of the company |
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The above results were derived from continuing operations.
The group has no recognised gains or losses for the year other than the results above.
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Consolidated Statement of Comprehensive Income for the Year Ended 31 January 2026
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2026 |
2025 |
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Profit for the year |
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Total comprehensive income for the year |
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Total comprehensive income attributable to: |
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Owners of the company |
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Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Consolidated Balance Sheet as at 31 January 2026
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Note |
2026 |
2025 |
|
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Fixed assets |
|||
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Tangible assets |
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Current assets |
|||
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Stocks |
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Debtors |
|
|
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Cash at bank and in hand |
|
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|
|
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||
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
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|
Net assets |
|
|
|
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Capital and reserves |
|||
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Called up share capital |
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Other reserves |
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Profit and loss account |
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Equity attributable to owners of the company |
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Total equity |
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Approved and authorised by the
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Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Balance Sheet as at 31 January 2026
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Note |
2026 |
2025 |
|
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Fixed assets |
|||
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Investments |
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Current assets |
|||
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Debtors |
|
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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|
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Total equity |
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The company made a profit after tax for the financial year of £85,160 (2025 - profit of £121,000).
Approved and authorised by the
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Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Consolidated Statement of Changes in Equity for the Year Ended 31 January 2026
Equity attributable to the parent company
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Share capital |
Other reserves |
Retained earnings |
Total |
Total equity |
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At 1 February 2025 |
|
|
|
|
|
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Profit for the year |
- |
- |
|
|
|
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Dividends |
- |
- |
( |
( |
( |
|
At 31 January 2026 |
|
|
|
|
|
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Share capital |
Other reserves |
Retained earnings |
Total |
Total equity |
|
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At 1 February 2024 |
|
|
|
|
|
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Profit for the year |
- |
- |
|
|
|
|
Dividends |
- |
- |
( |
( |
( |
|
At 31 January 2025 |
2 |
934,845 |
414,998 |
1,349,845 |
1,349,845 |
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Statement of Changes in Equity for the Year Ended 31 January 2026
|
Share capital |
Retained earnings |
Total |
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|
At 1 February 2025 |
|
- |
|
|
Profit for the year |
- |
|
|
|
Dividends |
- |
( |
( |
|
At 31 January 2026 |
|
- |
|
|
Share capital |
Retained earnings |
Total |
|
|
At 1 February 2024 |
|
- |
|
|
Profit for the year |
- |
|
|
|
Dividends |
- |
( |
( |
|
At 31 January 2025 |
2 |
- |
2 |
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Consolidated Statement of Cash Flows for the Year Ended 31 January 2026
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Note |
2026 |
2025 |
|
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Cash flows from operating activities |
|||
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Profit for the year |
|
|
|
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Adjustments to cash flows from non-cash items |
|||
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Depreciation and amortisation |
|
|
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|
Loss on disposal of tangible assets |
|
|
|
|
Finance income |
( |
( |
|
|
Finance costs |
|
|
|
|
Income tax expense |
|
|
|
|
|
|
||
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Working capital adjustments |
|||
|
Increase in stocks |
( |
- |
|
|
(Increase)/decrease in trade debtors |
( |
|
|
|
Increase in trade creditors |
|
|
|
|
Cash generated from operations |
|
|
|
|
Income taxes paid |
( |
( |
|
|
Net cash flow from operating activities |
|
|
|
|
Cash flows from investing activities |
|||
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Interest received |
|
|
|
|
Acquisitions of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
|
- |
|
|
Net cash flows from investing activities |
|
|
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Repayment of bank borrowing |
( |
( |
|
|
Payments to finance lease creditors |
( |
( |
|
|
Dividends paid |
( |
( |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net increase in cash and cash equivalents |
|
|
|
|
Cash and cash equivalents at 1 February |
|
( |
|
|
Cash and cash equivalents at 31 January |
262,985 |
229,060 |
|
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Statement of Cash Flows for the Year Ended 31 January 2026
|
Note |
2026 |
2025 |
|
|
Cash flows from operating activities |
|||
|
Profit for the year |
|
|
|
|
Adjustments to cash flows from non-cash items |
|||
|
Finance income |
( |
( |
|
|
Finance costs |
|
|
|
|
- |
- |
||
|
Working capital adjustments |
|||
|
Decrease in trade debtors |
|
|
|
|
(Decrease)/increase in trade creditors |
( |
|
|
|
Net cash flow from operating activities |
|
|
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Repayment of bank borrowing |
( |
( |
|
|
Dividends paid |
( |
( |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net increase/(decrease) in cash and cash equivalents |
- |
- |
|
|
Cash and cash equivalents at 1 February |
- |
- |
|
|
Cash and cash equivalents at 31 January |
- |
- |
|
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 January 2026.
No Profit and Loss Account is presented for the company as permitted by section 408 of the Companies Act 2006. The company made a profit after tax for the financial year of £85,160 (2025 - profit of £121,000).
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.
Going concern
The financial statements have been prepared on a going concern basis.
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
Critical accounting judgements and estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Critical accounting estimates and assumptions
The group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.
i. Useful economic lives of tangible assets.
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. See note 13 for the carrying amount of the property plant and equipment, and the accounting policies note for the useful economic lives for each class of assets.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the group.
The group recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the group's activities.
As such revenue is recognised in the period in which the service has been provided to the customer. Deposits received in advance of the service being provided are deferred and released on provision of the service.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 group operates and generates taxable income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements and on unused tax losses or tax credits in the group. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Land and buildings |
Straight line over 50 years |
|
Furniture, Fittings and Equipment |
20% reducing balance, 4% Straight Line (Solar) |
|
Motor vehicles |
25% reducing balance |
|
Computer equipment |
50% reducing balance |
Investment property
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Intangible assets
Intangible assets are stated in the Balance Sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
|
Asset class |
Amortisation method and rate |
|
Goodwill |
10 years straight line |
|
Intangible assets other than goodwill |
3 years straight line |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the group’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
|
Turnover |
The analysis of the group's Turnover for the year from continuing operations is as follows:
|
2026 |
2025 |
|
|
Accommodation revenue |
|
|
|
Food and beverage revenue |
|
|
|
Other revenue |
|
|
|
|
|
|
Other operating income |
The analysis of the group's other operating income for the year is as follows:
|
2026 |
2025 |
|
|
Miscellaneous other operating income |
|
|
|
Operating profit |
Arrived at after charging/(crediting)
|
2026 |
2025 |
|
|
Depreciation expense |
|
|
|
Amortisation expense |
- |
|
|
Operating lease expense - plant and machinery |
|
|
|
Loss on disposal of property, plant and equipment |
|
|
|
Other interest receivable and similar income |
|
2026 |
2025 |
|
|
Interest income on bank deposits |
|
- |
|
Other finance income |
|
|
|
|
|
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
|
Interest payable and similar expenses |
|
2026 |
2025 |
|
|
Interest on bank overdrafts and borrowings |
|
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
|
|
|
|
Staff costs |
The aggregate payroll costs (including director's remuneration) were as follows:
|
2026 |
2025 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Other short-term employee benefits |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
|
|
The average number of persons employed by the group (including the director) during the year, analysed by category was as follows:
|
2026 |
2025 |
|
|
Operational |
|
|
|
Administration and support |
|
|
|
|
|
|
Director's remuneration |
The director's remuneration for the year was as follows:
|
2026 |
2025 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
26,670 |
28,336 |
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
|
Auditors' remuneration |
|
2026 |
2025 |
|
|
Audit of these financial statements |
6,000 |
6,000 |
|
Taxation |
Tax charged/(credited) in the consolidated profit and loss account
|
2026 |
2025 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
UK corporation tax adjustment to prior periods |
- |
( |
|
61,677 |
72,936 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
( |
( |
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2025 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2026 |
2025 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Tax increase from effect of capital allowances and depreciation |
|
|
|
Decrease in UK and foreign current tax from unrecognised temporary difference from a prior period |
- |
( |
|
Deferred tax credit from unrecognised temporary difference from a prior period |
( |
( |
|
Tax decrease from other tax effects |
( |
( |
|
Total tax charge |
|
|
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
Deferred tax
Group
Deferred tax assets and liabilities
|
2026 |
Asset |
Liability |
|
Accelerated capital allowances |
- |
|
|
Provisions |
|
- |
|
|
|
|
2025 |
Asset |
Liability |
|
Accelerated capital allowances |
- |
|
|
Provisions |
|
- |
|
|
|
The directors have considered the deferred tax assets and liabilities and conclude that it is not possible to state the estimated amounts which will reverse within the next 12 months. This is due to the level of reversal being dependant on events which are not yet known.
|
Intangible assets |
Group
|
Goodwill |
Other intangible assets |
Total |
|
|
Cost or valuation |
|||
|
At 1 February 2025 |
|
|
|
|
At 31 January 2026 |
|
|
|
|
Amortisation |
|||
|
At 1 February 2025 |
|
|
|
|
At 31 January 2026 |
|
|
|
|
Carrying amount |
|||
|
At 31 January 2026 |
- |
- |
- |
|
At 31 January 2025 |
- |
- |
- |
Amortisation is included in administration expenses in the profit and loss account.
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
|
Tangible assets |
|
Group |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Computer equipment |
Total |
|
Cost or valuation |
|||||
|
At 1 February 2025 |
|
|
|
|
|
|
Additions |
- |
|
- |
|
|
|
Disposals |
- |
( |
( |
( |
( |
|
At 31 January 2026 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 February 2025 |
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
Eliminated on disposal |
- |
( |
( |
( |
( |
|
At 31 January 2026 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 31 January 2026 |
|
|
|
|
|
|
At 31 January 2025 |
|
|
|
|
|
Included within the net book value of land and buildings above is £4,668,993 (2025 - £4,796,368) in respect of freehold land and buildings.
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
|
2026 |
2025 |
|
|
Motor vehicles |
12,886 |
21,089 |
|
Investments |
Group
Details of undertakings
Details of the investments in which the group holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2026 |
2025 |
|||
|
Subsidiary undertakings |
||||
|
|
The Esplanade, Sidmouth, Devon, EX10 8AR |
|
|
|
|
England |
||||
|
|
The Esplanade, Sidmouth, Devon, EX10 8AR |
|
|
|
|
England |
||||
|
|
The Esplanade, Sidmouth, Devon, EX10 8AR |
|
|
|
|
England |
||||
|
|
The Esplanade, Sidmouth, Devon, EX10 8AR |
|
|
|
|
England |
||||
* Indicates a direct investment in the company.
All of the above subsidiary companies are registered in England and Wales.
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
Subsidiary undertakings
|
The principal activity of Sidmouth Hotels Limited is |
|
The principal activity of Dukes of Sidmouth Limited is |
|
The principal activity of Hotel Elizabeth Limited is |
|
The principal activity of Kingswood Hotel Limited is |
Company
|
2026 |
2025 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost or valuation |
|
|
At 1 February 2025 |
|
|
At 31 January 2026 |
|
|
Carrying amount |
|
|
At 31 January 2026 |
|
|
At 31 January 2025 |
|
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2026 |
2025 |
|||
|
Subsidiary undertakings |
||||
|
|
The Esplanade, Sidmouth, Devon, EX10 8AT England |
|
|
|
|
Subsidiary undertakings |
|
Sidmouth Hotels Limited The principal activity of Sidmouth Hotels Limited is |
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
|
Stocks |
|
Group |
Company |
|||
|
2026 |
2025 |
2026 |
2025 |
|
|
Other stocks |
|
|
- |
- |
|
Debtors |
|
Group |
Company |
||||
|
Current |
Note |
2026 |
2025 |
2026 |
2025 |
|
Amounts owed by related parties |
|
|
|
|
|
|
Other debtors |
|
|
|
|
|
|
Prepayments and accrued income |
|
|
- |
- |
|
|
|
|
|
|
||
Details of non-current trade and other debtors
Company
£666,363 (2025 - £833,201) of amounts owed by related parties is classified as non current.
|
Cash and cash equivalents |
|
Group |
Company |
|||
|
2026 |
2025 |
2026 |
2025 |
|
|
Cash on hand |
|
|
- |
- |
|
Cash at bank |
|
|
- |
- |
|
|
|
- |
- |
|
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
|
Creditors |
|
Group |
Company |
||||
|
Note |
2026 |
2025 |
2026 |
2025 |
|
|
Due within one year |
|||||
|
Loans and borrowings |
|
|
|
|
|
|
Trade creditors |
|
|
- |
- |
|
|
Amounts due to related parties |
|
|
- |
- |
|
|
Social security and other taxes |
|
|
- |
- |
|
|
Outstanding defined contribution pension costs |
|
|
- |
- |
|
|
Other creditors |
|
- |
- |
- |
|
|
Accruals and deferred income |
|
|
|
|
|
|
Corporation tax liability |
61,677 |
73,656 |
- |
- |
|
|
|
|
|
|
||
|
Due after one year |
|||||
|
Loans and borrowings |
|
|
|
|
|
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
|
Loans and borrowings |
Current loans and borrowings
|
Group |
Company |
|||
|
2026 |
2025 |
2026 |
2025 |
|
|
Bank borrowings |
|
|
|
|
|
Finance lease liabilities |
|
|
- |
- |
|
|
|
|
|
|
Non-current loans and borrowings
|
Group |
Company |
|||
|
2026 |
2025 |
2026 |
2025 |
|
|
Bank borrowings |
|
|
|
|
|
Finance lease liabilities |
- |
|
- |
- |
|
|
|
|
|
|
Group and company
Bank borrowings
|
|
|
The NatWest loans are secured by a fixed and floating charge covering all property and undertaking of the group. There is also a Cross Company Guarantee in favour of Sidmouth Hotels Holdings Limited from Sidmouth Hotels Limited, a subsidiary, The Sidmouth Inn Limited and The Sidmouth Inn Holdings Limited, related parties. |
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
|
Pension and other schemes |
Defined contribution pension scheme
The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £
Contributions totalling £
|
Provisions for liabilities |
Group
|
Deferred tax |
Total |
|
|
At 1 February 2025 |
|
|
|
Increase (decrease) in existing provisions |
( |
( |
|
At 31 January 2026 |
|
|
|
|
||
|
Obligations under leases and hire purchase contracts |
Group
Finance leases
The total of future minimum lease payments is as follows:
|
2026 |
2025 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
- |
|
|
|
|
Operating leases
The total of future minimum lease payments is as follows:
|
2026 |
2025 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
|
Share capital |
Allotted, called up and fully paid shares
|
2026 |
2025 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
2 |
|
2 |
|
Reserves |
Group
Other reserve
This reserve arises where the consideration and nominal value of the shares issued during a business combination and the fair value of the assets differ.
|
Dividends |
|
2026 |
2025 |
|||
|
£ |
£ |
|||
|
Interim dividend of £ |
85,160 |
121,000 |
||
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
|
Analysis of changes in net debt |
Group
|
At 1 February 2025 |
Financing cash flows |
At 31 January 2026 |
|
|
Cash and cash equivalents |
|||
|
Cash |
229,060 |
33,925 |
262,985 |
|
Borrowings |
|||
|
Long term borrowings |
3,082,820 |
(159,987) |
2,922,833 |
|
Short term borrowings |
157,340 |
21,670 |
179,010 |
|
Lease liabilities |
20,998 |
(4,447) |
16,551 |
|
3,261,158 |
(142,764) |
3,118,394 |
|
|
|
|||
|
|
( |
|
|
Company
|
At 1 February 2025 |
Financing cash flows |
At 31 January 2026 |
|
|
Borrowings |
|||
|
Long term borrowings |
3,082,820 |
(159,987) |
2,922,833 |
|
Short term borrowings |
157,340 |
21,670 |
179,010 |
|
3,240,160 |
(138,317) |
3,101,843 |
|
|
|
( |
|
|
|
|
|||
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
|
Related party transactions |
Group
Key management compensation
|
2026 |
2025 |
|
|
Salaries and other short term employee benefits |
|
|
|
Transactions with the director |
|
2026 |
At 1 February 2025 |
Advances to director |
Repayments by director |
At 31 January 2026 |
|
Director 1, Interest free loan |
|
|
( |
|
|
2025 |
At 1 February 2024 |
Advances to director |
Repayments by director |
At 31 January 2025 |
|
Director 1, Interest free loan |
|
|
( |
|
Summary of transactions with other related parties
During the year the group extended a loan to The Sidmouth Inn Holdings Limited, a company under common control. Interest is charged on the loan in line with the bank loan interest incurred in the year. The loan is repayable on demand.
The Sidmouth Inn Limited
During the year, the group was in receipt of a loan from The Sidmouth Inn Limited, a company under common control. The loan is interest free and repayable on demand. The company also raised management charges to The Sidmouth Inn Limited.
Income and receivables from related parties
|
2026 |
Other related parties |
|
Receipt of services |
|
|
|
|
|
2025 |
Other related parties |
|
Receipt of services |
|
|
|
|
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
Loans to related parties
|
2026 |
Other related parties |
Total |
|
At start of period |
|
|
|
At end of period |
|
|
|
|
||
|
2025 |
Other related parties |
Total |
|
At start of period |
|
|
|
At end of period |
|
|
|
|
||
Loans from related parties
|
2026 |
Other related parties |
Total |
|
At start of period |
|
|
|
Advanced |
|
|
|
At end of period |
|
|
|
|
||
|
2025 |
Other related parties |
Total |
|
At start of period |
|
|
|
Advanced |
|
|
|
At end of period |
|
|
|
|
||
Sidmouth Hotels Holdings Limited
(Registration number: 10714110)
Notes to the Financial Statements for the Year Ended 31 January 2026
Company
Summary of transactions with other related parties
During the year the company extended a loan to The Sidmouth Inn Holdings Limited, a company under common control. Interest is charged on the loan in line with the bank loan interest incurred in the year. The loan is repayable on demand.
Loans to related parties
|
2026 |
Other related parties |
Total |
|
At start of period |
|
|
|
At end of period |
|
|
|
|
||
|
2025 |
Other related parties |
Total |
|
At start of period |
|
|
|
At end of period |
|
|
|
|
||
|
Parent and ultimate parent undertaking |
The ultimate controlling party is M Seward.
Subsequent to the year end the ultimate controlling party undertook a share for share exchange in creation of MS Holdings (Sidmouth) Limited, a new immediate parent company to Sidmouth Hotel Holdings Limited. The ultimate controlling party remains unchanged.