BICESTER HOTEL LTD

	Page
Strategic Report	1—2
Directors' Report	3—4
Independent Auditor's Report	5—7
Statement of Comprehensive Income	8
Balance Sheet	9
Statement of Changes in Equity	10
Cash Flow Statement	11
Notes to the Cash Flow Statement	12
Notes to the Financial Statements	13—19

The directors present their strategic report for the year ended 31 October 2025.

Review of the Business

Sales income has continued to show upwards movement. The business has maintained its position as a leader in the local market in all sectors. A change in market segmentation for rooms has contributed to increased occupancy but reduced ARR. The Health and Fitness side of the business continues to thrive as revenues have increased significantly, more than compensating for shortfalls in rooms and Food & Beverage departments, the latter suffering from lower weddings and events numbers than seen historically. The golf operation continues to perform well as the new 9-Hole configuration has become more established and the Top Tracer driving range has continued to deliver increased revenues. Whilst sales performance has been good, there have been ongoing increases in the hotel’s cost base which have limited profit conversion.

The underlying operating profit of 574,711 for the year was a decrease over the previous year when adjusted for inter-company rentals and interest.

	2025	2024
	£	£

Profit / (Loss)before tax	(322,547)	(342,943)
Interest charged for the year	297,258	359,910
Inter-company rentals	600,000	600,000

574,711

616,967

The company employed four Directors during the year, two male and two female. At the year end, the senior management team was made up of two males and three females. The rest of the workforce was made up of sixty-eight female and fifty-six male employees.

The Directors have, throughout the year, considered both the short and long-term interests of the company, its employees, shareholders, customers and suppliers. They have endeavoured to maintain the highest standards of business conduct and have considered the interests of the local community and environment. Long term consequences of any decisions made are considered fully as and when applicable, along with immediate and short-term impact.

Position at year end

Net assets have decreased over the previous period end. Finance lease debt due after one year is falling as liabilities are repaid.

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BICESTER HOTEL LTD

Strategic Report (continued)

For The Year Ended 31 October 2025

Principal Risks and Uncertainties

The principal risks to the business are expected to be the economy, which continues to pose new challenges, local competition and employment. The energy market continues to to be an area of huge concern and inflated expenditure and the company is actively investigating ways to improve sustainability whilst improving our credentials as a green operator.

The local area enjoys a low unemployment rate which puts pressure on recruitment processes. The hospitality industry is known to have a national shortage of candidates so it was essential for the hotel to adopt a strategy to improve staff retention and reduce levels of recruitment. The team is regarded as a major asset to the business which is set to be protected through improved, ongoing trainng and develpment.

Demand locally remains high as Bicester continues to grow, with many more houses on the way, which will increase the use of the Gym,Spa and Restaurant. With increased local infratructure and attractions, such as redevelopment of Bicester Village and the proposed Puy du Fou Theme Park, which could lead to an increase in demand for hotel rooms.

Analysis using financial key performance indicators

Room occupancy for the year increased from 79.1% to 81.8% whilst average rate decreased from £132.61 to £122.36. As a result, RevPar decreased from £104.84 to £100.11 whilst TRevPar has increased, from £325.16 to £341.01.

Going concern

Related party debtors totalling £6,052,062 at the year-end were owed by entities reliant on profits from the hotel operation to repay those debts. Loans taken out during the Covid Pandemic continue to be repaid and whilst this exerts certain pressures on short-term cash flow which requires related party support, the longer-term prognosis remains strong, particularly as financial performance improves. A new loan was taken out in May 2026 with the intention to reduce interest payments and improve the going concern status.

On behalf of the board

Mr GJ Payne

Director

29/10/2026

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BICESTER HOTEL LTD

Company No. 05997594

Directors' Report For The Year Ended 31 October 2025

Directors' Report

The directors present their report and the financial statements for the year ended 31 October 2025.

Principal Activity

The principal activity of the company for the year ended 31 October was that of a hotel with leisure club and golf facilities.

Future Developments

The directors are committed to improving both the existing resort offering and levels of service and therefore customer satisfaction, whilst also developing the facilities for the company’s members and other guests. Planning consent is held for a further 10 bedrooms within the existing golf changing rooms and offices building, and also for an additional 60 bedrooms to the rear of the hotel. The new solar development, which was expected in 2025 has been postponed but expected to come before summer 2027, helping to reduce the carbon footprint whilst mitigating the future effect of volatility in the energy markets.

Dividends

No dividends will be distributed for the year ended 31 October 2025.

Directors

The directors shown below have held office during the whole of the period from 1 November 2024 to the date of this report.

Mr Graham Payne

Mrs Maggie Payne

Miss Emma Payne

Mr Matthew Payne

Going concern

The directors consider the company to be a going concern as detailed in the Strategic Report.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
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 enable them to ensure thatthe 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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date thedirectors report is approved:

so far as the directors are aware, there is no relevant audit information ( as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

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BICESTER HOTEL LTD

Directors' Report (continued)

For The Year Ended 31 October 2025

Independent Auditors

The auditors, Just Audit & Assurance Ltd (Statutory Auditor), will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board

Mr GJ Payne

Director

29/10/2026

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Independent Auditor's Report

to the Members of

BICESTER HOTEL LTD

Independent Auditor's Report

Opinion

We have audited the financial statements of BICESTER HOTEL LTD (the 'company') for the year ended 31 October 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies.

The financial reporting frmework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS102 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 company's affairs as at 31 October 2025 and of its loss 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'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 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 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.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's 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 responsiblity is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial ststements 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 requred 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.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

BICESTER HOTEL LTD

Matters on Which We Are Required to Report by Exception

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.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the dirctors'responsibilities statement set out on page 4, the directors are 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 directors determine 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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:

Our assessment focused on key laws an regulations the company has to comply with and areas of the financial statements we assessed as being more suscepticle to missstatement. These key laws and regulations included but were not limited to compliance with the Companies Act 2006, United Kingdom Generally Accepted Accounting Practice and relevant tax legislation.

We are not responsible for preventing irregularities. Our approach to detect irregularities included, but was not limited to, the following:

obtaining an understanding of the entity's policies and procedures and how the entity has complied with these, through discussions

obtaining an understanding of the legal and regulatory framework applicable to the entity and how the entity is complying with that framework

an understanding of the entity's risk assessment process, including the risk of fraud

designing our audit procedures to respond to our risk assessment

performng audit work over the risk of management override of controls including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing estimates for bias.

Whilst considering how our audit work addressed the detection of irregularities, we also consider the likelihood of detection based on our approach. Irregularities arising from fraud are inherently more difficult to detect than those arising from error.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to 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 occuring due to fraud rather than error, as fraud invoves 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 www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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Independent Auditor's Report (continued)

to the Members of

BICESTER HOTEL LTD

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 that 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.

Jonathan Russell (Senior Statutory Auditor)

for and on behalf of Just Audit & Assurance Ltd , Statutory Auditor

30/10/2026

Just Audit & Assurance Ltd

4 South Bar Street

Banbury

Oxfordshire

OX16 9AA

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BICESTER HOTEL LTD

Statement of Comprehensive Income

For The Year Ended 31 October 2025

Statement of Comprehensive Income

		2025	2024
	Notes	£	£
TURNOVER		6,479,514	6,154,768
Cost of sales		(3,258,147 )	(3,108,677 )

GROSS PROFIT		3,221,367	3,046,091

Administrative expenses		(3,156,924 )	(3,067,457 )
Other operating income		-	38,333

OPERATING PROFIT	4	64,443	16,967
Interest payable and similar charges	9	(386,990 )	(359,910 )

LOSS BEFORE TAXATION		(322,547 )	(342,943 )
Tax on Loss	10	15,640	7,189

LOSS AFTER TAXATION BEING LOSS FOR THE FINANCIAL YEAR		(306,907 )	(335,754 )
OTHER COMPREHENSIVE INCOME FOR THE YEAR		-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR		(306,907)	(335,754)

The notes on pages 12 to 19 form part of these financial statements.

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BICESTER HOTEL LTD

Balance Sheet

As At 31 October 2025

Balance Sheet

Registered number: 05997594

		2025		2024
	Notes	£	£	£	£
CURRENT ASSETS
Stocks	11	32,615		55,168
Debtors	12	8,141,114		7,488,026
Cash at bank and in hand		522		46,588

		8,174,251		7,589,782
Creditors: Amounts Falling Due Within One Year	13	(4,831,159 )		(3,301,184 )

NET CURRENT ASSETS (LIABILITIES)			3,343,092		4,288,598

TOTAL ASSETS LESS CURRENT LIABILITIES			3,343,092		4,288,598

Creditors: Amounts Falling Due After More Than One Year	14		(1,368,019 )		(2,007,648 )

PROVISIONS FOR LIABILITIES
Provisions For Charges	16		(1,135 )		(105 )

NET ASSETS			1,973,938		2,280,845

CAPITAL AND RESERVES
Called up share capital	17		3,000,000		3,000,000
Profit and Loss Account			(1,026,062 )		(719,155 )

SHAREHOLDERS' FUNDS			1,973,938		2,280,845

On behalf of the board

Mr GJ Payne

Director

29/10/2026

The notes on pages 12 to 19 form part of these financial statements.

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BICESTER HOTEL LTD

Statement of Changes in Equity

For The Year Ended 31 October 2025

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 November 2023	3,000,000	(383,401 )	2,616,599
Loss for the year and total comprehensive income	-	(335,754 )	(335,754)

As at 31 October 2024 and 1 November 2024	3,000,000	(719,155 )	2,280,845


Loss for the year and total comprehensive income	-	(306,907 )	(306,907)

As at 31 October 2025	3,000,000	(1,026,062 )	1,973,938

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BICESTER HOTEL LTD

Cash Flow Statement

For The Year Ended 31 October 2025

Cash Flow Statement

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	1,031,550	629,356
Interest paid		(386,990 )	(359,910 )
Tax paid		-	(22,949 )

Net cash generated from operating activities		644,560	246,497

Cash flows from financing activities
Proceeds from new bank borrowings		-	557,248
Repayment of bank borrowings		-	(688,038 )
Repayment of other loans		(864,639)	-
Repayment of finance leases		139,845	-
Amount introduced by directors		34,168	-
Amount withdrawn by directors		-	(129,565)

Net cash used in financing activities		(690,626 )	(260,355 )



Decrease in cash and cash equivalents		(46,066 )	(13,858 )
Cash and cash equivalents at beginning of year	2	46,588	60,446

Cash and cash equivalents at end of year	2	522	46,588

MAJOR NON-CASH TRANSACTIONS

During the year ended 31 October 2025 fixed assets were sold to the parent company totalling £104,690 (2024: £109,905) with proceeds paid through the intercompany loan account.

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BICESTER HOTEL LTD

Notes to the Cash Flow Statement

For The Year Ended 31 October 2025

Notes to the Cash Flow Statement

1. Reconciliation of loss for the financial year to cash generated from operations

	2025	2024
	£	£
Loss for the financial year	(306,907 )	(335,754 )
Adjustments for:
Tax on loss	(15,640 )	(7,189 )
Interest expense	297,258	359,910
Movements in working capital:
Decrease in stocks	22,553	2,407
(Increase)/decrease in trade and other debtors	(653,088 )	355,458
Increase in trade and other creditors	1,687,374	254,524

Net cash generated from operations	1,031,550	629,356

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	522	46,588

3. Analysis of changes in net debt

	As at 1 November 2024	Cash flows	As at 31 October 2025
	£	£	£
Cash at bank and in hand	46,588	(46,066)	522
Finance leases	(196,550)	(139,845)	(336,395)
Debts falling due within one year	(687,556 )	239,481	(448,075 )
Debts falling due after more than one year	(1,876,545)	625,158	(1,251,387)

	(2,714,063)	678,728	(2,035,335)

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BICESTER HOTEL LTD

Notes to the Financial Statements

For The Year Ended 31 October 2025

Notes to the Financial Statements

1. General Information

Bicester Hotel Ltd is a private company, limited by shares, incorporated in England. The registered number and registered office address can be found on the Company Information Page.

The presentation currency of the financial statements is the Pound sterling (£).

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Significant judgements and estimations

Estimates and judgements are based on historical experience and expectations of future events, and are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected. Critical areas of judgement and estimation are:

The company has tax losses brought forward from prior years in relation to trading and the revaluation of fixed assets and investments. Deferred tax assets have been included in the financial statements on the basis that future profits and gains will be made and the trading tax losses will be utilised to reduce tax payable in future years, and that the value of fixed assets and investments will increase to at least their original cost value.

2.4. Turnover

Turnover represents members' club subscriptions receivable, hotel room sales and other golfing and anciliary income receivable from members and visitors, which is recognised on provision of services. Members' joining fees are recognised on receipt, and ongoing membership fees in advance are recognised in the period to which they relate.

2.5. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts or fnance leases are capitalised in the balance sheet and susequently sold onto the parent cpmpany at cost without being depreciated.

The interest element of these obligations is charged to profit and loss over the relevant period using the sum of digits method. The capitalelement of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit or loss on a straightline basis over the period of the lease.

2.6. Stocks and Work in Progress

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

2.7. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

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BICESTER HOTEL LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

2.8. Financial Instruments

The company only has financial assets and liabilities of a kind that qualify as basic financial instrumnts, which are initially recognised at transaction value and subsequently measured at their settlement value.

Debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and susequently less any impairment losses for bad and doubtful debts.

Crreditors are measured at transaction price (which is usualy the invoice price) less any impairment losses for bad and doubtful debts.Loans and other financial liabilities are initially recognised at transaction price including any transaction costs and susequently less any impairments losses for bad and doubtful debts.

2.9. Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

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.

2.10. Pensions

The company makes payments to defined contribution pensions schemes on behalf of employees. payments made to the schemes are charged against profits in the accounting period.

3. Other Operating Income

	2025	2024
	£	£
Rental income	-	38,333

	-	38,333

4. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Bad debts	-	2,000
Operating lease rentals	600,000	600,000

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BICESTER HOTEL LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

5. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	8,650	8,650

6. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024
	£	£
Wages and salaries	2,616,136	2,621,072
Social security costs	248,419	215,201
Other pension costs	39,107	35,192

	2,903,662	2,871,465

7. Average Number of Employees

The average number of employees during the year was as follows:

	2025	2024
Office and administration	9	12
Hotel	35	34
Food and Beverage	50	54
Health and Spa	26	27
Golf	4	5
Maintenance	10	11

	134	143

8. Directors' remuneration

	2025	2024
	£	£
Emoluments	25,500	25,500
Company contributions to money purchase pension schemes	578	578

	26,078	26,078

Amounts paid to third parties in respect of directors' services 2025 £Nil (2024: £21,000)

The only key management are the directors of the company.

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BICESTER HOTEL LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

9. Interest Payable and Similar Charges

	2025	2024
	£	£
Interest payable on other loans	6,855	4,720
Finance charges payable under finance leases and hire purchase contracts	290,403	355,190
Late payment tax charges and other penalties	89,732	-

	386,990	359,910

10. Tax on Profit

The tax credit on the for the year was as follows:

	Tax Rate		2025	2024
	2025	2024	£	£
Current tax
UK Corporation Tax	19.0%	19.0%	-	43,728
Prior period adjustment			(43,728 )	-

			(43,728 )	43,728
Deferred Tax
Deferred taxation			28,088	(50,917 )


Total tax charge for the period			(15,640 )	(7,189 )

The actual credit for the year can be reconciled to the expected credit for the year based on the loss and the standard rate of corporation tax as follows:

	2025	2024
	£	£
Profit before tax	(322,547)	(342,943)

Tax on profit at 19% (UK standard rate)	(61,153 )	(65,159 )
Expenses not deductible for tax purposes	89,732	43,728
Tax losses utilised	27,597	65,159
Capital allowances	(28,088 )	(50,917 )
Prior period adjustment	(43,728 )	-

Total tax charge for the period	(15,640)	(7,189)

11. Stocks

	2025	2024
	£	£
Stock	32,615	55,168

Stock was titled goods for resale

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BICESTER HOTEL LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

12. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	140,573	74,847
Prepayments and accrued income	141,420	80,675
Other debtors	1,581,120	2,730,502
Directors' loan accounts	157,735	191,903
Amounts owed by group undertakings	6,052,062	4,313,807

	8,072,910	7,391,734
Due after more than one year
Deferred tax current asset	68,204	96,292

	8,141,114	7,488,026

Debtors: Amounts Falling Due Within One Year contd.

Trade debtors include £Nil (2024: £Nil) owed by related parties.

Other debtors include £1,579,181 ( 2024: £2,729,115) owed by related parties.

The recoverability of deferred tax depends on future profits of the company and the directors expect most of the recorded asset to be received after one year.

13. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	219,763	65,447
Trade creditors	575,342	501,187
Other loans	448,075	687,556
Corporation tax	-	43,728
Other taxes and social security	204,796	47,446
VAT	410,592	838,424
Other creditors	2,440,868	444,552
Accruals and deferred income	531,723	672,844

	4,831,159	3,301,184

Trade creditors due within one year includes £23,432 (2024: 20,932) owed to related parties.

14. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	116,632	131,103
Other loans	1,251,387	1,876,545

	1,368,019	2,007,648

Interest is payable on loans falling due within one year and after more than one year totalling £350,559 (2024: 355,190).

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BICESTER HOTEL LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

15. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	219,763	65,447
Later than one year and not later than five years	116,632	131,103

	336,395	196,550

	336,395	196,550

	Non-Cancellable operating leases
	2025	2024
	£	£
Within 1 year	600,000	600,000
Between one and five years	2,400,000	2,400,000
In more than five years	3,544,716	4,144,716

	6,544,716	7,144,716

Operating lease commitments relate to a 25 year lease at £600,000 per annum from the parent company, which commenced on 28 September 2017 for the hotel premises, including all alterations, equipment and fixtures other than the company's trade fixtures.

SECURED DEBTS

The following secured debts are included within creditors:

	2025	2024
	£	£
Finance leases	336,395	196,550

Finance leases relate to specified equipment which was purchased by the company and subsequently sold to its parent company.

Other creditors are secured on assets which were purchased by the company and subsequently sold to its parent company.

16. Provisions for Liabilities


	Bad debt provision	Deferred Tax	Other Provisions	Total
	£	£	£	£
As at 1 November 2024	105	(96,292 )	-	(96,187)
Additions	-	28,088	1,030	29,118

Balance at 31 October 2025	105	(68,204 )	1,030	(67,069)

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BICESTER HOTEL LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

17. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
3,000,000 Ordinary Shares of £ 1.00 each	3,000,000	3,000,000

18. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £39,107 (2024: £35,192).

At the balance sheet date contributions of £26,913 (2024: £18,281) were due to the fund and are included in creditors.

19. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 November 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 October 2025
	£	£	£	£	£
Mr Graham Payne	191,903	-	34,168	-	157,735
Miss Emma Payne	(2,500 )	19,400	(19,000 )	-	(2,100 )

The above loan is unsecured, interest free and repayable on demand.

20. Related Party Disclosures

Reliance on parent company

At 31 October 2025 Bicester Hotel ltd had commitments to Investfront (Oxon) Ltd under operating leases for the premises from which it operates totalling £6,544,716 (2024: £7,144,716) over 25 years after the lease was signed in September 2017. Therefore leaving 16 years on the lease.

At 31 October 2025 Bicester Hotel Ltd had commitments under finance leases secured on assets owned by Investfront (Oxon) Ltd totalling £131,120( 2024: £196,591) over the next five years.

At 31 October 2025 Investfront (Oxon) Ltd had an unsecured interest free loan totalling £5,991,158 (2024: £4,244,987) from Bicester Hotel Ltd.

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