Town & Country Hotels Limited

Audited Financial Statements for the Year Ended 31 March 2025

DIRECTORS:

J Q Hitchcock

F Q T Hitchcock

REGISTERED OFFICE:

Bear Hotel

High Street

Cowbridge

CF71 7AF

REGISTERED NUMBER:

03390385 (England and Wales)

SENIOR STATUTORY
AUDITOR:

Nicholas Matthew Toye, FCA

AUDITORS:

BPU Limited

Chartered Accountants

Statutory Auditor

Radnor House

Greenwood Close

Cardiff Gate Business Park

Cardiff

CF23 8AA

FIXED ASSETS

Tangible assets

3

3,318,025

3,330,564

CURRENT ASSETS

Stocks

27,419

24,087

Debtors

4

877,997

544,203

Cash in hand

31,289

20,160

936,705

588,450

CREDITORS

Amounts falling due within one year

5

635,018

557,502

NET CURRENT ASSETS

301,687

30,948

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,619,712

3,361,512

CREDITORS

Amounts falling due after more than
one year

6

(1,224,459

)

(1,018,419

)

PROVISIONS FOR LIABILITIES

(130,000

)

(131,000

)

NET ASSETS

2,265,253

2,212,093

CAPITAL AND RESERVES

Called up share capital

75

Revaluation reserve

7

1,379,332

1,426,888

Capital redemption reserve

25

Retained earnings

885,821

785,105

2,265,253

2,212,093

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2025 and were signed on its behalf by:

F Q T Hitchcock - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

Straight line over 4 years

Fixtures and fittings

-

straight line over 7 years

Motor vehicles

-

Straight line over 4 years

Computer equipment

-

Straight line over 4 years

The freehold property is being depreciated over its estimated useful life of 50 years. The depreciation charge is based on the total value of the property.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 56 (2024 - 45 ) .

3.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

COST OR VALUATION

At 1 April 2024

3,200,000

311,417

143,327

Additions

30,605

64,347

-

Revaluations

(63,556

)

-

At 31 March 2025

3,167,049

375,764

143,327

DEPRECIATION

At 1 April 2024

-

275,158

94,739

Charge for year

15,682

19,637

8,183

At 31 March 2025

15,682

294,795

102,922

NET BOOK VALUE

At 31 March 2025

3,151,367

80,969

40,405

At 31 March 2024

3,200,000

36,259

48,588

Motor

Computer

vehicles

equipment

Totals

£

COST OR VALUATION

At 1 April 2024

50,088

39,504

3,744,336

Additions

1,000

-

95,952

Revaluations

-

(63,556

)

At 31 March 2025

51,088

39,504

3,776,732

DEPRECIATION

At 1 April 2024

8,620

35,255

413,772

Charge for year

-

1,433

44,935

At 31 March 2025

8,620

36,688

458,707

NET BOOK VALUE

At 31 March 2025

42,468

2,816

3,318,025

At 31 March 2024

41,468

4,249

3,330,564

Cost or valuation at 31 March 2025 is represented by:

Freehold
property

Plant and
machinery

Fixtures and
fittings

£

Revaluation in 2020

1,867,888

-

Revaluation in 2024

(300,000

)

-

Revaluation in 2025

(63,556

)

-

Cost

1,662,717

375,764

143,327

3,167,049

375,764

143,327

Motor
vehicles

Computer
equipment

Totals

£

Revaluation in 2020

-

1,867,888

Revaluation in 2024

-

(300,000

)

Revaluation in 2025

-

(63,556

)

Cost

51,088

39,504

2,272,400

51,088

39,504

3,776,732

The freehold properties were revalued on an open market basis by Colliers International Property Consultants Limited on 5th December 2024. The properties have been reassessed by the directors, with the assistance of professional property advisors, on an open market basis at 31st March 2025 and they believe there has not been a material change in value.

4.

DEBTORS

2025

2024

£

Amounts falling due within one year:

Trade debtors

1,762

15,697

Other debtors & prepayments

1,640

54,094

3,402

69,791

Amounts falling due after more than one year:

Amounts owed by group undertakings

874,595

474,412

Aggregate amounts

877,997

544,203

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

53,954

100,195

Taxes & social security costs

123,834

63,144

Other creditors & accruals

457,230

394,163

635,018

557,502

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

2025

2024

£

Amounts owed to group undertakings

1,178,959

928,959

Other creditors

45,500

89,460

1,224,459

1,018,419

7.

RESERVES

Revaluation

reserve

£

At 1 April 2024

1,426,888

Revaluation

(47,556

)

At 31 March 2025

1,379,332

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nicholas Matthew Toye, FCA (Senior Statutory Auditor)

for and on behalf of BPU Limited

9.	CONTINGENT LIABILITIES

There is an unlimited multilateral guarantee in respect of bank borrowings in place between Town & Country Collective Limited, Town & Country Hotels Limited, Hurryflow Limited & Eventdetail Limited. The total of bank borrowings amounted to £6,228,538.

10.	ULTIMATE PARENT UNDERTAKING

The company's ultimate parent undertaking at the balance sheet date was Town & Country Collective Limited, a company incorporated in England & Wales with its registered office at The Bear Hotel, 63 High Street, Cowbridge, Vale of Glamorgan, United Kingdom, CF71 7AF.