That Torquay H2 Limited - Accounts to registrar (filleted) - small 18.2

That Torquay H2 Limited - Accounts to registrar (filleted) - small 18.2

THAT TORQUAY H2 LIMITED - Company Information

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REGISTERED NUMBER: 10650521 (England and Wales)















THAT TORQUAY H2 LIMITED

Unaudited Financial Statements

for the Year Ended 31 December 2021






THAT TORQUAY H2 LIMITED (REGISTERED NUMBER: 10650521)

Contents of the Financial Statements
for the year ended 31 December 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THAT TORQUAY H2 LIMITED

Company Information
for the year ended 31 December 2021







Directors: S A Brown
R S Kelvin CBE
P S Tisdale





Registered office: F4 Beehive Yard
Bath
Somerset
BA1 5BT





Registered number: 10650521 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
250 Fowler Avenue
Farnborough
Hampshire
GU14 7JP
Page 1
THAT TORQUAY H2 LIMITED (REGISTERED NUMBER: 10650521)

Balance Sheet
31 December 2021

2021 2020
Notes £ £ £ £
Fixed assets
Investments 4 300 300

Current assets
Debtors 5 11,231,592 10,360,641
Cash at bank 775,890 -
12,007,482 10,360,641
Creditors
Amounts falling due within one year 6 106,029 5,050
Net current assets 11,901,453 10,355,591
Total assets less current liabilities 11,901,753 10,355,891

Creditors
Amounts falling due after more than one
year
7
11,912,923
10,363,436
Net liabilities (11,170 ) (7,545 )

Capital and reserves
Called up share capital 8 100 100
Retained earnings (11,270 ) (7,645 )
Shareholders' funds (11,170 ) (7,545 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2022 and were signed on its behalf by:





S A Brown - Director


The notes form part of these financial statements

Page 2
THAT TORQUAY H2 LIMITED (REGISTERED NUMBER: 10650521)

Notes to the Financial Statements
for the year ended 31 December 2021


1. Statutory information

That Torquay H2 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and the ultimate controlling party will give continued support. Hence, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets
Basic financial assets, which include debtors, amounts owed by connected companies and cash and bank balances, are initially measured at transaction price including transaction costs . Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors , loans from connected companies, are initially recognised at transaction price . Financial liabilities classified as payable within one year are not amortised.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Page 3
THAT TORQUAY H2 LIMITED (REGISTERED NUMBER: 10650521)

Notes to the Financial Statements - continued
for the year ended 31 December 2021


2. Accounting policies - continued

Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The position and results of the company are incorporated in the consolidated financial statements of the intermediate parent company That Torquay Company Limited. The consolidated financial statements can be found at F4 Beehive Yard, Bath, England, BA1 5BT.

Turnover and other revenue
Turnover comprises recharges and interest disbursements which are recognised by the company in respect of loan arrangement services supplied during the year. Revenue from recharges is recognised when the facility is made available.

3. Employees and directors

The average number of employees during the year was 3 (2020 - 3 ) .

4. Fixed asset investments

2021 2020
£    £   

Shares in group undertakings and participating interests 300 300


Details of the company's subsidiaries at 31 December 2021 are as follows:

Name of undertaking Address Class of shares held % Held
Direct
That Torquay Ground Floor Limited 1 Ordinary 100.00
That Torquay Hotel Limited 1 Ordinary 100.00
That Torquay Offices Limited 1 Ordinary 100.00

Registered office addresses (all UK unless otherwise indicated).
1. F4 Beehive Yard, Bath, England, BA1 5BT

5. Debtors: amounts falling due within one year
2021 2020
£ £
Amounts owed by group undertakings 11,231,300 10,360,273
Other debtors 292 368
11,231,592 10,360,641

6. Creditors: amounts falling due within one year
2021 2020
£ £
Bank loans and overdrafts 54,286 -
Trade creditors 2,910 2,208
Amounts owed to group undertakings 46,290 300
Other creditors 2,543 2,542
106,029 5,050

Included in creditors due in less than one year are loans of £54,286 (2020 - £nil) which are secured over the company and groups assets.

Page 4
THAT TORQUAY H2 LIMITED (REGISTERED NUMBER: 10650521)

Notes to the Financial Statements - continued
for the year ended 31 December 2021


7. Creditors: amounts falling due after more than one year
2021 2020
£ £
Bank loans 11,782,143 10,182,656
Other creditors 130,780 180,780
11,912,923 10,363,436

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 9,678,810 -

Included in creditors due in more than one year are loans of £11,782,143 (2020 - £10,182,656) which are secured over the company and groups assets.

8. Called up share capital


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £ £
100 Ordinary £1 100 100

9. Financial commitments, guarantees and contingent liabilities

The Royal Bank of Scotland PLC and Torbay Council have fixed and floating charges over the company's assets.

10. Related party transactions

The company has taken advantage of the exemption available in FRS102 from the requirement to disclose transactions with group companies.

Included in creditors due after more than one year, is an amount of £130,780 (2020 - £180,780) owed to a director.

11. Parent company

The immediate parent company is That Torquay H1 Limited and the ultimate parent company is That Holdco Limited, both of which are incorporated in England and Wales.

Page 5