Company No: SC363380 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2023		2022
		£		£
Fixed assets
Investments	3	47,800		47,800
		47,800		47,800
Net current assets		0		0
Total assets less current liabilities		47,800		47,800
Net assets		47,800		47,800
Capital and reserves
Called-up share capital	4	47,800		47,800
Total shareholders' funds		47,800		47,800

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Priory Hotels Holding Limited (registered number: SC363380) were approved and authorised for issue by the Director on 30 April 2024. They were signed on its behalf by:

Kenneth Hutton Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Priory Hotels Holding Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Priory Hotel, The Square, Beauly, IV4 7BX, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Merger relief

Investments in subsidiaries that are acquired as part of a restructuring arrangement meeting the merger relief criteria of section 612 of Companies Act 2006, are recorded in accordance with the nominal value of shares issued as part of the acquisition arrangement. The shares issued are recorded at a corresponding equivalent nominal value with no premium recognised for the difference between fair value and nominal value.

Fixed asset investments

Fixed asset investments are stated at cost less provision for diminution in value.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

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.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in the profit and loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

2. Employees

	2023		2022
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	2		2

3. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 November 2022	47,800		47,800
At 31 October 2023	47,800		47,800
Carrying value at 31 October 2023	47,800		47,800
Carrying value at 31 October 2022	47,800		47,800

4. Called-up share capital

	2023		2022
	£		£
Allotted, called-up and fully-paid
47,800 Ordinary shares of £ 1.00 each	47,800		47,800