CENTRE ISLAND HOTELS LIMITED

• ⚠

  Material uncertainty over going concern

  However, the circumstances outlined above in relation to the absence of a formal waiver being issued by the bank for the forecast covenant breaches, mean there remains a material uncertainty in making these assessments, which may cast significant doubt on the group's ability to continue as a going concern.

1. CENTRE ISLAND HOTELS LIMITED 2001-11-28 → present
2. TARGETFORM LIMITED 1998-09-22 → 2001-11-28

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

RSM UK Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“However, the circumstances outlined above in relation to the absence of a formal waiver being issued by the bank for the forecast covenant breaches, mean there remains a material uncertainty in making these assessments, which may cast significant doubt on the group's ability to continue as a going concern.”

Group structure

1. CENTRE ISLAND HOTELS LIMITED · parent
   1. Centre Island Albert Dock Limited 100% · UK · Dormant
   2. Centre Island Birmingham Limited 100% · UK · Owning and operating a hotel
   3. Centre Island Development Company Limited 100% · UK · Owning and operating a hotel
   4. Centre Island Development Company (1997) Limited 100% · UK · Owning and operating a hotel
   5. Centre Island Management Limited 100% · UK · Provision of hotel management services
   6. Centre Island Preston Limited 100% · UK · Owning and operating a hotel
   7. H. I. Lime Street Limited 100% · UK · Owning and operating a hotel
   8. Centre Island Ropewalks Limited 100% · UK · Dormant
   9. Gainsburgh Limited 100% · UK · Dormant
   10. Horizon Express Hotels Limited 100% · UK · Dormant
   11. Horizon Hotels (UK) Limited 100% · UK · Dormant
   12. Swanfield Holdings Limited 100% · UK · Dormant

Significant events

• “The Centre Island Group 2024 trading result was impacted by the planned refurbishment of the Group's largest asset the 312-bedroom Crowne Plaza Birmingham City Centre during 2024.”
• “During the year, on 3 May 2024, a groupwide facility was entered into, the total facility for the group was for £36m, over a 5-year term, with final repayment date of 3 May 2029.”
• “Also, in the year the subsidiary Centre Island Birmingham Limited issued Preference shares to the value of £4.5m to Surfreset Limited (a related party by virtue of common directors and owners) and also agreed a loan with the ultimate parent company to the value of £1.5m repayable on the 31st December 2029.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

7

last 12 months

Capital events

1

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -0.3%

  £36,963,990 → £36,845,826

• Cash

  -6.1%

  £3,836,973 → £3,604,551

• Net assets

  -5.1%

  £20,236,558 → £19,209,247

• Employees

  +3.2%

  469 → 484

• Operating profit

  -32.3%

  £4,893,925 → £3,311,411

• Profit before tax

  -79.2%

  £1,994,930 → £413,996

• Wages

  +5.3%

  £10,423,274 → £10,979,013

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers