APEX HOTELS LIMITED

• ◆

  4 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

1. APEX HOTELS LIMITED 1997-08-05 → present
2. ARROW LEISURE LIMITED 1980-12-18 → 1997-08-05

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

Affirmed

“At the balance sheet date there are consolidated net current liabilities totalling £2.8m (2024: net current assets of £8.9m). Cash balances have fallen following the investment in Dunblane Hydro in the year from existing cash reserves. The Directors have prepared group cash flow forecasts, which include Apex Hotels Limited, which indicate that the group will have sufficient funds through its cash balances and secured bank facilities to meet its liabilities as they fall due in the going concern assessment period. Conservative assumptions have been built into the forecast in respect of occupancy levels and rates, with particular consideration given to the new properties in the portfolio recognising time will be required to embed these under the brand. As part of the Barclays debt financing agreement, covenant measures are in place. The group forecasts prepared show full compliance during the forecast period. Based on the above indications the Directors believe it remains appropriate to prepare the financial statements on the going concern basis. In making their assessment the Directors have considered a period of at least 12 months from the date of approval of these financial statements.”

Group structure

1. APEX HOTELS LIMITED · parent
   1. Apex Hotels (London 3) Limited 100% · Scotland · Hotel operation and management
   2. Apex Hotels (Developments) Limited 100% · Scotland · Hotel operation and management
   3. Pine Trees Pitlochry Limited 100% · Scotland · Dormant

Significant events

• “On 18th November 2024, Apex Hotels (Developments) Ltd, acquired The Vineyard Hotel, an award winning 5-star country house hotel and spa operating in West Berkshire.”
• “On 22nd November 2024, Apex Hotels Ltd acquired the DoubleTree by Hilton Dunblane Hydro, a 4-star hotel, operating in Central Scotland.”
• “The Group opted to refinance with Barclays Bank plc in July 2023, securing facilities for a five-year term comprising of a term loan of £47.9m and a £10m Revolving Credit Facility.”

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

Filings

13

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

4

last 12 months

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

• Turnover

  +20.9%

  £79,432,000 → £96,003,000

• Cash

  -54.3%

  £15,045,000 → £6,881,000

• Net assets

  +3.3%

  £105,691,000 → £109,226,000

• Employees

  +16.4%

  843 → 981

• Operating profit

  +4.4%

  £13,030,000 → £13,598,000

• Profit before tax

  -74%

  £28,420,000 → £7,402,000

• Wages

  +21.1%

  £27,209,000 → £32,945,000

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