PRELIMINARY ANNOUNCEMENT OF THE FINAL RESULTS FOR THE YEAR ENDED
HIGHLIGHTS
The profit for the financial year after taxation was
The Company generated cash from operating activities of
CHAIRMAN’S STATEMENT
Results for year ended
I am pleased to report on the company’s results for the year ended
The trading environment for the company continued to be challenging. Careful monitoring of food and drink costs meant that the gross profit percentage remained similar to the previous year but increased staffing costs affected profitability. Repair costs decreased with no significant work required to the fabric of the building in the year.
Capital improvements at the hotel during the year included the replacement of the fire alarm system, refurbishment of 12 bedrooms and
Developments since
New marketing techniques will continue to be developed during the year to encourage direct bookings at the hotel. The Board has been pleased to note that the new online booking system on the company’s website, introduced in
Updating of the décor and furniture of the conservatory has been undertaken and, subject to planning permission, a bar will be installed in the
Our Staff
I would like to congratulate our General Manager,
I wish also to record our thanks to our management team and all our staff for their dedication to the hotel. All staff continued to deliver the Hydro’s renowned quality of service which our customers value so much.
Graeme C King, MA, CA
Chairman of the Board
STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED31 OCTOBER 2019 2019 2018 GBP GBP Turnover Continuing operations 3,733,698 3,658,461 Cost of sales (3,231,920) (3,244,833) Gross profit 501,778 413,628 Administrative expenses (229,969) (228,493) Operating profit 271,809 185,135 Interest receivable and similar income 10,265 8,190 Profit before taxation 282,074 193,325 Taxation (57,558) (40,065) Profit for the financial yearGBP 224,516 GBP 153,260 Earnings per share - continuing operations 37.42p 25.54p
Earnings per share have been calculated using 600,000 shares, being the weighted average number of shares for both years. The company has no potential ordinary shares, therefore basic and diluted earnings per share is the same figure.
STATEMENT OF FINANCIAL POSITION AS AT31 OCTOBER 2019 2019 2018 GBP GBP Fixed assets Tangible Assets 2,759,650 2,620,992 Current assets Stocks 37,123 30,438 Debtors 129,098 150,087 Investments 200,000 200,000 Cash at bank and in hand 1,107,586 1,089,507 1,473,807 1,470,032 Creditors: Amounts falling due within one year (621,780) (611,500) Net current assets 852,027 858,532
Total assets less current liabilities 3,611,677 3,479,524 Provisions for liabilities (120,812) (87,175) Net assetsGBP 3,490,865 GBP 3,392,349 Capital and reserves Ordinary Shares - Authorised and Issued: 600,000 Shares of GPB1.00 each fully paid 600,000 600,000 Revaluation reserve 411,209 415,488 Profit and loss reserves 2,479,656 2,376,861 Total equityGBP 3,490,865 GBP 3,392,349
STATUS OF FINANCIAL INFORMATION
The financial information set out above does not constitute statutory accounts as defined in section 434 of the Companies Act 2006. This has, however, been extracted from the statutory accounts for the year ended
DIVIDEND ANNOUNCEMENT
An interim dividend of
The Board have declared a second interim dividend for the year ended
The Directors of
For further information please contact:
Telephone: (+44) (0) 1323 431200
Telephone: (+44) (0) 20 7469 0930
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a
