Hydro Hotel Eastbourne Plc - Interim Results for the Half Year ended 30 April 2024

17 July 2024 Hydro Hotel, Eastbourne, Plc ("Hydro Hotel" or the "Company") Interim Results for the Half Year ended 30 April 2024 YOUR CHAIRMAN'S LETTER Dear Shareholder, SIX MONTHS TO 30 APRIL 2024 I am pleased to report on the company's results for the six months to 30 April 2024. The total turnover for the six month period to 30 April 2024 was £1,961,479 compared to £1,799,816 for the same period in the previous year, an increase of 9% (compared to a decrease in the six months to 30 April 2023 of 1%). The gross profit for the period was 10% higher than in the six months to 30 April 2023 and staff costs increased by 6% compared to the figure for the period to 30 April 2023 (3% increase in the half year to 30 April 2023). Overheads increased by 1% (17% increase in the half year ended 30 April 2023). There were increases in utility costs and a significant decrease in repair costs for this period compared to the same period in the previous year, contributing to a reduced loss for the half year to 30 April 2024 of £76,957 compared to a loss of £171,469 for the half year to 30 April 2023. An updating of the air conditioning and replacement of furniture in the conservatory was undertaken in the period, together with the continued general refurbishment of some bedrooms and public areas and the purchase of new garden furniture. The Board and the management of the company continue to monitor cash resources and have paid the dividend of £72,000 declared on 20 February 2024. No further dividends were declared in the period. The Board wishes to express its thanks to the management and staff of the hotel for their co-operation and efforts during the period. The Hydro team look forward to welcoming new and returning guests in this our 129th year of operation. Yours sincerely, Christopher J Bean  LL.B (Hons) 16 July 2024 SUMMARISED STATEMENT OF COMPREHENSIVE INCOME FOR THE HALF YEAR ENDED 30 APRIL 2024 Half year to Half year to Year ended 30 April 2024 30 April 2023 31 October 2023 (Unaudited) (Unaudited) (Audited) £ £ £ TURNOVER 1,961,479 1,799,816 4,432,917 OPERATING (LOSS)/PROFIT (111,562) (192,313) 259,602 INTEREST RECEIVABLE 34,605 20,844 50,805 (LOSS)/PROFIT BEFORE TAXATION (76,957) (171,469) 310,407 TAXATION - - (74,462) (LOSS)/PROFIT FOR PERIOD £(76,957) £(171,469) £235,945 (Loss)/Earnings per share (12.83)p (28.58)p 39.32p STATEMENT OF FINANCIAL POSITION AT 30 APRIL 2024 30 April 2024 30 April 2023 31 October 2023 (Unaudited) (Unaudited) (Audited) £ £ £ FIXED ASSETS Tangible Assets 2,550,478 2,565,055 2,525,316 CURRENT ASSETS Stocks 41,284 40,321 40,028 Debtors 130,626 156,803 189,158 Investments - 3 month 476,373 459,798 465,980 notice deposit account Cash at bank and in 1,352,585 1,146,320 1,626,588 hand 2,000,868 1,803,242 2,321,754 CREDITORS Amounts falling due (732,858) (761,721) (879,625) within one year NET CURRENT ASSETS 1,268,010 1,041,521 1,442,129 TOTAL ASSETS LESS CURRENT LIABILITIES 3,818,488 3,606,576 3,967,445 PROVISION FOR (148,564) (123,109) (148,564) LIABILITIES NET ASSETS £3,669,924 £3,483,467 £3,818,881 CAPITAL AND RESERVES Called up share 600,000 600,000 600,000 capital Revaluation reserve 394,093 398,372 394,093 Profit and loss 2,675,831 2,485,095 2,824,788 reserves £3,669,924 £3,483,467 £3,818,881 STATEMENT OF CASH FLOWS FOR THE HALF YEAR ENDED 30 APRIL 2024 Half year to    Half year to Year ended 30 April 2024 30 April 2023 31 October 2023 (Unaudited) (Unaudited) (Audited) £ £ £ NET CASH (USED (107,376) (133,517) 485,680 IN)/INFLOW FROM OPERATING ACTIVITIES (Note 1) NET CASH (USED IN)   (94,627) (167,810) (234,739) INVESTING ACTIVITIES (Note 2) FINANCING ACTIVITIES Dividends paid (72,000) (138,000) (210,000) NET (DECREASE)/INCREASE IN CASH (274,003) (439,327) 40,941 AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT THE 1,626,588 1,585,647 1,585,647 BEGINNING OF THE PERIOD CASH AND CASH EQUIVALENTS AT THE £1,352,585 £1,146,320 £1,626,588 END OF THE PERIOD RELATING TO: Cash at bank and in hand £1,352,585 £1,146,320 £1,626,588 NOTES TO THE STATEMENT OF CASH FLOWS FOR THE HALF YEAR ENDED 30 APRIL 2024 Half year Half Year to year ended to 30 April 30 31 2024 April October 2023 2023 (Unaudited) (Unaudited) (Audited) £ £ £ Note 1 CASH FLOWS FROM OPERATING ACTIVITIES (Loss)/profit after tax (76,957) (171,469) 235,945 Adjustments for: Taxation - - 74,462 Depreciation 93,545 95,450 200,534 Loss on disposal of fixed 132 3,625 4,338 assets Interest receivable (34,605) (20,844) (50,805) OPERATING CASH FLOW BEFORE (17,885) (93,238) 464,474 WORKING CAPITAL CHANGES MOVEMENTS IN WORKING CAPITAL (Increase) in stocks (1,256) (3,676) (3,383) Decrease in debtors 58,532 57,328 24,973 (Decrease)/increase in (146,767) (93,931) 79,677 creditors Income taxes paid - - (80,061) NET CASH (USED £(107,376) £(133,517) £485,680 IN)/GENERATED FROM OPERATING ACTIVITIES Note 2 INVESTING ACTIVITIES Purchase of tangible fixed (118,839) (182,780) assets (273,488) Interest received 34,605 20,844 50,805 Payment for other (10,393) (5,874) (12,056) investments NET CASH FLOW (USED IN) £(94,627) £(167,810)   £(234,739 INVESTING ACTIVITIES ) NOTES TO THE ACCOUNTS 1The results are prepared on the basis of the accounting policies set out in the Company's Annual Report and Accounts for the year ended 31 October 2023. 2The earnings per share are based on a loss of £76,957 (2023 loss of £171,469) being the loss on ordinary activities after taxation. 3The movement in retained Profit and Loss Reserves from £2,824,788 at 31 October 2023 to £2,675,831 at 30 April 2024 includes the loss for the period of £76,957 and dividends paid of £72,000 (2023: £138,000 paid in the period and £Nil accrued). 4Dividends of £72,000 in 2024 were all paid in the period and no accrual is included in creditors, amounts falling due within one year as at 30 April 2024 (2023: £138,000 dividends paid and no accrual included in creditors, amounts falling due within one year as at 30 April 2023). 5A copy of the interim report and accounts and the Chairman's statement thereto, which were approved by the Board of Directors on 16 July 2024, will be posted to all registered shareholders shortly thereafter. 6The financial information set out above does not constitute statutory accounts as defined in section 434 of the Companies Act 2006.  Statutory accounts for the year ended 31 October 2023, on which the report of the auditor was unqualified and did not contain a statement under section 498 of the Companies Act 2006, have been filed with the Registrar of Companies. 7The company's auditor, UHY Hacker Young LLP, has not reviewed these unaudited interim accounts. Enquiries: Hydro Hotel, Eastbourne, Plc Telephone: +44 1323 431 200 Sally Gausden Company Secretary Peterhouse Capital Limited Telephone: +44 20 7469 0930 Aquis Corporate Adviser Mark Anwyl Market Abuse Regulation (MAR) Disclosure This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as defined in the European Union (Withdrawal) Act 2018). This information was brought to you by Cision http://news.cision.com https://news.cision.com/hydro-hotel-eastbourne-plc/r/interim-results-for-the-half-year-ended-30-april-2024,c4015911

Hydro Hotel Eastbourne Plc