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REGISTERED NUMBER: 09991004 (England and Wales)

















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MARYLEBONE FINCO LIMITED

MARYLEBONE FINCO LIMITED (REGISTERED NUMBER: 09991004)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MARYLEBONE FINCO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: U Vyas
R R Sachdev



REGISTERED OFFICE: Regent House Allum Gate,
Theobald Street
Elstree
Borehamwood
Hertfordshire
WD6 4RS



REGISTERED NUMBER: 09991004 (England and Wales)



SENIOR STATUTORY AUDITOR: Bharat Vanza BSc (Hons) FCA FCCA



AUDITORS: STGCA LLP t/a Sterling
Chartered Accountants
& Statutory Auditors
505 Pinner Road
Harrow
Middlesex
HA2 6EH

MARYLEBONE FINCO LIMITED (REGISTERED NUMBER: 09991004)

BALANCE SHEET
31 MARCH 2024

2024 2023
as restated
Notes £'000 £'000
CURRENT ASSETS
Debtors 5 60,403 52,523

CREDITORS
Amounts falling due within one year 6 81,825 866
NET CURRENT (LIABILITIES)/ASSETS (21,422 ) 51,657
TOTAL ASSETS LESS CURRENT
LIABILITIES

(21,422

)

51,657

CREDITORS
Amounts falling due after more than one
year

7

-

70,267
NET LIABILITIES (21,422 ) (18,610 )

CAPITAL AND RESERVES
Called up share capital 9 - -
Retained earnings (21,422 ) (18,610 )
SHAREHOLDERS' FUNDS (21,422 ) (18,610 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 June 2025 and were signed on its behalf by:




U Vyas - Director



R R Sachdev - Director


MARYLEBONE FINCO LIMITED (REGISTERED NUMBER: 09991004)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Marylebone Finco Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The directors have adopted the going concern basis in preparing these financial statements, notwithstanding net current liabilities of £21.4m. This assessment takes into account the successful refinancing arrangements, including £157.7m from Alverstone European Opportunities Designated Activity Company and have a revised maturity of 36 months from the respective dates of first utilisation.

Taxation
Taxation for the year comprises current and deferred trecognized recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Interest receivable
Interest receivable is recognised in the profit and loss as it accrues, using the effective interest method.

Interest payable
Interest payable is recognised in the profit and loss as it accrues, using the effective interest method.

Investments
Investments are recorded at cost less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

MARYLEBONE FINCO LIMITED (REGISTERED NUMBER: 09991004)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. FIXED ASSET INVESTMENTS

The company's investments at the Balance Sheet date in the share capital of companies include the following:

ST. JULIAN INVESTMENTS NO. 2 LIMITED
Registered office: Oriel House, York Lane, St. Helier, JE2 4YH, Jersey
Nature of business: Holding company
%
Class of shares: holding
Ordinary 100.00
2024 31.3.23
£'000 £'000
Aggregate capital and reserves (4 ) (3 )
Loss for the year (1 ) (1 )

The above investment has been recognised at cost of £101 (2023: £101).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£'000 £'000
Amounts owed by group undertakings 60,403 52,523

Refer to Note 4 on details of restatement.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£'000 £'000
Taxation and social security 13 14
Other creditors 81,812 852
81,825 866

Refer to Note 4 on details of restatement.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
as restated
£'000 £'000
Other creditors - 70,267

The above loan is from HC Finance S.a.r.l, bearing interest at a rate of 15% per annum. The loan will be repayable in full on 18 June 2024. As of the year-end, since the loan was due within 12 months, it has been reclassified from "creditors - amounts falling due after more than one year" to "creditors - amounts falling due within one year." Subsequently, the loan was refinanced on 31 January 2025, and the revised maturity date is 36 months from the date of first utilization.

MARYLEBONE FINCO LIMITED (REGISTERED NUMBER: 09991004)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. SECURED DEBTS

Solutus Advisors Limited as security trustee for the lender has created a negative pledge, fixed and floating charge covering all the property or undertaking of the Company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as restated
£    £   
201 Ordinary 1 201 201

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Bharat Vanza BSc (Hons) FCA FCCA (Senior Statutory Auditor)
for and on behalf of STGCA LLP t/a Sterling

11. RELATED PARTY DISCLOSURES

The company has taken exemption, per clause 1AC.35 of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. ULTIMATE CONTROLLING PARTY

The company is jointly owned by Marylebone Lane Hold Co Limited & Kailas Hotel Holdings Limited both companies registered in Jersey. The ultimate controlling parties are the Trustees of The Ram Trust.