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Registration number: 12009534

Meridian Hotels Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2024

Meridian Hotels Limited

Contents

Company Information | 1
Accountants' Report | 2
Balance Sheet | 3
Notes to the Unaudited Financial Statements | 4 to 9

Meridian Hotels Limited

Company Information

Directors | Mr Phatahchand Ghanshamdas Mulchandani Mr Ravi Mulchandani Mrs Nikkita Mulchandani Morgan Mr Rajeev Phatahchand Mulchandani

Registered office | Imperial House, 18 Eley Road Edmonton London N18 3BB

Accountants | Kajaine Kafton LLP Chartered Accountants42-46 Station Road Edgware Middlesex HA8 7AB

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Meridian Hotels Limited
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Meridian Hotels Limited for the year ended 31 December 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Meridian Hotels Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Meridian Hotels Limited and state those matters that we have agreed to state to the Board of Directors of Meridian Hotels Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Meridian Hotels Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Meridian Hotels Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Meridian Hotels Limited. You consider that Meridian Hotels Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Meridian Hotels Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................
Kajaine Kafton LLP
Chartered Accountants
42-46 Station Road
Edgware
Middlesex
HA8 7AB

5 September 2025

Meridian Hotels Limited

(Registration number: 12009534)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 4 | 90,059 | 71,612
Current assets |  |  |
Stocks | 5 | 9,981 | 11,737
Debtors | 6 | 207,509 | 1,020,617
Cash at bank and in hand |  | 57,127 | 58,022
|  | 274,617 | 1,090,376
Creditors: Amounts falling due within one year | 7 | (280,013) | (1,102,873)
Net current liabilities |  | (5,396) | (12,497)
Net assets |  | 84,663 | 59,115
Capital and reserves |  |  |
Called up share capital | 8 | 100 | 100
Retained earnings |  | 84,563 | 59,015
Shareholders' funds |  | 84,663 | 59,115

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 September 2025 and signed on its behalf by:

......................................... Mr Phatahchand Ghanshamdas Mulchandani Director

Meridian Hotels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Imperial House, 18 Eley Road
Edmonton
London
N18 3BB
United Kingdom

These financial statements were authorised for issue by the Board on 5 September 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Meridian Hotels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Fixture & Fittings | 25% reducing balance
Office Equipment | 25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Meridian Hotels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Meridian Hotels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 35 (2023 - 35).

4 | Tangible assets

| Furniture, fittings and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 January 2024 | 138,577 | 11,625 | 150,202
Additions | 40,370 | - | 40,370
At 31 December 2024 | 178,947 | 11,625 | 190,572
Depreciation
At 1 January 2024 | 71,869 | 6,721 | 78,590
Charge for the year | 20,697 | 1,226 | 21,923
At 31 December 2024 | 92,566 | 7,947 | 100,513
Carrying amount
At 31 December 2024 | 86,381 | 3,678 | 90,059
At 31 December 2023 | 66,708 | 4,904 | 71,612

5 | Stocks

| 2024 £ | 2023 £
Other inventories | 9,981 | 11,737

Meridian Hotels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6 | Debtors

Current | Note | 2024 £ | 2023 £
Trade debtors |  | 145,926 | 24,148
Amounts owed by related parties | 10 | 37,599 | -
Prepayments |  | 22,108 | 31,352
Other debtors |  | 1,876 | 965,117
|  | 207,509 | 1,020,617

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Bank loans and overdrafts | 9 | 13,727 | 5,593
Trade creditors |  | 151,909 | 126,213
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 10 | - | 105,596
Taxation and social security |  | 61,028 | 54,538
Other creditors |  | 26,793 | 766,308
Accrued expenses |  | 24,890 | 29,471
Corporation tax payable |  | 1,666 | 15,154
|  | 280,013 | 1,102,873

8 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Share capital of £1 each | 100 | 100 | 100 | 100

9 | Loans and borrowings

Current loans and borrowings

| 2024 £ | 2023 £
Bank overdrafts | 13,727 | 5,593

Meridian Hotels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

10 | Related party transactions

Summary of transactions with parent

Highview Holding Ltd is the parent company and owns 100% of the share capital in the Company. At the balance sheet date the amount owing to Highview Holding Ltd is £Nil (2023: £605,000).

Summary of transactions with all entities with joint control or significant interest

At the balance sheet date, the amount due to companies with the same ultimate beneficial owners of Meridian Hotels Ltd was £Nil (2023: £254,493). These have been disclosed in other creditors.
At the balance sheet date, the amount due from companies with the same ultimate beneficial owners of Meridian Hotels Ltd was £37,599 (2023: £945,117). These have been disclosed in other debtors.