REGISTERED NUMBER: 06310513 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2024

FOR

MIRAMAR TRAVEL UK LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Dr K S Lee

SECRETARY:

Ms N F G Chee

REGISTERED OFFICE:

2nd Floor

1-3 Old Compton Street

London

W1D 5JA

REGISTERED NUMBER:

06310513 (England and Wales)

AUDITORS:

Melinek Fine LLP

Chartered Accountants

Statutory Auditors

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

FIXED ASSETS

Tangible assets

4

4,368

4,533

CURRENT ASSETS

Debtors

5

114,505

26,916

Cash at bank

80,806

76,943

195,311

103,859

CREDITORS

Amounts falling due within one year

6

743,385

599,492

NET CURRENT LIABILITIES

(548,074

)

(495,633

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(543,706

)

(491,100

)

CAPITAL AND RESERVES

Called up share capital

1

1

Profit and loss account

7

(543,707

)

(491,101

)

SHAREHOLDERS' FUNDS

(543,706

)

(491,100

)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 September 2025 and were signed by:

Dr K S Lee - Director

1.	STATUTORY INFORMATION

Miramar Travel UK Ltd 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.

- The financial statements have been prepared on the going concern basis.

- The company during the current year generated a loss of £52,606 (2023 - £143,199) and had net current liabilities of £548,074 (2023 - £495,633).

- The company is dependent on the continuing support of its parent undertaking. The director of this company has documented his intention to continue to support Miramar Travel UK Limited for at least 12 months from the date of the signing of the balance sheet, and there is nothing to indicated that support will not be ongoing indefinitely, however, no legally binding guarantee is in place which creates a materially uncertainty regarding the company's ability to continue as a going concern.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to paid or received. If the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Taxation

Tax is recognised in the profit and loss account, except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company contributes to a defined contribution pension scheme. Contributions payable to the pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

8,776

17,803

26,579

Additions

1,291

-

1,291

At 31 December 2024

10,067

17,803

27,870

DEPRECIATION

At 1 January 2024

7,878

14,168

22,046

Charge for year

547

909

1,456

At 31 December 2024

8,425

15,077

23,502

NET BOOK VALUE

At 31 December 2024

1,642

2,726

4,368

At 31 December 2023

898

3,635

4,533

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

25,008

21,327

VAT

186

54

Prepayments and accrued income

89,311

5,535

114,505

26,916

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

4,080

360

Amounts owed to group undertakings

711,290

568,323

Other creditors

28,015

30,809

743,385

599,492

7.

RESERVES

The only movement in reserves during the period is the loss for the period of £52,606 (2023: £143,199).

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

The Report of the Auditors was unqualified.

Aryeh Melinek (Senior Statutory Auditor)

for and on behalf of Melinek Fine LLP

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK', not to disclose related party transactions with group companies on the ground that the company is a wholly owned subsidiary of the group.

10.	PARENT UNDERTAKINGS

The company which heads the smallest group within which the results of this company are consolidated is Miramar Travel Ltd. The address of its registered office is Room 2203A, 22/F, Causeway Bay Plaza, Phase 1, 489 Hennessy Road, Causeway Bay, Hong Kong.