ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Financial Statements

Molo Hotels (Cambridge West) Limited

For the financial year ended 31 December 2024

Registered number: 10647092


Molo Hotels (Cambridge West) Limited

Company Information

Directors	Marcin Mateusz Slominski
	Lukasz Wojciech Slominski
	Anwyl Richard Whitehead


Company secretary	Anwyl Richard Whitehead


Registered number	10647092


Registered office	1a "The Moorings"
	Dane Road Industrial Estate
	Cheshire
	M33 7BH


Trading Address	Back Lane
	Cambourne
	Cambridge
	CB23 6LJ



Independent auditor	Grant Thornton (NI) LLP
	Chartered Accountants & Statutory Auditors
	12 - 15 Donegall Square West
	Belfast
	BT1 6JH


Bankers	Coutts & Co
	440 Strand
	London
	WC2R 0QS


Molo Hotels (Cambridge West) Limited

Contents

	Page
Independent auditor's report	1 - 4
Statement of financial position	5 - 6
Statement of changes in equity	7
Notes to the financial statements	8 - 18

Independent auditor's report to the members of Molo Hotels (Cambridge West) Limited

Opinion

We have audited the financial statements of Molo Hotels (Cambridge West) Limited, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity for the financial year ended 31 December 2024, and the related notes to the financial statements, including a summary of material accounting policy information.

The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’.

In our opinion, Molo Hotels (Cambridge West) Limited's financial statements:

∙give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice of the assets, liabilities and financial position of the Company as at 31 December 2024 and of its financial performance for the financial year then ended; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) ('ISAs (UK)') and applicable law. Our responsibilities under those standards are further described in the 'Responsibilities of the auditor for the audit of the financial statements' section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, namely the FRC's Ethical Standard and the ethical pronouncements established by Chartered Accountants Ireland, applied as determined to be appropriate in the circumstances of the entity. We have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue.

Our responsibilities, and the responsibilities of the directors, with respect to going concern are described in the relevant sections of this report.

Page 1

Independent auditor's report to the members of Molo Hotels (Cambridge West) Limited (continued)

Other information

Other information comprises the information included in the Annual Report, other than the financial statements and our Auditor's report thereon, including the Directors' report. The directors are responsible for the other information. Our opinion on the financial statements does not cover the information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies in the financial statements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements, and

∙the Directors' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment we have obtained in the course of the audit, we have not identified material misstatements in the Directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit; or

∙the directors were not entitled to take advantage of the small companies' exemptions from the requirement to prepare a strategic report or in preparing the Directors' report.

Page 2

Independent auditor's report to the members of Molo Hotels (Cambridge West) Limited (continued)

Responsibilities of management and those charged with governance for the financial statements

Management is responsible for the preparation of the financial statements which give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice, including FRS101 and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intend to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Company's financial reporting process.

Responsibilities of the auditor for the audit of the financial statements

The objectives of an auditor are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes their opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of an auditor's responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK).

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to compliance with Data privacy laws, Employment Law, Environmental Regulations and Health and safety laws, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Companies Act 2006 and applicable tax laws. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial performance and management bias through judgements and assumptions in significant accounting estimates, in particular in relation to significant one-off or unusual transactions. We apply professional scepticism through the audit to consider potential deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statements.

Page 3

Independent auditor's report to the members of Molo Hotels (Cambridge West) Limited (continued)

In response to these principal risks, our audit procedures included but were not limited to:

∙inquiries of management on the policies and procedures in place regarding compliance with laws and regulations, including consideration of known or suspected instances of non compliance and whether they have knowledge of any actual, suspected or alleged fraud;

∙inspection of the Company's regulatory and legal correspondence and review of minutes of the board of directors meetings during the year to corroborate inquiries made;

∙gaining an understanding of the internal controls established to mitigate risk related to fraud;

∙discussion amongst the engagement team in relation the the identified laws and regulations and regarding the risk of fraud, and remaining alert to any indications of non compliance or opportunities for fraudulent manipulation of financial statements throughout the audit;

∙identifying and testing journal entries to address the risk of inappropriate journals and management override of controls;

∙designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing;

∙challenging assumptions and judgements made by management in their significant accounting estimates, including estimating useful lives of tangible assets; and

∙review of the financial statement disclosures to underlying supporting documentation and inquiries of management.

The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance and management. As with any audit, there remains a risk of non detection or irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or override of internal controls.

The purpose of our audit work and to whom we owe our responsibilities

This report is made solely to the Company’s members, as a body, in accordance with chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Neal Taylor FCA (Senior statutory auditor)

for and on behalf of

Grant Thornton (NI) LLP

Chartered Accountants

Statutory Auditors

Belfast
Date: 21 May 2025

Page 4


Molo Hotels (Cambridge West) Limited Registered number:10647092

Statement of financial position

As at 31 December 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets			17,177,939		17,524,772
			17,177,939		17,524,772
Current assets
Stocks	6	12,528		9,383
Deferred tax	7	789,475		-
Debtors: amounts falling due within one year	7	71,286		97,584
Cash and cash equivalents	8	744,090		637,104
		1,617,379		744,071
Current liabilities
Creditors: amounts falling due within one year	9	(12,790,261)		(16,795,385)
Net current liabilities			(11,172,882)		(16,051,314)
Total assets less current liabilities			6,005,057		1,473,458
Creditors: amounts falling due after more than one year	10		(4,439,651)		-
Deferred tax		-		(32,902)
			-		(32,902)
Net assets			1,565,406		1,440,556

Capital and reserves
Called up share capital	12,13	2,501,000	2,501,000
Profit and loss account	13	(935,594)	(1,060,444)
Shareholders' funds		1,565,406	1,440,556

Page 5


Molo Hotels (Cambridge West) Limited Registered number:10647092

Statement of financial position (continued)

As at 31 December 2024

The Company's financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 May 2025.

................................................ Anwyl Richard Whitehead	................................................ Lukasz Wojciech Slominski
Director	Director

The notes on pages 8 to 18 form part of these financial statements.

Page 6


Molo Hotels (Cambridge West) Limited

Statement of changes in equity

For the financial year ended 31 December 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2024	2,501,000	(1,060,444)	1,440,556

Profit for the financial year	-	124,850	124,850
At 31 December 2024	2,501,000	(935,594)	1,565,406

The notes on pages 8 to 18 form part of these financial statements.

Statement of changes in equity

For the financial year ended 31 December 2023

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2023	2,501,000	(450,632)	2,050,368

Loss for the year	-	(609,812)	(609,812)
At 31 December 2023	2,501,000	(1,060,444)	1,440,556

The notes on pages 8 to 18 form part of these financial statements.

Page 7


Molo Hotels (Cambridge West) Limited

Notes to the financial statements

For the financial year ended 31 December 2024

1.	General information

Molo Hotels (Cambridge West) Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 1a 'The Moorings', Dane Road Industrial Estate, Sale, Cheshire, M33 7BH. The address of the principal place of business is Back Lane, Cambourne, Cambridge CB23 6LJ.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 101 Reduced Disclosure Framework' and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 101 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions under FRS 101:

∙the requirements of paragraphs 45(b) and 46-52 of IFRS 2 Share-based payment

∙the requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m), B64(n)(ii), B64(o)(ii), B64(p), B64(q)(ii), B66 and B67 of IFRS 3 Business Combinations

∙the requirements of paragraph 33(c) of IFRS 5 Non Current Assets Held For Sale and Discontinued Operations

∙the requirement of paragraph 24(b) of IFRS 6 Exploration for and Evaluation of Mineral Resources to disclose the operating and investing cash flows arising from the exploration for and evaluation of mineral resources

∙the requirements of IFRS 7 Financial Instruments: Disclosures

∙the requirements of paragraphs 91-99 of IFRS 13 Fair Value Measurement

∙the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers

∙the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of IFRS 16 Leases. The requirements of paragraph 58 of IFRS 16, provided that the disclosure of details in indebtedness relating to amounts payable after 5 years required by company law is presented separately for lease liabilities and other liabilities, and in total

∙the requirement in paragraph 38 of IAS 1 'Presentation of Financial Statements' to present comparative information in respect of:

- paragraph 79(a)(iv) of IAS 1;

- paragraph 73(e) of IAS 16 Property, Plant and Equipment;

- paragraph 118(e) of IAS 38 Intangible Assets;

- paragraphs 76 and 79(d) of IAS 40 Investment Property; and

- paragraph 50 of IAS 41 Agriculture

∙the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134-136 of IAS 1 Presentation of Financial Statements

Page 8


Molo Hotels (Cambridge West) Limited

Notes to the financial statements

For the financial year ended 31 December 2024

2.Accounting policies (continued)

2.2

Financial Reporting Standard 101 - reduced disclosure exemptions (continued)

∙the requirements of IAS 7 Statement of Cash Flows

∙the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors

∙the requirements of paragraph 74A(b) of IAS 16

∙the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures

∙the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member

∙the requirements of paragraphs 130(f)(ii), 130(f)(iii), 134(d)-134(f) and 135(c)-135(e) of IAS 36 Impairment of Assets.

This information is included in the consolidated financial statements of Molo Hotel Group Limited as at 31 December 2024 and these financial statements may be obtained from 1a The Moorings, Dane Road Industrial Estate, Sale, Cheshire, United Kingdom, M33 7BH.

2.3

Going concern

After reviewing the Company’s forecasts and projections, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The company has a strong balance sheet and good cash reserves.
In addition, the shareholders have significant resources available to assist with the cash flow of the Company and have confirmed their support for the ongoing funding of the business in the event that such support is needed.
As a result of this review and the additional financial resources available to the business, the directors’ therefore continue to adopt the going concern basis in preparing the financial statements

2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 9


Molo Hotels (Cambridge West) Limited

Notes to the financial statements

For the financial year ended 31 December 2024

2.Accounting policies (continued)

2.4

Foreign currency translation (continued)

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.5

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

The Company has contracts where the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds one year. As a consequence, the Company adjusts the transaction prices of these contracts for the time value of money.

A receivable is recognised when the goods are delivered as this is the point in time that the consideration is unconditional because only the passage of time is required before the payment is due.

Rendering of services

Turnover from providing services is recognised in the accounting period in which the services are rendered.

For fixed-price contracts, turnover is recognised based on the actual service provided to the end of the reporting period as a proportion of the total services to be provided because the customer receives and uses the benefits simultaneously.

2.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 10


Molo Hotels (Cambridge West) Limited

Notes to the financial statements

For the financial year ended 31 December 2024

2.Accounting policies (continued)

2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the financial year in which they are incurred.

2.10

Current and deferred taxation

The tax expense for the financial year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge 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 respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.11

Employee benefits

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 11


Molo Hotels (Cambridge West) Limited

Notes to the financial statements

For the financial year ended 31 December 2024

2.Accounting policies (continued)

2.12

Tangible fixed assets

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Land	-	Nil
Structural work	-	1.33% straight line
Fixtures, fittings, plant & equipment (pre build up)	-	5% straight line
Fixtures, fittings, plant & equipment (post build up)	-	20% straight line
Computer equipment	-	33.33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 12


Molo Hotels (Cambridge West) Limited

Notes to the financial statements

For the financial year ended 31 December 2024

2.Accounting policies (continued)

2.16

Creditors

Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

In applying the Company's accounting policies, the Director is required to make significant judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The Director's judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making sure judgements, estimates and assumptions, the actual results and outcomes may differ. The items in the financial statements where these judgements and estimates have been made include:
Determining and reassessing the residual value and useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on future investments, economic utilisation and physical condition of the assets.
Assessing indicators of impairment
At each reporting date, fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss. If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Page 13


Molo Hotels (Cambridge West) Limited

Notes to the financial statements

For the financial year ended 31 December 2024

Employees

The average monthly number of employees, including the directors, during the financial year was as follows:

	2024	2023
	No.	No.

Admin	2	2
Front office / rooms	19	13
Kitchen and restaurant	5	9
Sales and marketing	1	1

	27	25

5.	Tangible fixed assets

	Land, foundations & groundwork	Structural works	Fixtures, fittings, plant & equipment	Total
	£	£	£	£
Cost or valuation
At 1 January 2024	946,183	11,523,635	5,950,687	18,420,505
Additions	-	64,568	44,910	109,478
At 31 December 2024	946,183	11,588,203	5,995,597	18,529,983
Depreciation
At 1 January 2024	-	301,284	594,449	895,733
Charge for the financial year	-	152,843	303,468	456,311
At 31 December 2024	-	454,127	897,917	1,352,044
Net book value
At 31 December 2024	946,183	11,134,076	5,097,680	17,177,939
At 31 December 2023	946,183	11,222,351	5,356,238	17,524,772

6.	Stocks
		2024	2023
		£	£

	Finished goods and goods for resale	12,528	9,383

Page 14


Molo Hotels (Cambridge West) Limited

Notes to the financial statements

For the financial year ended 31 December 2024

7.	Debtors: Amounts falling due within one year
		2024	2023
		£	£

Due after more than one year
Deferred tax asset	789,475	-
	789,475	-

					2024	2023
					£	£

Due within one year
Trade debtors	6,424	30,552
Other debtors	11,709	9,499
Prepayments and accrued income	53,153	57,533
	71,286	97,584

8.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	744,090	637,104
	744,090	637,104

Page 15


Molo Hotels (Cambridge West) Limited

Notes to the financial statements

For the financial year ended 31 December 2024

9.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Bank loans	-	7,221,844
Trade creditors	42,529	63,076
Amounts owed to group undertakings	11,438,000	8,810,105
Other taxation and social security	66,841	84,042
Other creditors	45,487	37,949
Accruals and deferred income	1,197,404	578,369
	12,790,261	16,795,385

Trade and other creditors are payable at various dates over the coming months in accordance with the suppliers' usual and customary credit terms.
Amounts owed to group undertakings are interest free, unsecured and repayable on demand, except those which are financing in nature whereby a market rate of interest is applied.
The bank loan is secured by debenture comprising fixed and floating charges over all assets and undertakings of the Company. The bank loan was refinanced during the year.
Corporation tax and other taxes including social insurance are repayable at various dates over the coming months in accordance with the applicable statutory provisions.

10.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

	Bank loans	4,439,651	-

Security over bank loans is as described in Note 9.

Page 16


Molo Hotels (Cambridge West) Limited

Notes to the financial statements

For the financial year ended 31 December 2024

Amounts falling due within one year
Bank loans	-	7,221,844
Amounts falling due 1-2 years
Bank loans	1,479,884	-
Amounts falling due 2-5 years
Bank loans	2,959,767	-
	4,439,651	7,221,844

Security over bank loans is as described in Note 9.

12.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

2,501,000 (2023 - 2,501,000) Ordinary shares of £1.00 each	2,501,000	2,501,000

13.

Reserves

Called up share capital

This represents the nominal value of shares that have been issued.

Profit & loss account

This includes all current and prior period retained profits and losses.

14.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge of £8,850 (2023 -£7,637) represents contributions payable by the Company to the fund. Contributions totalling £1,454 (2023 -£NIL) were payable to the fund at the balance sheet date.

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Molo Hotels (Cambridge West) Limited

Notes to the financial statements

For the financial year ended 31 December 2024

Not later than 1 year	-	1,260
Later than 1 year and not later than 5 years	-	1,155
	-	2,415

16.	Related party transactions
	The Company has taken advantage of the exemption under paragraph 8(k) of FRS101 not to disclose transactions with fellow wholly owned subsidiaries.

17.	Events after the reporting date

There have been no significant events affecting the Company since the year end.

18.	Controlling party

The Company’s immediate parent is Molo Hotel Group Limited, incorporated in England.

The Company is 100% subsidiary of Molo Hotel Group Limited, a Company incorporated in England, by virtue of its shareholding in the Company.

During 2021, the share capital of Molo Hotel Group Limited was acquired by Molo Holding SA. E Slominski and Mrs G Slominska are considered to be the ultimate controlling parties of the Group by virtue of their shareholdings in Molo SA. Molo Hotel Group Limited is the smallest and the largest group for which consolidated financial statements are prepared.

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