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Company registration number: 07295620
Magnuson Hotels International Ltd
Unaudited filleted financial statements
31 December 2024
Magnuson Hotels International Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Magnuson Hotels International Ltd
Directors and other information

| Directors | Mr Thomas Magnuson
|  | Mrs Melissa Magnuson
| Company number | 07295620
| Registered office | 64 Baker Street
|  | London
|  | W1U 7GB
| Accountants | Redford and Co Limited
|  | Chartered Accountants
|  | First Floor
|  | 64 Baker Street
|  | London
|  | W1U 7GB

Magnuson Hotels International Ltd
Statement of financial position
31 December 2024

|  |  | 2024 |  |  |  | 2023 |  |
|  | Note | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |  |
Intangible assets |  | 5 | - |  |  |  | 3,086 |  |
Tangible assets |  | 6 | 5,804 |  |  |  | 8,639 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  |  |  | 5,804 |  |  |  | 11,725
Current assets |  |  |  |  |  |  |  |  |
Debtors: |  |  |  |  |  |  |  |  |
| Amounts falling due within one year | 7 | 266,052 |  |  |  | 204,753 |  |
Cash at bank and in hand |  |  | 9,059 |  |  |  | 7,358 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  | 275,111 |  |  |  | 212,111 |  |
Creditors: amounts falling due |  |  |  |  |  |  |  |  |
within one year |  | 8 | ( 9,432,239) |  |  |  | ( 8,931,230) |  |
|  |  | _______ |  |  |  | _______ |  |
Net current liabilities |  |  |  |  | ( 9,157,128) |  |  |  | ( 8,719,119)
|  |  |  |  | _______ |  |  |  | _______
Total assets less current liabilities |  |  |  |  | ( 9,151,324) |  |  |  | ( 8,707,394)
Creditors: amounts falling due |  |  |  |  |  |  |  |  |
after more than one year |  | 9 |  |  | ( 9,227) |  |  |  | ( 19,234)
|  |  |  |  | _______ |  |  |  | _______
Net liabilities |  |  |  |  | ( 9,160,551) |  |  |  | ( 8,726,628)
|  |  |  |  | _______ |  |  |  | _______
Capital and reserves |  |  |  |  |  |  |  |  |
Called up share capital |  |  |  |  | 1 |  |  |  | 1
Profit and loss account |  |  |  |  | ( 9,160,552) |  |  |  | ( 8,726,629)
|  |  |  |  | _______ |  |  |  | _______
Shareholder deficit |  |  |  |  | ( 9,160,551) |  |  |  | ( 8,726,628)
|  |  |  |  | _______ |  |  |  | _______

For the 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 September 2025 , and are signed on behalf of the board by:
Mrs Melissa Magnuson
Director
Company registration number: 07295620
Magnuson Hotels International Ltd
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in UK. The address of the registered office is First Floor, 64 Baker Street, London, W1U 7GB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have determined that it is appropriate to prepare the accounts on a going concern basis, notwithstanding the Company's net liabilities position. The directors have received confirmation that the parent company will continue to fund the Company for the foreseeable future and has sufficient funds to do so.
Judgements and key sources of estimation uncertainty
Preparation of financial statements requires management to exercise judgement in applying the Company's accounting policies. Estimates and assumptions used in the preparation of the financial statements are continually reviewed and revised as necessary.In preparing these financial statements, the directors have had to make the following judgements:- Determine the market rate of interest charged on the intercompany loan balance.- Determine if website design costs meet the criteria for recognition as an intangible asset under FRS 102.
Turnover
Turnover is recognised at the time the referred business is earned and the amount of turnover can be measured reliably, and the costs incurred and the costs to complete the contract can be measured reliably. Billing invoices are made up of three components: System Access Fee; Commission Fee and GDS Source Fees.System Access Fee varies by client, but is usually a fixed minimum charge with a variable rate for technology. This fee is a service fee associated with the use of Magnuson's internet reservation system. Commission Fee is a commission from each contract holder calculated at 15% of revenue generated from the hotel site. GDS Source Fees are GDS connector fees associated with making an online reservation through a third party source (outside of Magnuson's booking engine). Magnuson Hotels International Limited is charged the connector fee and subsequently the charge is passed through to the hotel client, resulting in a minimal amount of revenue recognised.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Website development | - | 33 % | straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Computer equipment | - | 10 years straight line |
| Fixtures and fittings | - | 10 years straight line |
| Office equipment | - | 5 years straight line |

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Intangible assets

|  | Other intangible assets | Total |  |  |  |
|  | £ | £ |  |  |  |
| Cost |  |  |  |  |  |
| At 1 January 2024 and 31 December 2024 | 304,972 | 304,972 |  |  |  |
|  | _______ | _______ |  |  |  |
| Amortisation |  |  |  |  |  |
| At 1 January 2024 | 301,886 | 301,886 |  |  |  |
| Charge for the year | 3,086 | 3,086 |  |  |  |
|  | _______ | _______ |  |  |  |
| At 31 December 2024 | 304,972 | 304,972 |  |  |  |
|  | _______ | _______ |  |  |  |
| Carrying amount |  |  |  |  |  |
| At 31 December 2024 | - | - |  |  |  |
|  | _______ | _______ |  |  |  |
| At 31 December 2023 | 3,086 | 3,086 |  |  |  |
|  | _______ | _______ |  |  |  |

6. Tangible assets

|  | Plant and machinery | Fixtures, fittings and equipment | Total |  |  |  |
|  | £ | £ | £ |  |  |  |
| Cost |  |  |  |  |  |  |
| At 1 January 2024 and 31 December 2024 | 20,063 | 17,465 | 37,528 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| Depreciation |  |  |  |  |  |  |
| At 1 January 2024 | 17,062 | 11,827 | 28,889 |  |  |  |
| Charge for the year | 1,089 | 1,746 | 2,835 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| At 31 December 2024 | 18,151 | 13,573 | 31,724 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| Carrying amount |  |  |  |  |  |  |
| At 31 December 2024 | 1,912 | 3,892 | 5,804 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| At 31 December 2023 | 3,001 | 5,638 | 8,639 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |

7. Debtors
Debtors falling due within one year are as follows:

|  |  | 2024 | 2023
|  |  | £ | £
| Trade debtors |  | 7,587 | 3,818
| Other debtors |  | 258,465 | 200,935
|  |  | _______ | _______
|  |  | 266,052 | 204,753
|  |  | _______ | _______

8. Creditors: amounts falling due within one year

|  |  | 2024 | 2023
|  |  | £ | £
| Bank loans and overdrafts |  | 10,648 | 10,648
| Trade creditors |  | 4,130 | 18,503
| Amounts owed to group undertakings and undertakings in which the company has a participating interest |  | 9,380,051 | 8,854,018
| Social security and other taxes |  | 17,443 | 33,855
| Other creditors |  | 19,967 | 14,206
|  |  | _______ | _______
|  |  | 9,432,239 | 8,931,230
|  |  | _______ | _______

9. Creditors: amounts falling due after more than one year

|  |  | 2024 | 2023
|  |  | £ | £
| Bank loans and overdrafts |  | 9,227 | 19,234
|  |  | _______ | _______

10. Controlling party
The Company is a subsidiary of The Magnuson Company LLC which is the ultimate parent company incorporated in the United States of America. The registered office of The Magnuson Company LLC is 3120 S Grand #8117 Spokane WA 99203. The smallest and largest group in which the results of the Company are consolidated is that headed up by The Magnuson Company LLC. These financial statements are not publicly available. No other group accounts include the results of the Company.