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Registration number: SC706236

Mull Hotels Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 August 2025

Mull Hotels Limited

Contents

Company Information | 1
Directors' Report | 2
Accountants' Report | 3
Profit and Loss Account | 4
Statement of Comprehensive Income | 5
Balance Sheet | 6
Statement of Changes in Equity | 7
Notes to the Unaudited Financial Statements | 8 to 12

Mull Hotels Limited

Company Information

Directors | Mr Calum Eoghann Maclachlainn Mrs Sarah Braid Ms Fiona Mary Woods

Registered office | Unit 8A Baliscate Industrial Estate Tobermory Isle Of Mull Argyll PA75 6QA

Accountants | Jack MacDonald & Co Cuan Aille 1 Aldersyde Taynuilt Argyll PA35 1AG

Mull Hotels Limited

Directors' Report for the Year Ended 31 August 2025

The directors present their report and the financial statements for the year ended 31 August 2025.

Directors of the company

The directors who held office during the year were as follows:

Mr Calum Eoghann Maclachlainn

Mrs Sarah Braid

Ms Fiona Mary Woods

Principal activity

The principal activity of the company is operating a hotel

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 23 February 2026 and signed on its behalf by:

......................................... Mr Calum Eoghann Maclachlainn Director

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Mull Hotels Limited
for the Year Ended 31 August 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mull Hotels Limited for the year ended 31 August 2025 as set out on pages 4 to 12 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 Mull 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 Mull Hotels Limited and state those matters that we have agreed to state to the Board of Directors of Mull 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 Mull Hotels Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Mull 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 Mull Hotels Limited. You consider that Mull 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 Mull 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.

......................................
Jack MacDonald & Co
Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

23 February 2026

Mull Hotels Limited

Profit and Loss Account for the Year Ended 31 August 2025

| Note | 2025 £ | 2024 £
Turnover |  | 723,751 | 525,472
Cost of sales |  | (136,344) | (124,714)
Gross profit |  | 587,407 | 400,758
Administrative expenses |  | (440,376) | (440,699)
Operating profit/(loss) |  | 147,031 | (39,941)
Profit/(loss) before tax | 3 | 147,031 | (39,941)
Tax on profit/(loss) |  | (21,928) | -
Profit/(loss) for the financial year |  | 125,103 | (39,941)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

Mull Hotels Limited

Statement of Comprehensive Income for the Year Ended 31 August 2025

| 2025 £ | 2024 £
Profit/(loss) for the year | 125,103 | (39,941)
Total comprehensive income for the year | 125,103 | (39,941)

Mull Hotels Limited

(Registration number: SC706236)
Balance Sheet as at 31 August 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 46,234 | 53,446
Current assets |  |  |
Debtors | 5 | 68,523 | 66,219
Cash at bank and in hand |  | 228,534 | 63,601
|  | 297,057 | 129,820
Creditors: Amounts falling due within one year | 6 | (221,986) | (187,064)
Net current assets/(liabilities) |  | 75,071 | (57,244)
Net assets/(liabilities) |  | 121,305 | (3,798)
Capital and reserves |  |  |
Called up share capital | 7 | 100 | 100
Retained earnings |  | 121,205 | (3,898)
Shareholders' funds/(deficit) |  | 121,305 | (3,798)

For the financial year ending 31 August 2025 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 23 February 2026 and signed on its behalf by:

......................................... Mr Calum Eoghann Maclachlainn Director

Mull Hotels Limited

Statement of Changes in Equity for the Year Ended 31 August 2025

| Share capital £ | Retained earnings £ | Total £
At 1 September 2024 | 100 | (3,898) | (3,798)
Profit for the year | - | 125,103 | 125,103
At 31 August 2025 | 100 | 121,205 | 121,305

| Share capital £ | Retained earnings £ | Total £
At 1 September 2023 | 100 | 36,043 | 36,143
Loss for the year | - | (39,941) | (39,941)
At 31 August 2024 | 100 | (3,898) | (3,798)

Mull Hotels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

1 | 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.

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
Plant and machinery | 20% reducing balance

Mull Hotels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

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.

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

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.

Mull Hotels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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.

2 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2024 - 7).

3 | Profit/loss before tax

Arrived at after charging/(crediting)

| 2025 £ | 2024 £
Depreciation expense | 11,558 | 13,400

Mull Hotels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

4 | Tangible assets

| Other tangible assets £ | Total £
Cost or valuation
At 1 September 2024 | 78,127 | 78,127
Additions | 4,346 | 4,346
At 31 August 2025 | 82,473 | 82,473
Depreciation
At 1 September 2024 | 24,681 | 24,681
Charge for the year | 11,558 | 11,558
At 31 August 2025 | 36,239 | 36,239
Carrying amount
At 31 August 2025 | 46,234 | 46,234
At 31 August 2024 | 53,446 | 53,446

5 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 4,203 | 2,102
Other debtors | 64,320 | 64,117
| 68,523 | 66,219

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 8 | 1,709 | 7,102
Trade creditors |  | 20,470 | 12,937
Taxation and social security |  | 57,613 | 30,982
Other creditors |  | 142,194 | 136,043
|  | 221,986 | 187,064

Mull Hotels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

7 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary of £1 each | 100 | 100 | 100 | 100

8 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Hire purchase contracts | 1,709 | 7,102

9 | Related party transactions

Summary of transactions with other related parties

Tob Property Management & Invetsments Limited Loan received from 50% shareholder

Loans from related parties

2025 | Key management £ | Other related parties £ | Total £
At start of period | 95,000 | 39,000 | 134,000
At end of period | 95,000 | 39,000 | 134,000

2024 | Key management £ | Other related parties £ | Total £
Advanced | 95,000 | 39,000 | 134,000
At end of period | 95,000 | 39,000 | 134,000