Euro-Study Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03731993

Euro-Study Limited

Filleted Financial Statements

31 August 2025

Euro-Study Limited

Statement of Financial Position

31 August 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	1,474,532	1,899,903
Investments	6	44,553	44,553
		------------	------------
		1,519,085	1,944,456

Current assets

Debtors	7	712,594	848,365
Cash at bank and in hand		38,921	5,645
		---------	---------
		751,515	854,010

Creditors: amounts falling due within one year	8	2,381,469	2,822,893
		------------	------------
Net current liabilities		1,629,954	1,968,883
		------------	------------
Total assets less current liabilities		( 110,869)	( 24,427)
		---------	--------
Net liabilities		( 110,869)	( 24,427)
		---------	--------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	( 111,869)	( 25,427)
	---------	--------
Shareholders deficit	( 110,869)	( 24,427)
	---------	--------

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 income and retained earnings has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 13 May 2026 , and are signed on behalf of the board by:

Mr A Sangiuseppe

Director

Company registration number: 03731993

Euro-Study Limited

Notes to the Financial Statements

Year ended 31 August 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3-5 Earls Avenue, Folkestone, Kent, CT20 2HR, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 considered going concern. The directors have received confirmation of support from the other companies in the group and the group has also received confirmation from the ultimate shareholder that they will continue to support the entity to meet its liabilities as they fall due. The directors have no reason to believe that this will not be received, if required, and continue to prepare the accounts on this basis.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Castlewood Hotels Holding Ltd. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. (c) Disclosures in respect of share-based payments have not been presented. (d) No disclosure has been given for the aggregate remuneration of key management personnel. These exemptions have been applied on the basis that Castlewood Hotels Holding Ltd includes the equivalent disclosures for the entity in its consolidated financial statements prepared in accordance with UK GAAP.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. When investment property is revalued certain judgements are made which are based on the current developments in the real estate such as open market lettings trends for the properties in the similar conditions, usage and locations. The directors consider information from a variety of sources to apply judgement that the carrying value is not materially different to the fair value.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Tangible assets

Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:

Freehold property	-	2% straight line
Fixtures and fittings	-	20% straight line
Equipment	-	20% straight line

Freehold property is carried at fair value at the date of revaluation less any subsequent accumulated impairment losses. No depreciation is charged.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued at fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment of fixed assets

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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2024: 3 ).

5. Tangible assets

	Freehold property	Investment Property	Total
	£	£	£
Cost
At 1 September 2024	1,414,335	522,934	1,937,269
Disposals	( 423,555)	–	( 423,555)
	------------	---------	------------
At 31 August 2025	990,780	522,934	1,513,714
	------------	---------	------------
Depreciation
At 1 September 2024	37,366	–	37,366
Charge for the year	1,816	–	1,816
	------------	---------	------------
At 31 August 2025	39,182	–	39,182
	------------	---------	------------
Carrying amount
At 31 August 2025	951,598	522,934	1,474,532
	------------	---------	------------
At 31 August 2024	1,376,969	522,934	1,899,903
	------------	---------	------------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 September 2024 and 31 August 2025	44,553
	--------
Impairment
At 1 September 2024 and 31 August 2025	–
	--------

Carrying amount
At 31 August 2025	44,553
	--------
At 31 August 2024	44,553
	--------

This investment relates to a 100% shareholding in Font Salada, a registered trading hotel in Spain.

7. Debtors

	2025	2024
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	695,266	796,579
Other debtors	17,328	51,786
	---------	---------
	712,594	848,365
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	2,419	21,053
Amounts owed to group undertakings and undertakings in which the company has a participating interest	2,377,259	2,493,435
Other creditors	1,791	308,405
	------------	------------
	2,381,469	2,822,893
	------------	------------

9. Summary audit opinion

The auditor's report dated 20 May 2026 was unqualified .

The senior statutory auditor was Alexander Baker , for and on behalf of Burgess Hodgson Audit Limited .

10. Related party transactions

At the year end the company owed the Directors £nil (2024: £305,000)

11. Controlling party

Castlewood Hotels Holding Limited (company number: 11172745) is the ultimate parent company. The registered office address of Castlewood Hotels Holding Limited is 3-5 Earls Avenue, Folkestone, Kent, England, CT20 2HR . There is no one single controlling party of Castlewood Hotels Holding Limited.