Company Registration No. 09635340 (England and Wales)
UBH MANCHESTER LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
29 MARCH 2025
6 Queen Street
Leeds
West Yorkshire
LS1 2TW
UBH MANCHESTER LIMITED
CONTENTS
Page
Company information
1
Strategic report
2 - 3
Directors' report
4
Directors' responsibilities statement
5
Independent auditor's report
6 - 9
Statement of income and retained earnings
10
Balance sheet
11
Notes to the financial statements
12 - 22
UBH MANCHESTER LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr J S H Houlston
Mr M A Joyce
Company number
09635340
Registered office
Hotel Indigo Manchester
Victoria Station
6 Todd Street
Manchester
M3 1WU
Auditor
TC Group
6 Queen Street
Leeds
West Yorkshire
LS1 2TW
UBH MANCHESTER LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 29 MARCH 2025
- 2 -

The directors present the strategic report for the year ended 29 March 2025.

Fair review of the business

The year ended 29 th March 2025 saw the company, along with the Unique Boutique Hotels group as a whole, continue to operate within a stabilising but still evolving market environment. The wider Manchester market has remained resilient, although performance continues to be influenced by inflationary pressures and a competitive trading landscape.

The hotel team has continued to focus on operational efficiency and cost control. Despite these efforts, increases in operating costs combined with pressure on revenue have resulted in a reduction in operating performance during the year.

The directors continue to review the Company’s funding structure. Whilst refinancing has not yet been completed, options are currently under consideration and remain at an early stage. The intention is to secure a more sustainable long-term capital structure as trading performance continues to stabilise.

Key performance indicators
Unit
2025
2024
Turnover
£000's
6,712
6,800
RevPAR
£000's
98
100
EBITDAR
£000's
1,383
1,779
Principal risks and uncertainties

The Company’s activities may be impacted by a number of factors.

The principal risk to the company remains the wider UK market and global uncertainty.

Other risks include increases in key operating costs such as wages and direct food costs. We regularly review our costs and renegotiate terms where possible, however like all are experiencing in hospitality rising costs are inevitable. Being able to recruit and retain quality employees remains a risk, however we have done much to mitigate this and are a leading employer in the area and the sector.

The Company uses bank and other borrowings to finance its activities and is therefore exposed to funding and liquidity risks, including the need to refinance existing loan facilities as they fall due. The directors are actively engaged in discussions to secure appropriate refinancing. Funding proposals have been received and are being reviewed. At the date of this report that process is continuing and while the Directors are confident of a successful outcome, there remains a risk that a successful refinancing will not be achieved.

The Company also has significant rent arrears, accumulated during the COVID-19 pandemic, and is in ongoing discussions with its landlord regarding the settlement of these balances. The preferred refinance option will also deal with the lease arrears. However, as stated above, there is a risk that an agreement may not be reached on terms consistent with the Company’s cash flow projections.

The Company is also exposed to the risk of rising interest rates. The directors keep the funding position under continual review and seek to secure fixed rates on borrowings wherever possible. The Company's principal borrowings are secured on fixed rates.

UBH MANCHESTER LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 29 MARCH 2025
- 3 -

On behalf of the board

Mr J S H Houlston
Director
8 June 2026
UBH MANCHESTER LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 29 MARCH 2025
- 4 -

The directors present their annual report and financial statements for the year ended 29 March 2025.

Principal activities

The principal activity of the company continued to be that of a hotel operator.

Results and dividends

The results for the year are set out on page 10.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr J S H Houlston
Mr M A Joyce
Auditor

In accordance with the company's articles, a resolution proposing that TC Group be reappointed as auditor of the company will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
Mr J S H Houlston
Director
8 June 2026
UBH MANCHESTER LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 29 MARCH 2025
- 5 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

UBH MANCHESTER LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF UBH MANCHESTER LIMITED
- 6 -
Opinion

We have audited the financial statements of UBH Manchester Limited (the 'company') for the year ended 29 March 2025 which comprise the statement of income and retained earnings, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 29 March 2025 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; 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 Auditor's responsibilities 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 UK, including the FRC’s Ethical Standard, and 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.

Material uncertainty related to going concern

We draw attention to note 1.2 to the financial statements which describes the directors’ assessment of the Company’s ability to continue as a going concern. As explained in that note, the Company’s ability to continue as a going concern is dependent on the successful refinancing of its existing loan facilities in order to meet its liabilities (including the rent ar r ears) as they fall due. However, at the date of approval of these financial statements, the refinancing of existing debt and rent a r rears has not been finalised and therefore remains subject to uncertainty. As stated in note 1.2, these events and conditions indicate that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern.

Our opinion is not modified in respect of this matter.

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.

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

UBH MANCHESTER LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF UBH MANCHESTER LIMITED
- 7 -

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 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 our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have 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 obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

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.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, 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, the directors are 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 the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

UBH MANCHESTER LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF UBH MANCHESTER LIMITED
- 8 -
Auditor's responsibilities for the audit of the financial statements

Our objectives 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 our 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.

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

Extent to which the audit was capable of detecting irregularities, including fraud

The objectives of our audit, in respect of fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

Our approach was as follows:

- We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the director and other management (as required by auditing standards), and discussed with the director and other management the policies and procedures regarding compliance with laws and regulations;

- We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102 and the Companies Act 2006), relevant tax compliance regulations in the UK, food and hygiene regulations, health and safety regulations and employment law;

- We considered the nature of the industry, the control environment and business performance, including key drivers for management's remuneration;

- We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit;

- We considered the procedures and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes.

UBH MANCHESTER LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF UBH MANCHESTER LIMITED
- 9 -

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from material fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect all non-compliance with laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Our report

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.

Mark Hunter FCA (Senior Statutory Auditor)
For and on behalf of TC Group
Statutory Auditor
8 June 2026
6 Queen Street
Leeds
West Yorkshire
LS1 2TW
UBH MANCHESTER LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 29 MARCH 2025
- 10 -
2025
2024
Notes
£
£
Turnover
2
6,712,187
6,799,962
Cost of sales
(1,400,238)
(1,355,245)
Gross profit
5,311,949
5,444,717
Administrative expenses
(5,446,970)
(5,213,636)
Operating (loss)/profit
3
(135,021)
231,081
Interest payable and similar expenses
5
(697,920)
(697,920)
Loss before taxation
(832,941)
(466,839)
Tax on loss
6
55,932
97,615
Loss for the financial year
(777,009)
(369,224)
Retained earnings brought forward
(5,426,586)
(5,057,362)
Retained earnings carried forward
(6,203,595)
(5,426,586)

The profit and loss account has been prepared on the basis that all operations are continuing operations.

UBH MANCHESTER LIMITED
BALANCE SHEET
AS AT 29 MARCH 2025
29 March 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
7
13,617,554
13,991,049
Current assets
Stocks
8
36,610
39,335
Debtors
9
908,639
1,055,646
Cash at bank and in hand
156,329
452,453
1,101,578
1,547,434
Creditors: amounts falling due within one year
10
(13,177,896)
(13,027,435)
Net current liabilities
(12,076,318)
(11,480,001)
Total assets less current liabilities
1,541,236
2,511,048
Creditors: amounts falling due after more than one year
11
(613,754)
(750,625)
Provisions for liabilities
Deferred tax liability
13
-
0
55,932
-
(55,932)
Net assets
927,482
1,704,491
Capital and reserves
Called up share capital
15
2
2
Revaluation reserve
7,131,075
7,131,075
Profit and loss reserves
(6,203,595)
(5,426,586)
Total equity
927,482
1,704,491
The financial statements were approved by the board of directors and authorised for issue on 8 June 2026 and are signed on its behalf by:
Mr J S H Houlston
Director
Company registration number 09635340 (England and Wales)
UBH MANCHESTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2025
- 12 -
1
Accounting policies
Company information

UBH Manchester Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hotel Indigo Manchester, Victoria Station, 6 Todd Street, Manchester, M3 1WU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Unique Boutique Hotels Limited. These consolidated financial statements are available from its registered office at Ground Floor, 6 Queen Street, Leeds, West Yorkshire, United Kingdom, LS1 2TW.

UBH MANCHESTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MARCH 2025
1
Accounting policies
(Continued)
- 13 -
1.2
Going concern

The financial statements have been prepared on a going concern basis.true

The directors have prepared cash flow forecasts for a period of at least twelve months from the date of approval of these financial statements, which reflect the current trading performance, committed cost base and expected future funding profile.

The forecasts indicate that the Company will require the successful refinancing of its existing loan facilities in order to meet its liabilities (including the rent arrears) as they fall due. However, at the date of approval of these financial statements, the refinancing of existing debt and rent arears has not been finalised. These events and conditions indicate that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern.

The directors are actively engaged in discussions regarding the refinancing of these facilities and are progressing plans to secure appropriate funding on acceptable terms. However, at the date of approval of these financial statements, the refinancing has not been finalised.

Notwithstanding the above, the directors have a reasonable expectation that the Company will be able to successfully refinance its loan facilities and reach satisfactory arrangements with the landlord, and on that basis have prepared the financial statements on a going concern basis.

1.3
Turnover

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
over 125 years
Fixtures and fittings
15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

UBH MANCHESTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MARCH 2025
1
Accounting policies
(Continued)
- 14 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

UBH MANCHESTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MARCH 2025
1
Accounting policies
(Continued)
- 15 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Accommodation
5,351,055
5,451,216
Food and beverages
1,091,996
1,124,047
Events
104,666
145,676
Leisure
23,191
1,574
Other
141,279
77,449
6,712,187
6,799,962

All turnover arose within the United Kingdom.

UBH MANCHESTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MARCH 2025
- 16 -
3
Operating (loss)/profit
2025
2024
Operating (loss)/profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
15,250
15,000
Depreciation of owned tangible fixed assets
373,495
421,494
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Directors
2
2
Hotel operations
89
84
Total
91
86

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,674,451
1,626,484
Social security costs
131,372
123,304
Pension costs
25,709
24,610
1,831,532
1,774,398
5
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
697,920
697,920
UBH MANCHESTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MARCH 2025
- 17 -
6
Taxation
2025
2024
£
£
Deferred tax
Origination and reversal of timing differences
(55,932)
(97,615)

The actual credit for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Loss before taxation
(832,941)
(466,839)
Expected tax credit based on the standard rate of corporation tax in the UK of 25.00% (2024: 24.97%)
(208,235)
(116,557)
Tax effect of expenses that are not deductible in determining taxable profit
12,850
79
Group relief
24,943
-
0
Permanent capital allowances in excess of depreciation
19,016
18,992
Change in rate of deferred tax
-
0
(129)
Movement in deferred tax not recognised
95,494
-
0
Taxation credit for the year
(55,932)
(97,615)
UBH MANCHESTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MARCH 2025
- 18 -
7
Tangible fixed assets
Leasehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 30 March 2024 and 29 March 2025
12,685,306
4,086,721
16,772,027
Depreciation and impairment
At 30 March 2024
507,556
2,273,422
2,780,978
Depreciation charged in the year
101,500
271,995
373,495
At 29 March 2025
609,056
2,545,417
3,154,473
Carrying amount
At 29 March 2025
12,076,250
1,541,304
13,617,554
At 29 March 2024
12,177,750
1,813,299
13,991,049

The interest in the l ong leasehold was revalued to fair value at 31 March 2019. The directors consider the valuation of the long leasehold interest has not changed significantly during the years to 29 th March 2024 and 29 th March 2025.

8
Stocks
2025
2024
£
£
Finished goods and goods for resale
36,610
39,335
9
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
248,763
195,706
Other debtors
294,486
513,883
Prepayments and accrued income
365,390
346,057
908,639
1,055,646
UBH MANCHESTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MARCH 2025
- 19 -
10
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans
12
60,000
60,000
Other borrowings
12
8,724,000
8,724,000
Trade creditors
996,334
441,772
Taxation and social security
82,836
212,893
Other creditors
711,961
893,888
Accruals and deferred income
2,602,765
2,694,882
13,177,896
13,027,435

There is a fixed and floating charge over the long leasehold property at Todd Street, Manchester, M3 1WU.

11
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
12
5,212
95,833
Other creditors
608,542
654,792
613,754
750,625
Amounts included above which fall due after five years are as follows:
Payable other than by instalments
423,542
469,792
12
Loans and overdrafts
2025
2024
£
£
Bank loans
65,212
155,833
Other loans
8,724,000
8,724,000
8,789,212
8,879,833
Payable within one year
8,784,000
8,784,000
Payable after one year
5,212
95,833
UBH MANCHESTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MARCH 2025
12
Loans and overdrafts
(Continued)
- 20 -

Other loans include a loan provided by Octopus Administrative Services Financial Limited, which is denominated in Pounds Sterling with a nominal interest rate of 8.0%. The carrying value at the period end is £8,724,000 (2024 - £8,724,000). The loan is due for repayment within 12 months of the reporting date and is therefore classified as due within one year.

The loan is secured by a way of a fixed and floating charge over the leasehold property known as the land at Todd Street, Manchester, M3 1WU.

13
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
400,178
366,336
Tax losses
(2,182,840)
(2,092,751)
Property revaluations
1,782,744
1,782,744
Short term timing differences
(82)
(397)
-
55,932
2025
Movements in the year:
£
Liability at 30 March 2024
55,932
Credit to profit or loss
(55,932)
Liability at 29 March 2025
-

The deferred tax liability set out above relates to accelerated capital allowances and is expected to reverse over the useful economic lives of the associated tangible fixed assets.

UBH MANCHESTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MARCH 2025
- 21 -
14
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
25,709
24,610

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

Contributions totalling £4,294 (202 4 - £4,066) were payable to the scheme at the end of the year and are included in creditors.

15
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Share of 10p each
11
11
1
1
Ordinary B Share of 10p each
9
9
1
1
20
20
2
2
16
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within one year
1,243,217
1,243,217
Between two and five years
4,972,868
4,972,868
In over five years
132,506,212
133,749,429
Total commitments
138,722,297
139,965,514
UBH MANCHESTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MARCH 2025
- 22 -
17
Related party transactions

The Company has taken the exemption set out in FRS 102 from disclosing transactions with wholly owned group members.

Transactions with directors

Included within other creditors are the following amounts owed to directors:

- £12,000 (2024 - £12,000) by Mr J Houlston. No interest was charged on this balance.

18
Ultimate controlling party

The company's immediate parent is Unique Boutique Hotels Ltd, incorporated in England and Wales. The address of its registered office is Ground Floor, 6 Queen Street, Leeds. LS1 2TW.

The company's ultimate controlling party is James Houlston.

2025-03-29 2024-03-30 false false false CCH Software CCH Accounts Production 2026.100 Mr J S H Houlston Mr M A Joyce 09635340 2024-03-30 2025-03-29 09635340 bus:Director1 2024-03-30 2025-03-29 09635340 bus:Director2 2024-03-30 2025-03-29 09635340 bus:RegisteredOffice 2024-03-30 2025-03-29 09635340 2025-03-29 09635340 2023-03-30 2024-03-29 09635340 core:RetainedEarningsAccumulatedLosses 2024-03-29 09635340 core:RetainedEarningsAccumulatedLosses 2023-03-29 09635340 core:ShareCapital 2025-03-29 09635340 core:ShareCapital 2024-03-29 09635340 core:RevaluationReserve 2025-03-29 09635340 core:RevaluationReserve 2024-03-29 09635340 core:RetainedEarningsAccumulatedLosses 2025-03-29 09635340 core:RetainedEarningsAccumulatedLosses 2024-03-29 09635340 2024-03-29 09635340 core:ShareCapitalOrdinaryShareClass1 2025-03-29 09635340 core:ShareCapitalOrdinaryShareClass1 2024-03-29 09635340 core:ShareCapitalOrdinaryShareClass2 2025-03-29 09635340 core:ShareCapitalOrdinaryShareClass2 2024-03-29 09635340 core:ShareCapitalOrdinaryShares 2025-03-29 09635340 core:ShareCapitalOrdinaryShares 2024-03-29 09635340 core:LandBuildings core:LongLeaseholdAssets 2025-03-29 09635340 core:FurnitureFittings 2025-03-29 09635340 core:LandBuildings 2024-03-29 09635340 core:FurnitureFittings 2024-03-29 09635340 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-29 09635340 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-29 09635340 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-29 09635340 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-29 09635340 core:Non-currentFinancialInstruments 2025-03-29 09635340 core:Non-currentFinancialInstruments 2024-03-29 09635340 core:LandBuildings core:LongLeaseholdAssets 2024-03-30 2025-03-29 09635340 core:FurnitureFittings 2024-03-30 2025-03-29 09635340 core:UKTax 2024-03-30 2025-03-29 09635340 core:UKTax 2023-03-30 2024-03-29 09635340 1 2024-03-30 2025-03-29 09635340 1 2023-03-30 2024-03-29 09635340 2 2024-03-30 2025-03-29 09635340 2 2023-03-30 2024-03-29 09635340 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-03-29 09635340 core:FurnitureFittings 2024-03-29 09635340 2024-03-29 09635340 core:LandBuildings core:LeasedAssetsHeldAsLessee 2025-03-29 09635340 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-03-30 2025-03-29 09635340 core:CurrentFinancialInstruments 2025-03-29 09635340 core:CurrentFinancialInstruments 2024-03-29 09635340 core:WithinOneYear 2025-03-29 09635340 core:WithinOneYear 2024-03-29 09635340 core:Non-currentFinancialInstruments 1 2025-03-29 09635340 core:Non-currentFinancialInstruments 1 2024-03-29 09635340 bus:OrdinaryShareClass1 2024-03-30 2025-03-29 09635340 bus:OrdinaryShareClass2 2024-03-30 2025-03-29 09635340 bus:OrdinaryShareClass1 2025-03-29 09635340 bus:OrdinaryShareClass1 2024-03-29 09635340 bus:OrdinaryShareClass2 2025-03-29 09635340 bus:OrdinaryShareClass2 2024-03-29 09635340 bus:AllOrdinaryShares 2025-03-29 09635340 bus:AllOrdinaryShares 2024-03-29 09635340 core:BetweenTwoFiveYears 2025-03-29 09635340 core:BetweenTwoFiveYears 2024-03-29 09635340 core:MoreThanFiveYears 2025-03-29 09635340 core:MoreThanFiveYears 2024-03-29 09635340 bus:PrivateLimitedCompanyLtd 2024-03-30 2025-03-29 09635340 bus:FRS102 2024-03-30 2025-03-29 09635340 bus:Audited 2024-03-30 2025-03-29 09635340 bus:FullAccounts 2024-03-30 2025-03-29 xbrli:pure xbrli:shares iso4217:GBP