REGISTERED NUMBER: SC242324 (Scotland)

Unaudited Financial Statements for the Year Ended 31 January 2026

for

Hannigan Hotels Ltd.

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

150,819

78,835

Investment property

5

14,265,227

13,742,256

14,416,046

13,821,091

CURRENT ASSETS

Debtors

6

283,434

114,700

Cash at bank

907,848

1,095,862

1,191,282

1,210,562

CREDITORS

Amounts falling due within one year

7

(2,816,077

)

(2,888,753

)

NET CURRENT LIABILITIES

(1,624,795

)

(1,678,191

)

TOTAL ASSETS LESS CURRENT LIABILITIES

12,791,251

12,142,900

CREDITORS

Amounts falling due after more than one year

8

(1,186,394

)

(1,529,945

)

PROVISIONS FOR LIABILITIES

(671,340

)

(715,842

)

NET ASSETS

10,933,517

9,897,113

CAPITAL AND RESERVES

Called up share capital

2,060

2,060

Retained earnings

10,931,457

9,895,053

SHAREHOLDERS' FUNDS

10,933,517

9,897,113

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 June 2026 and were signed on its behalf by:

Mr D Hannigan - Director

1.	STATUTORY INFORMATION

Hannigan Hotels Ltd is a private company, limited by shares, domiciled in Scotland, registration number SC242324. The registered office is Unit 5 Gateway Business Park, Beanrcross Road, Grangemouth, Stirlingshire, FK3 8WX.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced property rental income, excluding value added tax. Income is recognised when the agreed rental periods have expired.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 20% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore these are depreciated to nil value across the appropriate lifespan of the asset.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2025 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2025

114,869

Additions

114,360

At 31 January 2026

229,229

DEPRECIATION

At 1 February 2025

36,034

Charge for year

42,376

At 31 January 2026

78,410

NET BOOK VALUE

At 31 January 2026

150,819

At 31 January 2025

78,835

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2025

13,742,256

Additions

522,971

At 31 January 2026

14,265,227

NET BOOK VALUE

At 31 January 2026

14,265,227

At 31 January 2025

13,742,256

Fair value at 31 January 2026 is represented by:

£

Valuation in 2019

1,115,259

Valuation in 2020

450,000

Valuation in 2021

968,722

Cost

11,731,246

14,265,227

If investment property had not been revalued it would have been included at the following historical cost:

31.1.26

31.1.25

£

£

Cost

11,731,246

11,208,275

Investment property was valued on an open market value basis on 31 January 2021 by the Board of Directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

£

Trade debtors

36,685

40,024

Amounts owed by related parties

37,833

-

Other debtors

208,916

74,676

283,434

114,700

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

£

Bank loans and overdrafts

523,872

523,872

Trade creditors

59,357

56,092

Amounts owed to related parties

1,071,112

1,041,405

Taxation and social security

70,410

163,904

Other creditors

1,091,326

1,103,480

2,816,077

2,888,753

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.26

31.1.25

£

£

Bank loans

1,186,394

1,529,945

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.26

31.1.25

£

£

Bank loans

1,710,266

2,053,817

In respect of the bank loans provided, the Clydesdale Bank holds a floating charge over the whole of the assets of the company and standard security over certain investment properties.

10.	RELATED PARTY DISCLOSURES

Companies under common control

The company received rent and service charges totalling £121,500 (2025: £151,500). No related party balances were written off during the year (2025: £-7,938). At the year end, amounts owed to related parties totalled £1,071,112 (2025: £1,041,405), and amounts owed by related parties totalled £37,833 (2025: £nil).

Companies owned by a family member

At the year end, loans of £220,000 were due to companies owned by a family member (2025: £nil). Interest is charged on these loans at a rate of 4% per annum from October 2025.

Family member

At the year end, a loan of £580,000 was due to a family member (2025: £nil). Interest is charged on this loan at a rate of 4% per annum from October 2025.