REGISTERED NUMBER: 05390722 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

MILLARDS HOTELS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs C Chrysostomou

Mr A Chrysostomou

SECRETARY:

Mrs C Chrysostomou

REGISTERED OFFICE:

869 High Road

London

N12 8QA

REGISTERED NUMBER:

05390722 (England and Wales)

ACCOUNTANTS:

AC Partners Professional Services Ltd

Chartered Accountants

869 High Road

London

N12 8QA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

92,122

115,365

Investments

6

198,101

206,291

290,223

321,656

CURRENT ASSETS

Stocks

5,822

5,532

Debtors

7

33,594

127,577

Cash at bank and in hand

1,413,432

1,027,887

1,452,848

1,160,996

CREDITORS

Amounts falling due within one year

8

554,745

639,364

NET CURRENT ASSETS

898,103

521,632

TOTAL ASSETS LESS CURRENT LIABILITIES

1,188,326

843,288

CREDITORS

Amounts falling due after more than one year

9

(21,368

)

(20,823

)

PROVISIONS FOR LIABILITIES

10

(18,042

)

(23,241

)

NET ASSETS

1,148,916

799,224

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

12,831

5,408

Retained earnings

1,135,985

793,716

SHAREHOLDERS' FUNDS

1,148,916

799,224

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 5 June 2026 and were signed on its behalf by:

Mr A Chrysostomou - Director

1.	STATUTORY INFORMATION

Millards Hotels Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents net invoiced boarding charges, excluding value added tax.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

TANGIBLE FIXED ASSETS

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

Improvements to property

-

10% on cost

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on reducing balance

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiary undertakings are stated at cost and revalued annually. Revaluation gains are recognised in other comprehensive income and accumulated in equity, unless they reverse a previous impairment loss, in which case the reversal is recognised in profit or loss. Revaluation losses are recognised in profit or loss to the extent that they exceed any previously recognised revaluation gains. Dividends received from subsidiaries are recognised in profit or loss when the right to receive payment is established.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FINANCIAL INSTRUMENTS

Financial assets and financial liabilities are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances are initially measured at transaction price including transaction cost and are subsequently carried at amortised cost using the effective interest method.

Impairment

Assets not measured at fair value are reviewed for any indications that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the currying amount would have been, had the impairment not previously been recognised.The impairment reversal is recognised in profit or loss.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including trade and other payables 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 payments discounted at the market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Accounts 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

PROVISIONS

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the account can be reliably estimated.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2025 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2025

and 31 March 2026

19,916

AMORTISATION

At 1 April 2025

and 31 March 2026

19,916

NET BOOK VALUE

At 31 March 2026

-

At 31 March 2025

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2025

and 31 March 2026

1,368,197

1,082,049

40,646

2,490,892

DEPRECIATION

At 1 April 2025

1,368,197

967,995

39,335

2,375,527

Charge for year

-

22,811

432

23,243

At 31 March 2026

1,368,197

990,806

39,767

2,398,770

NET BOOK VALUE

At 31 March 2026

-

91,243

879

92,122

At 31 March 2025

-

114,054

1,311

115,365

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST OR VALUATION

At 1 April 2025

206,291

Additions

(14,730

)

Revaluations

6,540

At 31 March 2026

198,101

NET BOOK VALUE

At 31 March 2026

198,101

At 31 March 2025

206,291

Cost or valuation at 31 March 2026 is represented by:

Shares in

group

undertakings

£

Valuation in 2025

6,291

Valuation in 2026

6,540

Cost

185,270

198,101

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

3,465

50,323

Other debtors

30,129

77,254

33,594

127,577

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

2,092

1,893

Trade creditors

2,564

43,900

Amounts owed to group undertakings

338,473

362,667

Taxation and social security

184,161

193,831

Other creditors

27,455

37,073

554,745

639,364

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Amounts owed to group undertakings

21,368

20,823

10.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

18,042

23,241

Deferred

tax

£

Balance at 1 April 2025

23,241

Provided during year

(3,909

)

Unused amounts reversed during year

(1,290

)

Balance at 31 March 2026

18,042

11.	RELATED PARTY DISCLOSURES

Included in creditors due within one year is an amount of £100 (2025: £100) owed to the director Mr A Chrysostomou. No interest is charged on this amount which is repayable on demand.

12.	ULTIMATE CONTROLLING PARTY