REGISTERED NUMBER: 07454533 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 30 June 2025

for

RW Greenside Place Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

Ms P Poussier

A Jordan

C F Skellett

SECRETARIES:

Quayseco Limited

Ms R E Jefferson

REGISTERED OFFICE:

Wessex Water Operations Centre

Claverton Down Road

Claverton Down

Bath

BA2 7WW

REGISTERED NUMBER:

07454533 (England and Wales)

The directors present their strategic report for the year ended 30 June 2025.

The principal activity of the Company is the operation of the Autograph by Marriott - Glasshouse Hotel in Edinburgh.

Glasshouse Hotel is a Marriott branded hotel with the Autograph brand. It benefits from the Marriott brand and its loyalty programme.

The Glasshouse Hotel experienced a decrease in turnover, falling to £6.8m from £7.2M in June 2024. The higher rate in 2024 was primarily driven by higher room revenue, attributed partly to the "Taylor Swift effect". Her concert in June of that year significantly boosted occupancy and revenues with no similar events in the city in the year to 30 June 2025.

Additionally, the hotel saw an increase in its Average Daily Rate; rising from £252 to £275. This improvement is credited to the revenue team's strategic guest segmentation efforts.

However, rising payroll costs continue to pressure profit margins, though this has been somewhat offset by lower energy bills.

The Company's EBITDA, as a measure of its key performance indicator (KPI) was £1.7m for the period (2024 - £1.9m).

The Glasshouse Hotel's achievement amid growing competition in Edinburgh demonstrate the strength of its service-driven culture and loyal workforce. By continuing to focus on service excellence, staff retention, and strategic market positioning, The Glasshouse can maintain its place in the Edinburgh hospitality market while navigating future industry challenges.

ON BEHALF OF THE BOARD:

Ms P Poussier - Director

26 June 2026

The directors present their report with the financial statements of the company for the year ended 30 June 2025.

DIVIDENDS

No dividends will be distributed for the year ended 30 June 2025.

DIRECTORS

The directors during the year under review were:

Ms P Poussier

A Jordan

C F Skellett

The directors holding office at 30 June 2025 did not hold any beneficial interest in the issued share capital of the company at 1 July 2024 or 30 June 2025.

The Directors interests in share option of another YTL group company, YTL Power International Berhad are

shown below.

Ms P Poussier holds 12,089 shares in YTL Power International Berhad.

GOING CONCERN

The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Further details regarding the adoption of the going concern basis can be found in the Statement of accounting policies in the financial statements.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Sumer Auditco Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Ms P Poussier - Director

26 June 2026

Opinion

We have audited the financial statements of RW Greenside Place Limited (the 'company') for the year ended 30 June 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of 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 101 'Reduced Disclosure Framework' (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 30 June 2025 and of its profit 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 Auditors' 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.

Conclusions relating to going concern

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.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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

Except for the matter referred to in the basis of qualified opinion section of our report in our opinion, based on the work undertaken in the course of the audit:

-

the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-

the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

Except for the matter referred to in the basis of qualified opinion section of our report, in the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where 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 Statement of Directors' Responsibilities set out on page three, 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 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.

Auditors' 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 a Report of the Auditors 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.

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

Explanation as to what extent the audit was considered 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 to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.

Our approach was as follows:

We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, UK Financial Reporting Standards and UK taxation legislation.

We obtained an understanding of how the company complies with these requirements by discussions with management and those charged with governance.

We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.

We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations.

Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of 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 a Report of the Auditors 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.

Simon Cunningham (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Limited

Statutory Auditor

Chartered Accountants

Lennox House

3 Pierrepont Street

Bath

Somerset

BA1 1LB

26 June 2026

TURNOVER

6,813,135

7,267,048

Cost of sales

2,566,214

2,478,687

GROSS PROFIT

4,246,921

4,788,361

Administrative expenses

3,698,895

3,710,629

OPERATING PROFIT

548,026

1,077,732

Interest payable and similar expenses

4

512,851

541,978

PROFIT BEFORE TAXATION

5

35,175

535,754

Tax on profit

6

(148,190

)

(4,185

)

PROFIT FOR THE FINANCIAL YEAR

183,365

539,939

PROFIT FOR THE YEAR

183,365

539,939

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

183,365

539,939

**	PLEASE COMPLETE CLIENT SCREEN - OTHER COMPREHENSIVE INCOME. THERE HAS BEEN REVALUATION IN CURRENT YEAR FOR PROPERTY, PLANT AND EQUIPMENT WHICH SHOULD BE REPORTED ON THIS SCREEN

FIXED ASSETS

Owned

Tangible assets

7

6,408,331

5,794,748

Right-of-use

Tangible assets

7, 13

8,791,669

8,912,607

15,200,000

14,707,355

CURRENT ASSETS

Stocks

8

49,857

50,835

Debtors

9

3,163,434

1,898,774

Cash at bank and in hand

527,631

1,086,503

3,740,922

3,036,112

CREDITORS

Amounts falling due within one year

10

3,786,608

2,695,795

NET CURRENT (LIABILITIES)/ASSETS

(45,686

)

340,317

TOTAL ASSETS LESS CURRENT LIABILITIES

15,154,314

15,047,672

CREDITORS

Amounts falling due after more than one year

11

14,095,822

13,611,545

NET ASSETS

1,058,492

1,436,127

CAPITAL AND RESERVES

Called up share capital

15

2,948,366

2,948,366

Share premium

16

3,752,885

3,752,885

Revaluation reserve

16

-

561,000

Retained earnings

16

(5,642,759

)

(5,826,124

)

SHAREHOLDERS' FUNDS

1,058,492

1,436,127

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2026 and were signed on its behalf by:

Ms P Poussier - Director

Called up

share

Retained

Share

Revaluation

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 July 2023

2,948,366

(6,366,063

)

3,752,885

561,000

896,188

Changes in equity

Total comprehensive income

-

539,939

-

-

539,939

Balance at 30 June 2024

2,948,366

(5,826,124

)

3,752,885

561,000

1,436,127

Changes in equity

Total comprehensive income

-

183,365

-

-

183,365

No description

-

-

-

(561,000

)

(561,000

)

Balance at 30 June 2025

2,948,366

(5,642,759

)

3,752,885

-

1,058,492

1.	STATUTORY INFORMATION

RW Greenside Place 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 preparation

These financial statements have been prepared in accordance with Financial Reporting Standard 101 "Reduced Disclosure Framework" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 101 "Reduced Disclosure Framework":

•

the requirements of paragraphs 45(b) and 46 to 52 of IFRS 2 Share-based Payment;

•

the requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m), B64(n)(ii), B64(o)(ii), B64(p), B64(q)(ii), B66 and B67 of IFRS 3 Business Combinations;

•

the requirements of paragraph 33(c) of IFRS 5 Non Current Assets Held for Sale and Discontinued Operations;

•

the requirements of paragraph 24(6) of IFRS 6 Exploration for and Evaluation of Mineral Resources;

•

the requirements of IFRS 7 Financial Instruments: Disclosures;

•

the requirements of paragraphs 91 to 99 of IFRS 13 Fair Value Measurement;

•

the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of IFRS 16 Leases;

the requirements of paragraph 58 of IFRS 16;

•

the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers;

•

the requirement in paragraph 38 of IAS 1 Presentation of Financial Statements to present comparative information in respect of:

-

paragraphs 53(a), (h) and (j) of IFRS 16;

-

paragraph 79(a)(iv) of IAS 1;

-

paragraph 73(e) of IAS 16 Property, Plant and Equipment;

-

paragraph 118(e) of IAS 38 Intangible Assets;

-

paragraphs 76 and 79(d) of IAS 40 Investment Property; and

-

paragraph 50 of IAS 41 Agriculture;

•

the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134 to 136 of IAS 1;

•

the requirements of

-

paragraphs 1 to 44E, 44H(b)(ii) and 45 to 63 of IAS 7 Statement of Cash Flows; and

-

paragraphs 44F, 44G, 44H(a), 44H(b)(i), 44H(b)(iii) and 44H(c) of IAS 7;

•

the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors;

•

the requirements of paragraphs 88C and 88D of IAS 12 Income Taxes;

•

the requirements of paragraph 74(b) of IAS 16;

•

the requirements of paragraphs 17 and 18A of IAS 24 Related Party Disclosures;

•

the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group;

•

the requirements of paragraphs 134(d) to 134(f) and 135(c) to 135(e) of IAS 36 Impairments of Assets.

Going concern

The directors believe that given the financial resources and the continued support of its parent undertaking, the company will remain a going concern and be able to meet its liabilities as they fall due in the next 12 months from the signing of the financial statements.

Turnover

Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales-related taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Leasehold land and buildings

lesser of 50 years or lease term

Plant & equipment

10 years

Fixtures and fittings

3 - 10 years

Stocks

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

Stocks are stated at the lower of cost and net realisable value. 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. Cost is calculated using the weighted average method. Net realisable value represents the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

Taxation

Current taxes are based on the results shown in the financial statements and are calculated according to local tax rules, using tax rates enacted or substantially enacted by the balance sheet date.

Leases

Leases are recognised as finance leases. The lease liability is initially recognised at the present value of the lease payments which have not yet been made and subsequently measured under the amortised cost method. The initial cost of the right-of-use asset comprises the amount of the initial measurement of the lease liability, lease payments made prior to the lease commencement date, initial direct costs and the estimated costs of removing or dismantling the underlying asset per the conditions of the contract.

Where ownership of the right-of-use asset transfers to the lessee at the end of the lease term, the right-of-use asset is depreciated over the asset’s remaining useful life. If ownership of the right-of-use asset does not transfer to the lessee at the end of the lease term, depreciation is charged over the shorter of the useful life of the right-of-use asset and the lease term.

Employee benefit costs

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

Loan & receivables

Trade receivables, loans, and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment. Interest income is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial.

Financial assets

All financial assets are recognised and de-recognised on a trade date where the purchase or sale of a financial asset is under a contract whose terms require delivery of the financial asset within the timeframe established by the market concerned, and are initially measured at fair value, plus transaction costs, except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value.

Impairment of Financial Assets

Financial assets, other than those at fair value through profit and loss, are assessed for indicators of impairment at each balance sheet date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected. For listed and unlisted equity investments classified as available for sale, a significant or prolonged decline in the fair value of the security below its cost is considered to be objective evidence of impairment.

For financial assets carried at amortised cost, the amount of the impairment is the differences between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

Government grants

Government grants are recognised at the fair value of the consideration received or receivable in the period in which the Company recognises the related costs for which the grants are intended to compensate.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,658,604

1,623,103

Social security costs

147,283

132,216

Other pension costs

25,620

25,523

1,831,507

1,780,842

The average number of employees during the year was as follows:

2025

2024

Hotel staff

64

62

2025

2024

£

£

Directors' remuneration

-

-

4.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Intercompany interest

474,318

508,763

Leasing

38,533

33,215

512,851

541,978

5.	PROFIT BEFORE TAXATION

The profit before taxation is stated after charging/(crediting):

2025

2024

£

£

Cost of inventories recognised as expense

2,566,214

2,478,687

Depreciation - owned assets

271,708

204,578

Depreciation - assets on finance leases

772,505

671,988

Auditors' remuneration

8,419

10,330

Foreign exchange differences

(3,399

)

(199

)

6.

TAXATION

Analysis of tax income

2025

2024

£

£

Current tax:

Tax

-

(1,668

)

Deferred tax

(148,190

)

(2,517

)

Total tax income in income statement

(148,190

)

(4,185

)

Factors affecting the tax expense

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

Profit before income tax

35,175

535,754

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

8,794

133,939

Effects of:

Fixed asset timing differences

(12,026

)

(126,858

)

Tax losses not previously recognised

(145,674

)

(9,599

)

Prior year tax adjustments

-

(1,667

)

Use of b/fwd losses

(31,278

)

-

Loss on revaluation

31,994

-

Tax income

(148,190

)

(4,185

)

The company has used its taxable trading losses in the current year for group relief and was reimbursed for these and therefore a tax credit has been recognised.

7.	TANGIBLE FIXED ASSETS

Assets

Fixtures

under

Long

Plant and

and

construction

leasehold

machinery

fittings

Totals

£

£

£

£

£

COST OR VALUATION

At 1 July 2024

-

18,056,105

2,527,656

2,552,597

23,136,358

Additions

716,409

1,448,755

-

168,882

2,334,046

Revaluations

-

(797,188

)

-

-

(797,188

)

At 30 June 2025

716,409

18,707,672

2,527,656

2,721,479

24,673,216

DEPRECIATION

At 1 July 2024

-

3,996,553

2,526,048

1,906,402

8,429,003

Charge for year

-

849,255

975

193,983

1,044,213

At 30 June 2025

-

4,845,808

2,527,023

2,100,385

9,473,216

NET BOOK VALUE

At 30 June 2025

716,409

13,861,864

633

621,094

15,200,000

At 30 June 2024

-

14,059,552

1,608

646,195

14,707,355

The land and buildings were re-valued at the year end by Savills (UK) Limited, Chartered Surveyors, on an open market value basis and in accordance with RICS Appraisal and Valuation Standards.

8.

STOCKS

2025

2024

£

£

Stocks

49,857

50,835

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

540,736

720,459

Amounts owed by group undertakings

1,292,084

344,402

Other debtors

574,514

474,389

Deferred tax asset

557,453

301,052

Prepayments and accrued income

198,647

58,472

3,163,434

1,898,774

Deferred tax asset

2025

2024

£

£

Tax losses carried forward

557,453

411,779

Deferred tax

-

(110,727

)

557,453

301,052

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Leases (see note 12)

760,377

647,276

Trade creditors

374,473

294,437

Amounts owed to group undertakings

935,005

-

Social security and other taxes

37,072

32,132

VAT

102,017

348,605

Other creditors

892,775

654,656

Accruals and deferred income

684,889

718,689

3,786,608

2,695,795

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Leases (see note 12)

8,901,694

8,323,941

Amounts owed to group undertakings

5,194,128

5,287,604

14,095,822

13,611,545

The amounts owed to group undertakings relates to a shareholder loan between Glasshouse Hotel Limited and RW Greenside Place Street Limited. The loan has a term of 5 years from July 2021 and a fixed interest at a rate of 3.6% per annum.

12.

FINANCIAL LIABILITIES - BORROWINGS

2025

2024

£

£

Current:

Leases (see note 13)

760,377

647,276

Non-current:

Leases (see note 13)

8,901,694

8,323,941

Terms and debt repayment schedule

1 year or

More than

less

1-2 years

2-5 years

5 years

Totals

£

£

£

£

£

Leases

760,377

763,326

2,307,705

5,830,663

9,662,071