Limited Liability Partnership registration number OC454529 (England and Wales)
GLASGOW 1 HOTEL LLP
FINANCIAL STATEMENTS
for the year ended
31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
GLASGOW 1 HOTEL LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
GLASGOW 1 HOTEL LLP
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
Notes
£
£
Fixed assets
Investments
3
808,644
Current assets
Debtors
4
83
Cash at bank and in hand
17,758
17,841
Creditors: amounts falling due within one year
5
(1,750)
Net current assets
16,091
Total assets less current liabilities and net assets attributable to members
824,735
Represented by:
Loans and other debts due to members within one year
Members' capital classified as a liability
840,000
Other amounts
(15,265)
824,735
TOTAL MEMBERS' INTERESTS
Loans and other debts due to members
824,735

For the financial year ended 31 December 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

T he members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

The financial statements were approved by the members and authorised for issue on 5 June 2026 and are signed on their behalf by:
05 June 2026
Oberland LLP
Swiss Finance & Property Group AG
Designated member
Designated Member
Glencairn Group Limited
Swiss Finance and Property UK Ltd
Designated Member
Designated Member
Limited Liability Partnership registration number OC454529 (England and Wales)
GLASGOW 1 HOTEL LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
1
Accounting policies
Limited liability partnership information

Glasgow 1 Hotel LLP is a limited liability partnership incorporated in England and Wales. The registered office is 1 Cork Street Mews, 3rd Floor, London, W1S 3BL.

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Basis of preparation

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in May 2024, together 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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the m embers' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. M ember s' participation rights, including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits or movements in the liability to non-working members in respect of future profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant period’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

Where there exists an asset and liability component in respect of an individual member’s participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented ne t.

Profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment and the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense and presented as members remuneration charged as an expense in arriving at the result for the relevant year. To the extent that they remain unpaid at the period end, they are shown as liabilities.

GLASGOW 1 HOTEL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 3 -

Whilst the members’ agreement does not differentiate between profits and losses for profit sharing purposes, it does stipulate that the LLP cannot demand additional contributions from members, and as a result the LLP does not have an unconditional right to demand payment from members for losses. Therefore, to the extent that losses exceed the balance on capital and current accounts, they are not recognised as a recoverable asset and so remain within equity until such time as [ profits are generated to set them against.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and a ny impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Entities in which the limited liability partnership has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
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.

1.5
Financial instruments

The limited liability partnership 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 limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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.

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 a residual interest in the assets of the limited liability partnership after deducting all of its liabilities.

GLASGOW 1 HOTEL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, 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.

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

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.

2
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2025
Number
Total
0
3
Fixed asset investments
2025
£
Shares in group undertakings and participating interests
808,644
Movements in fixed asset investments
Shares in joint ventures
£
Cost or valuation
At 15 November 2024
-
Additions
808,644
At 31 December 2025
808,644
Carrying amount
At 31 December 2025
808,644
4
Debtors
2025
Amounts falling due within one year:
£
Other debtors
83
GLASGOW 1 HOTEL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -
5
Creditors: amounts falling due within one year
2025
£
Other creditors
1,750
6
Related party transactions

During the year, the Company received fees of £160,400 (2025: £nil) from its joint venture, Arthouse Glasgow Propco Limited, in respect of services provided, with all transactions conducted on an arm’s length basis.

2025-12-31 2024-11-15 false false 05 June 2026 CCH Software CCH Accounts Production 2026.200 false OC454529 2024-11-15 2025-12-31 OC454529 2025-12-31 OC454529 bus:PartnerLLP1 2024-11-15 2025-12-31 OC454529 bus:PartnerLLP2 2024-11-15 2025-12-31 OC454529 bus:PartnerLLP3 2024-11-15 2025-12-31 OC454529 bus:PartnerLLP4 2024-11-15 2025-12-31 OC454529 bus:LimitedLiabilityPartnershipLLP 2024-11-15 2025-12-31 OC454529 bus:SmallCompaniesRegimeForAccounts 2024-11-15 2025-12-31 OC454529 bus:FRS102 2024-11-15 2025-12-31 OC454529 bus:AuditExemptWithAccountantsReport 2024-11-15 2025-12-31 OC454529 bus:FullAccounts 2024-11-15 2025-12-31 xbrli:pure xbrli:shares