Company No: 08190553 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

A Dellal

REGISTERED OFFICE	22 Chancery Lane
	London
	WC2A 1LS
	United Kingdom

COMPANY NUMBER

08190553 (England and Wales)

	Note	2025		2024
		£		£
Fixed assets
Investments	3	1		1
		1		1
Current assets
Debtors	4	2,765,789		2,622,514
		2,765,789		2,622,514
Creditors: amounts falling due within one year	5	( 5,553,565)		( 5,546,681)
Net current liabilities		(2,787,776)		(2,924,167)
Total assets less current liabilities		(2,787,775)		(2,924,166)
Net liabilities		( 2,787,775)		( 2,924,166)
Capital and reserves
Called-up share capital		100,000		100,000
Profit and loss account		( 2,887,775 )		( 3,024,166 )
Total shareholder's deficit		( 2,787,775)		( 2,924,166)

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Otis Hotels Limited (registered number: 08190553) were approved and authorised for issue by the Director on 07 September 2026. They were signed on its behalf by:

A Dellal Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Otis Hotels Limited (the company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 22 Chancery Lane, London, WC2A 1LS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The balance sheet on page 4 to the accounts shows net liabilities of £2,787,775 (2024 - £(2,924,166)) this includes an amount of £5,456,762 (net of provision of £2,728,381) (2024 - £5,170,212) (2024: net of provision of £2,585,106) due from Otis Hotels S.a.r.l., a related party in which the company has a 79% interest, which may not be readily realisable to settle the company’s liabilities.

The company has received a letter of support from Allied Commercial Exporters Limited to confirm the loan of £5,106,027 will not be recalled for at least 12 months from the date of approval of these financial statements, if repayment of these amounts would result in the company being unable to meet its obligations. They have also committed to provide any further financing required. This should enable the company to continue to meet all its obligations in the foreseeable future.

Accordingly, the director is satisfied that it is appropriate to prepare the accounts on a going concern basis.

Group accounts exemption

Group accounts exemption s399
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets is reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Fixed asset investments

Investments in subsidiaries and joint ventures are measured at cost less accumulated impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year	0		0

3. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 January 2025	9,165
At 31 December 2025	9,165
Provisions for impairment
At 01 January 2025	9,164
At 31 December 2025	9,164
Carrying value at 31 December 2025	1
Carrying value at 31 December 2024	1

4. Debtors

	2025		2024
	£		£
Amounts owed by group undertakings (note 6)	2,728,381		2,585,106
Other debtors	37,408		37,408
	2,765,789		2,622,514

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Amounts owed to related parties (note 6)	5,106,027		5,088,248
Accruals	2,394		13,289
Other creditors	445,144		445,144
	5,553,565		5,546,681

6. Related party transactions

At 31 December 2025, Alexander Dellal, the director, owed the company £37,408 (2024 - £37,408) in relation to amounts due on share issues. This balance is interest free and there are no set terms of repayment.

The company has a 79% interest in Otis Hotels S.à.r.l., a company incorporated in Luxembourg. During the year, the company made advances to Otis Hotels S.à.r.l. and paid expenses on behalf of Otis Hotels S.à.r.l. with a combined value of £14,340 (2024 - £19,490). Furthermore, Otis Hotels Limited recognised a further provision of £143,273 (2024 reversal of provision – £110,034) against the loan due from Otis Hotels S.à.r.l. during the year. After taking into account exchange gains of £272,208 (2024 - losses of £239,560) a balance of £2,728,381 (net of a 50% provision) was due from Otis Hotels S.à.r.l. to the company at 31 December 2025 (2024 - £2,585,106). This balance is interest free and there are no set terms of repayment.

At 31 December 2025, the company owed £5,106,027 (2024 - £5,088,248) to Allied Commercial Exporters Limited, a company incorporated in the United Kingdom and related to Otis Hotels Limited by virtue of the common directorship of Alexander Dellal. This amount is interest free and there are no set terms of repayment. The movement during the year relates to costs of the company with a value of £17,779 (2024 - £22,626) being paid by Allied Commercial Exporters Limited during the year.