REGISTERED NUMBER: 01598311 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

FOR

SKI MIQUEL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R Johnson

REGISTERED OFFICE:

15 West Street

Brighton

East Sussex

BN1 2RL

REGISTERED NUMBER:

01598311 (England and Wales)

ACCOUNTANTS:

Galloways Accounting Limited

15 West Street

Brighton

East Sussex

BN1 2RL

FIXED ASSETS

Intangible assets

4

10,434

11,739

Tangible assets

5

3,904,538

3,392,325

Investments

6

827

827

3,915,799

3,404,891

CURRENT ASSETS

Debtors

7

1,743,982

1,527,998

Cash at bank and in hand

1,663,237

1,279,834

3,407,219

2,807,832

CREDITORS

Amounts falling due within one year

8

(2,703,970

)

(2,253,088

)

NET CURRENT ASSETS

703,249

554,744

TOTAL ASSETS LESS CURRENT LIABILITIES

4,619,048

3,959,635

CREDITORS

Amounts falling due after more than one year

9

(1,062,156

)

(1,167,138

)

PROVISIONS FOR LIABILITIES

11

(208,093

)

(110,932

)

NET ASSETS

3,348,799

2,681,565

CAPITAL AND RESERVES

Called up share capital

30,000

30,000

Fair value reserve

2,026,234

1,611,590

Retained earnings

1,292,565

1,039,975

3,348,799

2,681,565

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 16 September 2026 and were signed by:

R Johnson - Director

1.	STATUTORY INFORMATION

Ski Miquel 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about Ski Miquel Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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 consists of booking fees for various ski resorts throughout Europe.

Deposits are recognised as income when the entity meets its required service to a customer in accordance with the terms and conditions of the booking.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

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

Website costs

33% straight line

Fixtures and fittings

20% straight line

Motor vehicles

25% straight line

Computer equipment

33% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Freehold property

Freehold property is revalued annually on an open market basis. The surplus or deficit on revaluation is transferred to a fair value reserve. No depreciation is charged on this class of asset.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3.

EMPLOYEES

The average number of employees during the year was 7 (2025 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 March 2025

and 28 February 2026

13,043

AMORTISATION

At 1 March 2025

1,304

Charge for year

1,305

At 28 February 2026

2,609

NET BOOK VALUE

At 28 February 2026

10,434

At 28 February 2025

11,739

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Website

and

property

costs

fittings

£

£

£

COST OR VALUATION

At 1 March 2025

3,295,180

18,000

702,781

Additions

-

-

20,844

Revaluations

517,820

-

-

At 28 February 2026

3,813,000

18,000

723,625

DEPRECIATION

At 1 March 2025

-

18,000

611,443

Charge for year

-

-

34,907

At 28 February 2026

-

18,000

646,350

NET BOOK VALUE

At 28 February 2026

3,813,000

-

77,275

At 28 February 2025

3,295,180

-

91,338

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 1 March 2025

42,817

357,673

4,416,451

Additions

6,995

6,567

34,406

Revaluations

-

-

517,820

At 28 February 2026

49,812

364,240

4,968,677

DEPRECIATION

At 1 March 2025

42,418

352,265

1,024,126

Charge for year

1,419

3,687

40,013

At 28 February 2026

43,837

355,952

1,064,139

NET BOOK VALUE

At 28 February 2026

5,975

8,288

3,904,538

At 28 February 2025

399

5,408

3,392,325

Cost or valuation at 28 February 2026 is represented by:

Fixtures

Freehold

Website

and

property

costs

fittings

£

£

£

Valuation in 2026

2,216,055

-

-

Cost

1,596,945

18,000

723,625

3,813,000

18,000

723,625

Motor

Computer

vehicles

equipment

Totals

£

£

£

Valuation in 2026

-

-

2,216,055

Cost

49,812

364,240

2,752,622

49,812

364,240

4,968,677

Freehold property was valued on an open market basis on 28 February 2026 by the director .

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 March 2025

and 28 February 2026

827

NET BOOK VALUE

At 28 February 2026

827

At 28 February 2025

827

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

as

restated

£

£

Trade debtors

46,955

-

Amounts owed by group undertakings

79,126

56,555

Other debtors

1,617,901

1,471,443

1,743,982

1,527,998

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

as

restated

£

£

Bank loans and overdrafts

111,704

175,297

Trade creditors

299,443

357,794

Amounts owed to group undertakings

195,935

109,234

Taxation and social security

49,592

122,573

Other creditors

2,047,296

1,488,190

2,703,970

2,253,088

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

as

restated

£

£

Bank loans

1,062,156

1,167,138

2026

2025

as

restated

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

37,748

88,455

10.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

as

restated

£

£

Bank loans

1,173,860

1,342,435

The loans are secured by fixed and floating charges over the freehold property and other tangible assets..

11.	PROVISIONS FOR LIABILITIES

2026

2025

as

restated

£

£

Other provisions

208,093

110,932

Other

provisions

£

Balance at 1 March 2025

110,932

Provided during year

97,161

Balance at 28 February 2026

208,093

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2026 and 28 February 2025:

2026

2025

as

restated

£

£

R Johnson

Balance outstanding at start of year

40,494

(47,937

)

Amounts advanced

23,472

90,001

Amounts repaid

(5,931

)

(1,570

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

58,035

40,494

This balance represented the maximum amount outstanding during the year, is repayable on demand and accrues interest at HMRC's official rate.

13.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemptions of Financial Reporting Standard 102 section 33.1A from disclosing transactions with fellow wholly owned group companies.

Companies under common control

Amounts due by related parties

Amounts due to related parties

£

£

Opening balance

709,838

(5,600)

Amounts advanced

715,537

(-)

Amounts repaid

(648,191)

5,600

Closing balance

777,183

(-)

These balances are included in debtors and creditors respectively.