REGISTERED NUMBER: 06481221 (England and Wales)

ALL SAINTS HOTELS LIMITED

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

to

6

Income Statement

7

Other Comprehensive Income

8

Statement of Financial Position

9

Statement of Changes in Equity

10

Statement of Cash Flows

11

Notes to the Statement of Cash Flows

12

Notes to the Financial Statements

13

to

24

DIRECTORS:

M J Thurlby

Mrs S L Thurlby

REGISTERED OFFICE:

The Crown Hotel

6 All Saints Place

Stamford

Lincolnshire

PE9 2AG

REGISTERED NUMBER:

06481221 (England and Wales)

AUDITORS:

Duncan & Toplis Audit Limited, Statutory Auditor

14 All Saints Street

Stamford

Lincolnshire

PE9 2PA

The directors present their strategic report for the year ended 31 December 2025.

REVIEW OF BUSINESS

The directors aim to present a balanced and comprehensive review of the development and performance of the business during the year and its position at the year end. The review is consistent with the size and the non-complex nature of the business and is written in the context of the risks and uncertainties faced. The directors consider the key performance and business performance indicators as being those that represent the financial performance and strength of the company as a whole. These are viewed as being revenue, gross profit and net profit.

The results for the year and financial position of the company are as shown in the annexed financial statements:

2025

2024

Change

£'000

£'000

%

Revenue

6,424

4,952

29.7%

Gross profit

4,647

3,573

30.0%

Gross profit percentage

72.3%

72.2%

0.1%

Net profit before taxation and exceptionals

676

313

116.0%

Net profit before taxation / sales percentage

10.5%

6.3%

4.2%

The Crown Hotel, Paten & Co and The Tobie Norris maintain prime positions in the town of Stamford and uphold strong reputations. The company has a strong asset base which will enable investment as opportunities arise.

PRINCIPAL RISKS AND UNCERTAINTIES

The main risks arising from the company's activities are liquidity risk and interest rate risk.

Liquidity risk

The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. Short term flexibility can be achieved by overdraft facilities.

Interest rate risk

The company finances its operations through bank borrowings. The company's exposure to interest rate fluctuations on its borrowings is managed by the use of both fixed and variable rate facilities.

ON BEHALF OF THE BOARD:

M J Thurlby - Director

18 September 2026

The directors present their report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITIES

The principal activities of the company in the year under review were those of running public houses and a hotel.

DIVIDENDS

On 9 July 2025 an interim dividend of £218.33 per Ordinary share (totalling £131,000) was paid. The directors recommend that no final dividend be paid.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

M J Thurlby

Mrs S L Thurlby

DIRECTORS' RESPONSIBILITIES STATEMENT

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.

ON BEHALF OF THE BOARD:

M J Thurlby - Director

18 September 2026

Opinion

We have audited the financial statements of All Saints Hotels Limited (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (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 31 December 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

In our opinion, based on the work undertaken in the course of the audit:

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

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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 Strategic Report or 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 Directors' Responsibilities Statement 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:

We have identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial experience, knowledge of the sector, a review of regulatory and legal correspondence and through discussions with the director and other management obtained as part of the work required by auditing standards. We have also discussed with the director and other management the policies and procedures relating to compliance with laws and regulations. We communicated laws and regulations throughout the team and remained alert to any indications of non-compliance throughout the audit. The potential impact of different laws and regulations varies considerably.

Firstly, the company is subject to laws and regulations that directly impact the financial statements (for example financial reporting legislation) and we have assessed the extent of compliance with such laws as part of our financial statements audit. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates as well as the risk of inappropriate journal entries to increase reported profitability. Audit procedures performed by the engagement team included the identification and testing of unusual material journal entries and challenging management on key estimates, assumptions and judgements made in the preparation of the financial statements. We carried out substantive tests on accounting estimates, including reviewing the methods and data used by management to make those estimates, reperforming the calculation and reviewing the outcome of current year estimates since the financial reporting date.

Secondly, the company is subject to other laws and regulations where the consequence for non-compliance could have a material effect on the amounts or disclosures in the financial statements. We identified the following areas as those most likely to have such an effect: Alcohol licensing, food hygiene standards and employment law. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the director and other management and inspection. Through these procedures, if we became aware of any non-compliance, we considered the impact on the procedures performed on the related financial statements items.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. As with any audit, there is a greater risk of non-detection of irregularities as these may involve collusion, international omissions of the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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.

Sally-Anne Hurn FCA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

14 All Saints Street

Stamford

Lincolnshire

PE9 2PA

18 September 2026

REVENUE

3

6,423,768

4,952,433

Cost of sales

1,777,260

1,379,064

GROSS PROFIT

4,646,508

3,573,369

Administrative expenses

3,851,577

3,110,775

794,931

462,594

Other operating income

4

43,787

45,202

OPERATING PROFIT

6

838,718

507,796

Distribution in specie received

7

-

5,745,462

838,718

6,253,258

Interest receivable and similar income

13,330

2,084

852,048

6,255,342

Interest payable and similar expenses

8

176,476

197,053

PROFIT BEFORE TAXATION

675,572

6,058,289

Tax on profit

9

170,071

87,450

PROFIT FOR THE FINANCIAL YEAR

505,501

5,970,839

PROFIT FOR THE YEAR

505,501

5,970,839

OTHER COMPREHENSIVE INCOME

Revaluation of freehold property

40,866

2,509,683

Income tax relating to other comprehensive income

(10,217

)

(149,476

)

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

30,649

2,360,207

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

536,150

8,331,046

FIXED ASSETS

Tangible assets

11

10,706,906

10,192,463

Investments

12

-

101

Investment property

13

2,446,662

2,437,185

13,153,568

12,629,749

CURRENT ASSETS

Stocks

14

75,135

82,859

Debtors

15

243,970

503,964

Cash at bank and in hand

880,805

485,577

1,199,910

1,072,400

CREDITORS

Amounts falling due within one year

16

1,470,400

1,204,624

NET CURRENT LIABILITIES

(270,490

)

(132,224

)

TOTAL ASSETS LESS CURRENT LIABILITIES

12,883,078

12,497,525

CREDITORS

Amounts falling due after more than one year

17

(2,149,504

)

(2,164,247

)

PROVISIONS FOR LIABILITIES

22

(446,553

)

(451,407

)

NET ASSETS

10,287,021

9,881,871

CAPITAL AND RESERVES

Called up share capital

23

600

600

Revaluation reserve

24

1,884,469

1,853,820

Capital redemption reserve

24

500

500

Retained earnings

24

8,401,452

8,026,951

SHAREHOLDERS' FUNDS

10,287,021

9,881,871

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2026 and were signed on its behalf by:

M J Thurlby - Director

Called up

Capital

share

Retained

Revaluation

redemption

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 January 2024

500

1,549,725

-

500

1,550,725

Changes in equity

Issue of share capital

100

-

-

-

100

Total comprehensive income

-

5,970,839

2,360,207

-

8,331,046

Transfer (1)

-

1,015,421

(1,015,421

)

-

-

Transfer (2)

-

(509,034

)

509,034

-

-

Balance at 31 December 2024

600

8,026,951

1,853,820

500

9,881,871

Changes in equity

Dividends

-

(131,000

)

-

-

(131,000

)

Total comprehensive income

-

505,501

30,649

-

536,150

Balance at 31 December 2025

600

8,401,452

1,884,469

500

10,287,021

Cash flows from operating activities

Cash generated from operations

1

1,093,876

898,078

Interest paid

(176,476

)

(197,053

)

Tax paid

(104,268

)

(54,691

)

Net cash from operating activities

813,132

646,334

Cash flows from investing activities

Purchase of tangible fixed assets

(641,143

)

(296,900

)

Purchase of fixed asset investments

-

(100

)

Purchase of investment property

(9,477

)

(4,252

)

Cash acquired from investment addition

-

179,460

Interest received

13,330

2,084

Net cash from investing activities

(637,290

)

(119,708

)

Cash flows from financing activities

New loans advanced

252,500

-

Capital loan repayments

(210,720

)

(195,616

)

Amount introduced by directors

735,129

-

Amount withdrawn by directors

(426,523

)

(48,917

)

Equity dividends paid

(131,000

)

-

Net cash from financing activities

219,386

(244,533

)

Increase in cash and cash equivalents

395,228

282,093

Cash and cash equivalents at beginning of year

2

485,577

203,484

Cash and cash equivalents at end of year

2

880,805

485,577

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

675,572

6,058,289

Depreciation charges

134,873

136,058

Loss on disposal of fixed assets

32,693

-

Distribution in specie received

-

(5,745,462

)

Finance costs

176,476

197,053

Finance income

(13,330

)

(2,084

)

1,006,284

643,854

Decrease/(increase) in stocks

7,724

(13,406

)

(Increase)/decrease in trade and other debtors

(48,612

)

98,480

Increase in trade and other creditors

128,480

169,150

Cash generated from operations

1,093,876

898,078

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2025

31.12.25

1.1.25

£

£

Cash and cash equivalents

880,805

485,577

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

485,577

203,484

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank and in hand

485,577

395,228

880,805

485,577

395,228

880,805

Debt

Debts falling due within 1 year

(200,697

)

(56,523

)

(257,220

)

Debts falling due after 1 year

(2,164,247

)

14,743

(2,149,504

)

(2,364,944

)

(41,780

)

(2,406,724

)

Total

(1,879,367

)

353,448

(1,525,919

)

1.	STATUTORY INFORMATION

All Saints 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.

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" and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

Consolidated financial statements

These financial statements contain information about All Saints Hotels Limited as an individual company only and do not contain consolidated information as the parent of a group. The company has taken advantage of the exemption under section 402 of the Companies Act 2006 not to prepare consolided financial statements due to its subsidiaries being excluded on the grounds of immateriality.

Going concern

At the financial reporting date the company had net current liabilities however the directors consider the financial statements should be prepared on a going concern basis because:

-

In their opinion, the company's bankers will continue to support the company for the foreseeable future.

-

In their opinion, the company will continue to achieve profitability in future periods.

Revenue

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

Food and drink revenue is recgonised at the point of sale. Accomodation and room hire income is recognised over the period in which services were provided.

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 leasehold property

-

Straight line over the term of the lease

Fixtures, fittings and equipment

-

25% on reducing balance and 20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

The company has adopted a policy of revaluing freehold property. The revalued amounts equate to the fair value at the date of the revaluation, less any depreciation or impairment losses subsequently accumulated. Revaluations are carried out regularly so the carrying amounts do not materially differ from using the fair value at the statement of financial position date. Any revaluation increase or decrease on freehold property is recognised through other comprehensive income in the revaluation reserve. The directors are of the opinion that the residual value of the freehold property is such that depreciation would not be material.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Inventories

Inventories are stated at the lower of cost and fair value less costs to complete and sell, after making due allowances for obsolete and slow moving items. Stocks are accounted for on a first-in-first-out basis.

Financial instruments

The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, 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.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.

Such assets are subsequently carried at fair value and the changes in fair value are recognised in the income statement, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another part or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities, including trade and other creditors and bank loans that are classified as debt, 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 receipts discounted at a market rate of interest.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, management are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There are few critical accounting judgements or estimation uncertainty that, in the opinion of the directors, will have a material effect on the financial statements. The only estimate of significance is deemed to be the fair value of properties.

Properties (within both property, plant and equipment and investment properties) are stated at fair value based on the valuations performed by the directors, utilising either externally qualified experts or available market data. The valuers use observable market prices adjusted as necessary for any differences in the future, location or condition of the specific asset. The directors are of the opinion that, based on available market evidence, all valuations presented are materially appropriate.

3.

REVENUE

The revenue and profit before taxation are attributable to the principal activities of the company.

An analysis of revenue by class of business is given below:

2025

2024

£

£

The Crown Hotel

3,421,147

3,264,544

Paten & Co

1,255,173

1,149,398

The Tobie Norris

1,747,448

538,491

6,423,768

4,952,433

4.	OTHER OPERATING INCOME

2025

2024

£

£

Rents received

43,787

44,702

Sundry receipts

-

500

43,787

45,202

5.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,266,235

1,589,226

Social security costs

207,786

124,442

Other pension costs

40,454

29,625

2,514,475

1,743,293

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

2025

2024

Head office

6

2

Direct

100

81

106

83

2025

2024

£

£

Directors' remuneration

60,450

6,000

Directors' pension contributions to money purchase schemes

1,149

133

Key management personnel remuneration is considered to be the same as directors' remuneration.

6.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Hire of plant and machinery

-

1,000

Depreciation - owned assets

134,873

136,058

Loss on disposal of fixed assets

32,693

-

Auditors' remuneration

12,000

10,835

7.	EXCEPTIONAL ITEMS

2025

2024

£

£

Distribution in specie received

-

5,745,462

On 1 October 2024 the company acquired 100 Ordinary shares of £1 each (representing 100% of the share capital) of Knead Group Ltd now T/as All Saints Hotels Ltd, a company under the common control of the ultimate controlling party. In exchange, 100 further Ordinary shares of £1 each were issued by All Saints Hotels Limited to the ultimate controlling party, taking the total issued share capital of the company to 600 Ordinary shares of £1 each. The net assets of Knead Group Ltd now T/as All Saints Hotels Ltd were transferred to All Saints Hotels Limited by an interim distribution in specie.

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank loan interest

176,476

196,917

VAT interest

-

136

176,476

197,053

9.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

185,108

66,804

Adjustment for previous years

34

-

Total current tax

185,142

66,804

Deferred tax

(15,071

)

20,646

Tax on profit

170,071

87,450