ACCOUNTS - Final Accounts

Other operating income

Year ended 25 January

18 month period
ended 26 January

Registered number: 06463501

MCMANUS HOLDINGS LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 JANUARY 2026

MCMANUS HOLDINGS LIMITED

CONTENTS

	Page
Company Information	1
Strategic Report	2
Directors' Report	3 - 4
Independent Auditor's Report	5 - 8
Statement of Income and Retained Earnings	9
Balance Sheet	10
Notes to the Financial Statements	11 - 22

MCMANUS HOLDINGS LIMITED

COMPANY INFORMATION

Directors	G M McManus
	P M McManus


Registered number	06463501


Registered office	Barratts Club
	Kingsthorpe Road
	Northampton
	Northamptonshire
	NN2 6HT


Independent auditor	MHA
	The Pinnacle
	150 Midsummer Boulevard
	Milton Keynes
	Buckinghamshire
	MK9 1LZ

Page 1

MCMANUS HOLDINGS LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 25 JANUARY 2026

Introduction

The Directors present their Strategic Report and the financial statements for the year ended 25 January 2026.

During the prior period, the Company changed its financial reporting date of the entity from 31 July 2024 to 26 January 2025 in order to better reflect the trading results of the Company and its ultimate group. As a result, the comparative figures represent an 18 month period and are therefore not directly comparable with the current year.

Business review

The Company’s principal activity during the year continued to be an intermediate holding company for its subsidiaries that are managing the operation of licensed managed public houses. At the end of the financial year, the subsidiaries of the Company operated seventeen licensed public houses.

The operating loss for the year was £496k (2025: £746k for 18 months). Interest payable decreased to £353k from £738k for the 18 month comparative period. As at 25 January 2026 due to bank base rate movements the swap was recognised at a fair value of £279k which represents a loss of £122k on prior year mark to market valuation.

Principal risks and uncertainties

The Company's subsidiaries face risks associated with managing companies that are dealing with inflation in payroll, energy, and other operating costs, as well as potential volatility in consumer spending.

Liquidity and covenant compliance remain key risks, with debt subject to cross guarantees across the subsidiary companies. These risks are mitigated through active cost management, selective disposals, and ongoing dialogue with banking partners.

Financial key performance indicators

The Company moved from net assets of £755k at 26 January 2025, to net liabilities of £100k at 25 January 2026, reflecting the loss for the year.

This report was approved by the board and signed on its behalf.

G M McManus

Director

Date: 27 October 2026

Page 2

MCMANUS HOLDINGS LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 25 JANUARY 2026

The directors present their report and the financial statements for the year ended 25 January 2026.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements 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 to 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.

Results and dividends

The loss for the year, after taxation, amounted to £855,492 (2025: loss £1,471,391).

No dividends were paid during the year (2025: £nil).

Directors

The directors who served during the year were:

G M McManus

P M McManus
C Wright (resigned 21 February 2025)

Future developments

Trading conditions are expected to remain challenging. The Company will continue to focus on strengthening gross margins and managing operating costs. The portfolio of the licensed public houses will continue to be reviewed, with further disposal and acquisition opportunities considered where appropriate, to strengthen the balance sheet and support ongoing covenant compliance.

Page 3

MCMANUS HOLDINGS LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 25 JANUARY 2026

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditor

The auditor, MHA, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

G M McManus

Director

Date: 27 October 2026

Page 4

MCMANUS HOLDINGS LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MCMANUS HOLDINGS LIMITED

Opinion

We have audited the financial statements of McManus Holdings Limited (the 'Company') for the year ended 25 January 2026, which comprise the Statement of Income and Retained Earnings, the Balance Sheet and the related notes, 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 25 January 2026 and of its loss 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 Auditor's 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 United Kingdom, including the Financial Reporting Council'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.

Page 5

MCMANUS HOLDINGS LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MCMANUS HOLDINGS LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.

Opinion 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

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 Directors' Report.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which 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 3, 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 is 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.

Page 6

MCMANUS HOLDINGS LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MCMANUS HOLDINGS LIMITED (CONTINUED)

Auditor's 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 an Auditor's Report 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

• Enquiry of management around actual and potential litigation and claims;

• Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias;

• Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 Auditor's Report.

Page 7

MCMANUS HOLDINGS LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MCMANUS HOLDINGS LIMITED (CONTINUED)

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 an Auditor's Report 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.

Martin Herron BA (Hons) FCA (Senior Statutory Auditor)

for and on behalf of

MHA
Statutory Auditor

Milton Keynes, United Kingdom

Date:

MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542).29 October 2026

Page 8

MCMANUS HOLDINGS LIMITED

STATEMENT OF INCOME AND RETAINED EARNINGS

FOR THE YEAR ENDED 25 JANUARY 2026

	Year ended 25 January	18 month period ended 26 January
	2026	2025
Note	£	£


Administrative expenses		(511,172)	(768,528)
Other operating income	4	15,000	22,222
Operating loss		(496,172)	(746,306)
Loss from fair value movements in interest rate swap	7	(122,513)	(261,351)
Interest receivable	8	116,374	274,033
Interest payable and similar expenses	9	(353,181)	(737,767)
Loss before tax		(855,492)	(1,471,391)
Tax on loss	10	-	-
Loss after tax		(855,492)	(1,471,391)


Retained earnings at the beginning of the year/period	(838,062)	633,329
Loss for the year	(855,492)	(1,471,391)
Retained earnings at the end of the year/period	(1,693,554)	(838,062)

There were no recognised gains and losses for 2026 or 2025 other than those included in the statement of income and retained earnings.

The notes on pages 11 to 22 form part of these financial statements.

Page 9

MCMANUS HOLDINGS LIMITED

REGISTERED NUMBER: 06463501

BALANCE SHEET

AS AT 25 JANUARY 2026

		2026		2025
Note		£		£

Fixed assets
Investments	11		2,332,000		2,332,000
			2,332,000		2,332,000
Current assets
Debtors: amounts falling due within one year	12	6,554,244		7,569,816
Current asset investments	13	278,625		401,138
Cash at bank and in hand	14	20,525		-
		6,853,394		7,970,954
Creditors: amounts falling due within one year	15	(4,780,722)		(4,821,443)
Net current assets			2,072,672		3,149,511
Total assets less current liabilities			4,404,672		5,481,511
Creditors: amounts falling due after more than one year	16		(4,504,876)		(4,726,223)

Net (liabilities)/assets			(100,204)		755,288

Capital and reserves
Called up share capital	18	1,593,340	1,593,340
Share premium account	19	10	10
Profit and loss account	19	(1,693,554)	(838,062)
		(100,204)	755,288

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

G M McManus

Director

Date: 27 October 2026

The notes on pages 11 to 22 form part of these financial statements.

Page 10

MCMANUS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 JANUARY 2026

1.	General information

McManus Holdings Limited is a private company limited by shares, registered in England and Wales, registered number 06463501. The registered office and principal place of business is Barratts Club, Kingsthorpe Road, Northampton, Northamptonshire, NN2 6HT.

The principal activity of the Company is to hold the investment in the two trading companies and provide management services to those entities.

The financial statements are presented in pounds sterling which is also the functional currency of the Company, rounded to the nearest £1.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).

This information is included in the consolidated financial statements of McManus Pub Group Limited as at 25 January 2026 and these financial statements may be obtained from Companies House.

2.3

Exemption from preparing consolidated financial statements

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.

Page 11

MCMANUS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 JANUARY 2026

2.Accounting policies (continued)

2.4

Going concern

The financial statements have been prepared on a going concern basis. At the balance sheet date, the Company had net liabilities of £100k. The Company is a holding company, and in assessing going concern, the Directors have considered the financial position and forecast future cash flows of both the Company and its subsidiary undertakings, including the ability of the subsidiary undertakings to make distributions and otherwise provide financial resource to the Company as required.

Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and accounts.

2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 12

MCMANUS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 JANUARY 2026

2.Accounting policies (continued)

2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.14

Financial instruments

The Company has chosen to apply the recognition and measurement provisions of Sections 11 and 12 of FRS 102 to accounts for its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due within the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Page 13

MCMANUS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 JANUARY 2026

2.Accounting policies (continued)

2.14

Financial instruments (continued)

Impairment of financial assets

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.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic 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 Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Page 14

MCMANUS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 JANUARY 2026

2.Accounting policies (continued)

2.14

Financial instruments (continued)

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flows expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values 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 revision and future periods if the revision affects both current and future periods.

Key judgements and estimates are:

Carrying value of investments: the directors have exercised judgement in determining the carrying value of the Company’s investments, assessing the recoverable amounts with reference to the financial performance and position of the underlying entities.

	Management charges receivable	15,000	22,222

Page 15

MCMANUS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 JANUARY 2026

5.	Auditor's remuneration
	Auditor's remuneration is charged to the subsidiary undertakings, McManus Managed Pub Co. Limited and McManus Pub Co. Limited. In 2026, this amounted to £28,500 (2025 - £23,000). The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.

Wages and salaries	418,659	609,916
Social security costs	49,837	69,048
Cost of defined contribution scheme	9,401	31,449
	477,897	710,413

Directors' remuneration is borne by McManus Managed Pub Co. Limited. There are no other Key Management Personnel other than the Directors.

The average monthly number of employees, including the directors, during the year was as follows:

	Year ended 25 January	18 month period ended 26 January
	2026	2025
	No.	No.

Staff	11	15

Page 16

MCMANUS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 JANUARY 2026

	Fair value movements on interest rate swap	122,513	261,351

Interest receivable from interest rate swap

116,374

274,033

Bank interest payable

353,181

737,767

Page 17

MCMANUS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 JANUARY 2026

10.	Taxation
	Given the losses within McManus Holdings Limited there has not been a tax charge for the year (2025 - £Nil).

Loss on ordinary activities before tax

(855,492)

(1,471,391)

Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2025 - 25%)	(213,873)	(367,848)
Effects of:
Group relief	213,873	367,848
Total tax charge for the year/period	-	-

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

11.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost
	At 26 January 2025	2,332,000
	At 25 January 2026	2,332,000

Page 18

MCMANUS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 JANUARY 2026

Subsidiary undertakings
The following were subsidiary undertakings of the Company:
Name	Registered office	Class of shares	Holding

	McManus Pub Co. Limited	Barratts Club, Kingsthorpe Road, Northampton, Northamptonshire, NN2 6HT	Ordinary	100%
	McManus Managed Pub Co. Limited	Barratts Club, Kingsthorpe Road, Northampton, Northamptonshire, NN2 6HT	Ordinary A & B	100%

12.

Debtors

					2026	2025
					£	£


Amounts owed by group undertakings	6,232,165	7,336,761
Other debtors	300,886	198,546
Prepayments and accrued income	21,193	34,509
	6,554,244	7,569,816

13.	Current asset investments
		2026	2025
		£	£

	Fair value of interest rate swap	278,625	401,138

14.	Cash and cash equivalents
		2026	2025
		£	£

Cash at bank and in hand	20,525	-
Less: bank overdrafts	-	(1,017)
	20,525	(1,017)

Page 19

MCMANUS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 JANUARY 2026

15.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Bank overdrafts	-	1,017
Bank loans	668,407	642,137
Trade creditors	1,250	6,619
Amounts owed to group undertakings	3,500,000	3,500,000
Other creditors	611,065	590,128
Accruals and deferred income	-	81,542
	4,780,722	4,821,443

HSBC and RCF Facility
A cross guarantee exists on the assets of McManus Pub Group Limited, McManus Holdings Limited, McManus Pub Co. Limited and McManus Managed Pub Co. Limited. The total liability outstanding as at 25 January 2026 was £3,898,170 (2025: £4,317,494).

The total liability outstanding for HSBC RCF Facility as at 25 January 2026 was £688,949 (2025: £758,898).

The bank loans and overdraft are secured by fixed and floating charges over all freehold and leasehold properties included within the fixed assets of the group companies.

16.	Creditors: Amounts falling due after more than one year
		2026	2025
		£	£

	Bank loans	4,504,876	4,726,223

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MCMANUS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 JANUARY 2026

Amounts falling due within one year
Bank loans	668,407	642,137
Amounts falling due 1-2 years
Bank loans	709,248	681,078
Amounts falling due 2-5 years
Bank loans	2,197,424	2,186,069
Amounts falling due after more than 5 years
Bank loans	1,598,204	1,859,076
	5,173,283	5,368,360

18.	Share capital
		2026	2025
		£	£

Allotted, called up and fully paid

1,593,340 (2025: 1,593,340) Ordinary shares of £1.00 each	1,593,340	1,593,340

19.

Reserves

Share premium account

Share premium relates to the difference between the consideration received on the issue of new shares and the nominal value of the shares issued, less any amounts capitalised.

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses.

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MCMANUS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 JANUARY 2026

Not later than 1 year	15,000	3,750
Later than 1 year and not later than 5 years	60,000	-
Later than 5 years	138,750	-
	213,750	3,750

The lease expense for the period was £15,000 (2025: £22,500).

21.

Related party transactions

As at the period end the Company was owed £266,760 (2025: £186,749) by entities with common control. This balance is included within other debtors.

As at the period end the Company owed £595,128 (2025: £590,128) to entities with common control. This balance is included in other creditors.

Monies due to or from entities with common control are unsecured, to be settled in cash, due on demand and do not bear interest.

During the period the Company was charged rentals of £15,000 (2025 - £15,000) and made purchases of £Nil (2025: £3,072) from entities with common control.

During the period, the Company made sales of £80,101 (2025: £3,201) to entities with common control.

22.	Controlling party

The ultimate controlling company is McManus Pub Group Limited by virtue of its 100% shareholding in McManus Holdings Limited.

McManus Pub Group Limited is both the smallest and largest group of undertakings for which group accounts are drawn up.

The ultimate controlling party is G McManus, by virtue of his 65% shareholding in McManus Pub Group Limited.

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