REGISTERED NUMBER: 02513040 (England and Wales)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 28th February 2025

for

Degiorgio Holdings Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Consolidated Income Statement

9

Consolidated Other Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Cash Flow Statement

15

Notes to the Consolidated Cash Flow Statement

16

Notes to the Consolidated Financial Statements

17

DIRECTORS:

S Degiorgio

F Degiorgio

S Degiorgio

REGISTERED OFFICE:

King Charles Hotel

Brompton Road

Gillingham

Kent

ME7 5QT

REGISTERED NUMBER:

02513040 (England and Wales)

AUDITORS:

Beak Kemmenoe

Chartered Accountants

& Statutory Auditors

1-3 Manor Road

Chatham

Kent

ME4 6AE

The directors present their strategic report of the company and the group for the year ended 28th February 2025.

REVIEW OF BUSINESS

During the year the group has continued to operate as per the prior financial year. there have been no major changes to the group structure and it continues to run two hotels; the King Charles Hotel and the Inn On The Lake.

Key performance indicators

The group's key financial indicators during the year were as follows:

2025

2024

% Variance

Turnover

£4,281,002

£4,121,358

3.9

Profit before tax

£518,046

£782,450

(33.8)

Shareholders Funds

£23,529,963

£23,240,818

1.2

The group has continued to utalise various advertising streams to promote both hotels and facilities available such as weddings, conferences and venue hire. They have also continued to invest in improvements to the hotels to attract new and retain current customers. The group holds substantial reserves therefore there are no concerns over the ability of the group to meet its liabilities as and when they fall due.

PRINCIPAL RISKS AND UNCERTAINTIES

Impairment risk

One of the company's activities is that of an investment holding company. As such a risk and uncertainty facing the company relates to the recoverability of the value of its investments. the company monitors the fair value of all underlying assets to determine whether there are indicators that the carrying values of investments are not recoverable.

Competitive risk

The group operates in the UK. Risks that arise come from competitors opening new hotels, improving existing hotels or offering different types of lodging services. the group monitors its competitors' performance and participates in regular benchmarking to understand the group's position compared to its competitors.

Economic risk

The group is subject to the cyclical nature of the hospitality and travel industry and is also impacted by the effect that global socio-economic and political trends have on its customers. Macroeconomic and other factors beyond the group's control can reduce demand for hospitality products and services, including demand for rooms at hotels.Online meeting platforms, such as Teams have effect on demand of venue hires, especially if participants locations are nationwide or global, therefore the group's marketing focuses on local community in this respect.

FUTURE DEVELOPMENTS

There are no planned changes to the structure of the group, and any major planned development work that was perviously postponed has been on hold still.All future developments are concentrated around monitoring, assessing, and acting to the current changing environment to position the group to ensure its future success.

ON BEHALF OF THE BOARD:

S Degiorgio - Director

26th November 2025

The directors present their report with the financial statements of the company and the group for the year ended 28th February 2025.

DIVIDENDS

No dividends will be distributed for the year ended 28th February 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 29th February 2024 to the date of this report.

S Degiorgio

F Degiorgio

S Degiorgio

Other changes in directors holding office are as follows:

C A Degiorgio - deceased 22nd February 2025

DISABLED PERSONS

The following statements of policy are practiced by the company:

Full and fair consideration is given to applications for employment made by disabled persons, having regard to their particular aptitudes and abilities;

Continued employment and training of staff is offered to those who become disabled whilst they are employees of the company;

The company continues to offer general training, career development and promotion of disabled persons employed by them.

EQUALITY, DIVERSITY AND INCLUSION

The company complies with The Equality Act 2010. The company does not discriminate against age, gender, being in a marriage or in a civil partnership, being pregnant or on maternity leave, disability, race including colour, nationality, ethnic or national origin, religion or belief, sex and sexual orientation.

To prevent discrimination the Company has formulated and implemented the following policies:

- Having an equality, diversity and inclusion policy.

- Providing regular anti-discrimination training.

- Clear guidance if discrimination happens.

COMMUNITY AND ENVIRONMENT

The group, actively engages with local educational establishments and charities to make a positive contribution in terms of creating economic and social value through employment, procurement, taxation and sustainable development initiatives and through strong risk management and respect for human rights. To achieve this, we aim to take a partnership approach, listening to the concerns of stakeholders at site, country and segment levels, to give them the confidence that the group will address the impacts it has on them and their environment in a positive way.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

AUDITORS

The auditors, Beak Kemmenoe, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

S Degiorgio - Director

26th November 2025

Opinion

We have audited the financial statements of Degiorgio Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 28th February 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 28th February 2025 and of the group's 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 group 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 group's and the parent 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 Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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 Statement of Directors' Responsibilities set out on page four, 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 group's and the parent 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 group or the parent 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of hospitality industry;

- We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment and health and safety legislation;

- We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and

- Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- Performed analytical procedures to identify any unusual or unexpected relationships;

-Tested journal entries to identify unusual transactions;

- Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- Investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- Agreeing financial statement disclosures to underlying supporting documentation;

- Enquiring of management as to actual and potential litigation and claims; and

- Reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

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.

Natalie Harrison FCA FCCA CTA TEP (Senior Statutory Auditor)

for and on behalf of Beak Kemmenoe

Chartered Accountants

& Statutory Auditors

1-3 Manor Road

Chatham

Kent

ME4 6AE

26th November 2025

TURNOVER

4,281,002

4,121,361

Cost of sales

772,979

502,584

GROSS PROFIT

3,508,023

3,618,777

Administrative expenses

3,428,394

3,246,875

79,629

371,902

Other operating income

128,974

113,710

OPERATING PROFIT

4

208,603

485,612

Interest receivable and similar income

365,052

355,532

573,655

841,144

Interest payable and similar expenses

5

55,609

58,693

PROFIT BEFORE TAXATION

518,046

782,451

Tax on profit

6

228,901

208,622

PROFIT FOR THE FINANCIAL YEAR

289,145

573,829

Profit attributable to:

Owners of the parent

289,145

573,829

PROFIT FOR THE YEAR

289,145

573,829

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

289,145

573,829

Total comprehensive income attributable to:

Owners of the parent

289,145

573,829

FIXED ASSETS

Tangible assets

8

10,963,003

11,265,820

Investments

9

-

-

Investment property

10

317,990

-

11,280,993

11,265,820

CURRENT ASSETS

Stocks

11

38,700

39,500

Debtors

12

5,381,960

5,592,008

Cash at bank

8,063,001

8,983,015

13,483,661

14,614,523

CREDITORS

Amounts falling due within one year

13

1,188,445

2,612,468

NET CURRENT ASSETS

12,295,216

12,002,055

TOTAL ASSETS LESS CURRENT LIABILITIES

23,576,209

23,267,875

PROVISIONS FOR LIABILITIES

14

46,246

27,056

NET ASSETS

23,529,963

23,240,819

CAPITAL AND RESERVES

Called up share capital

15

10,000

10,000

Fair value reserve

16

3,022,732

3,022,732

Retained earnings

16

20,497,231

20,208,087

SHAREHOLDERS' FUNDS

23,529,963

23,240,819

The financial statements were approved by the Board of Directors and authorised for issue on 26th November 2025 and were signed on its behalf by:

S Degiorgio - Director

FIXED ASSETS

Tangible assets

8

5,607,466

5,721,904

Investments

9

2,000

2,000

Investment property

10

317,990

-

5,927,456

5,723,904

CURRENT ASSETS

Debtors

12

13,448,311

13,499,250

Cash at bank

7,982,103

8,900,030

21,430,414

22,399,280

CREDITORS

Amounts falling due within one year

13

17,310,921

18,091,738

NET CURRENT ASSETS

4,119,493

4,307,542

TOTAL ASSETS LESS CURRENT LIABILITIES

10,046,949

10,031,446

CAPITAL AND RESERVES

Called up share capital

15

10,000

10,000

Retained earnings

16

10,036,949

10,021,446

SHAREHOLDERS' FUNDS

10,046,949

10,031,446

Company's profit for the financial year

15,503

181,310

The financial statements were approved by the Board of Directors and authorised for issue on 26th November 2025 and were signed on its behalf by:

S Degiorgio - Director

Called up

Fair

share

Retained

value

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1st March 2023

10,000

19,634,258

3,022,732

22,666,990

Changes in equity

Total comprehensive income

-

573,829

-

573,829

Balance at 28th February 2024

10,000

20,208,087

3,022,732

23,240,819

Changes in equity

Total comprehensive income

-

289,145

-

289,145

Balance at 28th February 2025

10,000

20,497,232

3,022,732

23,529,964

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st March 2023

10,000

9,840,136

9,850,136

Changes in equity

Total comprehensive income

-

181,310

181,310

Balance at 28th February 2024

10,000

10,021,446

10,031,446

Changes in equity

Total comprehensive income

-

15,503

15,503

Balance at 28th February 2025

10,000

10,036,949

10,046,949

Cash flows from operating activities

Cash generated from operations

1

518,938

1,625,766

Interest paid

(55,609

)

(58,693

)

Tax paid

(1,365,350

)

58,694

Net cash from operating activities

(902,021

)

1,625,767

Cash flows from investing activities

Purchase of tangible fixed assets

(65,055

)

(247,184

)

Purchase of investment property

(317,990

)

-

Interest received

365,052

355,532

Net cash from investing activities

(17,993

)

108,348

(Decrease)/increase in cash and cash equivalents

(920,014

)

1,734,115

Cash and cash equivalents at beginning of year

2

8,983,015

7,248,900

Cash and cash equivalents at end of year

2

8,063,001

8,983,015

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

2025

2024

£

£

Profit before taxation

518,046

782,451

Depreciation charges

359,908

267,320

Loss on disposal of fixed assets

7,964

-

Finance costs

55,609

58,693

Finance income

(365,052

)

(355,532

)

576,475

752,932

Decrease/(increase) in stocks

800

(2,100

)

Decrease in trade and other debtors

512,251

39,321,181

Decrease in trade and other creditors

(570,588

)

(38,446,247

)

Cash generated from operations

518,938

1,625,766

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 28th February 2025

28.2.25

29.2.24

£

£

Cash and cash equivalents

8,063,001

8,983,015

Year ended 28th February 2024

28.2.24

1.3.23

£

£

Cash and cash equivalents

8,983,015

7,248,900

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 29.2.24

Cash flow

At 28.2.25

£

£

£

Net cash

Cash at bank

8,983,015

(920,014

)

8,063,001

8,983,015

(920,014

)

8,063,001

Total

8,983,015

(920,014

)

8,063,001

1.	STATUTORY INFORMATION

Degiorgio Holdings 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 General Information page.

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 under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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.

In preparing the financial statements the directors have made the following judgements:

Determining the useful lives and depreciation policies for the company's various classes of tangible fixed assets. The directors base these estimates on technological advancement, future investments, economic utilisation and physical condition of the assets to ensure that the depreciation policy used is sufficient so that the carrying value does not exceed its net realisable value.

Turnover

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

Tangible fixed assets

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

Long leasehold

-

2% straight line and 2% on cost

Plant and machinery

-

10% straight line

Fixtures and fittings

-

25% straight line, 10% straight line and 5 to 10 years straight line

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. thus the directors continue to adopt the going concern basis of account in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,575,703

1,605,955

Social security costs

122,497

130,011

Other pension costs

16,823

14,853

1,715,023

1,750,819

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

2025

2024

Directors

4

4

Hotel employees

57

88

61

92

The average number of employees by undertakings that were proportionately consolidated during the year was 61 (2024 - 92 ) .