REGISTERED NUMBER: 00758379 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2016

FOR

A.A. MICHAELIDES (BROOK GREEN) LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A.A. Michaelides

Mr Antoni Michaelides

Mrs M.M. Michaelides

Mrs J.M. O'Keefe

SECRETARY:

Mr A.A. Michaelides

REGISTERED OFFICE:

Global House

303 Ballards Lane

London

N12 8NP

REGISTERED NUMBER:

00758379 (England and Wales)

ACCOUNTANTS:

Pittalis Gilchrist LLP

Chartered Certified Accountants

Global House

303 Ballards Lane

London

N12 8NP

FIXED ASSETS

Tangible assets

3

7,502,228

5,711,536

CURRENT ASSETS

Debtors

4

529,317

474,425

Cash at bank and in hand

265,713

388,946

795,030

863,371

CREDITORS

Amounts falling due within one year

5

306,932

260,199

NET CURRENT ASSETS

488,098

603,172

TOTAL ASSETS LESS CURRENT LIABILITIES

7,990,326

6,314,708

CREDITORS

Amounts falling due after more than one year

6

(2,263,167

)

(2,420,312

)

PROVISIONS FOR LIABILITIES

7

(720,387

)

(362,248

)

NET ASSETS

5,006,772

3,532,148

CAPITAL AND RESERVES

Called up share capital

100,000

100,000

Revaluation reserve

8

2,879,763

1,446,895

Retained earnings

8

2,027,009

1,985,253

SHAREHOLDERS' FUNDS

5,006,772

3,532,148

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 8 December 2016 and were signed on its behalf by:

Mr Antoni Michaelides - Director

1.	STATUTORY INFORMATION

A.A. Michaelides (Brook Green) 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of 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 as modified by the revaluation of certain assets.

Revenue recognition

Revenuer represents amounts received from rooms let out and rents received. Revenue for the provision of

services is recognised when the services are provided to the customer..

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Land and building held and used in the Company's own activities for production and supply of goods or for

administration purposes are stated in the statement of financial position at their revalued amounts. Revaluations

are carried out regularly so that the carrying amounts do not materially differ form using the fair value at the date of

the statement of financial position.

Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve.

Once the property is sold or retired any attributable revaluation surplus that is remaining in the property revaluation

reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings

unless an asset is derecognised.

Deferred tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting

period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other

comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or

directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts

of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at

the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other

deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal

of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that

have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the

timing difference.

3.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST OR VALUATION

At 1 July 2015

5,708,915

54,886

5,763,801

Revaluations

1,791,085

-

1,791,085

At 30 June 2016

7,500,000

54,886

7,554,886

DEPRECIATION

At 1 July 2015

-

52,265

52,265

Charge for year

-

393

393

At 30 June 2016

-

52,658

52,658

NET BOOK VALUE

At 30 June 2016

7,500,000

2,228

7,502,228

At 30 June 2015

5,708,915

2,621

5,711,536

The directors revalued all the freehold properties owned by the company by comparing them to other hotel

properties in the area. They have based the valuations on the lower end of market value.

Cost or valuation at 30 June 2016 is represented by:

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

Valuation in 2016

1,791,086

-

1,791,086

Valuation in 2013

1,463,052

-

1,463,052

Valuation in 2011

343,618

-

343,618

Cost

3,902,244

54,886

3,957,130

7,500,000

54,886

7,554,886

4.

DEBTORS

30.6.16

30.6.15

£

£

Amounts falling due within one year:

Other debtors

25,817

18,925

Amounts falling due after more than one year:

Other debtors

503,500

455,500

Aggregate amounts

529,317

474,425

The above debtors include an amount of £503,500 (2015 - £455,500) which is due after more than one year.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.16

30.6.15

£

£

Bank loans and overdrafts

152,443

137,437

Amounts owed to related companies

93,510

72,695

Taxation and social security

38,736

44,678

Other creditors

22,243

5,389

306,932

260,199

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.16

30.6.15

£

£

Bank loans

1,913,167

2,070,312

Other creditors

350,000

350,000

2,263,167

2,420,312

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

1,176,712

1,383,127

The bank loan, the aggregate total of which amounts to £2,060,458 is repayable in annual instalments of £221,933.

It is secured on some of the freehold properties owned by the company.

7.	PROVISIONS FOR LIABILITIES

30.6.16

30.6.15

£

£

Deferred tax

Accelerated capital allowances

446

524

Deferred tax

719,941

361,724

720,387

362,248

Deferred

tax

£

Balance at 1 July 2015

362,248

Provided during year

358,139

Balance at 30 June 2016

720,387

8.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 July 2015

1,985,253

1,446,895

3,432,148

Profit for the year

81,756

81,756

Dividends

(40,000

)

(40,000

)

Freehold properties

-

1,791,085

1,791,085

No description

-

(358,217

)

(358,217

)

At 30 June 2016

2,027,009

2,879,763

4,906,772

9.	RELATED PARTY DISCLOSURES

At the year end the company owed to directors an amount of £21,043 (2015- £3,228).

Creditors includes an amount of £441,500 (2015-£422,695) owed to The Hotel Group Ltd, a connected company

under the common control of the shareholders.

Debtors includes an amount of £371,500 (2015 - £338,500) owed by Juan Ltd a company under the common

control of two of the directors.

10.	ULTIMATE CONTROLLING PARTY

The directors control the company as a result of directly owning 100% of the issued share capital of the company.

11.	FIRST YEAR ADOPTION

These financial statements for the year ended 30 June 2016 are the first financial statements that comply with FRS

102. The date of transition is 1 July 2015. The transition to FRS 102 has resulted in a small number of changes in

accounting policies to those used previously. The nature of these changes and their impact on opening equity and

profit for the comparative period are explained in the reconciliation notes.