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REGISTERED NUMBER: 13674881 (England and Wales)



Audited Financial Statements for the Year Ended 31 December 2023

for

Heathrow House Limited

Heathrow House Limited (Registered number: 13674881)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 7


Heathrow House Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr M R Shooter
Mr J M Weinzweig



REGISTERED OFFICE: S223 - S224 Churchill House
120 Bunns Lane
London
NW7 2AS



REGISTERED NUMBER: 13674881 (England and Wales)



SENIOR STATUTORY AUDITOR: Mr Alan Kaye FCA



AUDITORS: BBK Partnership
Chartered Accountants
& Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ

Heathrow House Limited (Registered number: 13674881)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
as restated
Notes £    £   
FIXED ASSETS
Tangible assets 4 875 -
Investment property 5 30,531,937 21,802,736
30,532,812 21,802,736

CURRENT ASSETS
Debtors 6 437,395 1,591,448
Cash at bank 794,706 25,292
1,232,101 1,616,740
CREDITORS
Amounts falling due within one year 7 (30,034,473 ) (23,401,975 )
NET CURRENT LIABILITIES (28,802,372 ) (21,785,235 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,730,440

17,501

PROVISIONS FOR LIABILITIES - (225,000 )
NET ASSETS/(LIABILITIES) 1,730,440 (207,499 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 9 (494,469 ) (494,469 )
Retained earnings 9 2,224,809 286,870
SHAREHOLDERS' FUNDS 1,730,440 (207,499 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 19 May 2025 and were signed on its behalf by:





Mr J M Weinzweig - Director


Heathrow House Limited (Registered number: 13674881)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Heathrow House 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £

Significant judgements and estimates
In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of the 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 estimates are revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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.
Computer Equipments 25%

Investment property
Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Financial instruments
Cash and cash equivalents
Cash and cash equivalents comprises cash on hand and all deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to and insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary
course of business. Trade debtors are recognised initially at the transaction price. They are subsequently
measured at amortised cost using the effective interest method less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Heathrow House Limited (Registered number: 13674881)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Accounts payables are classified as current liabilities of the company does not have an unconditional right at the end of the reporting period to refer settlements of the creditor for at least twelve
months after the reporting date. If there is an unconditional right to defer settlements for at least twelve months after the reporting date they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Heathrow House Limited (Registered number: 13674881)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 1,166
At 31 December 2023 1,166
DEPRECIATION
Charge for year 291
At 31 December 2023 291
NET BOOK VALUE
At 31 December 2023 875

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 21,802,736
Additions 8,729,201
At 31 December 2023 30,531,937
NET BOOK VALUE
At 31 December 2023 30,531,937
At 31 December 2022 21,802,736

Heathrow House Limited (Registered number: 13674881)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
as restated
£    £   
Trade debtors 5,351 67,452
Amounts owed by group undertakings - 1,497,737
Other debtors 432,044 26,259
437,395 1,591,448

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
as restated
£    £   
Accruals and deferred income 6,448,231 1,874,868
Trade creditors 442,428 582,501
Amounts owed to group undertakings 22,357,234 19,874,947
VAT 278,988 116,436
Other creditors 507,592 953,223
30,034,473 23,401,975

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: as restated
£    £   
100 Ordinary shares 1 100 100

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 January 2023 286,870 (494,469 ) (207,599 )
Profit for the year 1,937,939 1,937,939
At 31 December 2023 2,224,809 (494,469 ) 1,730,340

Heathrow House Limited (Registered number: 13674881)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.


We draw attention to Note 4 to the financial statements, which describes a prior year adjustment relating to the correction of an error in the classification and presentation of certain items in the prior year financial statements. As disclosed in the note, the comparative figures have been restated accordingly. Our opinion is not modified in respect of this matter.

Mr Alan Kaye FCA (Senior Statutory Auditor)
for and on behalf of BBK Partnership

11. RELATED PARTY DISCLOSURES

Included within 'Amounts Owed by Group Undertakings' is an amount of £22,357,233.78 due to Heathrow house holding Limited, a company under common control

12. CHARGES

Ap Property Finance Designated Activity Company has placed a specific equitable charge over all freehold and leasehold properties and/or the proceeds of sale thereof fixed and floating charges over undertaking and all property and assets present and future including goodwill book debts and the benefits of any licenses and charge of deposit.

13. CONTROLLING PARTY

The immediate parent undertaking of the company is Heathrow House Holdings Ltd, whose registered
office is at S223 - S224 Churchill House 120 Bunns Lane, London, United Kingdom, NW7 2AS.

The ultimate controlling party is Jeffrey Weinzweig.