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REGISTERED NUMBER: 12525066 (England and Wales)



Audited Financial Statements for the Year Ended 31 December 2023

for

Gold Wynn Heathrow Limited

Gold Wynn Heathrow Limited (Registered number: 12525066)

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 6


Gold Wynn Heathrow Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M R Shooter
J M Weinzweig



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



REGISTERED NUMBER: 12525066 (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

Gold Wynn Heathrow Limited (Registered number: 12525066)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Investments 4 5,408,139 5,408,139

CURRENT ASSETS
Debtors 5 17,128,637 12,627,643

CREDITORS
Amounts falling due within one year 6 (31,760,599 ) (26,836,324 )
NET CURRENT LIABILITIES (14,631,962 ) (14,208,681 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(9,223,823

)

(8,800,542

)

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings (9,223,833 ) (8,800,552 )
(9,223,823 ) (8,800,542 )

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:





J M Weinzweig - Director


Gold Wynn Heathrow Limited (Registered number: 12525066)

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


1. STATUTORY INFORMATION

Gold Wynn Heathrow 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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

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.


Gold Wynn Heathrow Limited (Registered number: 12525066)

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


2. ACCOUNTING POLICIES - continued
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.

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 any impairment.

Provisions
Provisions are recognised when the company has a present obligation at the balance sheet date arising from a past event, it is probable that an outflow of economic benefits will be required to settle the obligation, and the amount can be reliably estimated.

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.

Going concern
The company's activities generated a loss of £,423,281 (2022: loss of £8,800,552) and has a net liability of £9,223,823 (2022 £ 8,800,542). The company's operational existence is still dependent on the ability to raise further funding from its parent company and other group members.

After making due enquires, the directors have formed a judgement that there is a reasonable expectation that the company can secure further adequate resources to continue in operational existence for the foreseeable future and that adequate arrangements will be in place to enable the settlement of their financial commitments, as and when they fall due.

For this reason, the directors continue to adopt the going concern basis in preparing the financial statements. Whilst there are inherent uncertainties in relation to future events, and therefore no certainty over the outcome of the matters described, the directors consider that, based upon the financial projections and dependent upon the success of their efforts to complete these activities, the company will be a going concern for the next twelve months.

3. EMPLOYEES AND DIRECTORS

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

Gold Wynn Heathrow Limited (Registered number: 12525066)

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


4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 5,408,139
NET BOOK VALUE
At 31 December 2023 5,408,139
At 31 December 2022 5,408,139

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by group undertakings 14,219,247 11,406,640
Prepayments and accrued income 2,909,390 1,219,616
Other debtors - 1,387
17,128,637 12,627,643

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 13,855,956 17,845,908
Accruals and deferred income 825,201 583,542
Amounts owed to group undertakings 17,079,442 8,406,874
31,760,599 26,836,324

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

The Report of the Auditors was unqualified.

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

8. RELATED PARTY DISCLOSURES

Included within 'Amounts Owed by Group Undertakings' is an amount of £17,079,441.80 due to Wynn Weinzweig UK Hold Co Limited, a company under common control.

Included within 'Amounts Owed by Group Undertakings' is an amount of £14,219,243.78 due from Heathrow House Holdings Limited, a company under common control.

Included within 'Amounts Owed by Group Undertakings' is an amount of £3.00 due from United Properties Limited, a company under common control.

Gold Wynn Heathrow Limited (Registered number: 12525066)

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


9. ULTIMATE CONTROLLING PARTY

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

10. CHARGES

During the year the company had granted charges in favour of Harbour Lending Limited over its fixed and floating assets covering all property and undertakings. The charges were satisfied on 20th June 2024.