PHH Haymarket Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 13981518

		2024		2023 as restated
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		38,614		43,114
Tangible Assets	5		12,010,365		12,214,584
Investment Properties	6		11,500,000		10,800,000
Investments	7		100		100

			23,549,079		23,057,798
CURRENT ASSETS
Debtors	8	255,764		888,442
Cash at bank and in hand		1,511		11,553

		257,275		899,995
Creditors: Amounts Falling Due Within One Year	9	(9,695,425 )		(10,224,344 )

NET CURRENT ASSETS (LIABILITIES)			(9,438,150 )		(9,324,349 )

TOTAL ASSETS LESS CURRENT LIABILITIES			14,110,929		13,733,449

Creditors: Amounts Falling Due After More Than One Year	10		(12,964,201 )		(12,421,859 )

NET ASSETS			1,146,728		1,311,590

CAPITAL AND RESERVES
Called up share capital	12		100		100
Profit and Loss Account			1,146,628		1,311,490

SHAREHOLDERS' FUNDS			1,146,728		1,311,590

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PHH Haymarket Ltd

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Paulus Steeghs

Director

18th September 2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

PHH Haymarket Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13981518 . The registered office is 17 Cavendish Square, London, W1G 0PH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are software. It is amortised to profit and loss account over its estimated economic life of 10 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at fair value with gains and losses recognised in the profit or loss in the period to which they relate.

Freehold	Fair Value
Leasehold	Straight over a useful life of 141 years
Fixtures & Fittings	20% on cost

2.5. Investment Properties

All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.

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PHH Haymarket Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

2.7. Investment - Company

Company investment in a subsidiary company is held at cost less accumulated impairment losses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 2)

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2024	45,000

As at 31 December 2024	45,000

Amortisation
As at 1 January 2024	1,886
Provided during the period	4,500

As at 31 December 2024	6,386

Net Book Value
As at 31 December 2024	38,614

As at 1 January 2024	43,114

5. Tangible Assets

	Land & Property
	Leasehold	Fixtures & Fittings	Total
	£	£	£
Cost or Valuation
As at 1 January 2024	11,771,767	603,094	12,374,861

As at 31 December 2024	11,771,767	603,094	12,374,861

...CONTINUED

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PHH Haymarket Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Depreciation
As at 1 January 2024	109,867	50,410	160,277
Provided during the period	83,600	120,619	204,219

As at 31 December 2024	193,467	171,029	364,496

Net Book Value
As at 31 December 2024	11,578,300	432,065	12,010,365

As at 1 January 2024	11,661,900	552,684	12,214,584

6. Investment Property

	2024
	£
Fair Value
As at 1 January 2024	10,800,000
Additions	78,886
Revaluations	621,114

As at 31 December 2024	11,500,000

7. Investments

	Unlisted
	£
Cost
As at 1 January 2024	100

As at 31 December 2024	100

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	100

As at 1 January 2024	100

8. Debtors

	2024	2023 as restated
	£	£
Due within one year
Amounts owed by group undertakings	127,543	734,730
Other debtors	128,221	153,712

	255,764	888,442

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PHH Haymarket Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Creditors: Amounts Falling Due Within One Year

	2024	2023 as restated
	£	£
Trade creditors	29,211	43,492
Amounts owed to group undertakings	9,666,214	10,170,852
Other creditors	-	10,000

	9,695,425	10,224,344

10. Creditors: Amounts Falling Due After More Than One Year

	2024	2023 as restated
	£	£
Other loans	12,964,201	12,421,859

11. Secured Creditors

A loan in a group company is secured by a fixed and floating charge over the company's assets.

12. Share Capital

	2024	2023 as restated
	£	£
Allotted, Called up and fully paid	100	100

13. Ultimate Controlling Party

The company's ultimate controlling party is Jonathan Steiner by virtue of his ownership of 99% of the issued share capital in the company.

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