REGISTERED NUMBER: 13674881 (England and Wales)

Audited Financial Statements for the Year Ended 31 December 2024

for

Heathrow House Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

8

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:

Alan Kaye FCA

AUDITORS:

BBK Partnership

Chartered Accountants

& Statutory Auditors

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

FIXED ASSETS

Tangible assets

4

1,927

875

Investment property

5

47,832,603

30,531,937

47,834,530

30,532,812

CURRENT ASSETS

Debtors

6

682,163

437,395

Cash at bank

55,311

794,706

737,474

1,232,101

CREDITORS

Amounts falling due within one year

7

(30,632,324

)

(30,034,473

)

NET CURRENT LIABILITIES

(29,894,850

)

(28,802,372

)

TOTAL ASSETS LESS CURRENT LIABILITIES

17,939,680

1,730,440

CREDITORS

Amounts falling due after more than one year

8

(16,138,470

)

-

NET ASSETS

1,801,210

1,730,440

CAPITAL AND RESERVES

Called up share capital

10

100

100

Fair value reserve

11

(494,469

)

(494,469

)

Retained earnings

11

2,295,579

2,224,809

SHAREHOLDERS' FUNDS

1,801,210

1,730,440

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 16 October 2025 and were signed on its behalf by:

Mr J M Weinzweig - Director

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 £1.

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 equipment

-

25% on cost

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.

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.

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.

Going concern

As part of their assessment of going concern, the directors of the company have considered the liquidity position and funding requirements for at least 12 months from the date of approval of these financial statements. The directors consider it appropriate to prepare the financial statement on a going concern basis

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

1,166

Additions

2,569

Disposals

(1,166

)

At 31 December 2024

2,569

DEPRECIATION

At 1 January 2024

291

Charge for year

715

Eliminated on disposal

(364

)

At 31 December 2024

642

NET BOOK VALUE

At 31 December 2024

1,927

At 31 December 2023

875

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

30,531,937

Additions

17,300,666

At 31 December 2024

47,832,603

NET BOOK VALUE

At 31 December 2024

47,832,603

At 31 December 2023

30,531,937

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

20,479

5,351

Teacher Stern Cash Account

9,008

69,656

Prepayments

447,220

362,388

Deposit Paid

205,456

-

682,163

437,395

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Accruals and deferred income

9,482,574

6,448,231

Trade creditors

1,181,167

442,428

Amounts owed to group undertakings

19,599,226

22,357,234

Tax

1,600

-

VAT

34,760

278,988

Permitted Developments Investm

438,359

629,495

Baumarkt Ltd - Loan Accnt

(105,362

)

(121,903

)

30,632,324

30,034,473

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans (see note 9)

16,138,470

-

9.

LOANS

An analysis of the maturity of loans is given below:

31.12.24

31.12.23

£

£

Amounts falling due between two and five years:

Pluto Finance

16,138,470

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

Ordinary shares

£1

100

100

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 January 2024

2,224,809

(494,469

)

1,730,340

Profit for the year

70,770

70,770

At 31 December 2024

2,295,579

(494,469

)

1,801,110

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

The Report of the Auditors was unqualified.

Alan Kaye FCA (Senior Statutory Auditor)

for and on behalf of BBK Partnership

13.	RELATED PARTY DISCLOSURES

Included within Amounts Owed by Group Undertakings is an amount of £19,599,226 (2023: 22,357,234) due to Heathrow House Holding Limited, the immediate parent company.

14.

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.

15.	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.