Company registration number 2831713 (England and Wales)
IONIC HOTELS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
IONIC HOTELS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
IONIC HOTELS LTD
BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
5
30,522,020
29,582,276
Investment property
6
798,211
798,211
31,320,231
30,380,487
Current assets
Debtors
7
136,440
436,681
Cash at bank and in hand
3,343,003
2,177,473
3,479,443
2,614,154
Creditors: amounts falling due within one year
8
(1,671,024)
(1,222,043)
Net current assets
1,808,419
1,392,111
Total assets less current liabilities
33,128,650
31,772,598
Creditors: amounts falling due after more than one year
9
(5,355,000)
(5,775,000)
Net assets
27,773,650
25,997,598
Capital and reserves
Called up share capital
10
100
100
Profit and loss reserves
27,773,550
25,997,498
Total equity
27,773,650
25,997,598

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 16 July 2026 and are signed on its behalf by:
Mr Mansoor Popat
Director
Company registration number 2831713 (England and Wales)
IONIC HOTELS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
1
Accounting policies
Company information

IONIC HOTELS LTD is a private company limited by shares incorporated in England and Wales. The registered office is 68-69 Queen's Gate, LONDON, SW7 5JT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
Nil
Fixtures, fittings & equipment
20% on reducing balance
Computer equipment
25% on cost
No Depreciation is provided for the buildings that are valued as an operational entity as the directors believe them to be appreciating in value.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

IONIC HOTELS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

IONIC HOTELS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of 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 estimate is 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.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
18
18
4
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2025 and 31 December 2025
5,000
Amortisation and impairment
At 1 January 2025 and 31 December 2025
5,000
Carrying amount
At 31 December 2025
-
0
At 31 December 2024
-
0
IONIC HOTELS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2025
28,336,559
3,542,685
31,879,244
Additions
899,508
361,789
1,261,297
At 31 December 2025
29,236,067
3,904,474
33,140,541
Depreciation and impairment
At 1 January 2025
-
0
2,296,968
2,296,968
Depreciation charged in the year
-
0
321,553
321,553
At 31 December 2025
-
0
2,618,521
2,618,521
Carrying amount
At 31 December 2025
29,236,067
1,285,953
30,522,020
At 31 December 2024
28,336,559
1,245,717
29,582,276
6
Investment property
2025
£
Cost
At 1 January 2025 and 31 December 2025
798,211

The fair value of the investment properties has been arrived at on the basis of a valuation carried out at 31 March 2026 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
136,440
436,681
IONIC HOTELS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
8
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
420,000
420,000
Trade creditors
114,649
62,590
Corporation tax
432,371
256,286
Other taxation and social security
151,564
168,293
Other creditors
552,440
314,874
1,671,024
1,222,043
9
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
5,355,000
5,775,000

The term of the loan is 18 months. However the repayment profile of the Loan has been calculated on the basis of a 25 year amortisation profile. The interest rate is 1.85% above the base rate. The loan is secured against the assets of the company.

10
Called up share capital
2025
2024
Ordinary share capital
£
£
Issued and fully paid
100 Ordinary shares of £1 each
100
100
100
100
11
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

IONIC HOTELS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
11
Audit report information
(Continued)
- 7 -
Senior Statutory Auditor:
Nabeel Shahzad
Statutory Auditor:
Goldwins Limited
Date of audit report:
17 July 2026
2025-12-31 2025-01-01 false false false 17 July 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity Mr Mansoor Popat Mr Abid Alibhai 2831713 2025-01-01 2025-12-31 2831713 2025-12-31 2831713 2024-12-31 2831713 core:LandBuildings 2025-12-31 2831713 core:OtherPropertyPlantEquipment 2025-12-31 2831713 core:LandBuildings 2024-12-31 2831713 core:OtherPropertyPlantEquipment 2024-12-31 2831713 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 2831713 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 2831713 core:Non-currentFinancialInstruments core:AfterOneYear 2025-12-31 2831713 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 2831713 core:CurrentFinancialInstruments 2025-12-31 2831713 core:CurrentFinancialInstruments 2024-12-31 2831713 core:ShareCapital 2025-12-31 2831713 core:ShareCapital 2024-12-31 2831713 core:RetainedEarningsAccumulatedLosses 2025-12-31 2831713 core:RetainedEarningsAccumulatedLosses 2024-12-31 2831713 core:ShareCapitalOrdinaryShareClass1 2025-12-31 2831713 core:ShareCapitalOrdinaryShareClass1 2024-12-31 2831713 core:ShareCapitalOrdinaryShares 2025-12-31 2831713 core:ShareCapitalOrdinaryShares 2024-12-31 2831713 bus:ChiefExecutive 2025-01-01 2025-12-31 2831713 core:LandBuildings core:OwnedOrFreeholdAssets 2025-01-01 2025-12-31 2831713 core:FurnitureFittings 2025-01-01 2025-12-31 2831713 core:ComputerEquipment 2025-01-01 2025-12-31 2831713 2024-01-01 2024-12-31 2831713 core:NetGoodwill 2024-12-31 2831713 core:NetGoodwill 2025-12-31 2831713 core:NetGoodwill 2024-12-31 2831713 core:LandBuildings 2024-12-31 2831713 core:OtherPropertyPlantEquipment 2024-12-31 2831713 2024-12-31 2831713 core:LandBuildings 2025-01-01 2025-12-31 2831713 core:OtherPropertyPlantEquipment 2025-01-01 2025-12-31 2831713 core:Non-currentFinancialInstruments 2025-12-31 2831713 core:Non-currentFinancialInstruments 2024-12-31 2831713 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 2831713 bus:OrdinaryShareClass1 2025-12-31 2831713 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 2831713 bus:FRS102 2025-01-01 2025-12-31 2831713 bus:Audited 2025-01-01 2025-12-31 2831713 bus:Director1 2025-01-01 2025-12-31 2831713 bus:Director2 2025-01-01 2025-12-31 2831713 bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 2831713 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP