Caseware UK (AP4) 2025.0.111 2025.0.111 2025-12-31 2025-12-31 false false 2025-01-01 true true true true false 111 Hotel 115 true 04056337 2025-01-01 2025-12-31 04056337 2024-01-01 2024-12-31 04056337 2025-12-31 04056337 2024-12-31 04056337 2024-01-01 04056337 3 2025-01-01 2025-12-31 04056337 3 2024-01-01 2024-12-31 04056337 4 2024-01-01 2024-12-31 04056337 5 2025-01-01 2025-12-31 04056337 1 2025-01-01 2025-12-31 04056337 e:Director1 2025-01-01 2025-12-31 04056337 e:Director2 2025-01-01 2025-12-31 04056337 e:Director3 2025-01-01 2025-12-31 04056337 e:RegisteredOffice 2025-01-01 2025-12-31 04056337 d:Buildings 2025-01-01 2025-12-31 04056337 d:Buildings 2025-12-31 04056337 d:Buildings 2024-12-31 04056337 d:Buildings d:OwnedOrFreeholdAssets 2025-01-01 2025-12-31 04056337 d:FurnitureFittings 2025-01-01 2025-12-31 04056337 d:FurnitureFittings 2025-12-31 04056337 d:FurnitureFittings 2024-12-31 04056337 d:FurnitureFittings d:OwnedOrFreeholdAssets 2025-01-01 2025-12-31 04056337 d:OwnedOrFreeholdAssets 2025-01-01 2025-12-31 04056337 d:CurrentFinancialInstruments 2025-12-31 04056337 d:CurrentFinancialInstruments 2024-12-31 04056337 d:CurrentFinancialInstruments d:WithinOneYear 2025-12-31 04056337 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 04056337 d:UKTax 2025-01-01 2025-12-31 04056337 d:UKTax 2024-01-01 2024-12-31 04056337 d:ShareCapital 2025-12-31 04056337 d:ShareCapital 2024-12-31 04056337 d:ShareCapital 2024-01-01 04056337 d:SharePremium 2025-01-01 2025-12-31 04056337 d:SharePremium 2025-12-31 04056337 d:SharePremium 3 2025-01-01 2025-12-31 04056337 d:SharePremium 2024-12-31 04056337 d:SharePremium 2024-01-01 04056337 d:SharePremium 3 2024-01-01 2024-12-31 04056337 d:SharePremium 4 2024-01-01 2024-12-31 04056337 d:RevaluationReserve 2025-01-01 2025-12-31 04056337 d:RevaluationReserve 2025-12-31 04056337 d:RevaluationReserve 3 2025-01-01 2025-12-31 04056337 d:RevaluationReserve 5 2025-01-01 2025-12-31 04056337 d:RevaluationReserve 2024-12-31 04056337 d:RevaluationReserve 2024-01-01 04056337 d:RevaluationReserve 3 2024-01-01 2024-12-31 04056337 d:RevaluationReserve 4 2024-01-01 2024-12-31 04056337 d:RetainedEarningsAccumulatedLosses 2025-01-01 2025-12-31 04056337 d:RetainedEarningsAccumulatedLosses 2025-12-31 04056337 d:RetainedEarningsAccumulatedLosses 3 2025-01-01 2025-12-31 04056337 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 04056337 d:RetainedEarningsAccumulatedLosses 2024-12-31 04056337 d:RetainedEarningsAccumulatedLosses 2024-01-01 04056337 d:RetainedEarningsAccumulatedLosses 3 2024-01-01 2024-12-31 04056337 d:RetainedEarningsAccumulatedLosses 4 2024-01-01 2024-12-31 04056337 d:AcceleratedTaxDepreciationDeferredTax 2025-12-31 04056337 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 04056337 e:OrdinaryShareClass1 2025-01-01 2025-12-31 04056337 e:OrdinaryShareClass1 2025-12-31 04056337 e:FRS102 2025-01-01 2025-12-31 04056337 e:Audited 2025-01-01 2025-12-31 04056337 e:FullAccounts 2025-01-01 2025-12-31 04056337 e:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 04056337 d:WithinOneYear 2025-12-31 04056337 d:WithinOneYear 2024-12-31 04056337 d:BetweenOneFiveYears 2025-12-31 04056337 d:BetweenOneFiveYears 2024-12-31 04056337 5 2025-01-01 2025-12-31 04056337 d:ShareCapital 3 2025-01-01 2025-12-31 04056337 d:ShareCapital 3 2024-01-01 2024-12-31 04056337 d:ShareCapital 4 2024-01-01 2024-12-31 04056337 f:PoundSterling 2025-01-01 2025-12-31 04056337 d:RetainedEarningsAccumulatedLosses 5 2025-01-01 2025-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 04056337 11 HOSPITALITY (BIRMINGHAM) LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
11 HOSPITALITY (BIRMINGHAM) LIMITED
COMPANY INFORMATION
Directors | Bhupendra S Kansagra
| Rajni S Kansagra
| Ramesh S Kansagra
Registered number | 04056337
Registered office | Portland House
| 69-71 Wembley Hill Road
| Wembley
| Middlesex
| HA9 8BU
Independent auditors | Sopher + Co LLP
| Chartered Accountants & Statutory Auditors
| 5 Elstree Gate
| Elstree Way
| Borehamwood
| Hertfordshire
| WD6 1JD
11 HOSPITALITY (BIRMINGHAM) LIMITED
CONTENTS
| Page
Strategic report | 1 - 3
Directors' report | 4 - 5
Independent auditors' report | 6 - 9
Statement of comprehensive income | 10
Statement of financial position | 11
Statement of changes in equity | 12
Notes to the financial statements | 13 - 23
11 HOSPITALITY (BIRMINGHAM) LIMITED
STRATEGIC REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
Principal activity
The main activity of 11 Hospitality (Birmingham) Limited ("the Company) continues to be the ownership and operation of Holiday Inn Birmingham Airport Hotel, Birmingham, a four star hotel in the United Kingdom.
Business review
This financial year delivered another strong and stable performance for the hotel, reflecting what we believe to be a settled and sustainable level of trading. Revenue increased by 4.1% to £8.8m (2024 - £8.5m), demonstrating continued demand and resilient trading conditions. Gross profit increased by 5.1% compared with the previous year. Operating profit decreased modestly by 5.7% to £1.8m (2024 - £1.9m), reflecting higher operating costs despite continued revenue growth. Overall, the results demonstrate that the business has established a period of stable and sustainable performance, providing a solid foundation for future growth. Trading conditions in 2025 were favorable, with demand for UK hospitality continuing at strong levels. The hotel benefited from strong occupancy throughout the year, supported by resilient leisure and corporate travel segments. The business plan was to stabilise occupancy whilst driving to increase Average Daily Rate (ADR) based on the foothold we had captured in the market. While revenues were strong, the business continued to navigate significant cost pressures during 2025, particularly from increases in wage costs and employer National Insurance contributions. Labour costs per head increased by approximately 11.6%, reflecting wider inflationary pressures and regulatory changes. In response, management implemented tighter staffing models, enhanced operational KPIs and introduced a new time and attendance system to provide greater oversight and control of labour deployment. These initiatives have enabled the hotel to optimise resource allocation, improve workforce efficiency and maintain service standards while carefully managing the impact on margins and overall profitability. Inflationary pressures remained a key consideration during the year, with food and beverage costs increasing by approximately 5% and other hotel operating supplies rising by around 2%. In response, management continued to focus on operational efficiency through tighter procurement controls, streamlining of supplies and a more focused menu offering. These initiatives supported cost management while maintaining service quality and protecting profitability in a challenging cost environment. The year’s results demonstrate the resilience of the hotel’s trading model and its ability to adapt effectively to changing market conditions while continuing to capture growth opportunities. Looking ahead, the business remains focused on further improving Rooms revenue per available room (RevPAR) performance, sustaining strong occupancy levels and leveraging operational efficiencies to deliver continued and sustainable profit growth. The key indicators used to measure the performance of the hotel are RevPAR, total occupancy, and ADR. Page 1
11 HOSPITALITY (BIRMINGHAM) LIMITED
STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Principal risks and uncertainties
The Company’s’ exposure to risk is monitored on an on-going basis by the Directors. The business environment in which we operate continues to be challenging as we are subject to consumer and business spending patterns. Ongoing Economic Crisis The impact of high-cost inflation on both variable and fixed costs, could have a potential negative effect on profitability. To mitigate this, the management of the business has a strict budgetary discipline in place including the development of collaborative working relationships with key suppliers. In addition, volatile costs such as energy and utilities, are fixed wherever possible. Competition The Company’s on-going success is partly dependant on the successful hosting of exhibitions and conferences held at NEC Birmingham and the Birmingham Airport. A risk that the Company faces is if visitors to the key events, corporate clients and travellers are lost to nearby competition the performance of the hotel operation may deteriorate. The Company mitigates this risk by actively seeking to enter into long term contracts with its key corporate customers and by continually improving the quality of its service to attract national and international “transient” travellers. Credit Risk The Company’s credit risk is primarily attributable to its trade debtors. Credit risk is mitigated by a stringent management of customer credit limits by monitoring the aggregate amount and duration of exposure to any one customer depending upon their credit rating. Staffing The challenge posed in retaining a high-quality team of senior managers where there is strong demand for their skills is considered to be significant. The Company has implemented appropriate incentive plans and a programme of training and development to identify, retain and motivate key staff. Liquidity Risk The Company’s policy is to ensure continuity of funding through maintaining significant levels of credit balance in bank accounts. I nterest rate cash flow risk The Company has both interest-bearing assets and interest-bearing liabilities. Interest bearing assets include only cash balances, some of which earn interest at variable rates. Interest bearing liabilities relate to loans from group undertakings. Legislative Risk As an entity providing services to the general public, the directors and management of the Company are subject to legislative requirements that this entails. The Company addresses these issues, primarily through its hotel operator IHG, which has the systems, experience and industry knowledge to ensure correct procedures are in place. The Company ensures that it is covered by all necessary public liability and other insurances. Page 2
11 HOSPITALITY (BIRMINGHAM) LIMITED
STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Financial key performance indicators
2025 2024 Turnover £8.8m £8.5m Gross profit £5.1m £4.8m Operating profit £1.8m £1.9m RevPAR £65 £63 Total occupancy (%) 69% 68% Average Room Rate £94 £93 This report was approved by the board on 3 August 2026 and signed on its behalf.
Bhupendra S Kansagra Director
Page 3
11 HOSPITALITY (BIRMINGHAM) LIMITED
DIRECTORS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The directors present their report and the financial statements for the year ended 31 December 2025.
Directors
The directors who served during the year were:
Bhupendra S Kansagra
Rajni S Kansagra
Ramesh S Kansagra
Directors' responsibilities statement
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies for the Company's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Results and Dividends
The profit for the year, after taxation, amounted to £315,762 (2024 - £251,832).
Future developments
The Directors expect the activities of the Company to continue for the foreseeable future and will continue their efforts to integrate additional revenue steams and cost saving measures in its operations to maximise profitability. Page 4
11 HOSPITALITY (BIRMINGHAM) LIMITED
DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Disclosure of information to auditors
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.
Auditors
Under section 487(2) of the Companies Act 2006, Sopher + Co LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier. This report was approved by the board on 3 August 2026 and signed on its behalf.
Bhupendra S Kansagra Director
Page 5
11 HOSPITALITY (BIRMINGHAM) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF 11 HOSPITALITY (BIRMINGHAM) LIMITED
Opinion
We have audited the financial statements of 11 Hospitality (Birmingham) Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). 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.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. Page 6
11 HOSPITALITY (BIRMINGHAM) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF 11 HOSPITALITY (BIRMINGHAM) LIMITED (CONTINUED)
Other information
The directors are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the Directors' responsibilities statement set out on page 4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so. Page 7
11 HOSPITALITY (BIRMINGHAM) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF 11 HOSPITALITY (BIRMINGHAM) LIMITED (CONTINUED)
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: ∙the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; ∙we identified the laws and regulations applicable to the Company through discussions with directors and other management, and from our commercial knowledge and experience of the hospitality industry sector; ∙we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation; ∙we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and ∙identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: ∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; ∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and ∙understanding the design of the Company’s remuneration policies. To address the risk of fraud through management bias and override of controls, we: ∙performed analytical procedures to identify any unusual or unexpected relationships; ∙tested journal entries to identify unusual transactions; ∙assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and ∙investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: ∙agreeing financial statement disclosures to underlying supporting documentation; ∙enquiring of management as to actual and potential litigation and claims; and ∙reviewing correspondence with HMRC, relevant regulators and the Company’s legal advisors. Page 8
11 HOSPITALITY (BIRMINGHAM) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF 11 HOSPITALITY (BIRMINGHAM) LIMITED (CONTINUED) There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
Use of our report
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed. Martyn Atkinson FCA (Senior statutory auditor) for and on behalf of Sopher + Co LLP Chartered Accountants Statutory Auditors 5 Elstree Gate Elstree Way Borehamwood Hertfordshire WD6 1JD 3 August 2026 Page 9
11 HOSPITALITY (BIRMINGHAM) LIMITED
STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2025
| 2025 | 2024
Note | £ | £
Turnover | 4 | 8,808,165 | 8,462,966
Cost of sales |  | (3,743,067) | (3,643,950)
Gross profit |  | 5,065,098 | 4,819,016
Selling expenses |  | (731,361) | (688,516)
Administrative expenses |  | (2,522,563) | (2,210,300)
Operating profit | 5 | 1,811,174 | 1,920,200
Interest payable and similar expenses | 8 | (1,422,637) | (1,532,492)
Profit before tax |  | 388,537 | 387,708
Tax on profit | 9 | (72,775) | (135,876)
Profit for the financial year |  | 315,762 | 251,832
Other comprehensive income for the year |  |  |
Deficit on revaluation of freehold property |  | (1,079,322) | -
Total comprehensive income for the year |  | (763,560) | 251,832
The notes on pages 13 to 23 form part of these financial statements.
Page 10
11 HOSPITALITY (BIRMINGHAM) LIMITED REGISTERED NUMBER:04056337
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible Fixed Assets | 10 |  | 29,559,693 |  | 29,712,187
Current assets |  |  |  |  |
Stocks | 11 | 40,418 |  | 47,336 |
Debtors: amounts falling due within one year | 12 | 556,504 |  | 591,314 |
Cash at bank and in hand | 13 | 1,319,435 |  | 280,381 |
|  | 1,916,357 |  | 919,031 |
Current liabilities |  |  |  |  |
Creditors: amounts falling due within one year | 14 | (23,526,655) |  | (21,991,038) |
Net current liabilities |  |  | (21,610,298) |  | (21,072,007)
Total assets less current liabilities |  |  | 7,949,395 |  | 8,640,180
Provisions for liabilities |  |  |  |  |
Deferred tax | 16 |  | (1,574,594) |  | (1,501,819)
Net assets |  |  | 6,374,801 |  | 7,138,361
Capital and reserves |  |  |  |  |
Called up share capital | 17 |  | 2 |  | 2
Share premium account | 18 |  | 600,000 |  | 600,000
Revaluation reserve | 18 |  | 3,961,751 |  | 5,080,003
Profit and loss account | 18 |  | 1,813,048 |  | 1,458,356
|  |  | 6,374,801 |  | 7,138,361
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 August 2026.
Bhupendra S Kansagra
Director
The notes on pages 13 to 23 form part of these financial statements. Page 11
11 HOSPITALITY (BIRMINGHAM) LIMITED
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2025
| Called up share capital | Share premium account | Revaluation reserve | Profit and loss account | Total equity
| £ | £ | £ | £ | £
At 1 January 2024 | 2 | 600,000 | 5,390,313 | 896,214 | 6,886,529
Profit for the year | - | - | - | 251,832 | 251,832
Difference between historical cost depreciation charge and the actual depreciation charge for the period calculated on the revalued amount | - | - | 224,185 | (224,185) | -
Transfer between reserves | - | - | (534,495) | 534,495 | -
At 1 January 2025 | 2 | 600,000 | 5,080,003 | 1,458,356 | 7,138,361
Profit for the year | - | - | - | 315,762 | 315,762
Deficit on revaluation of freehold property | - | - | (1,079,322) | - | (1,079,322)
Difference between historical cost depreciation charge and the actual depreciation charge for the period calculated on the revalued amount | - | - | (38,930) | 38,930 | -
At 31 December 2025 | 2 | 600,000 | 3,961,751 | 1,813,048 | 6,374,801
| The notes on pages 13 to 23 form part of these financial statements.
Page 12
11 HOSPITALITY (BIRMINGHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
11 Hospitality (Birmingham) Limited is a private limited company registered in England and Wales. Its registered address is Portland House, 69-71 Wembley Hill Road, Wembley, Middlesex, HA9 8BU. The principal place of business of the Company is Holiday Inn Birmingham Airport - NEC, Coventry Road, West Midlands, Birmingham, B26 3QW. The presentational currency of the financial statements is the Pound Sterling (£). 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | Financial Reporting Standard 102 - reduced disclosure exemptions
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": ∙the requirements of Section 7 Statement of Cash Flows; ∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); ∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); ∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A; ∙the requirements of Section 33 Related Party Disclosures paragraph 33.7. This information is included in the consolidated financial statements of Solai Holdings Ltd as at 31 December 2025 and these financial statements may be obtained from Companies House.
| 2.3 | Going concern
At the reporting date the company had net current liabilities. The company has obtained assurance from Solai Holdings Limited that it will make available sufficient funds to the company so that it will be able to carry on trading and meet its financial obligations as and when they fall due for at least twelve months from the date the accounts are approved. The accounts have therefore been prepared under the going concern basis. Page 13
11 HOSPITALITY (BIRMINGHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.4 | Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover consists mainly of room rentals, event hire, and food & beverage sales. Fees from room rentals are recognised when the rooms are occupied. Event hire fees are recognised when the event takes place. Food and beverage sales are recognised at the point of sale.
| 2.5 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.6 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method.
| 2.7 | Pensions
The Company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds. Page 14
11 HOSPITALITY (BIRMINGHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.8 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.9 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.
|  |  |  | Freehold property | - | 2% | Straight line for the building. Freehold land is not depreciated.
|  |  |  | Fixtures and fittings | - | 25% | reducing balance or 33% straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Page 15
11 HOSPITALITY (BIRMINGHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.10 | Revaluation of tangible fixed assets
Freehold properties are carried at fair value at the date of the last revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date. Fair values are determined from market based evidence normally undertaken either by the directors or by professionally qualified valuers. Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
| 2.11 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.12 | Basic financial instruments
The company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, and loans with related parties. Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties. Interest bearing borrowings classified as basic financial instruments are recognised initially at the present value of future payments discounted at a market rate of interest. Subsequent to initial recognition, they are stated at amortised cost using the effective interest method. Cash is represented by cash in hand and deposits with financial institutions. Page 16
11 HOSPITALITY (BIRMINGHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
In preparing these financial statements, the directors have made the following judgments: a) Freehold properties are carried at fair value at the date of the last revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date. Each year the directors exercise judgment to decide whether the property needs to be revalued. In preparing these financial statements, the directors have considered the following key sources of estimation uncertainty: a) In a year when the directors exercise their judgement to undertake a revaluation of the freehold property, the valuation is estimated by independent professional valuers and is 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. b) Tangible assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and estimated disposal values.
4. | Turnover
The whole of the turnover is attributable to the principal activity of the company, being that of hotel ownership and operation.
| All turnover arose within the United Kingdom.
5. | Operating profit
| The operating profit is stated after charging:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Depreciation of tangible fixed assets | 813,739 | 508,402
| Defined contribution pension costs | 34,316 | 30,540
| Other operating lease rentals | 17,447 | 19,792
6. | Auditors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the Company's auditors for the audit of the Company's financial statements | 17,000 | 15,000
Page 17
11 HOSPITALITY (BIRMINGHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
7. | Employees
| Staff costs were as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 2,411,934 | 2,281,509
| Social security costs | 250,407 | 174,704
| Cost of defined contribution scheme | 34,316 | 30,540
|  | 2,696,657 | 2,486,753
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Administrative staff | 108 | 112
|  | Directors | 3 | 3
|  |  | 111 | 115
| The directors didn't receive any remuneration during the year (2024 - £nil).
8. | Interest payable and similar expenses
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank interest payable | - | 583,086
| Loans from group undertakings | 1,422,637 | 949,406
|  | 1,422,637 | 1,532,492
Page 18
11 HOSPITALITY (BIRMINGHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
9. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | - | 10,000
| Deferred tax |  |
| Origination and reversal of timing differences | 72,775 | 125,876
| Tax on profit | 72,775 | 135,876
| Factors affecting tax charge for the year
| The tax assessed for the year is lower than (2024 - higher than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 388,537 | 387,708
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | 97,134 | 96,927
| Effects of: |  |
| Expenses not deductible for tax purposes | 144 | (27)
| Capital allowances for year in excess of depreciation | (100,668) | (47,384)
| Revenue items for tax that are capitlised in the accounts | (6,678) | -
| Group relief | 10,068 | (39,516)
| Deferred tax | 72,775 | 125,876
| Total tax charge for the year | 72,775 | 135,876
| Factors that may affect future tax charges
There are no material factors that may affect future tax charges. Page 19
11 HOSPITALITY (BIRMINGHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
10. | Tangible fixed assets
|  | Freehold property | Fixtures and fittings | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 January 2025 | 29,000,000 | 2,122,287 | 31,122,287
| Additions | 1,312,266 | 428,300 | 1,740,566
| Revaluations | (1,812,266) | - | (1,812,266)
| At 31 December 2025 | 28,500,000 | 2,550,587 | 31,050,587
| Depreciation |  |  |
| At 1 January 2025 | 229,384 | 1,180,716 | 1,410,100
| Charge for the year on owned assets | 503,560 | 310,178 | 813,738
| On revalued assets | (732,944) | - | (732,944)
| At 31 December 2025 | - | 1,490,894 | 1,490,894
| Net book value |  |  |
| At 31 December 2025 | 28,500,000 | 1,059,693 | 29,559,693
| At 31 December 2024 | 28,770,616 | 941,571 | 29,712,187
| Included in freehold property is freehold land valued at £4,374,998 (2024 - £4,374,998) which is not depreciated. The 2025 valuations were determined by an independent professional valuation carried out on 16 April 2026. The historical cost less depreciation of the freehold property would be £24,538,250 (2024 - £23,690,614) if the property had not been revalued.
11. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Food, beverages and consumables | 40,418 | 47,336
Page 20
11 HOSPITALITY (BIRMINGHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
12. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 387,272 | 426,305
| Other debtors | 30,556 | 44,196
| Prepayments and accrued income | 138,676 | 120,813
|  | 556,504 | 591,314
13. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 1,319,435 | 280,381
14. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 181,866 | 254,207
| Amounts owed to group undertakings | 22,464,774 | 20,893,391
| Corporation tax | - | 10,000
| Other taxation and social security | 402,516 | 411,656
| Other creditors | 363,350 | 336,779
| Accruals and deferred income | 114,149 | 85,005
|  | 23,526,655 | 21,991,038
| Amounts owed to group undertakings comprise a loan from 11 Hospitality Limited, the company's parent undertaking. The loan is unsecured and bears interest at 2.25% above the Bank of England base rate.
15. | Financial instruments
The company only enters into transactions that result in the recognition of basic financial assets and basic financial liabilities. It does not have financial assets and liabilities measured at fair value. Page 21
11 HOSPITALITY (BIRMINGHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
16. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | 1,501,819
| Charged to profit or loss | 72,775
| At end of year | 1,574,594
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | 1,574,594 | 1,501,819
17. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 2 Ordinary shares of £1 each | 2 | 2
18. | Reserves
Share premium account The share premium reserve represents the amount by which the amount received by the company for shares issued exceeds the par value. Revaluation reserve The revaluation reserve represents the cumulative balance of revaluation gains and losses on the investment properties, net of deferred tax, at the reporting date. It is a non-distributable reserve. Profit and loss account The profit and loss reserve contains the cumulative balance of retained profit and losses since the company started trading. It is a distributable reserve. Page 22
11 HOSPITALITY (BIRMINGHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
19. | Pension commitments
The company contributes to a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension charges represent contributions payable to the fund and amounted to £34,316 (2024 - £30,540) during the year. Pension contributions due to the fund at the reporting date were £7,684 (2024 - £6,359).
20. | Commitments under operating leases
| At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 16,879 | 16,879
| Later than 1 year and not later than 5 years | 26,724 | 43,603
|  | 43,603 | 60,482
21. | Related party transactions
| The company has taken advantage of the exemption not to disclose transactions entered into between group entities where both entities are wholly owned within the group.
22. | Post balance sheet events
After the reporting date, the company entered into a £6.45M contractual commitment to undertake refurbishment works to the executive rooms of its hotel property. The refurbishment programme is expected to be completed in July 2026 and forms part of the company’s ongoing asset improvement strategy. As the commitment was entered into after the reporting date, no provision has been recognised in these financial statements.
23. | Controlling party
The company's immediate parent undertaking is 11 Hospitality Limited, a company incorporated in England and Wales with its registered office address at Portland House, 69-71 Wembley Hill Road, Wembley, Middlesex, HA9 8BU. The ultimate parent company is Matel Limited, a company incorporated in Jersey with its registered office address at Oriel House, York Lane, St Helier, Jersey, JE2 4YH. The ultimate controlling party is The Pavel Trust. Solai Holdings Limited is the largest and smallest group which includes the company and for which group accounts are prepared. The consolidated accounts are available from Companies House.
Page 23