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Registered number: 11812778
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FOR THE YEAR ENDED
31 DECEMBER 2025
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THI 17GS LIMITED
REGISTERED NUMBER:11812778
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STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Debtors due after more than 1 year
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Debtors due within 1 year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 2 to 5 form part of these financial statements.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
THI 17GS Limited is a private company limited by shares, incorporated in England and Wales under the Companies Act 2006. The address of the registered office and registered number can be found on the company information page.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and have prepared the accounts on the assumption that the Company is a going concern.
This is on the grounds that, THI Holdings GmbH will continue to provide financial support for its ordinary activity in the same parameters that it has applied to date and that there is no intention to withdraw these facilities within 12 months of the approval of these financial statements.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Revenue represents rental income received, exclusive of VAT. Rental income is recognised in the period thatthe service is provided, where amounts are received from customers in advance of services provided, theamounts are recorded as deferred income and included within creditors.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Operating leases: the Company as lessee
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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.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Investment property is carried at fair value determined annually by directors and/or external valuers 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.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumption and other sources of estimation uncertainty that have a significant risk of causing material adjustment to the carrying amount of assets and liabilities within the next financial year areas follows:
Fair value of investment property
The fair value of the investment property is based on the valuation carried out by an external independent qualified valuer having recent experience in the location and category of the property being valued. Valuations are based on current prices for similar properties in the same location and condition. These are revalued at the year end date.
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The Company has no employees other than the directors, who did not receive any remuneration (2024 - £NIL).
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The 2025 valuations were made by external valuers, CBRE in accordance with RICS Valuation – Global Standards, on an open market value for existing use basis.
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The historical cost of investment properties at the balance sheet date is £22,249,315 (2024: £22,171,417). The historical cost comprises leasehold improvements since these costs are 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.
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Due after more than one year
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Prepayments and accrued income
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Amounts owed by group undertakings
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Prepayments and accrued income
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Commitments under operating leases
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At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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The auditor's report on the financial statements for the year ended 31 December 2025 was unqualified.
The audit report was signed on 4 August 2026 by Sarah Hallam FCCA (Senior statutory auditor) on behalf of Menzies LLP.
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