REGISTERED NUMBER: 03122173 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

HEATHDEAL LIMITED

T/A

HOLIDAY INN EXPRESS

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

36,053,007

36,056,251

Investments

6

16,600

16,600

36,069,607

36,072,851

CURRENT ASSETS

Stocks

570

1,068

Debtors

7

12,356,153

7,424,434

Cash at bank and in hand

3,803,308

7,519,131

16,160,031

14,944,633

CREDITORS

Amounts falling due within one year

8

(5,198,340

)

(1,188,320

)

NET CURRENT ASSETS

10,961,691

13,756,313

TOTAL ASSETS LESS CURRENT LIABILITIES

47,031,298

49,829,164

CREDITORS

Amounts falling due after more than one year

9

-

(4,580,700

)

PROVISIONS FOR LIABILITIES

10

(5,233,602

)

(5,281,417

)

NET ASSETS

41,797,696

39,967,047

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

21,193,388

21,313,654

Retained earnings

20,604,208

18,653,293

SHAREHOLDERS' FUNDS

41,797,696

39,967,047

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 19 November 2025 and were signed on its behalf by:

K Bhimji - Director

1.	STATUTORY INFORMATION

Heathdeal Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

03122173

Registered office:

87 South Lambeth Road

Vauxhall

London

SW8 1RN

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is recognised when satisfying performance obligations of hotel services, and when control is transferred in respect of goods connected to hotel services.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

With the exception of freehold property, tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Freehold property is carried at revalued amount, being revaluation value at the date of valuation. Revaluations are performed with sufficient regularity to ensure that the carrying amounts do not differ materially from those that would be determined using revaluation values at the end of each reporting period.

Any revaluation increase in the carrying amount of freehold property is recognised in other comprehensive income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss, in which case the increase is credited to profit and loss to the extent of the decrease previously expended. Decreases that offset previous increases of the same asset are charged in other comprehensive income and debited against revaluation reserve in equity; decreases exceeding the balance in revaluation reserve relating to an asset are recognised in profit or loss.

Freehold property is not depreciated as the residual value is deemed to be materially the same as the current valuation.

Improvements to property has been combined with freehold property as part of this initial revaluation. The use of a policy of revaluation provides more relevant and reliable information about the value of the property owned by the company.

Investments in associates

Investments in subsidiary undertakings and associates are stated at cost less any provisions for impairment in value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.

EMPLOYEES

The average number of employees during the year was 13 (2024 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

1,100,000

AMORTISATION

At 1 April 2024

and 31 March 2025

1,100,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST OR VALUATION

At 1 April 2024

36,000,000

447,960

294,112

36,742,072

Additions

191,259

-

6,910

198,169

Revaluations

(191,259

)

-

-

(191,259

)

At 31 March 2025

36,000,000

447,960

301,022

36,748,982

DEPRECIATION

At 1 April 2024

-

433,258

252,563

685,821

Charge for year

-

2,499

7,655

10,154

At 31 March 2025

-

435,757

260,218

695,975

NET BOOK VALUE

At 31 March 2025

36,000,000

12,203

40,804

36,053,007

At 31 March 2024

36,000,000

14,702

41,549

36,056,251

If freehold property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

10,884,860

10,693,600

Freehold property was valued on an open market basis on 31 March 2025 by the directors.

6.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 April 2024

and 31 March 2025

16,600

NET BOOK VALUE

At 31 March 2025

16,600

At 31 March 2024

16,600

7.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

1,626

-

Amounts owed by group undertakings

9,364,398

4,423,266

Other debtors

40,129

51,168

9,406,153

4,474,434

Amounts falling due after more than one year:

Amounts owed by group undertakings

2,950,000

2,950,000

Aggregate amounts

12,356,153

7,424,434

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

4,450,000

-

Trade creditors

344,888

210,063

Amounts owed to group undertakings

23,420

97,340

Taxation and social security

289,554

453,536

Other creditors

90,478

427,381

5,198,340

1,188,320

The bank loan is secured by a legal charge over the company's freehold property and by fixed and floating charge over current and future property and assets of the company.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

4,580,700

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

5,233,602

5,281,417

Deferred

tax

£

Balance at 1 April 2024

5,281,417

Utilised during year

(47,815

)

Balance at 31 March 2025

5,233,602

11.	CONTINGENT LIABILITIES

The company received funds from the IHG franchisor towards capital expenditure connected with hotel refurbishment required to meet IHG standards. This would be repayable, on a reducing balance basis, if the company were to breach its agreement with IHG in relation to the way in which the funds are spent. The total funds received amounted to £200,000. The amortised contingent liability as at 31 March 2025 stands at £20,000.