TL PROP FINCO LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-01-15 (in 8mo)
Last made up 2026-01-01
Watchouts
None on the register
Cash
£9M
Latest balance sheet
Net assets
£33M
Equity attributable
Employees
0
Average over period
Profit before tax
-£12M
Period ending 2024-12-31
Net assets
1-year trend · vs Industrials median
Accounts
1-year trend · latest reflected 2024-12-31
| Metric | Trend | 2024-12-31 |
|---|---|---|
| Turnover | £14,000,000 | |
| Operating profit | £4,400,000 | |
| Profit before tax | -£11,800,000 | |
| Net profit | -£11,800,000 | |
| Cash | £8,600,000 | |
| Total assets less current liabilities | — | |
| Net assets | £33,200,000 | |
| Equity | £33,200,000 | |
| Average employees | 0 | |
| Wages | — |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-12-31 |
|---|---|---|
| Operating margin | 31.4% | |
| Net margin | -84.3% | |
| Gearing (liabilities / total assets) | 85.5% | |
| Current ratio | 1.69x | |
| Interest cover | 0.27x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“In assessing the appropriateness of the going concern assumption, the Board has considered the possible cash requirements of the Company to the end of 2026, taking into account current economic and political pressures, the range of trading outcomes and mitigating actions which could be taken. Further details are set out in Note 2. Based on the above, the Directors believe that it remains appropriate to adopt the going concern basis in preparing the financial statements. In reaching this conclusion, the Directors noted the Company's strong trading and cash performance in the year, the substantial funding available to the Group of which the Company is part of, and the range of severe but plausible downside scenarios.”
Group structure
- TL PROP FINCO LIMITED · parent
- TL Propco1 Limited 100%
- TL Propco2 Limited 100%
- TL Propco3 Limited 100%
- Grove Property Unit Trust 02 100%
- Grove Property Unit Trust 05 100%
- Grove Property Unit Trust 09 100%
- Grove Property Unit Trust 11 100%
Significant events
- “2nd January 2024, Travelodge "PropCo" Group (under TL Prop Holdco Limited), a newly formed property holding division of Thames & London Holdco Limited (the Travelodge Group) was incorporated.”
- “28th February 2024 Travelodge PropCo Group acquired 66 Travelodge branded hotels from the Travelodge Group's largest landlord, LXI REIT plc., for £210m”
- “Travelodge PropCo FinCo (the Company) secured £105m of bank financing which it used entirely to finance its direct subsidiaries.”
- “The Company also received loan facilities from its immediate parent company of £115.2m (£37m interest bearing and £78.2m interest free), with support from our owner Golden Tree Asset Management, of which £111.4m was lent to its direct subsidiaries with a further £3.8m relating to transaction branded costs.”
- “On 28 February 2024, the Company entered a 2-year interest rate cap to limit the interest exposure on the £105m bank financing to 6%.”
- “On 28 February 2024, following the drawdown of the bank loan, National Westminster Bank PLC was granted a fixed and floating charge over all the property or undertaking of the Company and further charges over its subsidiaries.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 2 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| LAING, Andrew Patrick | Secretary | 2026-04-01 | — | — |
| BOYDELL, Joanna | Director | 2024-01-02 | Mar 1969 | British |
| REIDY, Raymond Andrew | Director | 2025-08-20 | Oct 1969 | British |
Show 2 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| THOMAS, Katherine Anna Ashford | Secretary | 2024-01-02 | 2026-03-31 |
| CONNOLLY, Aidan Joseph, Mr. | Director | 2024-01-02 | 2025-08-21 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Tl Prop Holdco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2024-01-02 | Active |
Filing timeline
Last 10 of 10 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-12 | TM02 | officers | Termination secretary company with name termination date | |
| 2026-04-12 | AP03 | officers | Appoint person secretary company with name date | |
| 2026-01-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-09-02 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-02 | TM01 | officers | Termination director company with name termination date | |
| 2025-05-07 | AA | accounts | Accounts with accounts type group | |
| 2025-01-15 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-03-01 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-01-04 | AA01 | accounts | Change account reference date company current shortened | |
| 2024-01-02 | NEWINC | incorporation | Incorporation company |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- Capital events
- 0
- Officers appointed
- 2
- Officers resigned
- 2
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
Latest filed period vs the prior one