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REGISTERED NUMBER: 15097503 (England and Wales)



















Financial Statements

for the Period

25 August 2023 to 31 December 2023

for

COHORT LENDCO III LTD

COHORT LENDCO III LTD (REGISTERED NUMBER: 15097503)






Contents of the Financial Statements
for the Period 25 August 2023 to 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


COHORT LENDCO III LTD

Company Information
for the Period 25 August 2023 to 31 December 2023







DIRECTORS: Robert James Pritchard
Balbinder Singh Sohal
Matthew John Stuchfield Thame





REGISTERED OFFICE: 97 Park Lane
Mayfair
London
W1K 7TG





REGISTERED NUMBER: 15097503 (England and Wales)





AUDITORS: Brindleys Limited
Statutory Auditors
2 Wheeleys Road
Edgbaston
Birmingham
West Midlands
B15 2LD

COHORT LENDCO III LTD (REGISTERED NUMBER: 15097503)

Statement of Financial Position
31 December 2023

Notes £   
CURRENT ASSETS
Debtors 4 63,980,281
Cash in hand 15
63,980,296
CREDITORS
Amounts falling due within one year 5 9,442,411
NET CURRENT ASSETS 54,537,885
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,537,885

CREDITORS
Amounts falling due after more than one year 6 54,460,075
NET ASSETS 77,810

CAPITAL AND RESERVES
Called up share capital 7 100
Retained earnings 8 77,710
SHAREHOLDERS' FUNDS 77,810

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 Profit and Loss Account and Other Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





Balbinder Singh Sohal - Director


COHORT LENDCO III LTD (REGISTERED NUMBER: 15097503)

Notes to the Financial Statements
for the Period 25 August 2023 to 31 December 2023

1. STATUTORY INFORMATION

Cohort Lendco III Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Significant judgements and estimates
The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

Impairment of trade receivables
The group makes an estimate of the recoverable amount of trade and other debtors. When assessing impairment of trade and other receivables, management considers factors including the credit rating of the receivable, the ageing profile of receivables and historical experience.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing agreement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss and other Comprehensive Income, 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 statement of financial position date.


COHORT LENDCO III LTD (REGISTERED NUMBER: 15097503)

Notes to the Financial Statements - continued
for the Period 25 August 2023 to 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Basic financial instruments
Trade and Other Debtors/Creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Subsequent to initial recognition, they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of instrument for a similar debt instrument.

Interest bearing borrowings classified as basic financial instruments

Interest-bearing borrowings are recognised initially at the present value of future payments discounted at a market rate of interest. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost using the effective interest method, less any impairment losses.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the company's cash management are included as a component of cash and cash equivalents for the purpose only of the cash flow statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4. DEBTORS
£   
Amounts falling due within one year:
Bridge loan 9,000,000
Amounts owed by group undertakings 2,466,946
Bridge loan interest receivable 1,013,335
12,480,281

Amounts falling due after more than one year:
Bridge loan 51,500,000

Aggregate amounts 63,980,281

COHORT LENDCO III LTD (REGISTERED NUMBER: 15097503)

Notes to the Financial Statements - continued
for the Period 25 August 2023 to 31 December 2023

4. DEBTORS - continued

The debtors are secured by a first legal mortgage registered at the land registry on the property for which the bridge loan was obtained.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Tax 25,983
Loan amounts due 9,039,925
Other creditors 9,575
Bridge loan interest payable 359,728
Accrued expenses 7,200
9,442,411

The outstanding loan amounts are secured by fixed and floating charges against the bridge loan debtor of the business.

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Loan amounts due 54,460,075

The outstanding loan amounts are secured by fixed and floating charges against the bridge loan debtor of the business.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
85 Ordinary A 1 85
15 Ordinary B 1 15
100

At incorporation the company issued 85 ordinary A and 15 ordinary B shares of £1 at par.

8. RESERVES
Retained
earnings
£   

Profit for the period 77,710
At 31 December 2023 77,710

COHORT LENDCO III LTD (REGISTERED NUMBER: 15097503)

Notes to the Financial Statements - continued
for the Period 25 August 2023 to 31 December 2023

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sajjad Sumar (Senior Statutory Auditor)
for and on behalf of Brindleys Limited

10. RELATED PARTY DISCLOSURES

At the year end, the company had an outstanding loan of £2,466,861 receivable from an associated company, Cohort Capital Ltd, which is registered in England and Wales.

11. AUDITOR LIABILITY LIMITATION AGREEMENT

We have agreed that our aggregate liability, whether to you or any other party, of whatever nature, whether in contract, tort or otherwise, for any losses whatsoever and howsoever caused arising from or in any way
connected with this engagement shall in no circumstances exceed ten times our agreed fee.

12. ULTIMATE CONTROLLING PARTY

The immediate parent company is Cohort Capital Holdings Ltd.

The consolidated group accounts can be found at the registered office of the parent company Cohort Capital Holdings Ltd at 97 Park Lane, Mayfair, London W1K 7TG.

The ultimate controlling party is Avanter Holdings Limited registered in British Virgin Islands.