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REGISTERED NUMBER: 15097503 (England and Wales)



















Financial Statements

for the Year Ended 31 December 2024

for

COHORT LENDCO III LTD

COHORT LENDCO III LTD (REGISTERED NUMBER: 15097503)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


COHORT LENDCO III LTD

Company Information
for the Year Ended 31 December 2024







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 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 59,081,018 63,980,281
Cash at bank and in hand 438,344 15
59,519,362 63,980,296
CREDITORS
Amounts falling due within one year 5 56,552,503 9,442,411
NET CURRENT ASSETS 2,966,859 54,537,885
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,966,859

54,537,885

CREDITORS
Amounts falling due after more than one year 6 - 54,460,075
NET ASSETS 2,966,859 77,810

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 2,966,759 77,710
SHAREHOLDERS' FUNDS 2,966,859 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 11 August 2025 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 Year Ended 31 December 2024

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 comprises interest income arising from loans made. Revenue is recognised when:

The company has transferred the significant risks and rewards of ownership of the lending instrument.
It is probable that economic benefits will flow to the company.
The amount of revenue can be measured reliably.

Interest income is recognised on an accrual basis using the effective interest rate method over the term of the lending agreement.

Taxation
Taxation for the year 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 Year Ended 31 December 2024

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 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.

Basic financial instruments
In accordance with Financial Reporting Standard 102 (FRS 102), the recognition and measurement of financial instruments are applied.

Loans
The Loans are non-derivative financial assets with fixed or determinable repayments that are not quoted in an active market.

They are classified as loans and receivables. The Loans are measured on initial recognition at fair value and are subsequently measured at amortised cost using the effective interest rate method. Appropriate allowances for estimated irrecoverable amounts are recognised in the Statement of comprehensive income when there is objective evidence that the assets are impaired. The impairment recognised is measured as the difference between the asset's carrying amount and the present value of estimated future cash flows discounted at the effective interest rate computed at initial recognition on the Loans.

Subsequent increases in recoverable amounts of the Loans, which can be objectively related to an event occurring after previous impairment losses have been recognised, are recorded in the statement of comprehensive income to the extent previous impairment losses have been taken through the statement of comprehensive income. The reversal shall not result in a carrying amount of the Loans that exceeds the amortised cost had no impairment been recognised.

Impairment
The Company assesses at each Statement of financial position date whether there is any objective evidence that a financial asset is impaired. A financial asset or portfolio of financial assets is impaired and an impairment loss incurred if there is objective evidence that an event or events since initial recognition of the asset have adversely affected the amount or timing of future cash flows from the asset.

If there is objective evidence that an impairment loss on a financial asset classified as loans and receivables has been incurred, the Company measures the amount of the loss as the difference between the carrying amount of the asset and the present value of estimated future cash flows from the asset discounted at the original effective interest rate of the instrument at initial recognition.

Impairment losses are recognised in the Statement of comprehensive income and the carrying amount of the financial asset reduced by establishing an allowance for impairment losses. If in a subsequent period the amount of the impairment loss reduces and the reduction can be ascribed to an event after the impairment was recognised, the previously recognised loss is reversed by adjusting the allowance. Once an impairment loss has been recognised on a financial asset, interest income is recognised on the carrying amount using the rate of interest at which estimated future cash flows were discounted in measuring the impairment.

COHORT LENDCO III LTD (REGISTERED NUMBER: 15097503)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Interest receivable and similar income and interest payable and similar charges
Interest income on financial assets that are classified as loans and receivables and interest expense on financial liabilities is determined using the effective interest rate method. The effective interest rate method is a method of calculating the amortised cost of a financial asset or financial liability and of allocating the interest income or interest expense over the expected life of the asset or liability. The effective interest rate is the rate that exactly discounts estimated future cash flows to the instrument's initial carrying amount. In calculating the effective interest rate the Company estimates the cash flows considering all contracted terms (including default interest where relevant) but not future credit losses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Bridge loan 51,500,000 9,000,000
Amounts owed by group undertakings - 2,466,946
Bridge loan interest receivable 7,581,018 1,013,335
59,081,018 12,480,281

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

Aggregate amounts 59,081,018 63,980,281

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
2024 2023
£    £   
Amounts owed to group undertakings 9,707,843 -
Tax 232,125 25,983
Loan amounts due 44,750,193 9,039,925
Other creditors - 9,575
Bridge loan interest payable 1,850,042 359,728
Accrued expenses 12,300 7,200
56,552,503 9,442,411

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

COHORT LENDCO III LTD (REGISTERED NUMBER: 15097503)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
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 2024 2023
value: £    £   
85 Ordinary A 1 85 85
15 Ordinary B 1 15 15
100 100

8. RESERVES
Retained
earnings
£   

At 1 January 2024 77,710
Profit for the year 2,889,049
At 31 December 2024 2,966,759

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 £9,707,927 (2023 - £2,466,861 receivable) payable to an associated company, Cohort Capital Ltd, which is registered in England and Wales.

At the year end, the company had an outstanding loan of £85 (2023 - £85) payable to an associated company, Cohort Capital Holdings 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.

COHORT LENDCO III LTD (REGISTERED NUMBER: 15097503)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

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.