REGISTERED NUMBER: 15166699 (England and Wales) |
| Cohabs Invest Holding UK Limited |
| Report of the Directors and |
| Consolidated Financial Statements |
| For The Period 26 September 2023 to 31 December 2024 |
REGISTERED NUMBER: 15166699 (England and Wales) |
| Cohabs Invest Holding UK Limited |
| Report of the Directors and |
| Consolidated Financial Statements |
| For The Period 26 September 2023 to 31 December 2024 |
Cohabs Invest Holding UK Limited (Registered number: 15166699) |
Contents of the Consolidated Financial Statements |
For The Period 26 September 2023 to 31 December 2024 |
Page |
Company Information | 1 |
Consolidated Balance Sheet | 2 |
Company Balance Sheet | 3 |
Notes to the Consolidated Financial Statements | 4 |
Cohabs Invest Holding UK Limited |
Company Information |
For The Period 26 September 2023 to 31 December 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Sidings Court |
Lakeside |
Doncaster |
South Yorkshire |
DN4 5NU |
Cohabs Invest Holding UK Limited (Registered number: 15166699) |
Consolidated Balance Sheet |
31 December 2024 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 6 | - |
Investment property | 7 | 26,660,915 |
26,660,915 |
CURRENT ASSETS |
Debtors | 8 | 425,421 |
Cash at bank | 177,715 |
603,136 |
CREDITORS |
Amounts falling due within one year | 9 | 14,390,145 |
NET CURRENT LIABILITIES | (13,787,009 | ) |
TOTAL ASSETS LESS CURRENT LIABILITIES | 12,873,906 |
CREDITORS |
Amounts falling due after more than one year | 10 | (9,948,270 | ) |
PROVISIONS FOR LIABILITIES | 12 | (802,170 | ) |
NET ASSETS | 2,123,466 |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Revaluation reserve | 2,406,511 |
Retained earnings | (283,055 | ) |
SHAREHOLDERS' FUNDS | 2,123,466 |
The financial statements have been prepared 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 20 August 2025 and were signed on its behalf by: |
F Samyn - Director |
Cohabs Invest Holding UK Limited (Registered number: 15166699) |
Company Balance Sheet |
31 December 2024 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 6 |
Investment property | 7 |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT LIABILITIES | ( | ) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( | ) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( | ) |
SHAREHOLDERS' FUNDS | ( | ) |
Company's loss for the financial year | (3,586 | ) |
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 |
Cohabs Invest Holding UK Limited (Registered number: 15166699) |
Notes to the Consolidated Financial Statements |
For The Period 26 September 2023 to 31 December 2024 |
1. | STATUTORY INFORMATION |
Cohabs Invest Holding UK Limited is a |
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
These financial statements reflect the period from incorporation on 26 September 2023 to 31 December 2024. Therefore there are no comparative figures presented. |
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. |
The principal accounting policies adopted are set out below. |
Basis of consolidation |
The consolidated group financial statements consist of the financial statements of the parent company Cohabs Invest Holding UK Limited, together with the single entity controlled by by the parent company Cohabs Invest Co UK Limited (its subsidiary). |
All financial statements are made up to 31 December 2024. The subsidiary is consolidated from its incorporation date of 27 September 2023 to 31 December 2024. |
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the assets transferred. |
Subsidiaries are consolidated in the group's financial statements from the date that control commences until the date that control ceases. |
A subsidiary is and entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Control is presumed to exist when the parent owns 50% or more of the voting power of an entity or controls that entity by virtue of an agreement with other investors which give control of the financial and operating policies of the entity. When these conditions are met, the group accounts for that entity as a subsidiary. Where consideration for a subsidiary is an exchange of shares and certain condition per FRS 102 section 19 paragraph 27 are met, merger accounting has been used. |
Turnover |
Turnover comprises rental income, service charges and other recoveries from tenants of the company's investment properties. Rental income is recognised on an accrual's basis in the period in which it is earned, in accordance with the terms of the lease. |
Investment property |
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. |
Taxation |
| The tax expense represents the sum of the tax currently payable and deferred tax. |
| Current tax |
| The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. |
Cohabs Invest Holding UK Limited (Registered number: 15166699) |
Notes to the Consolidated Financial Statements - continued |
For The Period 26 September 2023 to 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 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 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. |
Going concern |
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements. |
Financial instruments |
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets: |
Basic financial assets, including trade debtors, other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Classification of financial liabilities: |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Basic financial liabilities: |
Basic financial liabilities, including trade creditors, other creditors and bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. |
Share capital |
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds. |
Operating leases: the company as lessee |
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. |
Cohabs Invest Holding UK Limited (Registered number: 15166699) |
Notes to the Consolidated Financial Statements - continued |
For The Period 26 September 2023 to 31 December 2024 |
2. | ACCOUNTING POLICIES - continued |
Foreign currency translation |
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. All other foreign exchange gains and losses are presented in profit or loss within administration expenses. |
3. | CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY |
In the application of the company's accounting policies, the only key estimate made by the directors is investment property valuation: |
Investment properties are professionally valued annually using a combination of rental yield methodology, discounted cashflow methodology and a comparable approach. This uses market rental values capitalised at a market capitalisation rate but there is an inevitable degree of judgement involved in that each property is unique and value can only ultimately be reliably tested in the market itself. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
5. | INDIVIDUAL INCOME STATEMENT |
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
6. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertaking |
£ |
COST |
Additions |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
7. | INVESTMENT PROPERTY |
Group |
Total |
£ |
FAIR VALUE |
Additions | 23,452,234 |
Revaluations | 3,208,681 |
At 31 December 2024 | 26,660,915 |
NET BOOK VALUE |
At 31 December 2024 | 26,660,915 |
Cohabs Invest Holding UK Limited (Registered number: 15166699) |
Notes to the Consolidated Financial Statements - continued |
For The Period 26 September 2023 to 31 December 2024 |
7. | INVESTMENT PROPERTY - continued |
Group |
The fair value of the investment property has been arrived at on the basis of a professional valuation carried out at the year end on an open market value for existing use basis. |
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows: |
2024 |
£ |
Cost | 23,452,234 |
Accumulated depreciation | - |
Carrying amount | 23,452,234 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group |
£ |
Other debtors | 408,250 |
Prepayments | 17,171 |
425,421 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
£ | £ |
Trade creditors | 87,280 |
Amounts owed to group undertakings | 14,161,999 |
Other creditors | 20,862 |
Accruals and deferred income | 120,004 |
14,390,145 |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
Group |
£ |
Bank loans (see note 11) | 9,948,270 |
11. | LOANS |
An analysis of the maturity of loans is given below: |
Group |
£ |
Amounts falling due between one and two years: |
Bank loans - 1-2 years | 62,363 |
Amounts falling due between two and five years: |
Bank loans - 2-5 years | 9,885,907 |
Cohabs Invest Holding UK Limited (Registered number: 15166699) |
Notes to the Consolidated Financial Statements - continued |
For The Period 26 September 2023 to 31 December 2024 |
11. | LOANS - continued |
Bank loans are subject to interest at 6.5% per annum. They are secured by way of charges against the investment properties of the company. |
12. | PROVISIONS FOR LIABILITIES |
Group |
£ |
Deferred tax |
Other timing differences | 802,170 |
Group |
Deferred |
tax |
£ |
Provided during period | 802,170 |
Balance at 31 December 2024 | 802,170 |
13. | RELATED PARTY DISCLOSURES |
| The company and group has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group. |
| Group: |
| At the period end, the group owed fellow group companies £14,162,469. These amounts are unsecured and repayable on demand. £13,506,108 is subject to interest at 3%. The remainder of the balance is interest free. |
| Company: |
| At the period end, the company owed fellow group companies £1,276. These amounts are interest free, unsecured and repayable on demand. |
14. | ULTIMATE CONTROLLING PARTY |
| The immediate parent undertaking and ultimate controlling party is Cohabs Group SA, a company registered in Belgium. |
15. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was |
for and on behalf of Kingswood Allotts Limited, Statutory Auditor |