The directors present their annual report and financial statements for the year ended 31 December 2024.

The principal activity of the company continued to be that of management and maintenance of a business park (Capability Green, Luton).

Due to the nature of the activity carried out by the company, its income is shown as turnover, matches expenditure incurred and any tax payable on taxable income. As a consequence, there is no profit to report.

The benefit of rent and interest income (net of any Corporation Tax) is passed onto the tenants in the form of reduced Service Charge expenditure.

The results for the year are set out on .

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

The financial statements have been prepared on the going concern basis, which the directors believe to be appropriate. The company is expected to continue to generate positive cash flows on its own account for the foreseeable future. This should enable the company to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due for payment. Based on this undertaking. the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;

• make judgements and accounting estimates that are reasonable and prudent;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Capability Green Limited is a private company limited by shares incorporated in England and Wales. The registered office is West Hill House, West End Road, Mortimer Common, Reading, West Berkshire, England, RG7 3TP.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

Ttruehe financial statements have been prepared on the going concern basis, which the directors have believe to be appropriate. The company is expected to continue to generate positive cash flows on its own account for the foreseeable future. This should enable the company to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due for payment.

Based on this undertaking. the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.

Service charges receivable is recognised based on the agreed annual budget for park management costs which is charged to the freeholders or long leaseholders on a quarterly basis. This is adjusted for any over/under spending at year end. Service charges receivable is recognised exclusive of value added tax.

Investment property is included in the balance sheet at fair value as determined by the directors. Revaluation surplus or deficits are recognised in the income statement. Deferred taxation is provided on those gains at the rate expected to apply when the property is sold.

Basic financial assets, which include 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.

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, including creditors, 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

The tax expense represents the sum of the tax currently payable and deferred 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.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The company has no employees and relies entirely on external suppliers to perform necessary functions. Property management, including the operation and management of the business park, as well as security guarding, are outsourced to specialised service providers.

The investment property was revalued on a fair value basis by the Directors at 31 December 2024.

The historical cost of the property is £448,719 (2023: £448,719).

Included in trade debtors are £65,373 (2023: £87,583) of service charges demanded and £3,000 (2023: £5,500) of rental income receivable, which relate to the following year and were demanded in advance.

Included in accruals and deferred income are deferred income of £160,974 (2023: £150,413) for service charges and £4,583 (2023: £4,583) for rental income, which relate to the following year and were demanded in advance.

As of 31 December 2024, there was an accumulation of surplus Service Charges from 2019, 2020, 2021, 2022 and 2023, amounting to £38,102 (2023: £101,294), which is due to be refunded to tenants. However, tenants have the discretion to choose when to apply these repayments against their Service Charge obligations.

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Deferred tax provision of £13,543 (2023: £13,543) is based solely on the revaluation surplus.

The Company provided park management services of £14,187 (2023: £14,187) to Horta Properties Limited – a company in which M Michaelides is a director, £2,762 (2023: £2,636) to Whitwell Investments Limited – a company in which D Shall is a director, £22,374 (2023: £22,374) to MD Capability Green LLP - a company in which A Fall is a member, and £2,409 (2023: £2,299) to E Martin - who is a co-freeholder of one of the units.

These transactions were carried out at arm's length.

The directors do not regard there to be one ultimate controlling party, due to the dilution of the ordinary shares.