Company Registration No. 07829147 (England and Wales)
LYME PROPERTIES LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
LYME PROPERTIES LTD
COMPANY INFORMATION
Directors
Mr R Bosson
Mr Michael Fenton
(Appointed 6 February 2025)
Company number
07829147
Registered office
Coach House, Broughton Hall
Broughton
Nr. Eccleshall
Staffordshire
ST21 6NS
Auditor
DJH Audit Limited
The Glades
Festival Way
Festival Park
Stoke-on-Trent
Staffordshire
ST1 5SQ
LYME PROPERTIES LTD
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 7
Statement of income and retained earnings
8
Balance sheet
9
Notes to the financial statements
10 - 16
LYME PROPERTIES LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The directors present the strategic report for the year ended 31 December 2024.

Fair review of the business

The Company continues to support its subsidiary companies in the development of property. Expenditure increased during the year resulting in a loss of €98k (2023: €2k profit). The net asset position of the group remains strong at €193.0m (2023: €193.1m).

Principal risks and uncertainities, and financial instruments

The Company's principal risk is the recoverability of the investments held. The Company is able to adequately support itself and its subsidiaries complete the developments within a reasonable timeframe. Uncertainty around the price of raw materials price increases have largely been mitigated by the company's subsidiaries due to fixed price contracts.

Key performance indicators

Given the nature of the business, the Company's directors are of the opinion that analysis using other KPIs aside from net assets are not necessary to understand the performance or position of the Company.

On behalf of the board

..............................
Mr R Bosson
Director
Date: .............................................
LYME PROPERTIES LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

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

Principal activities

The principal activity of the company continued to be that of supporting its subsidiary companies involved in the development of property.

Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

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

Mr R Bosson
Mr J Caudwell
(Resigned 6 February 2025)
Mr Michael Fenton
(Appointed 6 February 2025)

Future developments

The Company focusses on facilitating the development of its subsidiary company's investment and development properties. The Company aims to continue and build upon the work carried out during the reporting period.

Auditor

DJH Audit Limited were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of future developments.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
Mr R Bosson
Director
11 September 2025
LYME PROPERTIES LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

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.

LYME PROPERTIES LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LYME PROPERTIES LTD
- 4 -
Opinion

We have audited the financial statements of Lyme Properties L t d (the 'company') for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, the Balance Sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

LYME PROPERTIES LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF LYME PROPERTIES LTD
- 5 -

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

LYME PROPERTIES LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF LYME PROPERTIES LTD
- 6 -

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the company;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions; and

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC and the company’s legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non¬compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at:
https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

LYME PROPERTIES LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF LYME PROPERTIES LTD
- 7 -

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Stacey Parr (Senior Statutory Auditor)
For and on behalf of DJH Audit Limited
15 September 2025
Accountants
Statutory Auditor
The Glades
Festival Way
Festival Park
Stoke-on-Trent
Staffordshire
ST1 5SQ
LYME PROPERTIES LTD
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
2024
2023
Notes
€
€
Administrative expenses
(198,681)
(277,399)
Other operating income
99,530
279,541
Operating (loss)/profit
3
(99,151)
2,142
Interest receivable and similar income
846
6
(Loss)/profit before taxation
(98,305)
2,148
Tax on (loss)/profit
5
-
0
-
0
(Loss)/profit for the financial year
(98,305)
2,148
Retained earnings brought forward
(7,133,700)
(7,135,848)
Retained earnings carried forward
(7,232,005)
(7,133,700)

The profit and loss account has been prepared on the basis that all operations are continuing operations.

LYME PROPERTIES LTD
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 9 -
2024
2023
Notes
€
€
€
€
Fixed assets
Investments
6
195,080,102
195,080,102
Current assets
Debtors
8
57,591,051
26,669,832
Cash at bank and in hand
23,055
948,517
57,614,106
27,618,349
Creditors: amounts falling due within one year
9
(59,741,336)
(29,647,274)
Net current liabilities
(2,127,230)
(2,028,925)
Net assets
192,952,872
193,051,177
Capital and reserves
Called up share capital
10
200,184,877
200,184,877
Profit and loss reserves
(7,232,005)
(7,133,700)
Total equity
192,952,872
193,051,177
The financial statements were approved by the board of directors and authorised for issue on 11 September 2025 and are signed on its behalf by:
Mr R Bosson
Director
Company Registration No. 07829147
LYME PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
1
Accounting policies
Company information

Lyme Properties Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Coach House, Broughton Hall, Broughton, Nr. Eccleshall, Staffordshire, ST21 6NS.

1.1
Accounting convention

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 Euros, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest €.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statement present information about the company as an individual entity and not about its group.

The financial statements of the company are consolidated in the financial statements of Broughton Holdings Limited. These consolidated financial statements are available from its registered office, Coach House, Broughton Hall, Broughton, nr. Eccleshall, Staffordshire, ST21 6NS.

1.2
Going concern

The accounts have been prepared on a going concern basis in spite of the net current liability position at the balance sheet date. Having carried out a detailed review of the company's resources and the challenges presented by the current economic climate, the directors are satisfied that the company has sufficient cash flows to meet its liabilities as they fall due for a period of at least one year from the date of approval of the accounts. This is however dependent on group companies not seeking repayment of the amounts due to them in this period; intercompany loans are repayable, in whole or in part, when the company determines that it has cash which it considers will not be required to meet its liabilities. The ultimate controlling party has indicated his intention to continue to make available such funds as are needed by the company to meet its liabilities as they fall due, and that no companies under his control will seek repayment of the amounts owed to them, for a period of not less than one year from the date that these financial statements are approved or until sufficient funding for the repayment of the debts becomes available. true

As with any company placing reliance on its ultimate controlling party for financial support, the Directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of the financial statements, they have no reason to believe that it will not do so.

1.3
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

LYME PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 11 -

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

1.5
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, 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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

LYME PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 12 -
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 creditors and loans from fellow group companies 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 paymen ts 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Foreign exchange

Transactions in currencies other than Euros are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

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.

Critical judgements

The following estimates and assumptions have had the most significant effect on amounts recognised in the financial statements.

Impairment of investment in subsidiaries

Investments in subsidiaries are measured at cost less accumulated impairment. They are reviewed for impairment at each reporting date. Factors taken into consideration include the economic viability and future financial performance of the subsidiary.

LYME PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 13 -
3
Operating (loss)/profit
2024
2023
Operating (loss)/profit for the year is stated after (crediting):
€
€
Exchange differences apart from those arising on financial instruments measured at fair value through profit or loss
(11,911)
(12,651)
4
Employees

The average monthly number of persons employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0

The company does not have any direct employees, costs are recharged from a group company, Caudwell Ltd on an apportionment basis.

The two directors are not employed by the company under contracts of service and so are not included in the above table. They received no remuneration for their services.

5
Taxation

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
€
€
(Loss)/profit before taxation
(98,305)
2,148
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 25.00%)
(24,576)
537
Group relief
24,576
(537)
Taxation charge for the year
-
-
LYME PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 14 -
6
Fixed asset investments
2024
2023
Notes
€
€
Investments in subsidiaries
7
195,080,102
195,080,102
7
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Caudwell Properties (France) Ltd
England
Ordinary
100.00
Provencal Investments S.A.
Luxembourg (French Permanent Establishment)
Ordinary
100.00
Alba Properties S.A.
Luxembourg (French Permanent Establishment)
Ordinary
100.00
Olive Properties S.A.
Luxembourg (French Permanent Establishment)
Ordinary
100.00
Patio Properties S.A.
Luxembourg (French Permanent Establishment)
Ordinary
100.00
Tennis Properties S.A.
Luxembourg (French Permanent Establishment)
Ordinary
100.00
Marguerite Olivette SCCV
France
Ordinary
100.00

Registered office addresses are as follows:

- For subsidiaries incorporated in England - Coach House, Broughton Hall, Broughton, Nr Eccleshall, ST21 6NS

- For subsidiaries incorporated in Luxembourg: 127, rue de Mühlenbach, L-2168 Luxembourg

- For subsidiaries incorporated in France: 9 Rue Saint Barthelemy 06160 Antibes

8
Debtors
2024
2023
Amounts falling due within one year:
€
€
Amounts owed by group undertakings
57,591,051
26,669,832
9
Creditors: amounts falling due within one year
2024
2023
€
€
Amounts owed to group undertakings
59,550,987
18,134,283
Taxation and social security
30,349
60,261
Accruals and deferred income
160,000
160,000
59,741,336
18,354,544
10
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
€
€
Issued and fully paid
of €1.20 each
100
100
120
120
LYME PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10
Share capital
(Continued)
- 15 -
2024
2023
2024
2023
Preference share capital
Number
Number
€
€
Issued and fully paid
of €1 each
200,184,757
200,184,757
200,184,757
200,184,757
Preference shares classified as equity
200,184,757
200,184,757
Total equity share capital
200,184,877
200,184,877

Ordinary shares have voting rights and are entitled to share pari passu in any dividend or other income distribution of the company.

The preference A shares do not carry voting rights and do not have any right to participate in the profits of the company, including any rights to dividends. The Company shall have the right to redeem all or any of the A shares.

Share capital

Total number of ordinary and preference shares issued.

Profit and loss reserve

Cumulative profit and loss net of distributions to owners.

11
Other Charges

On 21st December 2023 a group company, Caudwell Properties (109) Ltd entered into a Facility Agreement with DB UK Bank Limited for £75m, secured on its development site through a fixed charge and a floating charge over all other assets of the Company. On 17th May 2024 the facility was extended by €120m, secured by cross guarantee and mortgage over the assets of Provencal Investments S.A., a fellow group company.

Consequently Lyme Properties Ltd entered into a Share Pledge Agreement on 17th May 2024 to secure its shares in Provencal Investments S.A.

There is another Share pledge agreement between Lyme Properties, Tennis Properties S.A. and Deustche Bank Luxembourg S.A.

12
Related party transactions

The company has taken advantage of the exemption under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with other group entities where the relationship is one of being wholly owned.

LYME PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 16 -
13
Ultimate controlling party

The immediate and ultimate parent company is Broughton Holdings Limited. Consolidated accounts ar e available for Broughton Holdings Limited from Companies House. Broughton Holdings Limited's registered office is Coach House, Broughton Hall, Broughton, nr Eccleshall, Staffordshire, ST21 6NS.

The ultimate controlling party is John Caudwell.

Broughton Holdings Limited is the parent of the smallest and largest group for which consolidated accounts including Lyme Properties Ltd are prepared.

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