PHH UK 2 Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: 14769492

		31 December 2024		31 December 2023
	Notes	£	£	£	£
FIXED ASSETS
Investments	4		472,823		472,823

			472,823		472,823
CURRENT ASSETS
Debtors	5	55,206,768		57,132,960
Cash at bank and in hand		447		789

		55,207,215		57,133,749
Creditors: Amounts Falling Due Within One Year	6	(20,920,969 )		(17,232,574 )

NET CURRENT ASSETS (LIABILITIES)			34,286,246		39,901,175

TOTAL ASSETS LESS CURRENT LIABILITIES			34,759,069		40,373,998

Creditors: Amounts Falling Due After More Than One Year	7		(38,805,570 )		(40,020,281 )

NET (LIABILITIES)/ASSETS			(4,046,501 )		353,717

CAPITAL AND RESERVES
Called up share capital	9		102		102
Profit and Loss Account			(4,046,603 )		353,615

SHAREHOLDERS' FUNDS			(4,046,501)		353,717

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PHH UK 2 Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 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 in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Paulus Steeghs

Director

18th September 2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

PHH UK 2 Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14769492 . The registered office is 17 Cavendish Square, London, W1G 0PH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Investments

Investments in subsidiaries are held at cost less impairment.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 3)

4. Investments

	Subsidiaries
	£
Cost
As at 1 January 2024	472,823

As at 31 December 2024	472,823

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	472,823

As at 1 January 2024	472,823

5. Debtors

	31 December 2024	31 December 2023
	£	£
Due within one year
Amounts owed by group undertakings	18,436,995	19,922,329
Other debtors	17,668	14,506

	18,454,663	19,936,835
Due after more than one year
Amounts owed by group undertakings	36,752,105	37,196,125

	55,206,768	57,132,960

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PHH UK 2 Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Creditors: Amounts Falling Due Within One Year

	31 December 2024	31 December 2023
	£	£
Trade creditors	34,862	2,197
Amounts owed to group undertakings	20,886,107	17,230,377

	20,920,969	17,232,574

7. Creditors: Amounts Falling Due After More Than One Year

	31 December 2024	31 December 2023
	£	£
Other loans	38,805,570	40,020,281

8. Secured Creditors

Of the creditors falling due within and after more than one year the following amounts are secured.

Other loans are secured by a fixed and floating charge over the company's assets.

	31 December 2024		31 December 2023
	£		£
Other Creditors	38,805,570		40,020,281

9. Share Capital

	31 December 2024	31 December 2023
	£	£
Allotted, Called up and fully paid	102	102

10. Ultimate Controlling Party

The company's ultimate controlling party is Jonathan Steiner by virtue of his ownership of 99% of the issued share capital in the company.

11. Going Concern

As at the balance sheet date the company has net liabilities. These financial statements have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to support the company for the foreseeable future.

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