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# PHL CRAWLEY LIMITED

## Company Registration Number:
15494488 (England and Wales)

## Unaudited statutory accounts for the year ended 31 December 2024

## Period of accounts

## Start date: 16 February 2024

## End date: 31 December 2024

# PHL CRAWLEY LIMITED

## Contents of the Financial Statements

for the Period Ended 31 December 2024

Directors report |
Profit and loss |
Balance sheet |
Additional notes |
Balance sheet notes |

# PHL CRAWLEY LIMITED

Directors' report period ended 31 December 2024

The directors present their report with the financial statements of the company for the period ended 31 December 2024

Principal activities of the company

The principal activity of the company is to develop and sell an 83 unit Extra Care apartment scheme at Malthouse Road, Crawley (the “Site”).

Directors

The directors shown below have held office during the period of
1 December 2024 to 31 December 2024

E BAKER
J GILBEY
M KEOGH

The directors shown below have held office during the whole of the period from
16 February 2024 to 31 December 2024

A FERGUSON
D NEWSOME

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
16 September 2025

And signed on behalf of the board by:
Name: D NEWSOME
Status: Director

# PHL CRAWLEY LIMITED

## Profit And Loss Account

for the Period Ended 31 December 2024

| 11 months to 31 December 2024
--- | ---
| £
Turnover: | 0 |
Cost of sales: | 0 |
Gross profit(or loss): | 0
Distribution costs: | 0 |
Administrative expenses: | ( 11,270 ) |
Other operating income: | 0 |
Operating profit(or loss): | (11,270)
Interest receivable and similar income: | 0 |
Interest payable and similar charges: | 0 |
Profit(or loss) before tax: | (11,270)
Profit(or loss) for the financial year: | (11,270)

# PHL CRAWLEY LIMITED

## Balance sheet

As at 31 December 2024

| Notes | 11 months to 31 December 2024
--- | --- | ---
|  | £
Called up share capital not paid: |  | 0 |
Fixed assets
Intangible assets: |  | 0 |
Tangible assets: |  | 0 |
Investments: |  | 0 |
Total fixed assets: |  | 0
Current assets
Stocks: | 3 | 171,819 |
Debtors: | 4 | 23,338 |
Cash at bank and in hand: |  | 250,874 |
Investments: |  | 0 |
Total current assets: |  | 446,031
Prepayments and accrued income: |  | 0 |
Creditors: amounts falling due within one year: | 5 | ( 34,921 ) |
Net current assets (liabilities): |  | 411,110
Total assets less current liabilities: |  | 411,110
Creditors: amounts falling due after more than one year: |  | 0 |
Provision for liabilities: |  | 0 |
Accruals and deferred income: |  | 0 |
Total net assets (liabilities): |  | 411,110
Capital and reserves
Called up share capital: |  | 422,380 |
Share premium account: |  | 0 |
Other reserves: |  | 0 |
Profit and loss account: |  | (11,270 ) |
Total Shareholders' funds: |  | 411,110

The notes form part of these financial statements

# PHL CRAWLEY LIMITED

## Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption 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.

This report was approved by the board of directors on 16 September 2025
and signed on behalf of the board by:

Name: D NEWSOME
Status: Director

The notes form part of these financial statements

# PHL CRAWLEY LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

- ## 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

  Other accounting policies

  Basis of preparing the financial statements These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Cash and cash equivalents Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Going Concern The Company had net assets of £411,110 at 31st December 2024 and incurred a loss of £11,270 for the period from incorporation (16 February 2024) to 31 December 2024. The financial statements have been prepared on a going concern basis, on the assumption of the continuing availability of financial support from the shareholders. The financial statements do not include any adjustments that would arise from a failure to obtain this financial support. Taxation Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date. 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. Other assets - Inventories Other assets are included at the lower of cost and net realisable value and refer to the expenses incurred in relation to property development. Hire purchase and leasing commitments Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. Debtors and creditors receivable / payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Financial instruments The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments and Section 12 ‘Other Financial Instruments Issues’ of FRS102 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 trade and other receivables 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 and other payables, 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. Trade payables 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. 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. Derivatives Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship. A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability. Foreign exchange Transactions in currencies other than pounds sterling 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. 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. Investment in Financial Assets These investments are financial assets at fair value through profit and loss. Related Parties Transactions Ashbourne Capital Partners Limited (“ACP”) and TGA European RE Holdings LLC (“TGAEREH”) are the shareholders of Preferred Housing Living Limited (“PHLL”), the 100% parent of the Company. TGAEREH is owned by Teachers Insurance and Annuity Association of America (“TIAA”). 100% of share capital in note 8 is provided by PHLL Holdco Limited, a 100% subsidiary of PHLL. A Ferguson and D Newsome are shareholders and directors of ACP. M Keogh, J Gilbey and E Baker are employees of subsidiaries of TIAA.

# PHL CRAWLEY LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

- ## 2. Employees

  | 11 months to 31 December 2024
  --- | ---
  Average number of employees during the period | 5 |

# PHL CRAWLEY LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 3. Stocks

| 11 months to 31 December 2024
--- | ---
| £
Stocks | 171,819 |
Payments on account | 0 |
Total | 171,819

# PHL CRAWLEY LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 4. Debtors

| 11 months to 31 December 2024
--- | ---
| £
Trade debtors | 0 |
Prepayments and accrued income | 0 |
Other debtors | 23,338 |
Total | 23,338
Debtors due after more than one year: | 0 |

# PHL CRAWLEY LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 5. Creditors: amounts falling due within one year note

| 11 months to 31 December 2024
--- | ---
| £
Bank loans and overdrafts | 0 |
Amounts due under finance leases and hire purchase contracts | 0 |
Trade creditors | 17,848 |
Taxation and social security | 0 |
Accruals and deferred income | 17,073 |
Other creditors | 0 |
Total | 34,921