For the financial year ended 31 March 2025 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

PD EBT Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Cabourn House, Station Street, Bingham, Nottinghamshire, United Kingdom, NG13 8AQ.

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The company is now in a net current assets position at 31 March 2025 of £224,661 (2024 : net current liabilities £16,654,657). At 31 March 2024 the bank funding of £16,500,000 was all classified as falling due within one year resulting in a net liability position. The directors have restructured the company's property portfolio and the bank facility was renewed during 2025 resulting in the move to net current assets. The 2024 accounts were prepared on a going concern basis as the directors were confident the company could meet its financial obligations.

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.

Turnover represents net invoiced rental income, excluding value added tax.

Where the rental period straddles the financial year end, the proportion that relates to the following year is deferred. Equally if the invoice falls in the following year, any element of the rent that relates to the current year is accrued.

In the case of rent reviews, the retrospective element is realised where the rent memorandum has been signed by both tenant and landlord before the accounts are approved by the directors.

Investment property is shown at fair value. Fair value is determined by referring to open market valuations of the property portfolio updated as considered necessary by the directors to adjust for current market conditions. Revaluation surpluses and deficits are recognised in the income statement. Deferred taxation is provided on these gains or losses at the rate expected to apply when the property is sold. The gains or losses are transferred to investment revaluation reserve to emphasise that such gains are not realised.

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.

The Company uses a derivative financial instrument to manage its exposure to interest rate risk.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each balance sheet date. The fair value of the derivative instruments have been estimated using valuation techniques which use market and non-market inputs to estimate the expected discounted cashflows. The resulting gain or loss is recognised in the Income statement.

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.

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 average monthly number of persons (including directors) employed by the company during the year was:

The investment property is stated at cost as the directors consider this the fair value of the property at 31 March 2025.

Under interest rate swap-contracts, the Company agreed to exchange the difference between fixed and floating rate interest amounts calculated on agreed notional principal amounts. Such contracts enabled the Company to mitigate the exposure to unfavourable interest rate movements in relation to its floating rate borrowings. These agreements have now ended.

At 31 March 2024, the company had an interest rate swap contract with a notional principal value of £10m and a fixed interest rate of 0.5%. During the year ended 31 March 2025, the contract matured and the fair value of £241,711 as at the last reporting date has been charged to the profit and loss account.

The interest rate swaps settled on a quarterly basis. The floating rate on the interest rate swaps is three months using SONIA rates. The Company settles the difference between the fixed and floating interest rate on a net basis.

The bank loan is secured against a first legal mortgage over the investment property.