REGISTERED NUMBER: 14423122 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

HOLD PROPCO 1 LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C E D Kempe

S A Macrae

REGISTERED OFFICE:

3rd Floor

21 Perrymount Rd

Haywards Heath

West Sussex

RH16 3TP

REGISTERED NUMBER:

14423122 (England and Wales)

AUDITORS:

Galloways Accounting

Statutory Auditors

15 West Street

Brighton

East Sussex

BN1 2RL

FIXED ASSETS

Investment property

4

12,000,000

7,388,396

CURRENT ASSETS

Debtors

5

22,860

13,627

Cash at bank

4,220

43,953

27,080

57,580

CREDITORS

Amounts falling due within one year

6

(8,328,551

)

(7,484,476

)

NET CURRENT LIABILITIES

(8,301,471

)

(7,426,896

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,698,529

(38,500

)

PROVISIONS FOR LIABILITIES

7

(948,174

)

-

NET ASSETS/(LIABILITIES)

2,750,355

(38,500

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

2,750,353

(38,502

)

SHAREHOLDERS' FUNDS

2,750,355

(38,500

)

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

S A Macrae - Director

C E D Kempe - Director

1.	STATUTORY INFORMATION

Hold Propco 1 Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern

The company is reliant on financial support form related parties. The directors have received confirmation that this financial support will be provided for a period to 31 December 2026 and it is therefore the directors' opinion that the application of the going concern basis is appropriate for the preparation of the company's financial statements.

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit and loss.

Financial instruments

The Company has elected to apply the provisions of Section 11 "Basic Financial Instruments" of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position 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, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Taxation

Taxation for the year 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 year 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

7,388,396

Additions

818,908

Revaluations

3,792,696

At 31 December 2024

12,000,000

NET BOOK VALUE

At 31 December 2024

12,000,000

At 31 December 2023

7,388,396

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

3,792,696

Cost

8,207,304

12,000,000

If investment property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

8,207,304

7,388,396

Investment property was valued on an open market basis on 31 December 2024 by directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

22,860

13,627

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

5,695

16,055

Amounts owed to group undertakings

8,309,206

7,457,121

Other creditors

13,650

11,300

8,328,551

7,484,476

Amounts due to group undertakings are unsecured, have no fixed date of repayment and are repayable on demand. At the balance sheet date, the loans carried interest at rates ranging between 0% and 5.15% per annum.

7.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

948,174

-

Deferred

tax

£

Charge to Income Statement during year

948,174

Balance at 31 December 2024

948,174

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Neil Morris BSc FCCA (Senior Statutory Auditor)

For and on behalf of Galloways Accounting

9.	CONTINGENT LIABILITIES

The company's investment property is held within a collateral pool on behalf of City & Provincial Properties Finance Ltd, a company under common control. The directors do not expect the Company to be called upon in respect of the securities provided.

10.	RELATED PARTY DISCLOSURES

Balances owed to group undertakings and the terms attributable to them are disclosed in note 7 to the financial statements.

The immediate parent undertaking is Hold My Bricks Limited, company registration number 13000263.

The ultimate parent is Hold Topco Limited, company registration number 11307569.