REGISTERED NUMBER: 01714046 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

NORTHWOOD REAL ESTATE LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

J C K Anselme

A Bishop

R A Pellatt

N J Turner

REGISTERED OFFICE:

The Blade

Abbey Square

Reading

RG1 3BE

REGISTERED NUMBER:

01714046 (England and Wales)

INDEPENDENT AUDITORS:

Cooper Parry Group Limited

Statutory Auditor

First Floor, Davidson House

Forbury Square

Reading

Berkshire

RG1 3EU

FIXED ASSETS

Tangible assets

4

6,492

-

CURRENT ASSETS

Debtors

5

1,347,702

643,115

Cash at bank and in hand

6

17,517,144

12,485,275

18,864,846

13,128,390

CREDITORS

Amounts falling due within one year

7

18,644,158

13,434,741

NET CURRENT ASSETS/(LIABILITIES)

220,688

(306,351

)

TOTAL ASSETS LESS CURRENT LIABILITIES

227,180

(306,351

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

227,080

(306,451

)

SHAREHOLDERS' FUNDS

227,180

(306,351

)

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

A Bishop - Director

1.	GENERAL INFORMATION

Northwood Real Estate Limited 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 preparation 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.

Going concern

The going concern basis of accounting has been applied. This is considered to be appropriate by the directors.

The directors are satisfied that the Company has adequate resources to continue in operational existence, for the period of at least 12 months from the date that these financial statements were approved. Furthermore, the directors are not aware of any material uncertainties that may cast significant doubt upon the Company's ability to continue as a going concern. The Company also continues to have the support of its parent company Northwood Investors International Limited.

Turnover

Turnover derives from property management wholly undertaken in the UK, which is net of VAT and discounts.

Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for services rendered, net of discounts and VAT. It is recognised on certain costs incurred during the year at a marked-up percentage. These costs are recharged to other related entities.

Tangible assets

Tangible assets are measured at cost, net of accumulated depreciation and any impairment losses.

Tangible assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Depreciation is provided on the following basis:

Fixtures, fittings and equipment - 15% straight line

Computer equipment - 100% in year of acquisition

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the Income Statement.

Impairment of fixed assets

At each reporting period end date, the Company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in the Income Statement, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

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 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 debtors, amounts owed by related undertakings 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors and amounts owed to related undertakings, are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial instruments and include cash in hand. It also includes rent income and tenant deposits collected by the Company on behalf of the related entities it serves as property manager.

Client money and tenant deposits

Client money is held in trust accounts for the benefit of the tenants and landlords of the properties the Company manages within the Company's Statement of Financial Position with an offsetting creditor recognised in order to demonstrate the ownership of these monies. Client monies cannot be utilised for the Company's own activities nor does any future economic benefit accrue to the Company from this cash.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Current taxation

The tax expense represents the sum of the current tax expense. Current tax assets are recognised when tax paid exceeds the tax payable.

Current tax is charged or credited to the Statement of Income and Retained Earnings, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income, or equity.

Current tax assets and current tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.

Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rules that have enacted or substantially enacted by the reporting date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Leasing

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight line basis over the lease term.

Pension costs and other post-retirement benefits

The Company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the Company. The annual contributions payable are charged to the Statement of Income and Retained Earnings.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

8,202

At 31 December 2024

8,202

DEPRECIATION

Charge for year

1,710

At 31 December 2024

1,710

NET BOOK VALUE

At 31 December 2024

6,492

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by related parties

1,267,534

639,058

Other debtors

80,168

4,057

1,347,702

643,115

Amounts owed by related undertakings are unsecured, interest free and repayable on demand.

6.	CASH AT BANK AND IN HAND

2024

2023

£

£

Cash at bank

207,723

8,526

Client money

17,309,421

12,476,749

17,517,144

12,485,275

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

20,974

-

Amounts owed to related parties

408,650

810,765

Tax

12,038

26,496

Social security and other taxes

654,846

94,820

Other creditors

140,398

814

Amounts owed to related

undertakings - client money

17,309,421

12,476,749

Accruals and deferred income

97,831

25,097

18,644,158

13,434,741

Amounts owed to related undertakings are unsecured, interest free and repayable on demand.

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

121,012

1,258

Between one and five years

64,978

-

185,990

1,258

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

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

The Report of the Auditors was unqualified.

Martin Thomas FCCA (Senior Statutory Auditor)

for and on behalf of Cooper Parry Group Limited

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of 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 wholly owned subsidiaries within the group or those carried out under normal market conditions.

12.	ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY

The immediate parent undertaking is Northwood Investors International Limited.

The parent of the smallest and largest group in which financial statements are consolidated is Northwood Investors International Limited whose financial statements are available at Northwood Investors International Limited's registered office 90 Long Acre, London, England, WC2E 9RA.

The ultimate parent company is Northwood GP Holdings LLC, a company registered in the United States of America.

The ultimate controlling party is J Kukral, residing in the United States of America, by virtue of his controlling interest in Northwood GP Holdings LLC.