Company No: 11051235 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

Mr D F Rigny

REGISTERED OFFICE	21 Conduit Street
	London
	W1S 2XP
	United Kingdom

COMPANY NUMBER

11051235 (England and Wales)

	Note	2024		2023
		£		£
Fixed assets
Investments	3	8,765,825		9,496,701
		8,765,825		9,496,701
Current assets
Debtors	4	2,108,561		944,591
Cash at bank and in hand		1,690,605		2,670,658
		3,799,166		3,615,249
Creditors: amounts falling due within one year	5	( 129,329)		( 338,105)
Net current assets		3,669,837		3,277,144
Total assets less current liabilities		12,435,662		12,773,845
Net assets		12,435,662		12,773,845
Capital and reserves
Called-up share capital		10		10
Profit and loss account		12,435,652		12,773,835
Total shareholders' funds		12,435,662		12,773,845

For the financial 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.

Director's responsibilities:

• The members have not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of TwentyTwo Real Estate UK Limited (registered number: 11051235) were approved and authorised for issue by the Director on 29 September 2025. They were signed on its behalf by:

Mr D F Rigny Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

TwentyTwo Real Estate UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 21 Conduit Street, London, W1S 2XP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Foreign currency

Assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of transaction. All differences are taken to the profit and loss account.

Interest income

Interest income from investments is credited to the profit and loss account using the effective interest method.

Dividend income

Dividend income from investments is credited to the profit and loss account when the right to receive payment is established.

Taxation

Current tax
The tax expense for the period comprises current tax only. Tax is recognised in profit or loss, except that a charge attributable to an item or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Fixed asset investments

Investments in equity shares where the fair value can be measured reliably are initially measured at fair value with changes in fair value recognised in the Profit and Loss account. Investments in subsidiaries are measured at cost less impairment.

Within other fixed assets are non-basic financial instruments consisting of corporate bonds and loans which are not held as part of a trading portfolio. The loans and bonds both attract a variable interest charge linked to the future profitability of a business, and therefore a fair value can not be reliably estimated. Corporate bonds and loans have been measured at cost less impairment, if any, until a reliable measure of fair value becomes available.

Other investments are measured at fair value through profit and loss.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Financial instruments are impaired when any indication of impairment has become evident.

Ordinary share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the company during the year, including the director	1		1

3. Fixed asset investments

	2024		2023
	£		£
Subsidiary undertakings	10		10
Other investments and loans	8,765,815		9,496,691
	8,765,825		9,496,701

	Loans		Other investments		Total
	£		£		£
Cost or valuation before impairment
At 01 January 2024	5,792,261		3,704,430		9,496,691
Additions	0		403,956		403,956
Movement in fair value	0		115,206		115,206
Foreign exchange loss	( 269,319)		( 154,222)		( 423,541)
At 31 December 2024	5,522,942		4,069,370		9,592,312
Provisions for impairment
At 01 January 2024	0		0		0
Impairment	0		826,497		826,497
At 31 December 2024	0		826,497		826,497
Carrying value at 31 December 2024	5,522,942		3,242,873		8,765,815
Carrying value at 31 December 2023	5,792,261		3,704,430		9,496,691

Loans

Loans have been measured at cost less impairment. More detail can be found within Note 8.

Other investments

Other investments consist of corporate bonds, short-term highly liquid convertible investments and an open-ended credit fund. One of the corporate bonds held is measured at cost less impairment as they attract a variable interest charge linked to the future profitability of a business, and therefore a fair value can not be reliably estimated. Following impairment review, this corporate bond is considered fully impaired and has a carrying value at the year end of £Nil (2023 - £866,800). The other investments held are measured at fair value through profit and loss and the fair value of these at the year end is £3,242,873 (2023 - £2,837,630).

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.12.2024	Ownership 31.12.2023
TwentyTwo Real Estate Partners Limited	21 Conduit Street, London, W1S 2XP	Real Estate Consultancy	Ordinary shares	100.00%	100.00%

4. Debtors

	2024		2023
	£		£
Amounts owed by group undertakings (note 6)	1,159,155		0
Accrued income	949,396		944,581
Other debtors	10		10
	2,108,561		944,591

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank overdrafts	65		0
Amounts owed to group undertakings (note 6)	0		244,867
Taxation and social security	114,772		88,228
Other creditors	14,492		5,010
	129,329		338,105

6. Related party transactions

Loans - Other investments in Note 5
The company has made loans to related parties by way of common control. The loans are denominated in Euros and attract both a fixed and variable interest charge. The fixed element is at a rate of 0.5% per annum and the variable element is equal to the Borrower's net income generated on the underlying investment. The loans are unsecured.

During the year, amounts were advanced totalling £Nil (2023 - £Nil) and amounts were repaid totalling £Nil (2023 - £Nil). Interest of £28,376 (2023 - £61,813) was recognised during the year.

The carrying amount of the loans at the year end is £5,522,942 (2023 - £5,792,.261).

Bonds - Other investments in Note 5
A subscription for €1,000,000 of Bonds was made to a related party by way of common control. The bond attracts both a fixed and variable yield.

During the year TwentyTwo Real Estate UK Ltd recognised £1,037,791 (2023 - £408,271) of interest receivable. Following an impairment review, the Bonds have been impaired in full reducing their carrying value at year end to £Nil (2023 - £866,800).

Amounts owed by / from group undertakings - Notes 6 and 7
The amounts owed by / from group undertakings are balances owed to / by the subsidiary company and have been concluded under normal market conditions. The amounts owed by group undertakings to the subsidiary company is £1,159,155 (2023 - £Nil). The amounts owed from group undertakings by the subsidiary company is £Nil (2023 - £88,228).