REGISTERED NUMBER: 06671995 (England and Wales)

COGNATUM ESTATES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Chairman's Statement

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

J M Edwards

J Emery

J T Lavin

A W Matthews

G S C Mossop

G A Paul

D Rankin-Hunt

N Sercombe

S B Taylor

REGISTERED OFFICE:

Pipe House

Lupton Road

Wallingford

Oxfordshire

OX10 9BS

REGISTERED NUMBER:

06671995 (England and Wales)

AUDITORS:

Mercer Lewin Ltd

Chartered Accountants and Registered Auditors

6-7 Citibase

New Barclay House

234 Botley Road

Oxford

OX2 0HP

It gives me great pleasure to report on the financial performance of Cognatum Estates Ltd (CEL) for the year ending December 2024.

Of note is the improved position on overall income and expenditure with the accounts now moving to a modest surplus. The company continues its policy of robust cost control whilst striving to maintain the high quality of estate living which our leaseholders expect.

As stated last year CEL continues to reduce its reliance on alternative income as we pursue our goal of ensuring the managing fee meets the cost of delivering our core service.

I also note the improved performance of the other Cognatum businesses all of which delivered a small trading surplus for last year.

Once again, I would like to thank the management, head office and estate teams for their hard work and enthusiasm over the past 12 months.

And thanks as always to Mercer Lewin, our accountants for their robust scrutiny and professional production of these accounts.

Alexander Matthews

September 29th , 2025

FIXED ASSETS

Tangible assets

4

169,973

10,107

Investments

5

7,514

7,514

177,487

17,621

CURRENT ASSETS

Debtors

6

1,116,215

939,020

Cash at bank

7

-

14

1,116,215

939,034

CREDITORS

Amounts falling due within one year

8

1,205,520

871,399

NET CURRENT (LIABILITIES)/ASSETS

(89,305

)

67,635

TOTAL ASSETS LESS CURRENT LIABILITIES

88,182

85,256

CREDITORS

Amounts falling due after more than one year

9

-

24,167

NET ASSETS

88,182

61,089

RESERVES

Income and expenditure account

88,182

61,089

88,182

61,089

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 29 September 2025 and were signed on its behalf by:

A W Matthews - Director

1.	STATUTORY INFORMATION

Cognatum Estates Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The company's income is mainly derived from the management fee which it charges to residents on its managed estates.

The board took a decision to increase management fees from 1 January 2022 to ensure that the management fee was able to meet fixed costs. In addition, related companies have entered into agreements securing future income streams which lead the board to be confident that all inter-company debts can be paid off within 2 years. Projections show that the company will be in an profit-generating position over the next two years.

Based on the above, the directors believe that it is appropriate to prepare accounts on the Going Concern basis.

SIGNIFICANT JUDGEMENTS AND ESTIMATES

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are no judgements that are deemed to have had a significant effect on amounts recognised in the financial statements.

TURNOVER

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

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

TAXATION

Taxation for the year comprises current 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 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.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

25,575

5,030

176,254

206,859

Additions

159,560

-

2,706

162,266

At 31 December 2024

185,135

5,030

178,960

369,125

DEPRECIATION

At 1 January 2024

25,575

5,030

166,147

196,752

Charge for year

-

-

2,400

2,400

At 31 December 2024

25,575

5,030

168,547

199,152

NET BOOK VALUE

At 31 December 2024

159,560

-

10,413

169,973

At 31 December 2023

-

-

10,107

10,107

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

71,793

PROVISIONS

At 1 January 2024

and 31 December 2024

64,279

NET BOOK VALUE

At 31 December 2024

7,514

At 31 December 2023

7,514

The company is the sole member of each of The Beechcroft Trust Limited (BTL) and The English Courtyard Association Limited (ECA), companies incorporated in the United Kingdom. Both BTL and ECA are companies limited by guarantee and have no share capital. Each company is dormant and has no assets apart from some residual freehold interests in land.

ECA in turn owns 100% of the 7 shares of £1 each of Les Blancs Bois Limited, a company which is incorporated in Guernsey and which maintains and administers a private retirement estate on behalf of the owners of properties managed by the company.

The company owns 100% of the share capital (1 ordinary share of £1) of Blue Cedar Homes Management Company Ltd (BCHMC), a non-profit making company incorporated in England and Wales. Its principal activity is the management of retirement housing estates. In the year ended 31 December 2024, its surplus for the year was £23,003 and reserves were £7,722.

The company is also the sole shareholder of the following companies:

- Cognatum Projects Ltd

- Cognatum Property Limited

- Cognatum Services Ltd

- Cognatum Estates II Limited

- Cognatum Estates III Limited

These companies' results for the year and their capital and reserves as at 31 December 2024 were as follows:

Cognatum Projects Ltd - Profit £2,371, Capital and Reserves: £(45,777).

Cognatum Property Limited - Profit £4,472, Capital and Reserves £(307,655)

Cognatum Services Ltd - Profit £423, Capital and Reserves £(72,173).

Cognatum Estates II Limited - Profit £93, Capital and reserves £8,558

Cognatum Estates III Limited - Profit £ 39, Capital and Reserves £40

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

149,378

101,226

Amounts owed by group undertakings

781,162

650,482

Other debtors

185,675

187,312

1,116,215

939,020

7.	CASH AT BANK

In addition to cash shown in the balance sheet the company held funds of £3,632,771 (2023: £3,362,432) on behalf of the owners of developments managed by the company.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank and other loans

762,186

416,195

Trade creditors

368,917

390,445

Taxation and social security

42,346

43,732

Other creditors

32,071

21,027

1,205,520

871,399

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank and other loans

-

24,167

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

The Report of the Auditors was unqualified.

Andrew Churchill Stone (Senior Statutory Auditor)

for and on behalf of Mercer Lewin Ltd