Company No: 14145715 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	31,002,687		15,823,912
		31,002,687		15,823,912
Current assets
Debtors	4	1,126,459		504,438
Cash at bank and in hand		1,499,117		34,986
		2,625,576		539,424
Creditors: amounts falling due within one year	5	( 2,780,316)		( 3,870,538)
Net current liabilities		(154,740)		(3,331,114)
Total assets less current liabilities		30,847,947		12,492,798
Creditors: amounts falling due after more than one year	6	( 29,820,387)		( 13,330,011)
Net assets/(liabilities)		1,027,560		( 837,213)
Capital and reserves
Called-up share capital	7	1		1
Profit and loss account		1,027,559		( 837,214 )
Total shareholder's funds/(deficit)		1,027,560		( 837,213)

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 member has 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 Orkacap II (Project Neville) Ltd (registered number: 14145715) were approved and authorised for issue by the Director. They were signed on its behalf by:

R Malhotra Director

30 September 2025

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

Orkacap II (Project Neville) Ltd (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 35 Ballards Lane, London, N3 1XW, United Kingdom.

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 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 £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Plant and machinery etc.	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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 profit or loss.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like other debtors and creditors, loans from banks and loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the company during the year	0		0

3. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost/Valuation
At 01 January 2024	15,823,912		0		15,823,912
Additions	148,573		5,478		154,051
Revaluations	15,025,637		0		15,025,637
At 31 December 2024	30,998,122		5,478		31,003,600
Accumulated depreciation
At 01 January 2024	0		0		0
Charge for the financial year	0		913		913
At 31 December 2024	0		913		913
Net book value
At 31 December 2024	30,998,122		4,565		31,002,687
At 31 December 2023	15,823,912		0		15,823,912

4. Debtors

	2024		2023
	£		£
Trade debtors	318,816		276,711
Amounts owed by group undertakings	7,680		0
Other debtors	799,963		227,727
	1,126,459		504,438

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	923,315		0
Amounts owed to group undertakings	1,378,395		3,121,156
Other creditors	478,606		749,382
	2,780,316		3,870,538

6. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	19,210,000		10,000,000
Amounts owed to group undertakings	0		504,455
Other creditors	10,610,387		2,825,556
	29,820,387		13,330,011

The company has granted a legal charges over its property in favour the lenders as security for the loans given.

7. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 0.001 each (2023: 1 share of £ 1.00 )	1		1

8. Related party transactions

Transactions with owners holding a participating interest in the entity

	2024		2023
	£		£
Amounts owed to entities with control, joint control or significant influence over the company	1,270,595		3,121,156

Other related party transactions

	2024		2023
	£		£
Amounts owed to related parties	313,047		315,929

9. Ultimate controlling party

Parent Company:

Orkacap II LLP

35 Ballards Lane London N3 1XW