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Registered number: 13461841 AMICALA WEYBRIDGE LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
AMICALA WEYBRIDGE LIMITED REGISTERED NUMBER: 13461841 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 5 |  | 1 |  | 1
Investment property |  |  | 18,480,000 |  | 18,480,000
|  |  | 18,480,001 |  | 18,480,001
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 7 | 67,733 |  | 338,071 |
Cash at bank and in hand | 8 | 241,566 |  | 2,269,476 |
|  | 309,299 |  | 2,607,547 |
Creditors: amounts falling due within one year | 9 | (182,163) |  | (329,872) |
Net current assets |  |  | 127,136 |  | 2,277,675
Total assets less current liabilities |  |  | 18,607,137 |  | 20,757,676
Creditors: amounts falling due after more than one year | 10 |  | (30,451,138) |  | (27,089,576)
Net liabilities |  |  | (11,844,001) |  | (6,331,900)
Capital and reserves |  |  |  |  |
Called up share capital | 11 |  | 468,953 |  | 448,553
Share premium account |  |  | 4,220,569 |  | 4,036,969
Profit and loss account |  |  | (16,533,523) |  | (10,817,422)
|  |  | (11,844,001) |  | (6,331,900)
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AMICALA WEYBRIDGE LIMITED REGISTERED NUMBER: 13461841 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2024 The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 October 2025.
J P Fawcett
Director
The notes on pages 3 to 11 form part of these financial statements. Page 2
AMICALA WEYBRIDGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Amicala Weybridge Limited is a private company limited by shares and is incorporated in England and Wales. The address of its registered office is 18 Culford Gardens, London, SW3 2ST. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | Exemption from preparing consolidated financial statements
The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
| 2.3 | Going concern
The Company meets its working capital requirements through the utilisation of its own resources as well as the financial support its receives from its ultimate parent company. The Company’s intermediate parent undertaking, UK Senior Livings Holdings Limited, has confirmed that it will continue to provide such financial support as the Company requires to continue in operational existence and meet its obligations and liabilities as they fall due for a period of at least 12 months from the date of approval of the Company’s financial statements for the year ended 31 December 2024. Based on the Company's forecasts and projections for a period of 12 months from the date of approval of these financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future from funding being received hence the financial statements have been prepared on a going concern basis. Therefore, these financial statements do not include adjustments that would be required should the going concern basis of preparation no longer be appropriate. Page 3
AMICALA WEYBRIDGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.4 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
| 2.5 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Commercial rent receivable Investment property is leased to tenants under operating leases. The rental income receivable under these leases is recognised through profit and loss on a straight line basis over the term of the lease.
| 2.6 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.7 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.
| 2.8 | Investment property
Investment property is carried at fair value determined annually. The valuation is derived from the recent sales for comparable real estate, adjusted as 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 or loss.
| 2.9 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Page 4
AMICALA WEYBRIDGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.10 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.11 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.12 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 5
AMICALA WEYBRIDGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.13 | 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. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors due with the operating cycle fall into this category of financial instruments. Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is 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 creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments 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 creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors 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. Page 6
AMICALA WEYBRIDGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the period that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. Key sources of estimation uncertainty The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities are as follows: Valuation of investment properties Investment properties are carried at fair value at the reporting date. In assessing fair value for investment properties, consideration has been given to comparable market data and the opinions of independent professionals with experience in the location and category of property valued. There is significant disruption and uncertainty in the UK property market from factors such as rises in interest rates and inflation which has inevitably increased the degree of judgment and estimation uncertainty involved in the valuation of investment property at the reporting date. This is reviewed annually by management and the estimates updated accordingly. At the reporting date, investment property amounted to £18,480,000 (2023: £18,480,000).
4. | Employees
| The average monthly number of employees, including directors, during the year was 0 (2023 - 0).
5. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 January 2024 | 1
| At 31 December 2024 | 1
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AMICALA WEYBRIDGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
6. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 1 January 2024 | 18,480,000
| Additions at cost | 3,053,696
| Deficit on revaluation | (3,053,696)
| At 31 December 2024 | 18,480,000
7. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other debtors | 41,182 | 303,241
| Prepayments and accrued income | 26,551 | 34,830
|  | 67,733 | 338,071
8. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 241,566 | 2,269,476
|  | 241,566 | 2,269,476
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AMICALA WEYBRIDGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 12,563 | 310,202
| Amounts owed to group undertakings | 115,236 | 10,157
| Accruals and deferred income | 54,364 | 9,513
|  | 182,163 | 329,872
10. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts owed to group undertakings | 30,451,138 | 27,089,576
|  | 30,451,138 | 27,089,576
| The amounts owed to group undertakings are due for repayment in full in December 2029. Repayments prior to this date can be made at the discretion of the Company without fee or penalty.
11. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 468,953 (2023 - 448,553) Ordinary shares of £1.00 each | 468,953 | 448,553
On 5 August 2024, the Company issued 6,750 Ordinary shares for £10 each. The aggregate nominal value in respect of this share issue was £6,750. On 25 October 2024, the Company issued 13,650 Ordinary shares for £10 each. The aggregate nominal value in respect of this share issue was £13,650. All share issues were for cash consideration. Page 9
AMICALA WEYBRIDGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
12. | Related party transactions
| The Company has taken advantage of the exemptions provided by "Financial Reporting Standard 102" not to disclose transactions with the entities wholly owned within the group. During the year, the Company incurred consultancy fees of £140,183 (2023: £205,846) from DGS Capital Partners LLP, a partnership in which key management personnel of the wider group have an interest. At the reporting date, £6,149 (2023 £46,334) in respect of consultancy fees is included in creditors due within one year. During the year, the Company incurred professional fees of £75,045 (2023: £290,176) from VicAsset Holdings LLC, a company in which the shareholders of the wider group have an interest. These fees have been capitalised as part of the cost of the investment property. At the reporting date, the Company owed £nil (2023: £nil) to VicAsset Holdings LLC in respect of professional fees.
13. | Post balance sheet events
Subsequent to the reporting date, the Company issued further shares as follows: On 17 February 2025, the Company issued 2,000 Ordinary shares for £10 each. The aggregate nominal value in respect of this share issue was £2,000. On 17 February 2025, the Company issued 1 Ordinary shares for £7.75 each. The aggregate nominal value in respect of this share issue was £1. On 27 February 2025, the Company issued 5,683 Ordinary shares for £10 each. The aggregate nominal value in respect of this share issue was £5,683. On 27 February 2025, the Company issued 1 Ordinary shares for £1.40 each. The aggregate nominal value in respect of this share issue was £1. On 24 March 2025, the Company issued 593 Ordinary shares for £10 each. The aggregate nominal value in respect of this share issue was £593. On 24 March 2025, the Company issued 1 Ordinary shares for £7.60 each. The aggregate nominal value in respect of this share issue was £1. On 11 August 2025, the Company issued 450 Ordinary shares for £10 each. The aggregate nominal value in respect of this share issue was £450. These are considered to be non-adjusting subsequent events and accordingly, the financial statements for the year ended 31 December 2024 have not been adjusted to reflect their impact. Page 10
AMICALA WEYBRIDGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
14. | Controlling party
The immediate parent company of the Company is UK Senior Livings Holdings 2 Limited, a company incorporated in Jersey. The address of its registered office is 44 Esplanade, St Helier, Jersey, JE4 9WG. The largest and smallest group in which the results of the company is consolidated is headed by UK Senior Livings Holdings Limited, a company incorporated in Jersey. The registered office is located at 44 Esplanade, St Helier, Jersey, JE4 9WG. The Directors consider the ultimate controlling party to be Oaktree Real Estate Opportunities Fund VIII Holdings 2 (Cayman), L.P which is registered in the Cayman Islands.
15. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified. The audit report was signed on 8 October 2025 by Alexander Morris (Senior Statutory Auditor) on behalf of Nyman Libson Paul LLP.
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