Company registration number 11683110 (England and Wales)
TAVISTOCK INVESTMENT 1 LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
TAVISTOCK INVESTMENT 1 LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
TAVISTOCK INVESTMENT 1 LIMITED
BALANCE SHEET
AS AT 30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
7,082
10,518
Investment properties
4
8,423,600
8,808,600
8,430,682
8,819,118
Current assets
Debtors
5
383,437
390,177
Cash at bank and in hand
132,967
46,656
516,404
436,833
Creditors: amounts falling due within one year
6
(2,144,092)
(2,159,451)
Net current liabilities
(1,627,688)
(1,722,618)
Total assets less current liabilities
6,802,994
7,096,500
Provisions for liabilities
(1,573,144)
(1,669,394)
Net assets
5,229,850
5,427,106
Capital and reserves
Called up share capital
100
100
Other reserves
4,718,379
5,007,129
Profit and loss reserves
511,371
419,877
Total equity
5,229,850
5,427,106

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 7 October 2025 and are signed on its behalf by:
Mr P O Van Reyk
Director
Company Registration No. 11683110
TAVISTOCK INVESTMENT 1 LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2025
- 2 -
Share capital
Other reserves
Profit and loss reserves
Total
£
£
£
£
Balance at 1 May 2023
100
5,007,129
350,296
5,357,525
Year ended 30 April 2024:
Profit and total comprehensive income for the year
-
-
69,581
69,581
Balance at 30 April 2024
100
5,007,129
419,877
5,427,106
Year ended 30 April 2025:
Loss and total comprehensive income for the year
-
-
(197,256)
(197,256)
Other movements
-
(288,750)
288,750
-
Balance at 30 April 2025
100
4,718,379
511,371
5,229,850
TAVISTOCK INVESTMENT 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -
1
Accounting policies
Company information

Tavistock Investment 1 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 7 Dacre Street, London, England, SW1H 0DJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
33% reducing balance

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.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss and transferred, net of tax, to o ther reserves.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets. A provision is made for any impairment loss and taken to the profit and loss account.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

TAVISTOCK INVESTMENT 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments

The company only enters into Basic financial instrument transactions.

Financial instruments are recognised in the company's balance sheet 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 debtors 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 transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. The financial liabilities are subsequently measured at amortised cost using the effective interest rate method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in the tax assessments.

Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

The company's liability for current and deferred tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax arising in respect of revaluation gains and losses of investment properties is transferred to or from Other reserves respectively.

TAVISTOCK INVESTMENT 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 5 -
1.10
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.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (ex cluding directors) employed by the company during the year was:

2025
2024
Number
Number
Total
-
0
-
0

The company is operated by the directors, who are remunerated through other group entities.

3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 May 2024 and 30 April 2025
95,191
Depreciation and impairment
At 1 May 2024
84,673
Depreciation charged in the year
3,436
At 30 April 2025
88,109
Carrying amount
At 30 April 2025
7,082
At 30 April 2024
10,518
4
Investment property
2025
£
Fair value
At 1 May 2024 and 30 April 2025
8,423,600
TAVISTOCK INVESTMENT 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
4
Investment property
(Continued)
- 6 -

The investment property has been last valued on an open market basis on the 29th November 2024 by Savills UK Limited which makes reference to market evidence of transaction prices for similar properties. The valuation was made on behalf of the companies funders.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,480
-
0
Amounts owed by group undertakings
380,000
380,000
Other debtors
1,957
10,177
383,437
390,177
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
1,196
1,182
Amounts owed to group undertakings
2,050,266
2,048,015
Corporation tax
14,459
25,277
Other creditors
78,171
84,977
2,144,092
2,159,451
7
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Investment property revaluations
1,573,144
1,669,394
2025
Movements in the year:
£
Liability at 1 May 2024
1,669,394
Credit to profit or loss
(96,250)
Liability at 30 April 2025
1,573,144
TAVISTOCK INVESTMENT 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
7
Deferred taxation
(Continued)
- 7 -

Deferred tax is provided at the prevailing corporation tax rate, set in the Finance Bill 2021.

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:
· give a true and fair view of the state of the company's affairs as at 30 April 2025 and of its profit for the year then ended;
· have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
· have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Mark Rogers FCCA
Statutory Auditor:
HJS (Reading) Limited
Date of audit report:
16 October 2025
9
Financial commitments, guarantees and contingent liabilities

The property held within this company is secured against the loan held within Kitewood Investment Holdings Limited.

10
Related party transactions

The company has taken advantage of the exemption available under FRS 102 paragraph 33.1a whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.

Bank l oans held within Kitewood Investment Holdings Limited are secured via a fixed and floating charge upon the investment property of the company.

11
Parent company

Parent Company

The parent company is Kitewood Investment Holdings Limited and its registered office is 7 Dacre Street, London, SW1H 0DJ.

Ultimate Parent Company

The ultimate parent company is Kitewood Holdings Limited, a company registered in England & Wales.

The smallest and largest group for which the results of the company are included i s the consolidated accounts of Kitewood Holdings Limited. These consolidated accounts are available from their registered office at 7 Dacre Street, London, SW1H 0DJ.

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