Company registration number 13028875 (England and Wales)
PETERBOROUGH R&D PROPERTY COMPANY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
PETERBOROUGH R&D PROPERTY COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
3 - 7
PETERBOROUGH R&D PROPERTY COMPANY LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
4
2,953,783
1,640,000
Current assets
Debtors
5
102,602
89,051
Cash at bank and in hand
296,195
127,911
398,797
216,962
Creditors: amounts falling due within one year
6
(269,291)
(75,993)
Net current assets
129,506
140,969
Total assets less current liabilities
3,083,289
1,780,969
Creditors: amounts falling due after more than one year
7
(973,421)
(600,000)
Net assets
2,109,868
1,180,969
Capital and reserves
Called up share capital
8
13,773,001
13,964,471
Profit and loss reserves
(11,663,133)
(12,783,502)
Total equity
2,109,868
1,180,969

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 17 October 2025 and are signed on its behalf by:
Dr R Emery
Director
Company Registration No. 13028875
PETERBOROUGH R&D PROPERTY COMPANY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2023
13,964,471
(12,348,829)
1,615,642
Year ended 31 March 2024:
Loss and total comprehensive income for the year
-
(434,673)
(434,673)
Balance at 31 March 2024
13,964,471
(12,783,502)
1,180,969
Year ended 31 March 2025:
Profit and total comprehensive income for the year
-
928,899
928,899
Reduction of shares
8
(191,470)
191,470
-
0
Balance at 31 March 2025
13,773,001
(11,663,133)
2,109,868
PETERBOROUGH R&D PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Peterborough R&D Property Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pathfinder House, St. Mary's Street, Huntingdon, Cambridgeshire, United Kingdom, PE29 3TN.

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. The principal accounting policies adopted are set out below.

Peterborough R&D Property Company Limited is a subsidiary of Cambridge and Peterborough Combined Authority and the results of Peterborough R&D Property Company Limited are included in the consolidated financial statements of Cambridge and Peterborough Combined Authority which are available from www.cambridgeshirepeterborough-ca.gov.uk.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Investment properties

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.

1.4
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.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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.

PETERBOROUGH R&D PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
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. Financial assets classified as receivable within one year are not amortised.

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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable 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.

1.6
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.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

No individuals were employed directly by the company.

PETERBOROUGH R&D PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
4
Investment property
2025
£
Fair value
At 1 April 2024
1,640,000
Additions
148,662
Revaluations
1,165,121
At 31 March 2025
2,953,783

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 18 June 2025 by Wilks Head and Eve, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
54,433
59,608
Other debtors
48,169
29,443
102,602
89,051
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
112,114
954
Other creditors
157,177
75,039
269,291
75,993
PETERBOROUGH R&D PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Borrowings
900,000
600,000
Accrued loan interest
73,421
-
0
973,421
600,000

The long-term loans are secured by fixed charges over the property known as land lying to the south of Bishops Road, Peterborough and registered at the land registry with title number CB465050.

Interest is charged on the loan at the rate of 5.09% per annum. The final repayment date of the loan is 3 February 2038, 15 years from the first drawdown date.

Amounts included above which fall due after five years are as follows:
Payable other than by instalments
973,421
600,000
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
13,773,001 'A' ordinary shares of £1 each fully paid of £1 each
13,773,001
13,773,001
13,773,001
13,773,001
2,200,000 'B' ordinary shares of £1 each partly paid of £1 each
0
191,470
-
0
191,470
13,773,001
13,964,471
13,773,001
13,964,471

On 2 April 2024 a special resolution was passed by the company that the issued share capital of the company be reduced by reducing the share capital of the company in respect of the 'B' ordinary shares from £2,200,000 to £nil by cancelling and exinguishing 2,200,000 partly paid 'B' ordinary shares, resulting in a reduction in paid up share capital of £191,470. This was taken to profit and loss reserves.

9
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 was unqualified.

Senior Statutory Auditor:
Mr Mark Jackson FCA DChA
Statutory Auditor:
Azets Audit Services
10
Related party transactions
PETERBOROUGH R&D PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
10
Related party transactions
(Continued)
- 7 -

During the period Cambridgeshire and Peterborough Combined Authority recharged costs of £63,113 (2024: £92,318) to Peterborough R&D Property Company Limited.

Included within debtors is £54,433 (2024: £59,608) owed from Cambridgeshire and Peterborough Combined Authority. Included within long-term creditors is £973,421 (2024: £600,000) owed to Cambridgeshire and Peterborough Combined Authority at the year end.

11
Parent company

The parent undertaking is Cambridgeshire and Peterborough Combined Authority which owns 100% of the share capital of Peterborough R&D Property Company Limited.

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