Company registration number 15060257 (England and Wales)
P&P SPV XENIA LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
P&P SPV XENIA LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
P&P SPV XENIA LTD
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
Notes
£
£
Fixed assets
Investment property
4
2,434,294
Current assets
Debtors
5
261,980
Cash at bank and in hand
30,884
292,864
Creditors: amounts falling due within one year
6
(1,207,661)
Net current liabilities
(914,797)
Total assets less current liabilities
1,519,497
Creditors: amounts falling due after more than one year
7
(1,432,000)
Net assets
87,497
Capital and reserves
Called up share capital
8
100
Profit and loss reserves
87,397
Total equity
87,497

For the financial period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

The financial statements were approved and signed by the director and authorised for issue on 10 November 2025
M Peter
Director
Company registration number 15060257 (England and Wales)
P&P SPV XENIA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

P&P SPV Xenia Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 12 Hay Hill, London, United Kingdom, W1J 8NR.

1.1
Reporting period

These financial statements have been prepared for the 17 month period from 9 August 2023 (date of incorporation) to 31 December 2024.

1.2
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 investment properties at fair value. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover comprises of rental income from tenants of the company's investment properties.

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.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash at bank.

1.6
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.

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.

P&P SPV XENIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies 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.

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.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

1.8
Taxation

The tax expense represents the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
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
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is 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

There were no employees during current period.

P&P SPV XENIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 4 -
4
Investment property
2024
£
Fair value
At 9 August 2023
-
0
Additions
2,434,294
At 31 December 2024
2,434,294

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 December 202 4 by the director. The valuation was made on an open market value basis by reference to market evidence of transactions prices for similar properties.

At the period end, the director deems the fair value to be historical cost.

EFG Private Bank Limited hold a fixed and floating charge over the value of the investment property.

5
Debtors
2024
Amounts falling due within one year:
£
Amounts owed by group undertakings
121,500
Other debtors
130,237
Prepayments
10,243
261,980
6
Creditors: amounts falling due within one year
2024
£
Trade creditors
9,738
Amounts owed to group undertakings
56,900
Corporation tax
2,083
Other creditors
1,116,570
Accruals
22,370
1,207,661

Other creditors includes a balance of £1,116,570 owed to the director of the company. The balance is interest free and payable on demand.

P&P SPV XENIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 5 -
7
Creditors: amounts falling due after more than one year
2024
£
Bank loans and overdrafts
1,380,000
Other creditors
52,000
1,432,000

The bank loan is subject to interest at 1.9% plus SONIA and repayable on 8 March 2027. The loan is secured by fixed and floating charge over the property and by personal guarantee from the director.

8
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of 1p each
10,000
100

On incorporation, the company issued 10,000 ordinary shares of £0.01 each at par.

2024-12-31 2023-08-09 false false false 10 November 2025 CCH Software CCH Accounts Production 2024.310 No description of principal activity M Peter 0 15060257 2023-08-09 2024-12-31 15060257 2024-12-31 15060257 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 15060257 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 15060257 core:CurrentFinancialInstruments 2024-12-31 15060257 core:Non-currentFinancialInstruments 2024-12-31 15060257 core:ShareCapital 2024-12-31 15060257 core:RetainedEarningsAccumulatedLosses 2024-12-31 15060257 bus:Director1 2023-08-09 2024-12-31 15060257 2023-08-08 15060257 bus:PrivateLimitedCompanyLtd 2023-08-09 2024-12-31 15060257 bus:SmallCompaniesRegimeForAccounts 2023-08-09 2024-12-31 15060257 bus:FRS102 2023-08-09 2024-12-31 15060257 bus:AuditExemptWithAccountantsReport 2023-08-09 2024-12-31 15060257 bus:FullAccounts 2023-08-09 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP