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Company No: 10161897 (England and Wales)

# UNUM INVESTMENTS LIMITED

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

UNUM INVESTMENTS LIMITED

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

UNUM INVESTMENTS LIMITED

## COMPANY INFORMATION

For the financial year ended 31 March 2025
UNUM INVESTMENTS LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 31 March 2025

Directors | C J Barder
| J H Barder

Registered office | Springfield House
| Springfield Road
| Horsham
| RH12 2RG
| United Kingdom

Company number | 10161897 (England and Wales)

Accountant | Kreston Reeves LLP
| Springfield House
| Springfield Road
| Horsham
| West Sussex
| RH12 2RG

## ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF UNUM INVESTMENTS LIMITED

For the financial year ended 31 March 2025

## ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF UNUM INVESTMENTS LIMITED (continued)

For the financial year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Unum Investments Limited for the financial year ended 31 March 2025 which comprise the Balance Sheet and the related notes 1 to 12 from the Company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.
It is your duty to ensure that Unum Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Unum Investments Limited. You consider that Unum Investments Limited is exempt from the statutory audit requirement for the financial year.
We have not been instructed to carry out an audit or a review of the financial statements of Unum Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Board of Directors of Unum Investments Limited, as a body, in accordance with the terms of our engagement letter dated 08 July 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Unum Investments Limited and state those matters that we have agreed to state to the Board of Directors of Unum Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Unum Investments Limited and its Board of Directors as a body for our work or for this report.

Kreston Reeves LLP

Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG

03 December 2025

UNUM INVESTMENTS LIMITED

## BALANCE SHEET

As at 31 March 2025
UNUM INVESTMENTS LIMITED

## BALANCE SHEET (continued)

As at 31 March 2025

| Note | 31.03.2025 |  | 31.03.2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 4 | 1,275 |  | 0
Investment property | 5 | 3,350,000 |  | 3,350,000
Investments | 6 | 78 |  | 78
|  | 3,351,353 |  | 3,350,078
Current assets |  |  |  |
Debtors | 7 | 86,977 |  | 66,009
Cash at bank and in hand |  | 285,871 |  | 225,973
|  | 372,848 |  | 291,982
Creditors: amounts falling due within one year | 8 | ( 194,677) |  | ( 1,607,662)
Net current assets/(liabilities) |  | 178,171 |  | (1,315,680)
Total assets less current liabilities |  | 3,529,524 |  | 2,034,398
Creditors: amounts falling due after more than one year | 9 | ( 907,315) |  | ( 948,828)
Provision for liabilities | 10 | ( 188,377) |  | ( 188,058)
Net assets |  | 2,433,832 |  | 897,512
Capital and reserves |  |  |  |
Called-up share capital |  | 100 |  | 100
Revaluation reserve | 12 | 634,055 |  | 634,055
Profit and loss account |  | 1,799,677 |  | 263,357
Total shareholders' funds |  | 2,433,832 |  | 897,512

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge 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 Unum Investments Limited (registered number: 10161897) were approved and authorised for issue by the Board of Directors on 03 December 2025. They were signed on its behalf by:

J H Barder Director |

UNUM INVESTMENTS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
UNUM INVESTMENTS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

Unum Investments Limited (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 Springfield House, Springfield Road, Horsham, RH12 2RG, 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 £1.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have 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.

##### Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

##### Turnover

Revenue is recognised in the period in which the rental services are provided 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.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### 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 Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### 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:

Computer equipment | 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.

##### Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The fair value is determined annually by the directors, on an open market value for existing use basis.

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### 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 creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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 payments 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. Amounts 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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

#### 2. Employees

| 31.03.2025 |  | 31.03.2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 2

#### 3. Exceptional item

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Loan written off | (1,430,000) |  | 0

**Exceptional item**
During the year the loan of £1,430,000 due to Buddy Associates SA has been written off, with the credit arising recognised in the profit and loss account of Unum Investments Limited.

#### 4. Tangible assets

| Computer equipment |  | Total
| £ |  | £
Cost |  |  |
At 01 April 2024 | 0 |  | 0
Additions | 1,434 |  | 1,434
At 31 March 2025 | 1,434 |  | 1,434
Accumulated depreciation |  |  |
At 01 April 2024 | 0 |  | 0
Charge for the financial year | 159 |  | 159
At 31 March 2025 | 159 |  | 159
Net book value |  |  |
At 31 March 2025 | 1,275 |  | 1,275
At 31 March 2024 | 0 |  | 0

#### 5. Investment property

| Investment property
| £
Valuation |
As at 01 April 2024 | 3,350,000
As at 31 March 2025 | 3,350,000

Valuation

The 2025 valuations were made by the directors, on an open market value for existing use basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Historic cost | 2,581,391 |  | 2,581,391

#### 6. Fixed asset investments

Investments in subsidiaries

| 31.03.2025
| £
Cost |
At 01 April 2024 | 78
At 31 March 2025 | 78
Carrying value at 31 March 2025 | 78
Carrying value at 31 March 2024 | 78

#### 7. Debtors

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Trade debtors | 46,653 |  | 33,900
Prepayments and accrued income | 31,529 |  | 17,509
Other debtors | 8,795 |  | 14,600
| 86,977 |  | 66,009

#### 8. Creditors: amounts falling due within one year

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Trade creditors | 0 |  | 248
Amounts owed to Group undertakings | 5,070 |  | 12,044
Other loans | 0 |  | 1,430,000
Accruals and deferred income | 65,859 |  | 71,935
Corporation tax | 37,547 |  | 24,804
Other taxation and social security | 11,267 |  | 11,160
Other creditors | 74,934 |  | 57,471
| 194,677 |  | 1,607,662

There are no amounts included above in respect of which any security has been given by the small entity.
Amounts owed to Group undertakings are repayable on demand and do not bear interest.

#### 9. Creditors: amounts falling due after more than one year

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Bank loans (secured) | 907,315 |  | 948,828

The bank loans falling due within two to five years of £907,315 (2024: £948,828) are secured against the investment properties and attract an interest rate of 3.25% per annum. The loan is repayable on 10 September 2027.

#### 10. Deferred tax

| 31.03.2025 |  | 31.03.2024
| £ |  | £
At the beginning of financial year | ( 188,058) |  | ( 188,009)
Charged to the Profit and Loss Account | ( 319) |  | ( 49)
At the end of financial year | ( 188,377) |  | ( 188,058)

The deferred taxation balance is made up as follows:

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Accelerated capital allowances | ( 319) |  | 0
Revaluation of investment property | ( 188,058) |  | ( 188,058)
| ( 188,377) |  | ( 188,058)

#### 11. Related party transactions

Other related party transactions

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Buddy Associates SA | 0 |  | (1,430,000)

During the year Buddy Associates SA continued to provide a loan to Unum investments Limited of £1,430,000 (2024: £1,430,000). On the 22 February 2024 the shareholders of Unum Investments Limited acquired the share capital of Buddy Associates SA. On 29 April 2024, Buddy Associates SA waived their right to the loan, and the loan has now been written off in the 31 March 2025 financial statements resulting in a credit arising of £1,430,000 in the profit and loss accounts.

#### 12. Reserves

Revaluation reserve

The revaluation reserve includes unrealised gains on revaluation of the investment property net of deferred taxation due on these gains. This is a non-distributable reserve.

Profit and loss account

The profit and loss account relates to accrued profits and losses that have arisen less any dividends declared. This is a distributable reserve.