Company No: 10680639 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

Cherie Blair

REGISTERED OFFICE	30 Harcourt Street
	London
	W1H 4HU
	United Kingdom

COMPANY NUMBER

10680639 (England and Wales)

CHARTERED ACCOUNTANTS	Dixon Wilson
	22 Chancery Lane
	London
	WC2A 1LS

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	46,000		46,000
Investment property	4	6,400,000		6,400,000
		6,446,000		6,446,000
Current assets
Debtors	5	77,325		12,880
Cash at bank and in hand		140,511		117,017
		217,836		129,897
Creditors: amounts falling due within one year	6	( 4,172,689)		( 4,104,187)
Net current liabilities		(3,954,853)		(3,974,290)
Total assets less current liabilities		2,491,147		2,471,710
Creditors: amounts falling due after more than one year	7	( 2,903,280)		( 2,898,789)
Provision for liabilities	8	( 35,297)		( 31,560)
Net liabilities		( 447,430)		( 458,639)
Capital and reserves
Called-up share capital		100		100
Profit and loss account		( 447,530 )		( 458,739 )
Total shareholders' deficit		( 447,430)		( 458,639)

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.

Director's 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 director acknowledges 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 Harcourt Ventures Limited (registered number: 10680639) were approved and authorised for issue by the Director on 13 November 2025. They were signed on its behalf by:

Cherie Blair Director

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

Harcourt Ventures 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 30 Harcourt Street, London, W1H 4HU, England, 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.

Going concern

The financial statements have been prepared on a going concern basis. The Director is satisfied the company has adequate resources to continue to trade and to meet liabilities as they fall due. Bank loans fall due in 2028 and the company's other principal liabilities are amounts due to related parties that do not have fixed repayment dates.

Turnover

Turnover comprises rental income from investment property. Rental income is recognised on a straight line basis over the terms of the relevant leases.

Taxation

Current tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss and relates to income and expenditure recognised in profit and loss. Tax charges are calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred tax assets have not been recognised in respect of unrealised losses from the change in fair value of investment property due to uncertainty as to when such losses may be realised and whether the company would be able to realise the benefit of the losses at that time.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:

Plant and machinery etc.

3 - 5 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.

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 with changes in fair value recognised in profit or loss.

The fair value is determined by the director, on an open market value for existing use basis.

Financial instruments

Financial assets including cash at bank and other debtors are initially measured at transaction price (including transaction costs) and subsequently held at cost, less any impairment.

Financial liabilities are initially measured at the transaction price and subsequently held at amortised cost.

Debt instruments that are payable or receivable within one year are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

Loans and borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year	0		0

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 April 2024	99,444		99,444
At 31 March 2025	99,444		99,444
Accumulated depreciation
At 01 April 2024	53,444		53,444
At 31 March 2025	53,444		53,444
Net book value
At 31 March 2025	46,000		46,000
At 31 March 2024	46,000		46,000

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	6,400,000
As at 31 March 2025	6,400,000

Valuation

There has been no valuation of investment property by an independent valuer. In the opinion of the director the fair value of the investment property has not changed in the year.

Historic cost

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

	2025		2024
	£		£
Historic cost	7,011,941		7,011,941

5. Debtors

	2025		2024
	£		£
Trade debtors	60,757		0
Other debtors	16,568		12,880
	77,325		12,880

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Director loans (note 9)	3,219,504		3,219,504
Trade creditors	19,352		7,461
Amounts owed to related parties (note 9)	817,103		769,807
VAT	17,254		15,549
Accruals and deferred income	99,418		91,861
Other creditors	58		5
	4,172,689		4,104,187

There are no amounts included above in respect of which any security has been given by the small entity.

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	2,903,280		2,898,789

Bank loans are secured via fixed and floating charges over the company's investment property

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 31,560)		( 26,847)
Charged to the Profit and Loss Account	( 3,737)		( 4,713)
At the end of financial year	( 35,297)		( 31,560)

9. Related party transactions

Creditors includes £3,219,504 (2024 - £3,219,504) owed to the director as well as £817,103 (2024 - £769,807) owed to a partnership of which the director is a member. These amounts are interest free, unsecured, and payable on demand