Company No: OC418432 (England and Wales)

Contents

• Limited Liability Partnership Information
• Balance Sheet
• Reconciliation of Members' Interests
• Notes to the Financial Statements

Designated members	Coller IP Capital Limited
	Mr Jeremy Coller

Registered office	Park House
	116 Park Street
	London
	W1K 6AF
	United Kingdom

Registered number

OC418432 (England and Wales)

Accountant	Kreston Reeves LLP
	2nd Floor
	168 Shoreditch High Street
	London
	E1 6RA

	Note	2025		2024
		£'000		£'000
Fixed assets
Investments	3	44,189		93,966
		44,189		93,966
Current assets
Debtors
- due within one year	4	0		1
- due after more than one year	4	29		25
Cash at bank and in hand		1,526		55
		1,555		81
Creditors: amounts falling due within one year	5	( 5)		( 5)
Net current assets		1,550		76
Total assets less current liabilities		45,739		94,042
Net assets attributable to members		45,739		94,042
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability		81,177		84,758
Other amounts		(35,438)		9,284
		45,739		94,042
Members' other interests
		0		0
		45,739		94,042
Total members' interests
Loans and other debts due to members	6	45,739		94,042
		45,739		94,042

The notes on pages 11 to 14 form part of these financial statements.

For the financial year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

• The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, 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 LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of CPT Capital LLP (registered number: OC418432) were approved and authorised for issue by the Board of Directors on 10 December 2025. They were signed on its behalf by:

Mr Jeremy Coller Designated member

	EQUITY Members' other interests	DEBT Loans and other debts due to members less any amounts due from members in debtors			Total members' interests
	Other reserves	Members' capital (classified as debt)	Other amounts	Total	Total
	£'000	£'000	£'000	£'000	£'000
Amounts due to members		80,936	117,134	198,070
Balance at 01 April 2023	0	80,936	117,134	198,070	198,070
Loss for the financial year available for discretionary division among members	(107,850)	0	0	0	(107,850)
Members' interest after loss for the financial year	(107,850)	80,936	117,134	198,070	90,220
Division of loss	107,850	0	(107,850)	(107,850)	0
Introduced by members	0	3,822	0	3,822	3,822
Amounts due to members		84,758	9,284	94,042
Balance at 31 March 2024	0	84,758	9,284	94,042	94,042
Loss for the financial year available for discretionary division among members	(44,722)	0	0	0	(44,722)
Members' interest after loss for the financial year	(44,722)	84,758	9,284	94,042	49,320
Division of loss	44,722	0	(44,722)	(44,722)	0
Introduced by members	0	450	0	450	450
Repayment of capital	0	(4,031)	0	(4,031)	(4,031)
Amounts due to members		81,177	(35,438)	45,739
Balance at 31 March 2025	0	81,177	(35,438)	45,739	45,739

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

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

CPT Capital LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Park House, 116 Park Street, London, W1K 6AF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £'000.

Foreign currency

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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.

Investments
Investments in unlisted shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members, which are recognised as loan assets repayable.

In the event of the LLP making losses, the loss is recognised as a credit amount of Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

2. Employees

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

The entity has no employees.

3. Fixed asset investments

	Other investments		Total
	£'000		£'000
Cost or valuation before impairment
At 01 April 2024	93,966		93,966
Additions	1,165		1,165
Disposals	( 6,182)		( 6,182)
Movement in fair value	( 44,760)		( 44,760)
At 31 March 2025	44,189		44,189
Carrying value at 31 March 2025	44,189		44,189
Carrying value at 31 March 2024	93,966		93,966

4. Debtors

	2025		2024
	£'000		£'000
Debtors: amounts falling due within one year
Accrued income	0		1
Debtors: amounts falling due after more than one year
Accrued income	4		0
Derivative financial instruments	25		25
	29		25

5. Creditors: amounts falling due within one year

	2025		2024
	£'000		£'000
Accruals	5		5

6. Loans and other debts due to members

	2025		2024
	£'000		£'000
Members' capital treated as debt	81,177		84,758
Other amounts due to members	(35,438)		9,284
	45,739		94,042

Loans and other debts due to members may be further analysed as follows:

	2025		2024
	£'000		£'000
Falling due within one year	45,739		94,042

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.