Company No: 15824633 (England and Wales)

Contents

• Balance Sheet
• Statement of Changes in Equity
• Notes to the Financial Statements

	Note	2025
		£
Fixed assets
Tangible assets	3	99,556
Investment property	4	13,978,000
		14,077,556
Current assets
Debtors	6	248,650
Cash at bank and in hand		164,062
		412,712
Creditors: amounts falling due within one year	7	( 194,292)
Net current assets		218,420
Total assets less current liabilities		14,295,976
Creditors: amounts falling due after more than one year	8	( 7,650,000)
Net assets		6,645,976
Capital and reserves
Called-up share capital		1
Undistributable reserve		7,082,144
Profit and loss account		( 436,169 )
Total shareholder's funds		6,645,976

For the financial period ending 30 June 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial period 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 Webb Investments Clifton Limited (registered number: 15824633) were approved and authorised for issue by the Board of Directors on 09 December 2025. They were signed on its behalf by:

K P Webb Director

	Called-up share capital		Undistributable reserve		Capital contribution reserve		Profit and loss account		Total
	£		£		£		£		£
At 01 July 2024	0		0		0		0		0
Profit for the financial period	0		0		0		6,885,975		6,885,975
Total comprehensive income	0		0		0		6,885,975		6,885,975
Issue of share capital	1		0		0		0		1
Dividends paid on equity shares	0		0		0		( 240,000)		( 240,000)
Acquisition of subsidiary from fellow group company	0		0		99		0		99
Non-distributable dividend income (notes 10 & 11)	0		7,082,144		0		( 7,082,144)		0
Disposal of subsidiary to fellow group company	0		0		( 99)		0		( 99)
At 30 June 2025	1		7,082,144		0		( 436,169)		6,645,976

On 8 July 2024, the company issued 1 ordinary share with a nominal value of £1.00 for total consideration of £1.00.

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Webb Investments Clifton 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 45 Oakfield Road, Clifton, Bristol, United Kingdom, BS8 2AX.

The financial statements have been prepared in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), 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 directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Turnover

Turnover represents rent receivable during the year. Rental income is recognised net of VAT on an accruals basis in accordance with the relevant rental agreements.

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.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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.

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.

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:

Leasehold improvements

depreciated over the life of the lease

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

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.

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.

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.

2. Employees

	2025
	Number
Monthly average number of persons employed by the Company during the period, including directors	2

3. Tangible assets

	Leasehold improve- ments		Total
	£		£
Cost
At 01 July 2024	0		0
Transfer from West End Investments (Clifton) Ltd - see note 11	402,419		402,419
At 30 June 2025	402,419		402,419
Accumulated depreciation
At 01 July 2024	0		0
Charge for the financial period	22,357		22,357
Transfer from West End Investments (Clifton) Ltd - see note 11	280,506		280,506
At 30 June 2025	302,863		302,863
Net book value
At 30 June 2025	99,556		99,556

4. Investment property

	Investment property
	£
Valuation
As at 01 July 2024	0
Additions	13,978,000
As at 30 June 2025	13,978,000

The directors consider the fair value of the property at 30 June 2025 to not differ significantly from the acquisition cost at 2 December 2024 and therefore no fair value movements have been made during the period.

On 2 December 2024, the company acquired a proportion of the trade and assets of a company under common control, by way of a group restructure and liquidation demerger, including the Investment property of £13,978,000 , which was transferred at fair value. See note 10 for further details.

5. Fixed asset investments

Investments in subsidiaries

	2025
	£
Acquisition of investment in West End Investments (Clifton) Limited	99
Disposal of investment in West End Investments (Clifton) Limited	(99)
Carrying value at 30 June 2025	0

On 2 December 2024, the company acquired interests in West End Investments (Clifton) Limited as part of a group restructure and these interests were subsequently disposed of via a liquidation demerger. See note 10 for further details.

6. Debtors

	2025
	£
Amounts owed by Parent undertakings	1
Prepayments	52,590
Other debtors	196,059
	248,650

Included in Other debtors is £22,857 due in more than one year.

7. Creditors: amounts falling due within one year

	2025
	£
Trade creditors	54,484
Amounts owed to related parties	19,831
Accruals	31,168
Taxation and social security	88,707
Other creditors	102
	194,292

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

	2025
	£
Bank loans	7,650,000

Bank loans totalling £7,650,000 are subject to fixed and floating charges over all freehold and leasehold investment property held by the company.

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025
	£
within one year	170,000
between one and five years	680,000
after five years	1,020,000
Total future minimum lease payments under non-cancellable operating leases	1,870,000

10. Related Party Transactions

On 2 December 2024, the company acquired a proportion of the trade and assets of West End Investments (Clifton) Limited, a company under common control, by way of a group restructure and liquidation demerger. During the period, the following transactions took place with West End Investments (Clifton) Limited, in respect of this restructure.

	2025
	£
Fair value of freehold interest in investment property transferred to the company	(13,978,000)
Leasehold improvements transferred to the company	(121,913)
Cash paid by the company	6,812,833
Undistributable dividend received	7,082,144
Revenue received by related party on behalf of the company	(43,750)
Expenditure settled by related party on behalf of the company	228,855
	(19,831)

At 30 June 2025, the company owed West End Investments (Clifton) Ltd £19,831. This balance is interest free and repayable on demand.

During the period, the company loaned £100,000 to a company under common control. At 30 June 2025, £100,000 remained outstanding. This loan is interest free and repayable on demand.

During the period, the company loaned £60,000 to a company under common control and charged interest of £659. At 30 June 2025, £57,444 remained outstanding. Interest is charged on this loan at 13.18% and the loan is repayable by 1 March 2027.

11. Income from shares in group undertaking

During the period, the company received assets from West End Investments (Clifton) Limited as part of a distribution in specie. The fair value of the assets received exceeded the consideration paid by the company in respect of this transaction. The difference between the consideration paid and the fair value of assets received of £7,082,144 has been recognised as non‑distributable dividend income in the Profit and loss account, with a corresponding credit to undistributable reserves within equity.