Company No: 15392110 (England and Wales)

Contents

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

DIRECTORS	A Cullum (Appointed 06 January 2024)
	P G Cullum (Appointed 06 January 2024)

REGISTERED OFFICE	Wealden Hall
	Parkfield
	Sevenoaks
	TN15 0HX
	United Kingdom

COMPANY NUMBER

15392110 (England and Wales)

ACCOUNTANT	S&W Partners (South East) Limited
	Brockbourne House
	77 Mount Ephraim
	Royal Tunbridge Wells
	TN4 8BS

	Note	31.03.2025
		£
Fixed assets
Investment property	3	12,549,056
		12,549,056
Current assets
Debtors
- due within one year	4	1,175,517
- due after more than one year	4	115,075
Cash at bank and in hand		931,257
		2,221,849
Creditors: amounts falling due within one year	5	( 14,276,977)
Net current liabilities		(12,055,128)
Total assets less current liabilities		493,928
Net assets		493,928
Capital and reserves
Called-up share capital	7	100
Share premium account		125,884
Profit and loss account		367,944
Total shareholders' funds		493,928

For the financial period 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 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 Peter Cullum Commercial Properties Limited (registered number: 15392110) were approved and authorised for issue by the Board of Directors on 18 December 2025. They were signed on its behalf by:

A Cullum Director

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

Peter Cullum Commercial Properties 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 Wealden Hall, Parkfield, Sevenoaks, TN15 0HX, 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 ‘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.

The functional currency of Peter Cullum Commercial Properties Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

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.

Reporting period length

This is the Company's first year of preparing the financial statements, the reporting period length is 15 months.

Turnover

Revenue is recognised 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.

Revenue represents amounts receivable for rental income. Revenue is recognised for the term of occupancy in the accounting period.

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.

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.

Leases

The Company as lessor
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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

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.

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 creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

2. Employees

	Period from 06.01.2024 to 31.03.2025
	Number
Monthly average number of persons employed by the Company during the period, including directors	2

3. Investment property

	Investment property
	£
Valuation
As at 06 January 2024	0
Additions	12,549,056
As at 31 March 2025	12,549,056

Valuation

The properties were transferred at their carrying value from Cullum Commercial Properties LLP on 2 September 2024.

4. Debtors

	31.03.2025
	£
Debtors: amounts falling due within one year
Prepayments and accrued income	31,845
Deferred tax asset	49,921
Other debtors	1,093,751
	1,175,517
Debtors: amounts falling due after more than one year
Accrued income	115,075

5. Creditors: amounts falling due within one year

	31.03.2025
	£
Trade creditors	54,461
Amounts owed to directors	13,818,058
Accruals and deferred income	231,743
Taxation and social security	172,715
	14,276,977

6. Deferred tax

	31.03.2025
	£
At the beginning of financial period	0
Credited to the Profit and Loss Account	49,921
At the end of financial period	49,921

7. Called-up share capital

	31.03.2025
	£
Allotted, called-up and fully-paid
100 Ordinary shares shares of £ 1.00 each	100

In the financial period 2025, 100 Ordinary shares shares were allotted with an aggregate nominal value of £100.0 and consideration of £100 was received.

8. Contingencies

Contingent liabilities

One of the company's investment properties is part owed (30%) by Swilken Properties LLP. Borrowings against this property by Swilken Properties LLP are secured by both parties. However, in the event of default, both parties are jointly and severally liable for the full amount of the debt outstanding. At the balance sheet date, Swilken Properties LLP had a loan balance outstanding of £529,263.

9. Related party transactions

Transactions with the entity's directors

	31.03.2025
	£
Amounts owed to directors	13,818,058

The above amounts relate to the members' interests transferred over from Cullum Commercial Properties LLP on 2 September 2024.