Company No: 00332296 (England and Wales)

Contents

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

DIRECTORS	HJT Guest
	RV Guest
	AM Jones
	PCT Ricks

REGISTERED OFFICE	Aldgate Tower
	2 Leman Street
	London
	E1W 9US
	United Kingdom

COMPANY NUMBER

00332296 (England and Wales)

ACCOUNTANT	Gravita Business Services II Limited
	Aldgate Tower
	2 Leman Street
	London
	E1 8FA
	United Kingdom

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	1,442,172		1,470,723
Investments	4	1,155,688		1,155,893
		2,597,860		2,626,616
Current assets
Debtors	5	505,929		542,956
Cash at bank and in hand		699,874		491,650
		1,205,803		1,034,606
Creditors: amounts falling due within one year	6	( 68,536)		( 169,357)
Net current assets		1,137,267		865,249
Total assets less current liabilities		3,735,127		3,491,865
Provision for liabilities		( 133,677)		( 133,677)
Net assets		3,601,450		3,358,188
Capital and reserves
Called-up share capital		38,456		38,456
Capital redemption reserve		2,975,741		2,975,741
Profit and loss account		587,253		343,991
Total shareholders' funds		3,601,450		3,358,188

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Criterion Estates Limited (registered number: 00332296) were approved and authorised for issue by the Board of Directors on 29 December 2025. They were signed on its behalf by:

H Guest Director

AM Jones 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

Criterion Estates 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 Aldgate Tower, 2 Leman Street, London, E1W 9US, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of 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 £.

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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is derived from rental income received from leasehold properties leased out under operating leases recognised in the profit and loss account on a straight-line basis over the term of the lease net of VAT. Lease incentives granted are recognised as an integral part of total rental income.

Rental income is accounted for on an accruals basis.

Taxation

Current tax
The tax expense represents the sum of the tax currently payable and deferred tax

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:

Land and buildings	not depreciated
	depreciated over the life of the lease
Vehicles	5 years straight line
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.

Land and buildings are held at cost rather than fair value, in contravention with FRS 102 standard accounting practice. Profit on disposal of land and buildings is recognised as a transfer to capital reserves rather than revenue, in contravention with FRS 102 standard accounting practice.

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 Statement of Income and Retained Earnings as described below.

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.

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.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		4

3. Tangible assets

	Land and buildings		Vehicles		Computer equipment		Total
	£		£		£		£
Cost
At 01 April 2024	1,481,361		67,864		972		1,550,197
Disposals	( 28,000)		0		0		( 28,000)
At 31 March 2025	1,453,361		67,864		972		1,522,197
Accumulated depreciation
At 01 April 2024	11,313		67,864		297		79,474
Charge for the financial year	223		0		328		551
At 31 March 2025	11,536		67,864		625		80,025
Net book value
At 31 March 2025	1,441,825		0		347		1,442,172
At 31 March 2024	1,470,048		0		675		1,470,723

4. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 April 2024	2
At 31 March 2025	2
Carrying value at 31 March 2025	2
Carrying value at 31 March 2024	2

	Listed investments		Total
	£		£
Cost or valuation before impairment
At 01 April 2024	1,155,891		1,155,891
Movement in fair value	( 205)		( 205)
At 31 March 2025	1,155,686		1,155,686
Carrying value at 31 March 2025	1,155,686		1,155,686
Carrying value at 31 March 2024	1,155,891		1,155,891

Criterion Estates Limited holds 100% of the share capital of Springbreak Limited, a company registered in the UK.

5. Debtors

	2025		2024
	£		£
Trade debtors	7,304		80,585
Amounts owed by Group undertakings	400,606		400,606
Other debtors	98,019		61,765
	505,929		542,956

The loan to Springbreak Limited is interest free and repayable on demand.

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	12,364		20,268
Other taxation and social security	0		69,461
Other creditors	56,172		79,628
	68,536		169,357

7. Related party transactions

The Company owes the directors the following amounts in respect of unpaid expenses: Estate of J Guest - £14,885 (2024: £14,885 ).

At the year end, the company was owed £33,335 (2024: £34,952 ) by the director A Jones, in respect of a 2.25% interest bearing loan.

8. Ultimate controlling party

The company is controlled by the directors as disclosed in the directors' report.