Company No: 12730633 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	31.12.2024		31.12.2023
		£		£
Fixed assets
Investment property	4	2,350,000		2,350,000
		2,350,000		2,350,000
Current assets
Debtors	5	1,000		0
Cash at bank and in hand		940		24,177
		1,940		24,177
Creditors: amounts falling due within one year	6	( 2,832,039)		( 2,811,738)
Net current liabilities		(2,830,099)		(2,787,561)
Total assets less current liabilities		(480,099)		(437,561)
Net liabilities		( 480,099)		( 437,561)
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		( 480,199 )		( 437,661 )
Total shareholder's deficit		( 480,099)		( 437,561)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has 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 Income Statement has not been delivered.

The financial statements of P1F Real Estate Limited (registered number: 12730633) were approved and authorised for issue by the Director. They were signed on its behalf by:

N Anandakumar Director

24 December 2025

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 period, unless otherwise stated.

General information and basis of accounting

P1F Real Estate 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 Riverbank House, 2 Swan Lane, London, EC4R 3TT, 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.

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

Going concern

At the reporting date the company had net current liabilities and net liabilities.

The company's parent undertaking P1F Holdings Limited has confirmed that it will provide such financial support as is necessary to enable the company to meet its working capital requirements for the foreseeable future.

Accordingly, at the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Reporting period length

The financial statements cover the year ended 31 December 2024 whereas the comparatives cover the 5 month period ended 31 December 2023. Accordingly, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

Turnover

Turnover represents rent receivable and is recognised at the fair value of the consideration received or receivable.

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:

Plant and machinery etc.

3 years straight line

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement.

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.

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.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2. Employees

	Year ended 31.12.2024		Period from 01.08.2023 to 31.12.2023
	Number		Number
Monthly average number of persons employed by the company during the year, including the director	0		0

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2024	5,438		5,438
At 31 December 2024	5,438		5,438
Accumulated depreciation
At 01 January 2024	5,438		5,438
At 31 December 2024	5,438		5,438
Net book value
At 31 December 2024	0		0
At 31 December 2023	0		0

4. Investment property

	Investment property
	£
Valuation
As at 01 January 2024	2,350,000
As at 31 December 2024	2,350,000

The investment properties have been valued by the director and are included in the statement of financial position at what he considers to be their fair value.

5. Debtors

	31.12.2024		31.12.2023
	£		£
Other debtors	1,000		0

6. Creditors: amounts falling due within one year

	31.12.2024		31.12.2023
	£		£
Trade creditors	0		3,000
Amounts owed to group undertakings	2,802,131		2,803,939
Other creditors	29,908		4,799
	2,832,039		2,811,738

7. Called-up share capital

	31.12.2024		31.12.2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100