REGISTERED NUMBER: 05887591 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

CRITERION CAPITAL LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr F Ahmad

Mr D Hanif

Mr K Bal

REGISTERED OFFICE:

C/O Zedwell Hotel

Great Windmill Street

London Trocadero

London

W1D 7DH

REGISTERED NUMBER:

05887591 (England and Wales)

AUDITORS:

Xeinadin Audit Limited Chartered Accountants

Statutory Auditor

8th Floor, Becket House

36 Old Jewry

London

EC2R 8DD

CURRENT ASSETS

Debtors

4

44,811,245

35,085,559

Cash at bank

47,094

31,356

44,858,339

35,116,915

CREDITORS

Amounts falling due within one year

40,204,135

35,304,485

NET CURRENT ASSETS/(LIABILITIES)

4,654,204

(187,570

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,654,204

(187,570

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

4,653,204

(188,570

)

SHAREHOLDERS' FUNDS

4,654,204

(187,570

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 December 2025 and were signed on its behalf by:

Mr K Bal - Director

1.	STATUTORY INFORMATION

Criterion Capital Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern review

The directors have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The directors have made this assessment in respect to a period of one year from the date of approval of these accounts.

The directors have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors are of the opinion that the company will have sufficient resources to meet its liabilities as they fall due as the immediate and ultimate parent company, Continuation Holdings Limited and ACT Finance Limited, which provide finance to the subsidiaries of Continuation Holdings Limited, have indicated their willingness in writing to provide the necessary support to enable the company to meet its liabilities as they fall due for a period of at least 12 months from the date of signature of these financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Management charges

Management charges are recognised as income at the point when the company becomes contractually entitled to the charges.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are classified and accounted for according to the substance of the contractual arrangement as financial assets, financial liabilities or equity instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable.

Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.

Current tax is based on taxable profit for the year. Taxable profit differs from total comprehensive income because it excludes items of income or expense that are taxable or deductible in other periods. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted by the reporting date. Deferred tax is not discounted.

Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessment in different periods from their recognition in the financial statements. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Long term debtors and creditors

Long term debtors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 55 (2024 - 36 ) .

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other debtors

-

345,500

5.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

186,239

345,500

Between one and five years

-

186,239

186,239

531,739

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Suda Ratnam FCCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited Chartered Accountants

7.	PENSION COMMITMENTS

The company operates a defined contribution scheme. During the year the company contributed £85,174 (2024: £81,074). At the year end the company had a liability of £14,697 (2024: £6,343)

8.	CONTINGENT LIABILITIES

There were no contingent liabilities at either the beginning or the end of the financial year.

9.	CAPITAL COMMITMENTS

The company had no capital commitment at 31 March 2025 and 31 March 2024.

10.	RELATED PARTY DISCLOSURES

During the year, the company received advances of £3,316,344 (2024: repaid £7,573,667) from ACT Finance Limited. The total amount owed to ACT Finance Limited at the reporting date totalled £16,688,944 (2024: £13,572,600). ACT Finance Limited is a related party by virtue of being under common control. No interest is charged on this balance and it is repayable on demand.

At the year end the net amount owed by Act Property Holdings Ltd and its subsidiaries was a total of £3,179,895 (2024: £6,795,638) . ACT Property Holdings Limited is a related party by virtue of being under common control.

11.	PARENT COMPANY

Continuation Holdings Ltd, a company incorporated in the Isle of Man, is the immediate and ultimate parent company. Continuation Holdings Limited's registered office is 3rd Floor, 10 Finch Road, Douglas, Isle of Man, IM1 2PT.

The ultimate controlling party is deemed to be the Trustees of The Aziz Continuation Purpose Trust which is based in the Isle of Man.