City Offices Real Estate Limited

	Page
Balance Sheet	1—2
Statement of Changes in Equity	3
Notes to the Financial Statements	4—7

Registered number: 09910407

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		27,448		21,585

			27,448		21,585
CURRENT ASSETS
Debtors	6	233,250		247,436
Cash at bank and in hand		2,246,093		2,286,315

		2,479,343		2,533,751
Creditors: Amounts Falling Due Within One Year	7	(1,565,408 )		(1,674,228 )

NET CURRENT ASSETS (LIABILITIES)			913,935		859,523

TOTAL ASSETS LESS CURRENT LIABILITIES			941,383		881,108

PROVISIONS FOR LIABILITIES
Deferred Taxation			(3,303 )		(3,905 )

NET ASSETS			938,080		877,203

CAPITAL AND RESERVES
Called up share capital	9		457		457
Capital redemption reserve			1,551		1,551
Profit and Loss Account			936,072		875,195

SHAREHOLDERS' FUNDS			938,080		877,203

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City Offices Real Estate Limited

Balance Sheet (continued)

As At 31 March 2025

For the 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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

The financial statements were approved by the board of directors on 30 December 2022 and were signed on its behalf by:

B Baker

Director

30 December 2025

The notes on pages 4 to 7 form part of these financial statements.

	Share Capital	Capital Redemption	Profit and Loss Account	Total
	£	£	£	£
As at 1 April 2023	1,024	984	1,921,711	1,923,719
Profit for the year and total comprehensive income	-	-	546,889	546,889

Dividends paid	-	-	(610,072)	(610,072)
Purchase of own shares	(567 )	567	(983,333 )	(983,333)

As at 31 March 2024 and 1 April 2024	457	1,551	875,195	877,203


Profit for the year and total comprehensive income	-	-	620,877	620,877

Dividends paid	-	-	(560,000)	(560,000)

As at 31 March 2025	457	1,551	936,072	938,080

1. General Information

City Offices Real Estate Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09910407 . The registered office is 8 Frederick's Place, London, EC2R 8AB.

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

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

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

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Contracts are being amortised evenly over their estimated useful life of three years.

The Contracts were fully amortised during the year ended 31 March 2019.

2.5. Tangible Fixed Assets and Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold	In accordance with the property
Motor Vehicles	25% on cost
Fixtures & Fittings	25% on cost
Computer Equipment	33% on cost

2.6. Leasing and Hire Purchase Contracts

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

2.7. Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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City Offices Real Estate Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.8. Pensions

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.

2.9. Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 14 (2024: 16)

4. Intangible Assets

	Goodwill	Other	Total
	£	£	£
Cost
As at 1 April 2024	799,999	5,000,000	5,799,999

As at 31 March 2025	799,999	5,000,000	5,799,999

Amortisation
As at 1 April 2024	799,999	5,000,000	5,799,999

As at 31 March 2025	799,999	5,000,000	5,799,999

Net Book Value
As at 31 March 2025	-	-	-

As at 1 April 2024	-	-	-

5. Tangible Assets

	Land & Property
	Leasehold	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 April 2024	6,886	222,564	50,020	279,470
Additions	-	13,595	3,443	17,038

As at 31 March 2025	6,886	236,159	53,463	296,508

...CONTINUED

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City Offices Real Estate Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Depreciation
As at 1 April 2024	3,271	205,228	49,386	257,885
Provided during the period	689	8,659	1,827	11,175

As at 31 March 2025	3,960	213,887	51,213	269,060

Net Book Value
As at 31 March 2025	2,926	22,272	2,250	27,448

As at 1 April 2024	3,615	17,336	634	21,585

6. Debtors

	2025	2024
	£	£
Due within one year
Prepayments and accrued income	188,572	203,990
Other debtors	44,678	43,446

	233,250	247,436

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	38,502	32,983
Corporation tax	240,954	241,357
Other taxes and social security	62,375	64,025
VAT	121,582	103,398
Other creditors	1,073,819	1,214,182
Accruals and deferred income	28,176	18,283

	1,565,408	1,674,228

8. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 April 2024	3,905	3,905
Utilised	(602 )	(602)

Balance at 31 March 2025	3,303	3,303

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City Offices Real Estate Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	457	457

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	168,598	160,592

	168,598	160,592

11. Related Party Transactions

Included in other creditors is a balance of £279,853 (2024: £1,041,422) due to City Office Real Estate London Limited, a company under common control.

During the year the company charged City Office Real Estate London Limited fees for support and administrative services at arms length of £4,270,000 (2024: £3,859,000)

During the year the company paid Dividends of £560,000 (2024: £610,072) to the Shareholders.

12. Ultimate Controlling Party

There is no ultimate controlling party.

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