REGISTERED NUMBER: 15664084 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD 20 APRIL 2024 TO 30 APRIL 2025

FOR

LEONARD CURTIS FUNDING LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

16,414

Tangible assets

5

2,395

Investments

6

595,999

614,808

CURRENT ASSETS

Debtors

7

107,644

Cash at bank

166,619

274,263

CREDITORS

Amounts falling due within one year

8

(791,166

)

NET CURRENT LIABILITIES

(516,903

)

TOTAL ASSETS LESS CURRENT LIABILITIES

97,905

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

97,805

97,905

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 January 2026 and were signed on its behalf by:

D J Booth - Director

1.	STATUTORY INFORMATION

Leonard Curtis Funding Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

15664084

Registered office:

Riverside House

Irwell Street

Manchester

M3 5EN

Reach Commercial Finance Limited is a private company limited by shares, incorporated in England and Wales. The company's registered number is 09056450 and its registered office is Riverside House, Irwell Street, Manchester, M3 5EN.

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.

The financial statements have been prepared on a going concern basis, the functional and presentation currency is £ sterling.

Turnover

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

Intangible assets

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

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

Financial instruments

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

Basic financial assets, which include trade debtors, amounts owed by group undertakings 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. Financial assets classified as receivable within one year are not amortised.

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.

Basic financial liabilities, including trade creditors, other creditors, and amounts owed to group undertakings, 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 are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 period 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.

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.

Fixed asset investments

Fixed asset investments are stated at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Going concern

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

17,380

At 30 April 2025

17,380

AMORTISATION

Charge for period

966

At 30 April 2025

966

NET BOOK VALUE

At 30 April 2025

16,414

5.	TANGIBLE FIXED ASSETS

Office

furniture

and

Computer

equipment

equipment

Totals

£

£

£

COST

Additions

499

2,412

2,911

At 30 April 2025

499

2,412

2,911

DEPRECIATION

Charge for period

28

488

516

At 30 April 2025

28

488

516

NET BOOK VALUE

At 30 April 2025

471

1,924

2,395

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

595,999

At 30 April 2025

595,999

NET BOOK VALUE

At 30 April 2025

595,999

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

57,300

Amounts owed by group undertakings

35,244

Other debtors

15,100

107,644

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

296

Amounts owed to group undertakings

640,642

Taxation and social security

107,960

Other creditors

42,268

791,166

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

The Report of the Auditors was unqualified.

Frederick Norman (Senior Statutory Auditor)

for and on behalf of Harold Sharp Limited

10.	CONTINGENT LIABILITIES AND OTHER FINANCIAL COMMITMENTS

The company has entered into a cross guarantee with Leonard Curtis UK Limited, LCBSG Limited, Leonard Curtis Offshore Limited , Reach Commercial Finance Limited, Leonard Curtis Legal Limited, Leonard Curtis C.I. Limited, Newsource Commercial Finance Limited and Virtualnonexecs Limited, Leonard Curtis Jersey Limited, Project Hallelujah Bidco Limited and LC Debt Solutions Limited in respect of bank borrowings. At 30 April 2025 an amount of £4,127,215 was owed by group companies to the bank (2024: £412,474).

The company contributes to a defined contribution scheme for staff. During the year the company contributed £10,443 (2024:nil)

11.	ULTIMATE CONTROLLING PARTY

The company's immediate parent company is LCBSG Limited, whose registered office is Riverside House, Irwell Street, Manchester, M3 5EN.

On 19 August 2025 as a result of new equity investment, the ultimate parent company changed to Maximus Topco Limited whose registered office is Riverside House, Irwell Street, Manchester, M3 5EN.

At the reporting date, the smallest and largest group of which Leonard Curtis UK Limited is a member and which consolidated financial statements are prepared is Project Hallelujah Bidco Limited. Copies of consolidated accounts can be obtained from Companies House, Cardiff.

The directors are of the opinion that there is no ultimate controlling party of Project Hallelujah Bidco

Limited.