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Registered number: 15714874 BLCP RS HOLDCO V LTD FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE PERIOD ENDED 31 AUGUST 2025
BLCP RS HOLDCO V LTD REGISTERED NUMBER: 15714874 BALANCE SHEET AS AT 31 AUGUST 2025
|  | 2025
Note |  | £
Fixed assets | 5 |  |
Investments |  |  | 1
|  |  | 1
Current assets |  |  |
Debtors: amounts falling due within one year | 6 | 192,146 |
|  | 192,146 |
Creditors: amounts falling due within one year | 7 | (3,001) |
Net current assets |  |  | 189,145
Total assets less current liabilities |  |  | 189,146
Creditors: amounts falling due after more than one year |  |  | (20,292)
Net assets |  |  | 168,854
Capital and reserves |  |  |
Called up share capital | 9 |  | 1,809
Share premium account | 10 |  | 178,889
Profit and loss account |  |  | (11,844)
|  |  | 168,854
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Mr M A C Hunt
Director
Date: 11 February 2026
The notes on pages 3 to 8 form part of these financial statements. Page 1
BLCP RS HOLDCO V LTD STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31 AUGUST 2025
| Called up share capital | Share premium account | Profit and loss account | Total equity
| £ | £ | £ | £
Comprehensive income for the period |  |  |  |
Loss for the period | - | - | (11,844) | (11,844)
Total comprehensive income for the period | - | - | (11,844) | (11,844)
Contributions by and distributions to owners |  |  |  |
Shares issued during the period | 1,809 | 178,889 | - | 180,698
At 31 August 2025 | 1,809 | 178,889 | (11,844) | 168,854
| The notes on pages 3 to 8 form part of these financial statements.
Page 2
BLCP RS HOLDCO V LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2025
1. | General information
BLCP RS Holdco V Ltd 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 current accounting period runs from the 11 May 2024 to 31 August 2025. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Going concern
The financial statements have been prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. In assessing the appropriateness of the going concern basis, the directors have considered the company’s ongoing projects and forecast cash flows. In the event of any project cost overruns, the directors have confirmed that such costs will be covered by the funders of the business. The company has access to readily available funding, and the directors are satisfied that sufficient financial resources will be available to meet the company’s obligations as they fall due.
| 2.3 | Interest income
Interest income is recognised in the Income statement using the effective interest method.
| 2.4 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.5 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.6 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 3
BLCP RS HOLDCO V LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.7 | Current and deferred taxation
Tax is recognised in the Income statement except that a charge attributable to an item of income and expense recognised as other comprhensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.8 | 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. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Basic financial liabilities 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 the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted Page 4
BLCP RS HOLDCO V LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.8 | Financial instruments (continued)
where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
3. | Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the opinion of the directors there are no judgements or key sources of estimation uncertainty that affect the preparation of the financial statements.
4. | Employees
| The average monthly number of employees, including directors, during the period was 3.
5. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| Additions | 1
| At 31 August 2025 | 1
| The investments in subsidiary companies addition in the year of £1 relates to a holding of 100% of the issued share capital of BLCP Devon St Midco Ltd, a company incorporated in England and Wales.
Page 5
BLCP RS HOLDCO V LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2025
6. | Debtors
|  |  |  |  | 2025
|  |  |  |  | £
| Amounts owed by group undertakings | 192,145
| Other debtors | 1
|  | 192,146
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025
|  |  |  |  | £
| Amounts owed to group undertakings | 1
| Accruals and deferred income | 3,000
|  | 3,001
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025
|  |  |  |  | £
| Amounts owed to group undertakings | 20,292
|  | 20,292
Page 6
BLCP RS HOLDCO V LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2025
9. | Share capital
|  |  |  |  | 2025
|  |  |  |  | £
|  | Allotted, called up and fully paid |
|  | 1 A Ordinary share with a nominal value of £1.00 each | 1
|  | 1 B Ordinary share with a nominal value of £1.00 each | 1
|  | 180,696 Preference shares shares with a nominal value of £0.01 each | 1,807
|  |  | 1,809
The 1 A Ordinary share of £1.00 each ranks pari passu in all respects with the B Ordinary share save that the shareholders may agree to differential distributions of dividend, sale proceeds and available proceeds on a winding up, in respect of each separate class of share. Each share carries one vote. The holders of the A Ordinary share may appoint one director. The share is not redeemable. The 1 B Ordinary share of £1.00 each ranks pari passu in all respects with the A Ordinary share save that the shareholders may agree to differential distributions of dividend, sale proceeds and available proceeds on a winding up, in respect of each separate class of share. Each share carries one vote. The holders of the B Ordinary share may appoint two directors. The shares are not redeemable. The 180,696 Preference shares of £0.01 each carry a right to a coupon of 15% per annum, compounding on a monthly basis. The holders of the Preference shares may receive distributions of dividends, sale proceeds and available proceeds on a winding up as agreed between the A Ordinary and B Ordinary shareholders. The preference shares are redeemable as agreed between the A Ordinary shareholders and the B Ordinary shareholders. Holders shall not be entitled to receive notice of and/or to attend, speak and vote at any general meetings or to receive and vote on proposed written resolutions of the company.
10. | Share premium
|  |  |  |  | 2025
|  |  |  |  | £
| Premium on preference shares issued during the year | 178,889
|  | 178,889
11. | Related party disclosures
| The company has taken advantage of the exemption under the terms of FRS 102, paragraph 33.1A not to disclose related party transactions with wholly owned subsidiaries within the group. In other debtors there is an amount of £1 owed by RS V Lux 8 Sarl, a 50% shareholder in the company. This balance is not subject to interest and is deemed to be payable on demand. In amounts owed to group undertakings is an amount of £20,292 owed to BLCP RS Sponsorco Ltd, a 50% shareholder in the company. This balance relates to the 15% interest charged on the preference shares acquried by BLCP RS Sponsorco Ltd and is payable in more than one year.
Page 7
BLCP RS HOLDCO V LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2025
12. | Contingent liabilities
The company has entered into a cross-guarantee to provide security for loan facilities that have been provided to BLCP Devon Street Propco Ltd, a fellow group entity. As at the period end, the loan facilities provided totalled £3,983,709. The negative pledge is secured by way of fixed and floating charge in respect of the assets of the company.
13. | Auditors' information
The auditors' report on the financial statements for the period ended 31 August 2025 was unqualified. The audit report was signed on 11 February 2026 by Mr James Tillotson (Senior Statutory Auditor) on behalf of Wellers.
Page 8