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Registered number: 14129833 BLCP RS SPONSORCO LTD FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 AUGUST 2025
BLCP RS SPONSORCO LTD REGISTERED NUMBER: 14129833 BALANCE SHEET AS AT 31 AUGUST 2025
|  |  |  | Unaudited - As restated
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 5 |  | 1,141,184 |  | 960,488
|  |  | 1,141,184 |  | 960,488
Current assets |  |  |  |  |
Debtors | 6 | 1,175,314 |  | 732,215 |
Cash at bank and in hand | 7 | 83,661 |  | 397,437 |
|  | 1,258,975 |  | 1,129,652 |
Creditors: amounts falling due within one year | 8 | (1,393,897) |  | (1,393,235) |
Net current liabilities |  |  | (134,922) |  | (263,583)
Total assets less current liabilities |  |  | 1,006,262 |  | 696,905
Net assets |  |  | 1,006,262 |  | 696,905
Capital and reserves |  |  |  |  |
Profit and loss account |  |  | 1,006,262 |  | 696,905
|  |  | 1,006,262 |  | 696,905
Page 1
BLCP RS SPONSORCO LTD REGISTERED NUMBER: 14129833 BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2025 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 5 to 10 form part of these financial statements. Page 2
BLCP RS SPONSORCO LTD STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 AUGUST 2025
| Profit and loss account | Total equity
| £ | £
At 1 September 2024 | 696,905 | 696,905
Comprehensive income for the year |  |
Profit for the year | 309,357 | 309,357
Total comprehensive income for the year | 309,357 | 309,357
At 31 August 2025 | 1,006,262 | 1,006,262
| The notes on pages 5 to 10 form part of these financial statements.
Page 3
BLCP RS SPONSORCO LTD STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 AUGUST 2024
| Profit and loss account | Total equity
| £ | £
At 1 September 2023 | 445,938 | 445,938
Comprehensive income for the year |  |
Profit for the year | 250,967 | 250,967
Total comprehensive income for the year | 250,967 | 250,967
At 31 August 2024 | 696,905 | 696,905
| The notes on pages 5 to 10 form part of these financial statements.
Page 4
BLCP RS SPONSORCO LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
1. | General information
BLCP RS Sponsorco 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. 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 forming this assessment, the directors have considered the company’s current financial position and future cash flow requirements. A significant proportion of the balance due from debtors is expected to be realised in the foreseeable future, as this relates to amounts receivable from the sale of a property that is currently in progress. In addition, the majority of the company’s creditors relate to entities under the control of the two directors. The directors have confirmed that these balances will not be called upon unless the company has sufficient funds to do so.
| 2.3 | Turnover
Turnover is stated net of VAT. Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date, revenue represents the value of the services provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year. Turnover is based on contractual sums owned to the company with reference to the stage of completion of a specific construction project which the company project manages.
| 2.4 | Interest income
Interest income is recognised in the Income statement using the effective interest method.
| 2.5 | Finance costs
Finance costs are charged to the Income statement over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. Page 5
BLCP RS SPONSORCO LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.6 | Taxation
Tax is recognised in the Income statement except that a charge attributable to an item of income and expense recognised as other comprehensive 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.
| 2.7 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.8 | 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.
| 2.9 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.10 | 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.
| 2.11 | 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. Page 6
BLCP RS SPONSORCO LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.11 | Financial instruments (continued)
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 where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
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 other than the recoverability of intercompany loans.
4. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
Page 7
BLCP RS SPONSORCO LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
5. | Fixed asset investments
|  | Other investments
|  | £
| Cost or valuation |
| At 1 September 2024 | 960,488
| Additions | 180,696
| At 31 August 2025 | 1,141,184
| The other investments balance of £960,488 relates to a holding of 50% of the issued share capital of BLCP RS HoldCo Limited, a company incorporated in England and Wales, alongisde an investment in 100% of the issued preference shares in the same entity. The other investments addition in the year of £180,696 relates to a holding of 50% of the issued share capital of BLCP RS HoldCo V Ltd, a company incorporated in England and Wales, alongisde an investment into 100% of the issued preference shares in the same entity.
6. | Debtors
|  |  |  |  |  | Unaudited - As restated
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due after more than one year |  |
| Amounts owed by associated undertakings | 20,292 | 350,859
|  | 20,292 | 350,859
| Due within one year |  |
| Amounts owed by associated undertakings | 1,146,895 | 369,758
| Other debtors | - | 11,598
| Prepayments and accrued income | 8,127 | -
|  | 1,175,314 | 732,215
Page 8
BLCP RS SPONSORCO LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
7. | Cash and cash equivalents
|  |  |  |  |  | Unaudited - As restated
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 83,661 | 397,437
|  | 83,661 | 397,437
8. | Creditors: Amounts falling due within one year
|  |  |  |  |  | Unaudited - As restated
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 215 | -
| Amounts owed to associated undertakings | 1,340,488 | 1,360,488
| Corporation tax | 36,575 | 21,310
| Other taxation and social security | 5,625 | -
| Other creditors | 7,472 | 2,822
| Accruals and deferred income | 3,522 | 8,615
|  | 1,393,897 | 1,393,235
9. | Share capital
|  |  |  |  |  | Unaudited - As restated
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 2 (2024 - 2) Ordinary shares with a nominal value of £0.01 each | - | -
10. | Directors' advances, credits and gurantees
Included within the other creditors balance is an amount of £7,472 (2024: £2,819), owed by the company to a director. The outstanding balance is not subject to interest, and is deemed repayable on demand. Page 9
BLCP RS SPONSORCO LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
11. | Related party disclosures
| In amounts owed to associated undertakings, there are balances owed to Lowethorpe Limited and Blacklight Holdings Limited. The details of these balances are shown below. There is a loan of £670,243.50 (2024: £680,243.50) from Lowethorpe Limited, a 50% shareholder in the company. The balance is not subject to interest and is deemed repayable on demand. There is a loan of £670,244.50 (2024: £680,244.50) from Blacklight Holdings Limites, a 50% shareholder in the company. The balance is not subject to interest and deemed is repayable on demand. In amounts owed by associated undertakings, there are balances owed by BLCP Devon St PropCo Limited, BLCP Liverpool PropCo Limited, BLCP RS HoldCo Limited and BLCP RS HoldCo V Limited. The details of the balances are shown below. An amount of £12,398 (2024: £Nil) is owed by BLCP Devon St PropCo Limited, an associate of the company. This balance is not subject to interest and is deemed repayable on demand. An amount of £562,110 (2024: £205,259) is owed by BLCP Liverpool PropCo Limited, an associate of the company. This balance is not subject to interest and is deemed repayable on demand. An amount of £572,387 (2024: £350,859) is owed by BLCP RS HoldCo Limited, an associate of the company. BLCP RS SponsorCo Limited holds preference shares in BLCP RS HoldCo Limited for the amount of £960,487, with compound interest charged at a rate of 15%, resulting in £221,528 (2024: £181,610) falling receivable during the year. An amount of £20,292 (2024: £Nil) is owed by BLCP RS HoldCo V Limited, an associate of the company. BLCP RS SponsorCo Limited holds preference shares in BLCP RS HoldCo V Limited for an amount of £180,696, with compound interest charged at a rate of 15%, resulting in £20,292 (2024: £Nil) falling receivable in more than one year.
12. | Controlling party
There is no overall controlling party in the year.
13. | Restatement note
The prior year financial statements have been restated to correct a material error identified in the previous reporting period. £76,999 of direct expenses were recoverable from a group company and were therefore not expenses of the company. This reclassification resulted in amounts owed by associated undertakings under Debtors: Amounts falling due within one year increasing from £292,759 to £369,758, and Corporation tax under Creditors: Amounts falling due within one year increasing from £3,338 to £21,310.
14. | Auditors' information
The auditors' report on the financial statements for the year 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.
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