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Registered number: 06600252 OPTICREALM (RENTALS) LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MAY 2025
OPTICREALM (RENTALS) LIMITED REGISTERED NUMBER: 06600252 BALANCE SHEET AS AT 31 MAY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 27,776 |  | 10,995
Lease premiums paid |  |  | 5,000,000 |  | 5,120,000
Current assets |  |  |  |  |
Debtors | 5 | 571,047 |  | 153,229 |
Cash at bank and in hand |  | 2,699 |  | - |
Creditors: amounts falling due within one year | 6 | (870,036) |  | (641,759) |
Net current liabilities |  |  | (296,290) |  | (488,530)
Total assets less current liabilities |  |  | 4,731,486 |  | 4,642,465
Creditors: amounts falling due after more than one year | 7 |  | (3,707,682) |  | (4,291,987)
Provisions for liabilities |  |  |  |  |
Deferred tax | 8 | (2,505) |  | (788) |
|  |  | (2,505) |  | (788)
Net assets |  |  | 1,021,299 |  | 349,690
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 1,000 |  | 1,000
Profit and loss account |  |  | 1,020,299 |  | 348,690
|  |  | 1,021,299 |  | 349,690
Page 1
OPTICREALM (RENTALS) LIMITED REGISTERED NUMBER: 06600252 BALANCE SHEET (CONTINUED) AS AT 31 MAY 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 on 13 February 2026.
................................................ T J Cockburn
Director
The notes on pages 3 to 8 form part of these financial statements. Page 2
OPTICREALM (RENTALS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
1. | General information
Opticrealm (Rentals) Limited is a private company, limited by shares, incorporated in England and Wales with the registration number 06600252. The address of the registered office is 2a Ferdinand Place, London, England, NW1 8EE. The financial statements are presented in sterling, which is the functional currency of the company, and rounded to the nearest £. 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and 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 Company is dependent upon its immediate parent company, Opticrealm Limited, for financial support. Therefore, the directors have obtained confirmation from the immediate parent company that they will continue to provide financial support and not call in amounts due unless there are sufficient funds to do so and it would not harm the going concern status of the company. The directors have considered a period of twelve months from the approval date of these financial statements and, with the support of the Group, believe it is appropriate that these financial statements should be prepared on a going concern basis.
| 2.3 | Revenue
Turnover comprises rents receivable by the company in respect of the accounting period. Rental income is recognised on a straight line basis over the life of lease granted.
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 3
OPTICREALM (RENTALS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.5 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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.
| 2.6 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 25% | straight line
|  |  |  | Fixtures and fittings | - | 25% | straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Page 4
OPTICREALM (RENTALS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.7 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.8 | Lease premiums paid
Lease premiums paid are initially recognised at cost and amortised over the life of the lease entered into.
3. | Employees
| The Company has no employees other than the directors, who did not receive any remuneration (2024 - £NIL)
4. | Tangible fixed assets
|  | Plant and machinery | Fixtures and fittings | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 June 2024 | 4,200 | 10,462 | 14,662
| Additions | 9,068 | 13,802 | 22,870
| At 31 May 2025 | 13,268 | 24,264 | 37,532
| Depreciation |  |  |
| At 1 June 2024 | 1,050 | 2,617 | 3,667
| Charge for the year on owned assets | 2,140 | 3,949 | 6,089
| At 31 May 2025 | 3,190 | 6,566 | 9,756
| Net book value |  |  |
| At 31 May 2025 | 10,078 | 17,698 | 27,776
| At 31 May 2024 | 3,150 | 7,845 | 10,995
Page 5
OPTICREALM (RENTALS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due after more than one year |  |
| Lease premiums paid | 5,000,000 | 5,120,000
| Due within one year |  |
| Trade debtors | 11,547 | -
| Amounts owed by group undertakings | - | 33,229
| Amounts owed by associated companies | 439,500 | -
| Prepayments and accrued income | 120,000 | 120,000
|  | 5,571,047 | 5,273,229
| £5,000,000 (2024 - £5,120,000) of lease premiums paid is classified as non current. Lease premiums paid are initially recognised at cost and released to the profit and loss account over the life of lease entered into.
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 22,708 | -
| Corporation tax | 434,496 | 362,227
| Other creditors | 325,562 | 274,799
| Accruals and deferred income | 87,270 | 4,733
|  | 870,036 | 641,759
7. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed to group undertakings | 3,707,682 | 4,291,987
| Repayment of amounts due to group undertakings is unsecured and repayable on demand. Interest accrues on the balance at 6.5%.
Page 6
OPTICREALM (RENTALS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
8. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | (788)
| Charged to profit or loss | (1,717)
| At end of year | (2,505)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (2,505) | (788)
9. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1,000 (2024 - 1,000) Ordinary shares of £1.00 each | 1,000 | 1,000
Page 7
OPTICREALM (RENTALS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
10. | Commitments under operating leases
| At 31 May 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 1,235,834 | 1,235,834
| Later than 1 year and not later than 5 years | 4,943,335 | 4,943,335
| Later than 5 years | 12,250,006 | 13,485,840
|  | 18,429,175 | 19,665,009
11. | Related party transactions
| The Company has taken advantage of the exemption in FRS 102 Section 1A from disclosing transactions with its parent company and other wholly owned members of the group. The amount due from associated companies under common control at the year-end was £439,500 (2024 - £Nil). The amount due to the parent company at the year-end totalled £3,707,682 (2024 - £4,291,988).
12. | Controlling party
The Company's immediate parent is Opticrealm Limited, a company incorporated in England and Wales. The ultimate parent is Opticrealm Holdings Limited, a company incorporated in England and Wales.
13. | Auditors' information
The auditors' report on the financial statements for the year ended 31 May 2025 was unqualified. The audit report was signed on 18 February 2026 by Tom Beable FCA (Senior Statutory Auditor) on behalf of PKF Francis Clark.
Page 8