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Registration number: 15737339

Piffs Elm Investments Limited
Unaudited Filleted Financial Statements
for the Period from 23 May 2024 to 31 October 2025

Piffs Elm Investments Limited

Contents

Balance Sheet | 1
Notes to the Unaudited Financial Statements | 2 to 5

Piffs Elm Investments Limited

(Registration number: 15737339)
Balance Sheet as at 31 October 2025

| Note | 2025 £
Fixed assets |  |
Investments | 4 | 1,563,790
Current assets |  |
Cash at bank and in hand |  | 10,225
Creditors: Amounts falling due within one year | 5 | (117,936)
Net current liabilities |  | (107,711)
Total assets less current liabilities |  | 1,456,079
Creditors: Amounts falling due after more than one year | 5 | (1,185,764)
Net assets |  | 270,315
Capital and reserves |  |
Called up share capital | 6 | 190
Share premium reserve |  | 90,810
Retained earnings |  | 179,315
Shareholders' funds |  | 270,315

For the financial period ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 February 2026 and signed on its behalf by:

......................................... S Bound Director

Piffs Elm Investments Limited

Notes to the Unaudited Financial Statements for the Period from 23 May 2024 to 31 October 2025

1 | General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The Gloucester Old Spot
Tewkesbury Road
Piffs Elm
Cheltenham
Gloucestershire
GL51 9SY
England

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Piffs Elm Investments Limited

Notes to the Unaudited Financial Statements for the Period from 23 May 2024 to 31 October 2025 (continued)

2 | Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

Piffs Elm Investments Limited

Notes to the Unaudited Financial Statements for the Period from 23 May 2024 to 31 October 2025 (continued)

4 | Investments

| 2025 £
Investments in subsidiaries | 1,563,790

Subsidiaries | £
Cost or valuation
Additions | 1,563,790
Provision
Carrying amount
At 31 October 2025 | 1,563,790

5 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £
Due within one year |  |
Loans and borrowings | 7 | 116,386
Accruals and deferred income |  | 1,500
Other creditors |  | 50
|  | 117,936

Creditors: amounts falling due after more than one year

| Note | 2025 £
Due after one year |  |
Loans and borrowings | 7 | 1,185,764

Loans and borrowings are secured by way of a fixed charge against the assets of the company.

Piffs Elm Investments Limited

Notes to the Unaudited Financial Statements for the Period from 23 May 2024 to 31 October 2025 (continued)

6 | Share capital

Allotted, called up and fully paid shares

| 2025
| No. | £
Ordinary shares of £0.10 each | 1,710 | 171
Ordiary A shares of £0.10 each | 190 | 19
| 1,900 | 190

7 | Loans and borrowings

Non-current loans and borrowings

| 2025 £
Other borrowings | 1,185,764

Current loans and borrowings

| 2025 £
Other borrowings | 116,386