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REGISTERED NUMBER: 02381211 (England and Wales)

| Port Pendennis Village Management |

| Limited |

| Unaudited Financial Statements |

| for the Year Ended 31st December 2025 |

| Port Pendennis Village Management |

| Limited (Registered number: 02381211) |

Contents of the Financial Statements

for the Year Ended 31st December 2025

Page |

| Company Information | 1 |

| Statement of Financial Position | 2 |

| Notes to the Financial Statements | 4 |

| Port Pendennis Village Management |

| Limited |

Company Information

for the Year Ended 31st December 2025

| DIRECTORS: | Mrs G B Davies

| Mr A Castle

| Mr M J Beach

| Mr J W Langford

| Mr P Lewis

| Mr J M Penty

| Dr G K Cook

| Mr G J Roberts

| SECRETARY: | Vickery Holman Ltd

| REGISTERED OFFICE: | Vickery Holman

| Walsingham House

| Newham Quay

| Truro

| Cornwall

| TR1 2DP

| REGISTERED NUMBER: | 02381211 (England and Wales)

| ACCOUNTANTS: | Hodgsons

| Chartered Accountants

| 48 Arwenack Street

| Falmouth

| Cornwall

| TR11 3JH

| Port Pendennis Village Management |

| Limited (Registered number: 02381211) |

Statement of Financial Position

31st December 2025

| 2025 |  | 2024

| as | restated |

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 33,039 |  | 37,160 |  |

CURRENT ASSETS

Debtors | 5 | 163,812 |  | 132,256 |  |

Investments | 6 | 283,202 |  | 204,653 |  |

Cash at bank | 75,009 |  | 73,788 |  |

522,023 |  | 410,697 |  |

CREDITORS

Amounts falling due within one year | 7 | (59,977 | ) | (56,554 | ) |

NET CURRENT ASSETS | 462,046 |  | 354,143 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 495,085 |  | 391,303 |  |

RESERVES

Schedule 1 retained earnings | 422,868 |  | 336,542 |  |

Schedule 2 retained earnings | 8 | 23,287 |  | 11,381 |  |

Schedule 3 retained earnings | 48,930 |  | 43,380 |  |

495,085 |  | 391,303 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

| Port Pendennis Village Management |

| Limited (Registered number: 02381211) |

Statement of Financial Position - continued

31st December 2025

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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 31st March 2026 and were signed on its behalf by:

Mrs G B Davies - Director

Mr G J Roberts - Director

| Port Pendennis Village Management |

| Limited (Registered number: 02381211) |

Notes to the Financial Statements

for the Year Ended 31st December 2025

1. | STATUTORY INFORMATION

| Port Pendennis Village Management Limited is a private company, limited by guarantee, registered in England and Wales. The company's registered number is 02381211. The company's registered office is Walsingham House, Newham Quay, Truro, Cornwall, TR1 2DP. The financial statements cover a single entity.

| The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements have been rounded to the nearest Pound.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Turnover

| Turnover is recognised in the period to which the service charge relates. Revenue is stated gross of VAT as the company is not registered for VAT.

| Tangible fixed assets

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

| Plant and equipment | - | Straight line over 10 years

| Taxation

| Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current 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 statement of financial position date.

| Reversionary interest in freehold property

| The company owns the freehold known as Port Pendennis Village on which leases of 999 years have been granted. The property was transferred to the company by the developer at no cost. Accordingly the interest in the freehold is not quantified in the balance sheet.

| Financial instruments

| The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

| (i) Financial assets

| Basic financial assets, including trade and other receivables, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of future receipts, discounted at a market rate of interest.

| (ii) Financial liabilities

| Basic financial liabilities, including trade and other payables are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments, discounted at a market rate of interest.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Port Pendennis Village Management |

| Limited (Registered number: 02381211) |

Notes to the Financial Statements - continued

for the Year Ended 31st December 2025

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was NIL (2024 - NIL).

4. | TANGIBLE FIXED ASSETS

| Plant and

| equipment

£ |

| COST

| At 1st January 2025

| and 31st December 2025 | 41,208 |  |

| DEPRECIATION

| At 1st January 2025 | 4,048 |  |

| Charge for year | 4,121 |  |

| At 31st December 2025 | 8,169 |  |

| NET BOOK VALUE

| At 31st December 2025 | 33,039 |  |

| At 31st December 2024 | 37,160 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| as | restated |

£ | £ |

| Trade debtors | 10,939 |  | 468 |  |

| Vickery Holman client account | 120,787 |  | 105,190 |  |

| Prepayments | 32,086 |  | 26,598 |  |

163,812 |  | 132,256 |  |

6. | CURRENT ASSET INVESTMENTS

2025 | 2024 |

| as | restated |

£ | £ |

| Fixed term deposits | 283,202 |  | 204,653 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| as | restated |

£ | £ |

| Trade creditors | 8,664 |  | 9,209 |  |

| Tax | 2,197 |  | 2,356 |  |

| Service charge paid in advance | 34,088 |  | 16,660 |  |

| Accrued expenses | 15,028 |  | 28,329 |  |

59,977 |  | 56,554 |  |

| Port Pendennis Village Management |

| Limited (Registered number: 02381211) |

Notes to the Financial Statements - continued

for the Year Ended 31st December 2025

8. | RESERVES

|  | Schedule 1 |  |  | Schedule 2 |  |  | Schedule 3 |  |  | Total |  |

|  | £ |  |  | £ |  |  | £ |  |  | £ |  |

| At 1 January 2025 |  | 336,542 |  |  | 11,381 |  |  | 43,380 |  |  | 391,303 |  |

| Surplus before tax |  | 88,523 |  |  | 11,906 |  |  | 5,550 |  |  | 105,979 |  |

| Corporation tax charge |  | (2,197 | ) |  | - |  |  | - |  |  | (2,197 | ) |

| At 31 December 2025 |  | 422,868 |  |  | 23,287 |  |  | 48,930 |  |  | 495,085 |  |

| Schedule 1

| This reserve represents the day to day income and expenditure of the whole village and monies collected for capital expenditure that will be required at the village in future years.

| Schedule 2

| This reserve represents the communal areas for the flats within the village.

| Schedule 3

| This reserve represents the blocks within the village that contain lifts.

9. | RELATED PARTY DISCLOSURES

| The company owns the freehold land on which leases have been granted to 94 homeowners. The company's principal income is the service charge paid by the leaseholders for the management and maintenance of the land and properties. The directors are also leaseholders who pay a service charge to the company. The directors' service charges are calculated using the same basis as that used for all other leaseholders.

10. | SERVICE CHARGES

| The company has exercised its right under clause 50 of the lease agreements to vary the service charge contributions. These contributions are based on the individual floor area of the subject property, as a percentage of the total floor area of all applicable properties.