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REGISTERED NUMBER: SO302648 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 January 2026

for

PCF Partnership LLP
PCF Partnership LLP (Registered number: SO302648)

Contents of the Financial Statements
for the year ended 31 January 2026










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PCF Partnership LLP

General Information
for the year ended 31 January 2026







Designated members: Juan Castella
Olivia Castella
Daniel Castella





Registered office: Clyde Offices
West George Street
Glasgow
G2 1BP





Registered number: SO302648 (Scotland)





Accountants: Cooper Parry Advisory Limited
Broadwalk House, 5th Floor
5 Appold Street
Broadgate
London
EC2A 2AG
Page 1
PCF Partnership LLP (Registered number: SO302648)

Balance Sheet
31 January 2026

2026 2025
Notes £ £ £ £
Fixed assets
Investment property 5 681,000 681,000

Current assets
Debtors 6 119,066 1,290
Cash at bank 154,061 301,299
273,127 302,589
Creditors: amounts falling due within one
year
7
3,637
1,584
Net current assets 269,490 301,005
Total assets less current liabilities
and
Net assets attributable to members 950,490 982,005

Loans and other debts due to members 8 469,014 508,704

Members' other interests
Capital accounts 100,000 100,000
Other reserves 381,476 373,301
950,490 982,005

Total members' interests
Loans and other debts due to members 8 469,014 508,704
Members' other interests 481,476 473,301
950,490 982,005

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 January 2026.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The notes form part of these financial statements

Page 2
PCF Partnership LLP (Registered number: SO302648)

Balance Sheet - continued
31 January 2026


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 23 April 2026 and were signed by:





Juan Castella - Designated member

The notes form part of these financial statements

Page 3
PCF Partnership LLP (Registered number: SO302648)

Notes to the Financial Statements
for the year ended 31 January 2026


1. Statutory information

PCF Partnership LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page.

2. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Set out below is a summary of the principal accounting policies, all of which have been applied consistently (except as otherwise stated).

Significant judgements and estimates
In applying the LLP's accounting policies, the members are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The members' judgements, estimated and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

Critical judgements in applying the LLP's accounting policies
The critical judgement that the members have made in the process of applying the LLP's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below:

(i) Assessing indicators and impairment
In assessing whether there have been any indicators or impairment assets, the members have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience or recoverability. There have been no indicators or impairments identified during the current financial year.

Key sources of estimation uncertainty
The key assumptions concerning the future, and other key sources of estimation uncertainty that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below:

(i) Recoverability of receivables
The LLP establishes a provision for receivables that are estimated not to be recoverable. When assessing recoverability the members consider factors such as the aging of the receivables, past experience and recoverability, and the credit profile of individual or groups of customers.

Turnover
Turnover represents income from sale of properties and gross rental income and is recognised in the period to which the income relates.

Page 4
PCF Partnership LLP (Registered number: SO302648)

Notes to the Financial Statements - continued
for the year ended 31 January 2026


3. Accounting policies - continued

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair values is recognised in profit or loss. The members consider this to be a fair value for the investment property.

No depreciation is provided for in respect of investment properties 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".

Taxation
Taxation on all partnership results is solely the personal liability of the individual members.

Consequently neither taxation, nor deferred taxation arising in respect of the partnership are accounted for in these financial statements.

Provisions
Provisions are recognised when there is a present obligation (legal or constructive) as a result of a past event, it is probably that the obligation will be required to be settled, and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting taking into account the risks and uncertainties surrounding the obligation. Provisions are discounted when the time value of money is material.

Going concern
These financial statements have been prepared on a going concern basis.

The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts upon the LLP's ability to continue as a going concern. Thus the members have continued to adopt the going concern basis of accounting in preparing these financial statements.

4. Employee information

The average number of employees during the year was NIL (2025 - NIL).

5. Investment property
Total
£
Fair value
At 1 February 2025
and 31 January 2026 681,000
Net book value
At 31 January 2026 681,000
At 31 January 2025 681,000

Fair value at 31 January 2026 is represented by:
£
Valuation in 2018 681,000

The property was valued by the Designated members on an open market basis.

Page 5
PCF Partnership LLP (Registered number: SO302648)

Notes to the Financial Statements - continued
for the year ended 31 January 2026


6. Debtors: amounts falling due within one year
2026 2025
£ £
Trade debtors 9,066 -
Other debtors 110,000 1,290
119,066 1,290

7. Creditors: amounts falling due within one year
2026 2025
£ £
Trade creditors 698 -
Taxation and social security 1,290 -
Other creditors 1,649 1,584
3,637 1,584

8. Loans and other debts due to members

In the event of winding up the amounts included in 'Loans and other debts due to members' will rank equally with unsecured creditors.

9. Ultimate controlling party

The ultimate controlling party is the Castella family.

Page 6