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Registered number: 04095968 PRINCES GATE COURT RESIDENTS LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2025
PRINCES GATE COURT RESIDENTS LIMITED REGISTERED NUMBER: 04095968 BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 2,228 |  | 10,963
Investment property | 5 |  | 493,935 |  | 493,935
|  |  | 496,163 |  | 504,898
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 7 | 53 |  | 289 |
Cash at bank and in hand |  | - |  | 3,271 |
|  | 53 |  | 3,560 |
Creditors: amounts falling due within one year | 8 | (125,243) |  | (82,093) |
Net current liabilities |  |  | (125,190) |  | (78,533)
Total assets less current liabilities |  |  | 370,973 |  | 426,365
Provisions for liabilities |  |  |  |  |
Deferred tax | 9 | (114,750) |  | (118,692) |
|  |  | (114,750) |  | (118,692)
Net assets |  |  | 256,223 |  | 307,673
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 46 |  | 46
Profit and loss account |  |  | 256,177 |  | 307,627
|  |  | 256,223 |  | 307,673
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PRINCES GATE COURT RESIDENTS LIMITED REGISTERED NUMBER: 04095968 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. 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:
........................................... R D Bond
Director
Date: 4 May 2026
The notes on pages 3 to 7 form part of these financial statements. Page 2
PRINCES GATE COURT RESIDENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | GENERAL INFORMATION
Princes Gate Court Residents Limited is a private Company limited by shares incorporated in England within the United Kingdom. The address of the registered office is given in the company information page of these financial statements. 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 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 | TURNOVER
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
| 2.3 | 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:
|  |  |  | Freehold property | - | 20% |
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 the Statement of Income and Retained Earnings.
| 2.4 | INVESTMENT PROPERTY
Investment property is carried at fair value determined annually by the directors as outlined in Note 6. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings. Page 3
PRINCES GATE COURT RESIDENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.5 | 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 in the Statement of Income and Retained Earnings.
| 2.6 | CURRENT AND DEFERRED TAXATION
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings 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.
3. | EMPLOYEES
The average number of employees, including directors, during the year was 0 (2024 - 0). Page 4
PRINCES GATE COURT RESIDENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
4. | TANGIBLE FIXED ASSETS
|  | Freehold property
|  | £
| Cost or valuation |
| At 1 January 2025 | 43,719
| At 31 December 2025 | 43,719
| Depreciation |
| At 1 January 2025 | 32,756
| Charge for the year on owned assets | 8,735
| At 31 December 2025 | 41,491
| Net book value |
| At 31 December 2025 | 2,228
| At 31 December 2024 | 10,963
5. | INVESTMENT PROPERTY
|  | Freehold investment property
|  | £
| Valuation |
| At 1 January 2025 | 493,935
| At 31 December 2025 | 493,935
| At 31 December 2025
| If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Historic cost | 23,856 | 23,856
|  | 23,856 | 23,856
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PRINCES GATE COURT RESIDENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
6. | CHANGE IN CLASSIFICATION OF FREEHOLD REVERSIONS
| At the reporting date, the company held the freehold interest in three leasehold properties - Flat 4, Garage 4, and the Bookstore - each of which has an unexpired lease term of approximately 48 years before reversion to the company. The company's directors have determined that these interests meet the definition of investment property under FRS 102 Section 16, being assets held to earn rental income (ground rents) and for capital appreciation. The freehold reversions have therefore been measured at fair value in the financial statements. The fair values have been determined internally using a discounted cash-flow (DCF) approach. The DCF estimates the present value of each property's future vacant possession value at lease expiry, discounted at an annual deferment rate of 5%, consistent with market practice (Sportelli basis). No external valuation has been obtained, as the directors consider that fair values can be measured reliably without undue cost or effort. The directors consider that the assumptions used (vacant possession values per square foot and a 5% deferment rate) reflect current market evidence and represent a reasonable estimate of fair value in accordance with FRS 102 Section 16. Valuation summary as at 31 December 2025:
|  | Area | Value psf | Vacant possession value | Discount factor | Fair value of reversion |
|  | sq ft | £ | £ | % | £ |
| Property |  |  |  |  |  |
| Flat 4 | 1,897 | 2,112 | 4,006,464 | 9.25 | 370,597 |
| Garage 4 | 170 | 1,470 | 250,000 | 9.25 | 23,125 |
| Bookstore | 737 | 1,470 | 1,083,390 | 9.25 | 100,213 |
|  |  |  |  |  | 493,935 |
| Movements in fair value will be recognised through the Statement of Income and Retained Earnings in future periods.
7. | DEBTORS
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 53 | 289
|  | 53 | 289
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PRINCES GATE COURT RESIDENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
8. | CREDITORS: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due to service charge | 122,146 | 79,146
| Rents received in advance | 3,097 | 2,947
|  | 125,243 | 82,093
9. | DEFERRED TAXATION
|  | 2025 | 2024
|  | £ | £
| At beginning of year | (118,692) | (4,329)
| Charged to profit or loss | 3,942 | (114,363)
| At end of year | (114,750) | (118,692)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (557) | (2,729)
| Tax losses carried forward | 3,326 | 1,557
| Fair value movements | (117,520) | (117,520)
|  | (114,751) | (118,692)
10. | SHARE CAPITAL
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 46 (2024 - 46) Ordinary shares of £1.00 each | 46 | 46
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