| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2025 |
| for |
| Culea Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2025 |
| for |
| Culea Limited |
| Culea Limited (Registered number: 07406261) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2025 |
| Page |
| Chartered accountants' report | 1 |
| Statement of financial position | 2 | to | 3 |
| Notes to the financial statements | 4 | to | 7 |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Culea Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Culea Limited for the year ended 31 December 2025 which comprise the Income statement, Statement of financial position, Statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Culea Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Culea Limited and state those matters that we have agreed to state to the Board of Directors of Culea Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Culea Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Culea Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Culea Limited. You consider that Culea Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Culea Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| 22 St George's Street |
| Stamford |
| Lincolnshire |
| PE9 2BU |
| Culea Limited (Registered number: 07406261) |
| Statement of Financial Position |
| 31 December 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 5 |
| Investments | 6 |
| Investment property | 7 |
| Current assets |
| Stocks |
| Debtors | 8 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 9 |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital | 12 |
| Fair value reserve | 13 |
| Retained earnings |
| Shareholders' funds |
| Culea Limited (Registered number: 07406261) |
| Statement of Financial Position - continued |
| 31 December 2025 |
| 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 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 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Culea Limited (Registered number: 07406261) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2025 |
| 1. | Statutory information |
| Culea Limited is a |
| Registered number: |
| Registered office: |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | Statement of compliance |
| 3. | Accounting policies |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Investments in associates |
| Investments in associate undertakings are recognised at cost. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is credited to/debited from the fair value reserve net of the associated cost for tax. |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| Taxation |
| Taxation for the year comprises current and deferred 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 or deferred 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. |
| Culea Limited (Registered number: 07406261) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2025 |
| 3. | Accounting policies - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 4. | Employees and directors |
| The average number of employees during the year was |
| 5. | Tangible fixed assets |
| Plant and |
| machinery |
| etc |
| £ |
| Cost |
| Additions |
| At 31 December 2025 |
| Depreciation |
| Charge for year |
| At 31 December 2025 |
| Net book value |
| At 31 December 2025 |
| 6. | Fixed asset investments |
| Interest |
| in |
| associate |
| £ |
| Cost |
| At 1 January 2025 |
| and 31 December 2025 |
| Net book value |
| At 31 December 2025 |
| At 31 December 2024 |
| Culea Limited (Registered number: 07406261) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2025 |
| 7. | Investment property |
| Total |
| £ |
| Fair value |
| At 1 January 2025 |
| Revaluations | 121,668 |
| At 31 December 2025 |
| Net book value |
| At 31 December 2025 |
| At 31 December 2024 |
| Fair value at 31 December 2025 is represented by: |
| £ |
| Valuation in 2014 | 18,847 |
| Valuation in 2015 | 30,000 |
| Valuation in 2023 | (2,230 | ) |
| Valuation in 2025 | 121,668 |
| Cost | 554,715 |
| 723,000 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2025 | 2024 |
| £ | £ |
| Cost | 554,715 | 554,715 |
| Investment property was valued on an open market basis on 31 December 2025 by the directors . |
| 8. | Debtors |
| 2025 | 2024 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Tax |
| VAT |
| Prepayments and accrued income |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| Culea Limited (Registered number: 07406261) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2025 |
| 9. | Creditors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Amounts owed to participating interests | 108,000 | 72,000 |
| Corporation tax |
| VAT | 16 | - |
| Other creditors |
| Directors' loan accounts | 199,936 | 799,324 |
| Accruals and deferred income |
| 10. | Creditors: amounts falling due after more than one year |
| 2025 | 2024 |
| £ | £ |
| Bank loans - over 1 year |
| Bank loans over 1 year include £198,775 (2024 £166,086) payable other than by instalments after five years |
| 11. | Secured debts |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| The bank loans are secured on the investment properties |
| 12. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 13. | Reserves |
| Fair |
| value |
| reserve |
| £ |
| At 1 January 2025 |
| Reclassification from p&l |
| reserve to fair value reserve | 91,795 |
| At 31 December 2025 |