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Registration number: 01965575

Princebuild Holdings Limited
Annual Report and Financial Statements
for the Year Ended 30 September 2025

Princebuild Holdings Limited

Contents

Company Information | 1
Directors' Report | 2
Statement of Directors' Responsibilities | 3
Independent Auditor's Report | 4 to 6
Statement of Income and Retained Earnings | 7
Balance Sheet | 8
Notes to the Financial Statements | 9 to 15

Princebuild Holdings Limited

Company Information

Directors | S S Pudney M J Pudney D J Asplin M D Asplin J M Pudney

Company secretary | S S Pudney

Registered office | Empson Road Peterborough Cambridgeshire PE1 5UP

Solicitors | Buckles Solicitors Grant House 101 Bourges Boulevard Peterborough PE1 1NG

Auditors | Forrester Boyd Limited 26 South Saint Mary's Gate Grimsby North East Lincolnshire DN31 1LW

Princebuild Holdings Limited

Directors' Report for the Year Ended 30 September 2025

The Directors present their report and the financial statements for the year ended 30 September 2025.

Directors of the company

The Directors who held office during the year were as follows:

S S Pudney - Company secretary and director

M J Pudney

D J Asplin

M D Asplin

J M Pudney

Disclosure of information to the auditors

Each Director has taken steps that they ought to have taken as a Director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The Directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 6 May 2026 and signed on its behalf by:

......................................... M J Pudney Director

Princebuild Holdings Limited

Statement of Directors' Responsibilities

The Directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the Directors are required to:

• | select suitable accounting policies and apply them consistently;

• | make judgements and accounting estimates that are reasonable and prudent;

• | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Princebuild Holdings Limited

Independent Auditor's Report to the Members of Princebuild Holdings Limited

Opinion

We have audited the financial statements of Princebuild Holdings Limited (the 'company') for the year ended 30 September 2025, which comprise the Statement of Income and Retained Earnings, Balance Sheet, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• | give a true and fair view of the state of the company's affairs as at 30 September 2025 and of its profit for the year then ended;
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• | the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• | the Directors' Report has been prepared in accordance with applicable legal requirements.

Princebuild Holdings Limited

Independent Auditor's Report to the Members of Princebuild Holdings Limited

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
• | the financial statements are not in agreement with the accounting records and returns; or
• | certain disclosures of Directors' remuneration specified by law are not made; or
• | we have not received all the information and explanations we require for our audit; or
• | the Directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.

Responsibilities of Directors

As explained more fully in the Statement of Directors' Responsibilities as set out on page 3, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

• | The engagement partner ensured that the team had the appropriate competence, capabilities and skills to identify or recognise irregularities including fraud.
• | Discussions held with management including consideration of known or suspected instances of non-compliance.
• | Income streams were reviewed and agreed accurate and consistent with group undertakings and property ownership.
• | We reviewed and agreed the accuracy of the significant balances within the financial statements.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatment in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occuring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Princebuild Holdings Limited

Independent Auditor's Report to the Members of Princebuild Holdings Limited

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Neal Watford ACA (Senior Statutory Auditor)
For and on behalf of Forrester Boyd Limited, Statutory Auditor
26 South Saint Mary's Gate
Grimsby
North East Lincolnshire
DN31 1LW

6 May 2026

Princebuild Holdings Limited

Statement of Income and Retained Earnings for the Year Ended 30 September 2025

| Note | 2025 £ | 2024 £
Turnover |  | 1,036,228 | 960,613
Administrative expenses |  | (294,311) | (343,676)
Exceptional administrative expenses |  | (2,633,257) | -
Operating (loss)/profit |  | (1,891,340) | 616,937
Income from shares in group undertakings |  | 3,591,733 | 1,365,821
Other interest receivable and similar income |  | 6,398 | 5,915
Interest payable and similar charges |  | (42,755) | (69,917)
|  | 3,555,376 | 1,301,819
Profit before tax | 4 | 1,664,036 | 1,918,756
Taxation |  | (206,320) | (154,822)
Profit for the financial year |  | 1,457,716 | 1,763,934
Retained earnings brought forward |  | 12,206,907 | 12,142,127
Dividends paid |  | (1,591,733) | (1,699,154)
Retained earnings carried forward |  | 12,072,890 | 12,206,907

Princebuild Holdings Limited

(Registration number: 01965575)
Balance Sheet as at 30 September 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 5 | 68,015 | 4,166,080
Investment property | 6 | 7,185,973 | 2,715,000
Investments | 7 | - | 4,532,187
|  | 7,253,988 | 11,413,267
Current assets |  |  |
Debtors | 8 | 7,119,028 | 4,338,161
Cash at bank and in hand |  | 195,483 | 483,783
|  | 7,314,511 | 4,821,944
Creditors: Amounts falling due within one year | 9 | (558,261) | (2,501,508)
Net current assets |  | 6,756,250 | 2,320,436
Total assets less current liabilities |  | 14,010,238 | 13,733,703
Creditors: Amounts falling due after more than one year | 9 | (333,318) | (383,305)
Provisions for liabilities |  | (519,294) | (345,578)
Net assets |  | 13,157,626 | 13,004,820
Capital and reserves |  |  |
Called up share capital | 10 | 1,000 | 1,000
Revaluation reserve |  | 1,083,736 | 796,913
Retained earnings |  | 12,072,890 | 12,206,907
Shareholders' funds |  | 13,157,626 | 13,004,820

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 6 May 2026 and signed on its behalf by:

......................................... M J Pudney Director

Princebuild Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

1 | General information

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

The address of its registered office is:
Empson Road
Peterborough
Cambridgeshire
PE1 5UP

These financial statements were authorised for issue by the Board on 6 May 2026.

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 Section 1A of Financial Reporting Standard 102 '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.

The financial statements are prepared in sterling which is the functional currency of the company and have been rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Princebuild Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost or valuation, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Land | Not depreciated
Buildings | 2% straight liine
Furniture, fittings and equipment | 20% straight line
Motor vehicles | 25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Princebuild Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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 year, was 5 (2024 - 5).

4 | Profit before tax

Arrived at after charging/(crediting)

Princebuild Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

| 2025 £ | 2024 £
Depreciation expense | 98,721 | 98,721
Income from shares in group undertakings | (3,591,733) | (1,365,821)
Write-off of group loan balances | (1,898,930) | -
Loss on disposal of shares in subsidiary undertakings | 4,532,187 | -

The loss on disposal of shares in subsidiary undertakings and related write-off of group loan balances are presented as exceptional administrative expenses having arisen from a one-off group restructure in the year.

5 | Tangible assets

| Land and buildings £ | Furniture, fittings and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 October 2024 | 4,244,183 | 42,747 | 181,308 | 4,468,238
Fair value adjustment | 226,790 | - | - | 226,790
Transfers to investment property | (4,470,973) | - | - | (4,470,973)
At 30 September 2025 | - | 42,747 | 181,308 | 224,055
Depreciation
At 1 October 2024 | 191,446 | 42,747 | 67,965 | 302,158
Charge for the year | 53,393 | - | 45,328 | 98,721
Fair value adjustment | (244,839) | - | - | (244,839)
At 30 September 2025 | - | 42,747 | 113,293 | 156,040
Carrying amount
At 30 September 2025 | - | - | 68,015 | 68,015
At 30 September 2024 | 4,052,737 | - | 113,343 | 4,166,080

Included within the net book value of land and buildings above is £Nil (2024 - £3,285,177) in respect of freehold land and buildings and £Nil (2024 - £767,560) in respect of long leasehold land and buildings.

6 | Investment properties

| 2025 £
At 1 October | 2,715,000
Transfers from tangible fixed assets | 4,470,973
At 30 September | 7,185,973

Investment properties are valued based on a valuation by M J Pudney, a director who is not a professionally qualified valuer as at 30 September 2025. The basis of this valuation was a fair value basis in the context of the location and class of investment properties being revalued.

Princebuild Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

7 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | - | 4,532,187

Subsidiaries | £
Cost or valuation
At 1 October 2024 | 4,532,187
Disposals | (4,532,187)
At 30 September 2025 | -
Carrying amount
At 30 September 2025 | -
At 30 September 2024 | 4,532,187

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Subsidiary undertakings
Princebuild Limited | Empson Road, Peterborough, Cambridgeshire, PE1 5UP | Ordinary shares | 0% | 100%
Princebuild UK Limited | Empson Road, Peterborough, Cambridgeshire, PE1 5UP | Ordinary shares | 0% | 100%

Subsidiary undertakings
Princebuild Limited The principal activity of Princebuild Limited is property maintenance.
Princebuild UK Limited The principal activity of Princebuild UK Limited is property maintenance.

Princebuild Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

8 | Debtors

| Note | 2025 £ | 2024 £
Trade debtors |  | 17,008 | 20,805
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 14 | 4,859,567 | 4,270,000
Other debtors |  | 2,242,453 | 47,356
|  | 7,119,028 | 4,338,161

9 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Loans and borrowings | 12 | 302,768 | 413,333
Trade creditors |  | 37,331 | 9,419
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 14 | - | 1,859,599
Taxation and social security |  | 218,162 | 213,470
Accruals and deferred income |  | - | 5,687
|  | 558,261 | 2,501,508

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Loans and borrowings | 12 | 333,318 | 383,305

10 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary A of £1 each | 500 | 500 | 500 | 500
Ordinary P of £1 each | 500 | 500 | 500 | 500
| 1,000 | 1,000 | 1,000 | 1,000

11 | Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

| Revaluation reserve £ | Total £
Surplus / (deficit) on property, plant and equipment revaluation | 286,823 | 286,823

Princebuild Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

12 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 333,318 | 383,305

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 49,270 | 44,882
Hire purchase contracts | - | 57,362
Other borrowings | 253,498 | 311,089
| 302,768 | 413,333

Bank borrowings of £382,588 (2024 - £428,187) are secured by fixed and floating charges over the company's land and buildings.
Hire purchase contracts of £nil (2024 - £57,362) are secured against the assets to which the contracts relate.
Other borrowings relates to amounts payable to the directors. Amounts payable to directors are interest-free and repayable on demand.

13 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The company is party to a cross guarantee and debenture with Princebuild Group Limited, Princebuild Limited and Princebuild UK Limited dated May 2021.

14 | Related party transactions

The company has taken advantage of the exemption in section 33 of FRS 102 'Related Party Disclosures' from disclosing transactions with other members of the group in which any subsidiary which is a party to the transaction is wholly owned by the group.

15 | Parent and ultimate parent undertaking

The company's immediate parent is Princebuild Group Limited, incorporated in England and Wales.
The ultimate parent is PB Group Investment Limited, incorporated in England and Wales.