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REGISTERED NUMBER: 12051562 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

V7 CAP1 (BRISTOL) LTD

V7 CAP1 (BRISTOL) LTD (REGISTERED NUMBER: 12051562)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

V7 CAP1 (BRISTOL) LTD

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTORS: | Mr Z P Veasey

| Mr C J Hunt

| Mr M T Leach

| Mr W J Killick

| REGISTERED OFFICE: | 55 Loudoun Road

| St John's Wood

| London

| NW8 0DL

| REGISTERED NUMBER: | 12051562 (England and Wales)

| ACCOUNTANTS: | mgr SD Limited

| Chartered Accountants

| 55 Loudoun Road

| St John's Wood

| London

| NW8 0DL

V7 CAP1 (BRISTOL) LTD (REGISTERED NUMBER: 12051562)

BALANCE SHEET

31 DECEMBER 2025

| 31.12.25 |  | 31.12.24

| Notes | £ | £ |

FIXED ASSETS

Investment property | 4 | 2,310,000 |  | 2,310,000 |  |

CURRENT ASSETS

Debtors | 5 | 108,048 |  | 99,229 |  |

Cash at bank | 102,054 |  | 184,271 |  |

210,102 |  | 283,500 |  |

CREDITORS

Amounts falling due within one year | 6 | (963,060 | ) | (1,007,010 | ) |

NET CURRENT LIABILITIES | (752,958 | ) | (723,510 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,557,042 |  | 1,586,490 |  |

CREDITORS

Amounts falling due after more than one year | 7 | (1,327,202 | ) | (1,357,202 | ) |

PROVISIONS FOR LIABILITIES | 10 | (57,435 | ) | (57,247 | ) |

NET ASSETS | 172,405 |  | 172,041 |  |

CAPITAL AND RESERVES

Called up share capital | 11 | 100 |  | 100 |  |

Fair value reserve | 282,043 |  | 281,483 |  |

Retained earnings | (109,738 | ) | (109,542 | ) |

SHAREHOLDERS' FUNDS | 172,405 |  | 172,041 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 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.

V7 CAP1 (BRISTOL) LTD (REGISTERED NUMBER: 12051562)

BALANCE SHEET - continued

31 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 by the Board of Directors and authorised for issue on 29 May 2026 and were signed on its behalf by:

Mr Z P Veasey - Director

V7 CAP1 (BRISTOL) LTD (REGISTERED NUMBER: 12051562)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| V7 Cap1 (Bristol) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| The directors report net current liabilities of £752,957 (2024: £723,510) but they believe the company will be able to trade profitably for the foreseeable future and the group will continue to support the company.

| Due to the above the directors believe that it is appropriate for the financial statements to be prepared on a going concern basis.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| 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 balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

V7 CAP1 (BRISTOL) LTD (REGISTERED NUMBER: 12051562)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 4 (2024 - 4 ) .

4. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 January 2025

| and 31 December 2025 | 2,310,000 |  |

| NET BOOK VALUE

| At 31 December 2025 | 2,310,000 |  |

| At 31 December 2024 | 2,310,000 |  |

| Fair value at 31 December 2025 is represented by:

£ |

| Valuation in 2024 | 339,478 |  |

| Cost | 1,970,522 |  |

2,310,000 |  |

| Investment property was valued on an open market basis by the directors.

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

| 31.12.25 |  | 31.12.24

£ | £ |

| Trade debtors | 74,112 |  | 59,460 |  |

| Other debtors | 33,936 |  | 39,769 |  |

108,048 |  | 99,229 |  |

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

| 31.12.25 |  | 31.12.24

£ | £ |

| Bank loans and overdrafts (see note 8) | 30,000 |  | 30,000 |  |

| Trade creditors | 22,023 |  | 15,651 |  |

| Amounts owed to group undertakings | 448,853 |  | 549,900 |  |

| Amounts owed to related parties | 761 |  | 414 |  |

| Taxation and social security | 4,871 |  | 12,215 |  |

| Other creditors | 456,552 |  | 398,830 |  |

963,060 |  | 1,007,010 |  |

V7 CAP1 (BRISTOL) LTD (REGISTERED NUMBER: 12051562)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.12.25 |  | 31.12.24

£ | £ |

| Bank loans (see note 8) | 727,202 |  | 757,202 |  |

| Amounts owed to group undertakings | 540,000 |  | 540,000 |  |

| Amounts owed to related parties | 60,000 |  | 60,000 |  |

1,327,202 |  | 1,357,202 |  |

8. | LOANS

| An analysis of the maturity of loans is given below:

| 31.12.25 |  | 31.12.24

£ | £ |

| Amounts falling due within one year or on demand:

| Bank loans | 30,000 |  | 30,000 |  |

| Amounts falling due between one and two years:

| Bank loans - 1-2 years | 30,000 |  | 30,000 |  |

| Amounts falling due between two and five years:

| Bank loans - 2-5 years | 697,202 |  | 727,202 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.12.25 |  | 31.12.24

£ | £ |

| Bank loans | 757,202 |  | 787,202 |  |

| Bank indebtedness is secured by a legal mortgage over the company's investment property.

10. | PROVISIONS FOR LIABILITIES

| 31.12.25 |  | 31.12.24

£ | £ |

| Deferred tax | 57,435 |  | 57,247 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 57,247 |  |

| Provided during year | 188 |  |

| Balance at 31 December 2025 | 57,435 |  |

V7 CAP1 (BRISTOL) LTD (REGISTERED NUMBER: 12051562)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

11. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.12.25 |  | 31.12.24

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

12. | RELATED PARTY DISCLOSURES

| V7 Cap1 LLP

| The parent entity.

| At the balance sheet date the company owed V7 Cap1 LLP £448,853 (2024: £549,900). Interest has not been charged on this loan.

| 31.12.25 |  | 31.12.24

£ | £ |

| Amount due to related party at the balance sheet date | 448,853 |  | 549,900 |  |

| KH V Lending 302 Limited

| A company with a common director.

| At the balance sheet date the company owed KH V Lending 302 Limited £540,000 (2024: £540,000). During the year KH V Lending 302 Limited charged the company interest of £54,000 (2024: £54,148).

| 31.12.25 |  | 31.12.24

£ | £ |

| Amount due to related party at the balance sheet date | 540,000 |  | 540,000 |  |

| V7 Investments Limited

| A company which holds a minority interest.

| At the balance sheet date the company owed V7 Investments Limited £60,000 (2024: £60,000). During the year V7 Investments Limited charged the company interest of £6,000 (2024: £6,016).

| 31.12.25 |  | 31.12.24

£ | £ |

| Amount due to related party at the balance sheet date | 60,000 |  | 60,000 |  |

V7 CAP1 (BRISTOL) LTD (REGISTERED NUMBER: 12051562)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

12. | RELATED PARTY DISCLOSURES - continued

| V7 AM Ltd

| A company with common directors.

| At the balance sheet date the company owed V7 AM Ltd £761 (2024: £414). Transactions during the year under review were limited to the repayment of funds.

| 31.12.25 |  | 31.12.24

£ | £ |

| Amount due to related party at the balance sheet date | 761 |  | 414 |  |

13. | ULTIMATE CONTROLLING PARTY

| The controlling party is V7 Cap1 LLP.

| The ultimate controlling party is KH V Properties 106 Limited.

| A company incorporated in Jersey.