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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

BC Hollis Croft Devco Limited is a private company limited by shares incorporated in England and Wales. The registered office is 167/169 Great Portland Street, 5th Floor, London, Greater London, England, W1W 5PF.

The financial statements have been prepared for a reporting period ending on 30th December 2024. This shortened accounting period arises due to issues encountered in the filing of accounts for prior financial years. As a result, the reporting period has been adjusted to facilitate the timely preparation and submission of the Company’s financial statements and to align future accounting periods.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements have been prepared on a going concern basis. In making this assessment, the directors have considered the company’s current financial position, cash flow forecasts, and available sources of funding.true

The company is part of a wider group and continues to have access to financial support from its ultimate parent undertaking. The directors have received confirmation that the ultimate parent will make available such funds as are necessary for the company to meet its liabilities as they fall due for a period of at least twelve months from the date of approval of these financial statements.

On the basis of this continued financial support and the group’s overall financial strength, the directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets. A provision is made for any impairment loss and taken to the profit and loss account.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company only enters into Basic financial instrument transactions.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in the tax assessments.

Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

The company's liability for current and deferred tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The average monthly number of persons (including directors) employed by the company during the period was:

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 30 December 2024 and of its profit for the period 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.

Other matters

We would like to draw your attention to note 11, the financial statements do not include any trade tax balances as it has not been possible to calculate those balances at the time of reporting.

Deferred tax balances with respect to assets under construction have been accounted for.

The Company has cross-guaranteed group borrowings, meeting the definition of a contingent liability as set out in FRS 102, totaling £25.796m (2023: £25.796m).

After the reporting date the group as a whole has undergone several restructures which has resulted in a number of companies going into administration or liquidation. At the time of signing the accounts it was not possible to confirm the trading tax balances for this entity. It is believed by directors that there will be no liability or losses arising on these results for the year.

Deferred tax balances with respect to assets under construction have been accounted for.

As permitted by FRS 102, the company has taken advantage of the exemption from disclosing the transactions entered into between wholly owned group companies and those group company transactions that have been performed on an arm’s length basis.

The immediate parent company of BC Hollis Croft Devco Limited is Uniquarters II Limited.

The ultimate parent company is RS Fund IV GP Ltd. The registered office of the ultimate parent is Airport Center 6B, rue Heienhaff, L 1736 Senningerberg.

Charges

There exists charges over the company's assets in favour of Cbre Loan Services Limited as follows:

- Fixed and floating charge with negative pledge over land and buildings on the north-west side of broad lane sheffield, land and buildings on the south side of hollis croft, 16 broad lane Sheffield, 2 broad lane sheffield and 11 hollis croft, sheffield as per security agreement dated 2nd October 2023.

There exists charges over the company's assets in favour of Rs Lender Iv, S.a R.L. as Security Agent for the Finance Parties as follows:

- Fixed and floating charge with negative pledge relating to "the Sheffield Property" as per supplementary debenture dated 27th June 2022.

- Fixed and floating charge with negative pledge relating to "The Nottingham Property" as per security agreement dated 22nd April 2022.

The adjusting entry has no effect on the statement of profit and loss, it is simply a reclassification between impairments and cost brought forward of assets under construction.