ACCOUNTS - Final Accounts

Analysis of the maturity of loans is given below:

Company registration number: 00235784

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 OCTOBER 2025

	WELBECK C P


WELBECK C P

COMPANY INFORMATION

Directors	E M I Flach
	K T Flach


Company secretary	E M I Flach


Registered number	00235784


Registered office	4th Floor
	95 Gresham Street
	London
	EC2V 7AB


Accountants	Menzies LLP
	Chartered Accountants
	95 Gresham Street
	London
	EC2V 7AB


WELBECK C P

CONTENTS

	Page
Balance sheet	1 - 2
Notes to the financial statements	3 - 9


WELBECK C P REGISTERED NUMBER:00235784

BALANCE SHEET

AS AT 31 OCTOBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		3,453		1,802
Investments	5		4		591,503
Investment property	6		-		4,390,000
			3,457		4,983,305
Current assets
Debtors: amounts falling due within one year	7	14,228,868		13,596,208
Cash at bank and in hand		309,781		45,777
		14,538,649		13,641,985
Creditors: amounts falling due within one year	8	(7,291,393)		(7,117,102)
Net current assets			7,247,256		6,524,883
Total assets less current liabilities			7,250,713		11,508,188
Creditors: amounts falling due after more than one year	9		(2,850,000)		(6,500,000)

Net assets			4,400,713		5,008,188

Capital and reserves
Called up share capital	12	5,000,000	5,000,000
Profit and loss account		(599,287)	8,188
		4,400,713	5,008,188

Page 1


WELBECK C P REGISTERED NUMBER:00235784

BALANCE SHEET (CONTINUED)

AS AT 31 OCTOBER 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 comprehensive income 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 on 19 June 2026.

E M I Flach

Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2


WELBECK C P

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

1.	General information

Welbeck C P (‘the Company’) is a property ownership and management company. The company is a private unlimited company and is incorporated in England & Wales.

The address of the registered office is referenced on the company information page.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue comprises rental income receivable during the year, net of value added tax and trade discounts. Rental income from the properties is recorded in the profit and loss account as it falls due. Rent increases arising from rent reviews during the year are taken into account as they fall due, in line with those agreed with the tenants. All turnover arose within the United Kingdom.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3


WELBECK C P

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

2.Accounting policies (continued)

2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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.

2.8

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:

Computer equipment

over 3 years

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 profit or loss.

2.9

Investment property

Investment property is carried at fair value determined annually by a combination Director valuations and external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4


WELBECK C P

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

2.Accounting policies (continued)

2.11

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 to profit or loss.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

4.	Tangible fixed assets

		Computer equipment
		£
	Cost
	At 1 November 2024	5,371
	Additions	3,319
	At 31 October 2025	8,690
	Depreciation
	At 1 November 2024	3,569
	Charge for the year on owned assets	1,668
	At 31 October 2025	5,237
	Net book value
	At 31 October 2025	3,453
	At 31 October 2024	1,802

Page 5


WELBECK C P

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

5.	Fixed asset investments

	Investments in subsidiary companies	Unlisted investments	Total
	£	£	£
Cost or valuation
At 1 November 2024	3	591,500	591,503
Additions	1	-	1
Disposals	-	(591,500)	(591,500)
At 31 October 2025	4	-	4

Net book value
At 31 October 2025	4	-	4
At 31 October 2024	3	591,500	591,503

6.	Investment property

		Freehold investment property
		£

	At 1 November 2024	4,390,000
	Disposals	(4,390,000)
	At 31 October 2025	-

The company held no investment properties at the balance sheet date.

Page 6


WELBECK C P

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Debtors

					2025	2024
					£	£


Trade debtors	-	10,555
Amounts owed by group companies	14,189,826	13,118,250
Other debtors	23,347	127,059
Prepayments and accrued income	15,695	80,452
Deferred taxation	-	259,892
	14,228,868	13,596,208

8.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	2,638	48,825
Amounts owed to group undertakings	3,653,227	4,300,527
Other taxation and social security	2,712	8,609
Other creditors	3,622,951	2,560,249
Accruals and deferred income	9,865	198,892
	7,291,393	7,117,102

9.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	2,850,000	6,500,000
	2,850,000	6,500,000

Page 7


WELBECK C P

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025


Amounts falling due 1-2 years
Bank loans	2,850,000	6,500,000
	2,850,000	6,500,000


	2,850,000	6,500,000

11.	Deferred taxation

	2025	2024
	£	£

At beginning of year	259,892	267,281
Charged to profit or loss	(259,892)	-
Utilised in year	-	(7,389)
At end of year	-	259,892

The deferred tax asset is made up as follows:
	2025	2024
	£	£

	Tax losses carried forward	-	259,892
		-	259,892

Page 8


WELBECK C P

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

12.	Share capital
		2025	2024
		£	£

Authorised

6,000,000 (2024 - 6,000,000) Ordinary shares of £1.00 each	6,000,000	6,000,000

Allotted, called up and fully paid

5,000,000 (2024 - 5,000,000) Ordinary shares of £1.00 each	5,000,000	5,000,000

Not later than 1 year	43,800	32,972
Later than 1 year and not later than 5 years	22,022	-
	65,822	32,972

14.Directors' personal guarantees

A director has provided a guarantee of £6,500,000, plus interest and costs, in respect of borrowings by the Company.

15.

Related party transactions

The immediate parent undertaking is Welbeck CP Holding Limited, incorporated and registered in England and Wales. At the balance sheet date £3,653,227 (2024 - £4,300,527) was owed to the parent undertaking.

At the year end, the company owed £3,615,873 (2024: £2,550,000) to E M I Flach, a director of the company. The balance represents amounts advanced by the director to the company. The loan is unsecured, interest free, and repayable on demand.

Page 9