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Company No: 14381040 (England and Wales)

# FRANK CAPITAL DEVELOPMENTS LTD

### Unaudited Financial Statements
For the financial year ended 30 September 2025
Pages for filing with the registrar

FRANK CAPITAL DEVELOPMENTS LTD

## Unaudited Financial Statements

For the financial year ended 30 September 2025

Contents

FRANK CAPITAL DEVELOPMENTS LTD

## STATEMENT OF FINANCIAL POSITION

As at 30 September 2025
FRANK CAPITAL DEVELOPMENTS LTD

## STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Investments | 3 | 11,804,141 |  | 100
|  | 11,804,141 |  | 100
Current assets |  |  |  |
Debtors |  |  |  |
- due within one year | 4 | 9,737,991 |  | 5,678,164
- due after more than one year | 4 | 1,000,000 |  | 1,000,000
Cash at bank and in hand |  | 595 |  | 16,063,633
|  | 10,738,586 |  | 22,741,797
Creditors: amounts falling due within one year | 5 | ( 190,483) |  | ( 228,123)
Net current assets |  | 10,548,103 |  | 22,513,674
Total assets less current liabilities |  | 22,352,244 |  | 22,513,774
Net assets |  | 22,352,244 |  | 22,513,774
Capital and reserves |  |  |  |
Called-up share capital | 6 | 208 |  | 208
Share premium account |  | 20,999,892 |  | 20,999,892
Profit and loss account |  | 1,352,144 |  | 1,513,674
Total shareholder's funds |  | 22,352,244 |  | 22,513,774

For the financial year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Income Statement has not been delivered.

The financial statements of Frank Capital Developments Ltd (registered number: 14381040) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

S M Leighton Director |

26 June 2026

FRANK CAPITAL DEVELOPMENTS LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2025
FRANK CAPITAL DEVELOPMENTS LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Frank Capital Developments Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 7 Pollen Street, London, W1S 1NJ, United Kingdom.
The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

##### Turnover

Revenue represents interest receivable on loans and is measured at the fair value of the consideration received or receivable net of value added tax .
Revenue represents fees receivable and recharged costs in relation to construction projects, excludes value added tax and arises solely in the United Kingdom.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

##### Fixed asset investments

Investments are are initially measured at cost which is normally the transaction price excluding transaction costs and subsequently measured at cost less any accumulated impairment losses. The investment is assessed for impairment at each reporting date and any impairment loss or reversal of impairment loss is recognised immediately in the income statement.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

##### Cash and cash equivalents

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 creditors: amounts falling due within one year.

##### Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

##### Ordinary share capital

The ordinary share capital of the company is presented as equity.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the company during the year, including directors | 0 |  | 0

#### 3. Fixed asset investments

Investments in subsidiaries

| 2025
| £
Cost |
At 01 October 2024 | 100
At 30 September 2025 | 100
Carrying value at 30 September 2025 | 100
Carrying value at 30 September 2024 | 100

| Loans |  | Total
| £ |  | £
Cost or valuation before impairment |  |  |
At 01 October 2024 | 0 |  | 0
Additions | 11,000,000 |  | 11,000,000
Change in value of loans receivable | 804,041 |  | 804,041
At 30 September 2025 | 11,804,041 |  | 11,804,041
Carrying value at 30 September 2025 | 11,804,041 |  | 11,804,041
Carrying value at 30 September 2024 | 0 |  | 0

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Debtors: amounts falling due within one year |  |  |
Amounts owed by own subsidiaries | 5,371,342 |  | 5,092,606
Amounts owed by connected companies | 4,278,424 |  | 16,000
Other debtors | 88,225 |  | 569,558
| 9,737,991 |  | 5,678,164
Debtors: amounts falling due after more than one year |  |  |
Other debtors | 1,000,000 |  | 1,000,000

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 0 |  | 12,000
Taxation and social security | 176,676 |  | 210,000
Other creditors | 13,807 |  | 6,123
| 190,483 |  | 228,123

#### 6. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
208 Ordinary shares of £ 1.00 each | 208 |  | 208

#### 7. Related party transactions

Other related party transactions

The company has taken advantage of the exemption available in accordance with section 33.1A of financial reporting standard 102 whereby it has not disclosed transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.