REGISTERED NUMBER: 06936020 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

CALNIC INVESTMENTS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Branton-Speak

N Branton-Speak

REGISTERED OFFICE:

10 Heathview Gardens

Putney

London

SW15 3SZ

REGISTERED NUMBER:

06936020 (England and Wales)

ACCOUNTANTS:

RJP LLP

Ground Floor

Egerton House

68 Baker Street

Weybridge

Surrey

KT13 8AL

FIXED ASSETS

Tangible assets

4

35,563

50,844

Investments

5

-

2,070,588

Investment property

6

2,236,835

3,292,335

2,272,398

5,413,767

CURRENT ASSETS

Debtors

7

302,247

98,000

Investments

8

85,249

406,623

Cash at bank

1,831,840

2,787

2,219,336

507,410

CREDITORS

Amounts falling due within one year

9

4,339,983

5,154,185

NET CURRENT LIABILITIES

(2,120,647

)

(4,646,775

)

TOTAL ASSETS LESS CURRENT LIABILITIES

151,751

766,992

CREDITORS

Amounts falling due after more than one year

10

(30,250

)

(40,908

)

PROVISIONS FOR LIABILITIES

(11,152

)

(19,674

)

NET ASSETS

110,349

706,410

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

11

(16,538

)

(893,542

)

Retained earnings

11

126,885

1,599,950

110,349

706,410

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.

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 3 July 2026 and were signed on its behalf by:

S Branton-Speak - Director

1.	STATUTORY INFORMATION

Calnic Investments 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.

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.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. Included in these judgements and estimates are:

Investment properties: The company carries its investment property at fair value, with changes in fair value being recognised in profit or loss. The directors have determined the fair value at 31 December 2025. There is an inevitable degree of judgement involved in that each property is unique and value can only be ultimately be reliably tested in the market itself. The directors aim to determine the open market valuation of every property. In order to do so the directors use appropriate market evidence based upon recent sales of comparable properties using available data at the year-end. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Turnover

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

Rental income is recognised as turnover in the period to which the income relates.

Ticket sales are recognised as turnover in the period that the event to which the ticket relates, takes place.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33.33% on cost and 25% on cost

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.

Investment properties consist of land and buildings which are not occupied by or in the operations of the company or for sale in the ordinary course of business but are held to earn rental income together with the potential capital and income growth.

Investment properties are initially recognised at cost, being the fair value of consideration given, including transaction costs associated with the investment property. Any subsequent capital expenditure incurred in improving investment properties is capitalised in the period incurred and included within the book costs of the property.

After initial recognition, investment properties are measured at fair value with gains and losses recognised in profit or loss. Deferred tax is provided on the gains or losses during the year as necessary.

Investments - Wimbledon debentures

The investments in Centre Court debentures are initially recognised at cost. The investment is amortised over the life of the asset of 5 years on a straight line basis.

Investments - unlisted shares

The investments in unlisted shares are initially recognised at cost and subsequently stated at cost less any accumulated impairment losses.

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.

Leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 2 ).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

90,783

Additions

5,514

At 31 December 2025

96,297

DEPRECIATION

At 1 January 2025

39,939

Charge for year

20,795

At 31 December 2025

60,734

NET BOOK VALUE

At 31 December 2025

35,563

At 31 December 2024

50,844

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2025

and 31 December 2025

57,120

DEPRECIATION

At 1 January 2025

7,959

Charge for year

19,038

At 31 December 2025

26,997

NET BOOK VALUE

At 31 December 2025

30,123

At 31 December 2024

49,161

5.	FIXED ASSET INVESTMENTS

31.12.25

31.12.24

£

£

Other investments not loans

-

2,070,588

Additional information is as follows:

Other

investments

£

COST

At 1 January 2025

2,016,988

Additions

251,487

Disposals

(2,268,475

)

At 31 December 2025

-

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

2,016,988

Investments (neither listed nor unlisted) were as follows:

31.12.25

31.12.24

£

£

Wimbledon debentures - Cost

269,350

269,350

Wimbledon debentures - Amortisation

(269,350

)

(215,750

)

-

53,600

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

3,292,335

Disposals

(1,444,000

)

Revaluations

388,500

At 31 December 2025

2,236,835

NET BOOK VALUE

At 31 December 2025

2,236,835

At 31 December 2024

3,292,335

Fair value at 31 December 2025 is represented by:

£

Valuation in 2025

9,044

Cost

2,227,791

2,236,835

The company's investment properties have been internally valued by a director. Details of the estimates and assumptions made and key sources of estimation uncertainty are provided in the accounting policies.

7.

DEBTORS

31.12.25

31.12.24

£

£

Amounts falling due within one year:

Other debtors

255,672

98,000

Amounts falling due after more than one year:

Other debtors

46,575

-

Aggregate amounts

302,247

98,000

8.	CURRENT ASSET INVESTMENTS

31.12.25

31.12.24

£

£

Interactive Brokers account

85,249

406,623

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Finance leases

10,659

10,659

Taxation and social security

37,881

50,036

Other creditors

4,291,443

5,093,490

4,339,983

5,154,185

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Finance leases

30,250

40,908

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 January 2025

1,599,950

(893,542

)

706,408

Deficit for the year

(1,134,200

)

(1,134,200

)

Fair value reserve transfer

(338,865

)

877,004

538,139

At 31 December 2025

126,885

(16,538

)

110,347

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2025 and 31 December 2024:

31.12.25

31.12.24

£

£

Director

Balance outstanding at start of year

(3,087,673

)

(3,545,811

)

Amounts advanced

2,965,794

2,720,107

Amounts repaid

(161,617

)

(2,261,969

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(283,496

)

(3,087,673

)

Interest is paid on the loan at the discretion of the directors.

13.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £4,000,000 (2024 - £2,000,000) to shareholders who are not directors.

During the year interest of £76,800 (2024 - £64,000) was paid to the shareholders.