Company registration number 14361355 (England and Wales)
LIVERPOOL I LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
LIVERPOOL I LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
LIVERPOOL I LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
4
8,250,000
7,200,000
Current assets
Debtors
5
202,851
147,611
Cash at bank and in hand
157,872
91,711
360,723
239,322
Creditors: amounts falling due within one year
6
(282,019)
(22,485)
Net current assets
78,704
216,837
Total assets less current liabilities
8,328,704
7,416,837
Provisions for liabilities
(262,130)
-
Net assets
8,066,574
7,416,837
Capital and reserves
Called up share capital
8
5
5
Share premium account
7,306,008
7,306,008
Other reserves
839,122
181,131
Profit and loss reserves
(78,561)
(70,307)
Total equity
8,066,574
7,416,837

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 income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 13 July 2026 and are signed on its behalf by:
Mr Edward Ellerington
Mr Justin Hildebrandt
Director
Director
Company registration number 14361355 (England and Wales)
LIVERPOOL I LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
1
Accounting policies
Company information

Liverpool I Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 7th Floor Swan House, 17 - 19 Stratford Place, London, W1C 1BQ.

1.1
Basis of preparation

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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The company is currently in the true permitting phase of a property development project and has incurred significant project costs to date, which are within the approved budget for this phase. The directors note that sufficient further funding remains available from the company’s parent to complete this phase of the project.

Based on this, and after reviewing cash flow forecasts and funding arrangements, the directors are satisfied that the company will have sufficient resources to meet its liabilities as they fall due for a period of at least twelve months from the date of approval of the financial statements. Accordingly, the financial statements have been prepared on a going concern basis.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss, and thereafter transferred to a non-distributable fair value reserve.

1.4
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 current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position 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.

LIVERPOOL I LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

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 assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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

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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable 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.

1.6
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

LIVERPOOL I LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -
2
Judgements and key sources of estimation uncertainty

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.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Investment property

Investment property is valued annually at fair value. Fair value is ascertained through review of a number of factors and information flows, including market knowledge, recent market movements, recent sales of similar properties, historical experience, rent levels and flows of cash for the respective investment property. There is an inevitable degree of judgement involved and the can only be reliably tested ultimately in the market itself.

The residual method of valuation, is very sensitive to changes in key inputs. Small changes in variables such as sales volumes or build costs will have a material effect on the land value.

3
Employees

The average monthly number of persons employed by the company during the year was:

2025
2024
Number
Number
Total
0
0
4
Investment property
2025
£
Fair value
At 1 January 2025
7,200,000
Additions
112,302
Revaluations
937,698
At 31 December 2025
8,250,000

Investment property comprises vacant real-estate property at 122 Old Hall Street, Liverpool. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 December 202 5 by CBRE Limited Chartered Surveyors, who are not connected with the company. The valuation adopted a residual approach which involved assessing the Gross Development Value and then deducting all associated costs to arrive at an appropriate value for the land.

LIVERPOOL I LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by related parties
199,655
144,937
Other debtors
3,196
2,674
202,851
147,611
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
77,019
22,485
Amounts owed to related parties
205,000
-
0
282,019
22,485
7
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Tax losses
(17,577)
-
Revaluations
279,707
-
262,130
-
2025
Movements in the year:
£
Liability at 1 January 2025
-
Credit to profit or loss
(17,577)
Charge to equity
279,707
Liability at 31 December 2025
262,130

The deferred tax liability relates to the revaluation of investment property to fair value. The liability is expected to reverse on the future disposal of the property.

LIVERPOOL I LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
5
5
5
5
9
Reserves

Share premium includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.

Profit and loss reserves include all current period retained losses, all of which are distributable reserves.

Non-distributable reserve represents fair value adjustments net of deferred tax relating to investment properties.

10
Audit report information

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:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year 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.

Senior Statutory Auditor:
Nicolae Vleju FCCA
Statutory Auditor:
Xeinadin Audit Limited
Date of audit report:
14 July 2026
11
Related party transactions

At 31 December 202 5, the company had the following balances receivable and payable:

Amounts d ue from relat ed parties £ 199,655 (202 4: £1 44,937)

Amounts d ue to related parties £ 205,000 (202 4: £Nil)

These amounts are interest free and repayable on demand.

12
Parent company

GLP Residential Holding LP is the immediate parent of Liverpool I Ltd. Liverpool I Ltd does not have an ultimate controlling party.

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