Leaf Living Opco Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 13272467

Leaf Living Opco Limited

Filleted Financial Statements

31 December 2025

Leaf Living Opco Limited

Statement of Financial Position

31 December 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	5	88,040	245,263
Tangible assets	6	85,829	88,869
		---------	---------
		173,869	334,132

Current assets

Debtors	7	5,499,368	7,456,048
Cash at bank and in hand		3,075,042	3,984,361
		------------	-------------
		8,574,410	11,440,409

Creditors: amounts falling due within one year	8	( 4,160,639)	( 7,627,973)
		------------	-------------
Net current assets		4,413,771	3,812,436
		------------	------------
Total assets less current liabilities		4,587,640	4,146,568
		------------	------------
Net assets		4,587,640	4,146,568
		------------	------------

Capital and reserves

Called up share capital	33,780	33,780
Share premium account	3,344,202	3,344,202
Profit and loss account	1,209,658	768,586
	------------	------------
Shareholders funds	4,587,640	4,146,568
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

These financial statements were approved by the board of directors and authorised for issue on 14 July 2026 , and are signed on behalf of the board by:

S B Underwood

Director

Company registration number: 13272467

Leaf Living Opco Limited

Notes to the Financial Statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office and principal place of business is C/O Revantage Real Estate Limited, 13th Floor, Nova South, 160 Victoria Street, London, United Kingdom, SW1E 5LB.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, and in accordance with applicable accounting standards. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

After consideration of the Company's position at the reporting date, business review and the risks and uncertainties; including the wider industry and economic environment, and having considered the wider Group's forecasts, the directors have a reasonable expectation that the Company will have adequate resources for the foreseeable future, being at least the twelve months from the date of approval of the financial statements. Accordingly, the going concern basis continues to be used in preparing these financial statements.

Judgements and key sources of estimation uncertainty

Critical accounting estimates and assumptions In preparing these financial statements, the directors have made estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. Intercompany loans The directors make an assessment over the recoverability of amounts owed by group undertakings based on their knowledge of the trading performance of those entities and make provision for any amount which is considered irrecoverable. The loans are repayable on demand, interest free and unsecured.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts recharged with group related entities for costs incurred in accordance with the intercompany service agreement, stated net of discounts and of Value Added Tax. Revenue is recognised once the cost has been incurred.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

System implementation	-	20% straight line
Website development	-	33% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Office equipment	-	50% straight line
Computer equipment	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Financial assets Financial assets are recognised when the Company becomes a party to the contractual provisions of the financial instrument. The Company does not hold any third-party financial assets. Loans and receivables Trade receivables and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are initially recognised at fair value and are subsequently measured using the effective interest method less provision for any impairment. Financial liabilities and equity instruments Financial liabilities and equity 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. Other financial liabilities (including borrowing and trade and other payables) are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 63 (2024: 39 ).

5. Intangible assets

	System Implementation	Website Development	Total
	£	£	£
Cost
At 1 January 2025	275,490	87,637	363,127
Additions	–	–	–
Disposals	( 41,153)	–	( 41,153)
Other movements	( 38,872)	( 17,280)	( 56,152)
	---------	--------	---------
At 31 December 2025	195,465	70,357	265,822
	---------	--------	---------
Amortisation
At 1 January 2025	78,777	39,087	117,864
Charge for the year	39,093	23,452	62,545
Other movements	( 2,627)	–	( 2,627)
	---------	--------	---------
At 31 December 2025	115,243	62,539	177,782
	---------	--------	---------
Carrying amount
At 31 December 2025	80,222	7,818	88,040
	---------	--------	---------
At 31 December 2024	196,713	48,550	245,263
	---------	--------	---------

6. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 January 2025	1,709	129,294	131,003
Additions	–	25,216	25,216
Disposals	( 322)	( 3,541)	( 3,863)
	-------	---------	---------
At 31 December 2025	1,387	150,969	152,356
	-------	---------	---------
Depreciation
At 1 January 2025	1,045	41,089	42,134
Charge for the year	249	23,011	23,260
Other movements	–	1,133	1,133
	-------	---------	---------
At 31 December 2025	1,294	65,233	66,527
	-------	---------	---------
Carrying amount
At 31 December 2025	93	85,736	85,829
	-------	---------	---------
At 31 December 2024	664	88,205	88,869
	-------	---------	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	1,857,284	6,160
Amounts owed by group and related undertakings	3,432,598	7,270,222
Other debtors	209,486	179,666
	------------	------------
	5,499,368	7,456,048
	------------	------------

Amounts owed by group and related undertakings are interest free, unsecured and repayable on demand .

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	993,728	1,944,427
Amounts owed to group and related undertakings	1,324,876	4,361,225
Social security and other taxes	259,147	132,999
Other creditors	1,582,888	1,189,322
	------------	------------
	4,160,639	7,627,973
	------------	------------

Amounts owed to group and related undertakings are interest free, unsecured and repayable on demand .

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	517,860	108,186
Later than 1 year and not later than 5 years	385,380	–
	---------	---------
	903,240	108,186
	---------	---------

10. Other financial commitments

As at the reporting date, the company had no capital or other commitments or contracts for capital expenditure in place (2024: £nil). Pension commitments The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £117,430 (2024: £119,567). Contributions totalling £25,361 (2024: £42,537) were payable to the fund at the reporting date.

11. Summary audit opinion

The auditor's report dated 14 July 2026 was unqualified .

The senior statutory auditor was Guy Richardson , for and on behalf of Moore Kingston Smith LLP .

12. Related party transactions

No transactions were undertaken with related parties as such that are required to be disclosed under FRS 102 Section 1A.

13. Controlling party

The Company's immediate parent undertaking is Leaf Living Holdco Limited , a company incorporated in Jersey. The ultimate controlling party is Blackstone Inc ., a company incorporated in the United States and listed on the New York Stock Exchange. Its principal place of business is located at 345 Park Avenue, New York, NY 10154. The highest level at which consolidated accounts are prepared is Blackstone Property Partners Europe Holdings S.à r.l ., a private limited company, incorporated in Luxembourg, having its registered office address at 2-4, Rue Eugene Ruppert L-2453 Luxembourg.