Company registration number 13647297 (England and Wales)
HMT CANNON PLACE LIMITED
Annual report and financial statements
For the year ended 31 December 2025
HMT CANNON PLACE LIMITED
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Statement of cash flows
3
Notes to the financial statements
4 - 10
HMT CANNON PLACE LIMITED
STATEMENT OF FINANCIAL POSITION
As at 31 December 2025
- 1 -
2025
2024
Notes
£
£
Non-current assets
Investment property
4
47,900,000
47,900,000
Current assets
Trade and other receivables
5
424,310
424,237
Cash and cash equivalents
84,242
761,500
508,552
1,185,737
Current liabilities
Trade and other payables
7
213,079
598,179
Current tax liabilities
76,377
77,189
Borrowings
6
30,950,000
-
0
Deferred revenue
8
361,099
362,504
31,600,555
1,037,872
Net current (liabilities)/assets
(31,092,003)
147,865
Non-current liabilities
Borrowings
6
-
0
31,700,000
Net assets
16,807,997
16,347,865
Equity
Called up share capital
9
101
101
Share premium account
10
23,299,999
23,299,999
Retained earnings
11
(6,492,103)
(6,952,235)
Total equity
16,807,997
16,347,865

The directors of the company have elected not to include a copy of the income statement within the financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 23 July 2026 and are signed on its behalf by:
Mr M Laukin
Mr B J Chambers
Director
Director
Company registration number 13647297
HMT CANNON PLACE LIMITED
STATEMENT OF CHANGES IN EQUITY
For the year ended 31 December 2025
- 2 -
Share capital
Share premium account
Retained earnings
Total
£
£
£
£
Balance at 1 January 2024
101
23,299,999
(5,313,985)
17,986,115
Year ended 31 December 2024:
Loss and total comprehensive income/(loss) for the year
-
-
(1,638,250)
(1,638,250)
Balance at 31 December 2024
101
23,299,999
(6,952,235)
16,347,865
Loss and total comprehensive income/(loss) for the year
-
-
460,132
460,132
Balance at 31 December 2025
101
23,299,999
(6,492,103)
16,807,997
HMT CANNON PLACE LIMITED
STATEMENT OF CASH FLOWS
For the year ended 31 December 2025
- 3 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
16
1,276,549
1,240,190
Interest paid
(1,049,618)
(684,658)
Income taxes paid
(154,189)
(146,091)
Net cash inflow from operating activities
72,742
409,441
Financing activities
Repayment of borrowings
(750,000)
(800,000)
Net cash used in financing activities
(750,000)
(800,000)
Net decrease in cash and cash equivalents
(677,258)
(390,559)
Cash and cash equivalents at beginning of year
761,500
1,152,059
Cash and cash equivalents at end of year
84,242
761,500
HMT CANNON PLACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2025
- 4 -
1
Accounting policies
Company information

HMT Cannon Place Limited is a private company limited by shares incorporated in England and Wales. The registered office is Connect House, 133-137 Alexandra Road, Wimbledon, London, SW19 7JY.

1.1
Basis of preparation

The financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted for use in the United Kingdom and with those parts of the Companies Act 2006 applicable to companies reporting under IFRS, except as otherwise stated.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors have at the time of approving the financial statements, a reasonable expectation that the true company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

HMT Cannon Place Limited will have access to sufficient financial resources beyond the maturity date of the shareholder loan on the 28 th October 2026, pursuant to Amcotec NV's irrevocable decision not to demand repayment of the existing shareholder loan. Instead, the loan will be extended for a minimum period of five years prior to its maturity date.

1.3
Revenue

Turnover comprises rental income receivable from Deka Immobilien. This turnover is recognised in the period to which the income is receivable. Rental income received in advance is deferred in the balance sheet to the following period.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

The investment property is depreciated over 289 years, which is the length of the long lease, on a straight line basis.

Investment property held at amortised cost is compared to an external valuation at the balance sheet date to determine if an impairment is required.

1.5
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less. A ll cash and cash equivalents are cash in the bank.

1.6
Financial assets

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets are classified into specified categories, depending on the nature and purpose of the financial assets.

Financial assets are initially measured at fair value, plus transaction costs. They are subsequently measured at amortised cost.

HMT CANNON PLACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
- 5 -
Financial assets held at amortised cost

Financial instruments are classified as financial assets measured at amortised cost where the objective is to hold these assets in order to collect contractual cash flows, and the contractual cash flows are solely payments of principal and interest. They arise principally from the provision of goods and services to customers (eg trade receivables). They are initially recognised at fair value plus transaction costs directly attributable to their acquisition or issue, and are subsequently carried at amortised cost using the effective interest rate method, less provision for impairment where necessary.

Impairment of financial assets

Financial assets carried at amortised cost are assessed for indicators of impairment at each reporting end date.

On initial recognition the company calculates the expected credit loss for debtors based on lifetime expected credit losses under the IFRS 9 simplified approach.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

1.7
Financial liabilities

The company recogni s es financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as either 'financial liabilities at fair value through profit or loss' or 'other financial liabilities'.

Other financial liabilities

Other financial liabilities, including borrowings, t rade payables and other short-term monetary liabilities, are initially measured at fair value net of transaction costs directly attributable to the issuance of the financial liability. They are subsequently measured at amortised cost using the effective interest method. For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

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

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.

HMT CANNON PLACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
- 6 -
1.10

Capital

The c ompany’s objective when managing capital is to safeguard its ability to continue as a going concern while generating returns from its investment property. The c ompany considers its capital to comprise equity and any associated group borrowings. Capital is monitored by management on a regular basis, with a focus on maintaining appropriate levels of liquidity to support its operations and meet its obligations not subject to any externally imposed capital requirements. The share premium account records the amount subscribed for share capital in excess of nominal value. The retained earnings reserve records all other net gains and losses and transactions with owners (e.g. dividends) not recognised elsewhere. As of the end of the financial year the company is meeting its capital objectives. The company is not subject to any externally imposed capital requirements.

1.11

New standards not yet effective

The requirements introduced under IFRS 18 are not expected to have a material impact on the company’s financial reporting. As the standard primarily affects presentation and disclosure within the income statement, rather than the recognition or measurement of assets, liabilities, income, or expenses, the underlying accounting policies and reported financial performance will remain unchanged. Accordingly, the company anticipates that the adoption of IFRS 18 will result in only limited presentational adjustments, with no significant effect on reported results, financial position, or key performance indicators.

2
Critical accounting estimates and judgements

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, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The company uses external professional valuers to determine the fair value that is considered as part of the impairment review. The valuation is based upon a number of assumptions including future rental income, anticipated maintenance costs, future development costs and an appropriate discount rate. The primary source of evidence for property valuations should be recent, comparable market transactions on an arms-length basis. The recoverable amount of the investment property has been determined based on fair value less costs of disposal. Total impairment loss of £7,759,369 was recognised to the year ended 31st December 2024. Following the valuation at the end of the current year £165,744 of this impairment was reversed.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
0
0
HMT CANNON PLACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2025
- 7 -
4
Investment property
2025
2024
£
£
Cost
At 1 January 2025 and 31 December 2025
56,278,250
56,278,250
Accumulated depreciation
At 1 January 2025
8,378,250
6,278,250
Charge for the year
165,744
194,734
Impairment losses
-
1,905,266
Reversals of impairment losses
(165,744)
-
At 31 December 2025
8,378,250
8,378,250
Carrying value
Opening balance
47,900,000
50,000,000
Closing balance
47,900,000
47,900,000

No depreciation has been charged over the value of the land.

The fair value of the investment property amounts to £47.9m. The fair value has been arrived at on the basis of a valuation carried out by CBRE Chartered Surveyors, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

The fair value of the property amounts to more then the carrying value of the investment property at the period end and therefore, impairment has been reversed up to the fair value of £47.9m. A impairment loss reversal has been recognised of £165,744 for the financial period.

5
Trade and other receivables
2025
2024
£
£
Trade receivables
421,567
421,566
Amount owed by parent undertaking
100
100
Prepayments
2,643
2,571
424,310
424,237
HMT CANNON PLACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2025
- 8 -
6
Borrowings
Current
Non-current
2025
2024
2025
2024
£
£
£
£
Borrowings held at amortised cost:
Loans from parent undertaking
30,950,000
-
-
31,700,000

The loan of £30.9m (2024: £31.7m) from parent undertaking bears a fixed interest per annum at a rate based on arm's length basis which has been determined by a transfer pricing study prepared by an external independent advisor. Per the Interest rate benchmarking report the transaction should bear an interest rate between 1.95% and 2.25% p.a. to comply with the arm's length principle. An average rate of 2.1% has been used by the entity based on the Interest rate benchmarking report. Total interest payable for the period is £661,140.

The loan is unsecured.

The loan is classified as current in 2025 due to the maturity date falling on 28 th October 2026. The intention is to extend the loan for a further 5 years.

7
Trade and other payables
2025
2024
£
£
Trade payables
385
-
0
Accruals
34,314
30,451
Value Added Tax
64,606
65,667
Accured interest on shareholder loans
113,774
502,061
213,079
598,179
8
Deferred revenue
2025
2024
£
£
Arising from rental income
361,099
362,504
All deferred revenues are expected to be settled within 12 months from the reporting date.
9
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
101
101
101
101
HMT CANNON PLACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2025
- 9 -
10
Share premium account
2025
2024
£
£
At the beginning and end of the year
23,299,999
23,299,999
11
Retained earnings
2025
2024
£
£
At the beginning of the year
(6,952,235)
(5,313,985)
Profit/(loss) for the year
460,132
(1,638,250)
At the end of the year
(6,492,103)
(6,952,235)
12
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 audior's report was unqualified.
Senior Statutory Auditor:
Laura S V Jackson
Statutory Auditor:
BDO Northern Ireland
Date of audit report:
23 July 2026
13
Other leasing information
As lessor
2025
2024
Maturity analysis of operating lease payments receivable:
£
£
Within one year
1,403,608
1,403,608
Between two and five years
4,943,967
5,431,978
After 5 years
7,517,820
8,433,417
Total undiscounted lease payments receivable
13,865,395
15,269,003
14
Related party transactions

Included in borrowings is a loan of £30.9m (2024: £31.7m) from its parent company for the purpose of funding the acquisition of the investment property. The loan is unsecured and is payable on the 28th October 2026. The market interest of 2.1% was charged by the parent company, which is payable annually.

HMT CANNON PLACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2025
- 10 -
15
Controlling party

The immediate and ultimate parent company is Amcotec NV whose registered office address is 79 Huette, Eupen, Belgium 4700.

16
Cash generated from operations
2025
2024
£
£
Profit/(loss) for the year before income tax
613,509
(1,484,517)
Adjustments for:
Finance costs
661,331
670,349
Depreciation and impairment of investment properties
-
0
2,100,000
Movements in working capital:
(Increase)/decrease in Trade and other receivables
(73)
-
Increase/(decrease) in trade and other payables
3,187
(45,291)
Decrease in deferred revenue outstanding
(1,405)
(351)
Cash generated from operations
1,276,549
1,240,190
Cash absorbed by operations has been calculated using the indirect method.
2025-12-31 2025-01-01 false false CCH Software CCH Accounts Production 2026.100 M Ceyssens M Laukin Mr N Thompson Mr B J Chambers TRUE 2026-07-23 13647297 2025-01-01 2025-12-31 13647297 2025-12-31 13647297 2024-12-31 13647297 2024-12-31 13647297 2023-12-31 13647297 core:CurrentFinancialInstruments 2025-12-31 13647297 core:CurrentFinancialInstruments 2024-12-31 13647297 core:Non-currentFinancialInstruments 2025-12-31 13647297 core:Non-currentFinancialInstruments 2024-12-31 13647297 core:ShareCapital 2025-12-31 13647297 core:ShareCapital 2024-12-31 13647297 core:SharePremium 2025-12-31 13647297 core:SharePremium 2024-12-31 13647297 core:RetainedEarningsAccumulatedLosses 2025-12-31 13647297 core:RetainedEarningsAccumulatedLosses 2024-12-31 13647297 core:SharePremium 2023-12-31 13647297 core:OtherMiscellaneousReserve 2023-12-31 13647297 bus:Director2 2025-01-01 2025-12-31 13647297 bus:Director4 2025-01-01 2025-12-31 13647297 core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 13647297 core:RetainedEarningsAccumulatedLosses 2025-01-01 2025-12-31 13647297 2024-01-01 2024-12-31 13647297 core:CurrentFinancialInstruments core:ValueBeforeAllowanceForImpairmentLoss 2025-12-31 13647297 core:CurrentFinancialInstruments core:ValueBeforeAllowanceForImpairmentLoss 2024-12-31 13647297 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 13647297 bus:Audited 2025-01-01 2025-12-31 13647297 bus:FullIFRS 2025-01-01 2025-12-31 13647297 bus:Director1 2025-01-01 2025-12-31 13647297 bus:Director3 2025-01-01 2025-12-31 13647297 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP