Caseware UK (AP4) 2024.0.164 2024.0.164 2025-12-31 2025-12-31 false 2025-01-01 false investment property 0 0 true The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14059208 2025-01-01 2025-12-31 14059208 2024-01-01 2024-12-31 14059208 2025-12-31 14059208 2024-12-31 14059208 1 2025-01-01 2025-12-31 14059208 d:Director2 2025-01-01 2025-12-31 14059208 c:CurrentFinancialInstruments 2025-12-31 14059208 c:CurrentFinancialInstruments 2024-12-31 14059208 c:Non-currentFinancialInstruments 2025-12-31 14059208 c:Non-currentFinancialInstruments 2024-12-31 14059208 c:CurrentFinancialInstruments c:WithinOneYear 2025-12-31 14059208 c:CurrentFinancialInstruments c:WithinOneYear 2024-12-31 14059208 c:Non-currentFinancialInstruments c:AfterOneYear 2025-12-31 14059208 c:Non-currentFinancialInstruments c:AfterOneYear 2024-12-31 14059208 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2025-12-31 14059208 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-12-31 14059208 c:ShareCapital 2025-12-31 14059208 c:ShareCapital 2024-12-31 14059208 c:RetainedEarningsAccumulatedLosses 2025-12-31 14059208 c:RetainedEarningsAccumulatedLosses 2024-12-31 14059208 d:OrdinaryShareClass1 2025-01-01 2025-12-31 14059208 d:OrdinaryShareClass1 2025-12-31 14059208 d:OrdinaryShareClass1 2024-12-31 14059208 d:OrdinaryShareClass2 2025-01-01 2025-12-31 14059208 d:OrdinaryShareClass2 2025-12-31 14059208 d:OrdinaryShareClass2 2024-12-31 14059208 d:OrdinaryShareClass3 2025-01-01 2025-12-31 14059208 d:OrdinaryShareClass3 2025-12-31 14059208 d:OrdinaryShareClass3 2024-12-31 14059208 d:FRS102 2025-01-01 2025-12-31 14059208 d:AuditExempt-NoAccountantsReport 2025-01-01 2025-12-31 14059208 d:FullAccounts 2025-01-01 2025-12-31 14059208 d:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 14059208 2 2025-01-01 2025-12-31 14059208 e:PoundSterling 2025-01-01 2025-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 14059208 TAURUS (PARSONS GREEN) LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2025
TAURUS (PARSONS GREEN) LIMITED REGISTERED NUMBER: 14059208 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Current assets |  |  |  |  |
Stocks | 5 | 35,203,243 |  | 21,753,649 |
Debtors: amounts falling due within one year | 6 | 416,642 |  | 2,841,468 |
Cash and cash equivalents | 7 | 2,606,508 |  | 1,316,839 |
|  | 38,226,393 |  | 25,911,956 |
Creditors: amounts falling due within one year | 8 | (16,131,323) |  | (1,517,297) |
Net current assets |  |  | 22,095,070 |  | 24,394,659
Total assets less current liabilities |  |  | 22,095,070 |  | 24,394,659
Creditors: amounts falling due after more than one year | 9 |  | (10,350,000) |  | (12,312,610)
Net assets |  |  | 11,745,070 |  | 12,082,049
Capital and reserves |  |  |  |  |
Called up share capital | 11 |  | 14,282,500 |  | 14,282,500
Profit and loss account |  |  | (2,537,430) |  | (2,200,451)
Total equity |  |  | 11,745,070 |  | 12,082,049
The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Nicholas Harry Jacobs
Page 1
TAURUS (PARSONS GREEN) LIMITED REGISTERED NUMBER: 14059208 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2025
Director
Date: 7 August 2026
The notes on pages 3 to 9 form part of these financial statements. Page 2
TAURUS (PARSONS GREEN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Taurus (Parsons Green) Limited is a private limited company incorporated in England with the company number 14059208. The Company's registered office is 8 Richmond Mews, London, United Kingdom, W1D 3DH. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | Going concern
These financial statements have been prepared on a going concern basis. The Company is dependent upon the continued financial support of the shareholder to continue operating and to meet its liabilities as they fall due. The shareholder agrees to continue to provide financial support to the Company and not to call on the shareholder loan until such a time as the Company is in a position to repay the loan. Accordingly, the Directors have prepared the financial statements on a going concern basis. The Directors have received confirmation from the shareholder that financial support will continue for at least 12 months from the date of approval of the financial statements.
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Page 3
TAURUS (PARSONS GREEN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.4 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.7 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.8 | Stocks
Property, including land held under development, acquired or being constructed for sale in the ordinary course of business, rather than to be held for rental or capital appreciation, is held as stock and is measured at the lower of cost and net realisable value. Cost comprises of the invoiced value of the development works to date, planning application fees and other planning related costs. The land acquisition was recognised at the date of legal completion deemed to be the unconditional date of exchange. Net realisable value is the estimated selling price in the ordinary course of the business, based on market prices at the reporting date and discounted for the time value of money if material, less estimated costs of completion and the estimated costs necessary to make the sale. At each reporting date, an assessment is made for impairment and any excess of the carrying amount of stocks over its net realisable value is recognised as an impairment loss in the Statement of comprehensive income. Page 4
TAURUS (PARSONS GREEN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.9 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.10 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.11 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.12 | Financial instruments
The Company only enters into basic financial instrument 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 related parties and investments in ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date. Page 5
TAURUS (PARSONS GREEN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.12 | Financial instruments (continued)
Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an 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.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
No significant judgements have had to be made by the directors in preparing these financial statements.
4. | Employees
| The Company has no employees other than the Directors, who did not receive any remuneration (2024: £nil).
5. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Work in progress | 35,203,243 | 21,753,649
6. | Debtors: amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 136,692 | 136,692
| Other debtors | 220,932 | 2,602,319
| Prepayments and accrued income | 59,018 | 102,457
|  | 416,642 | 2,841,468
| Please refer to note 12 for breakdown of amounts owed to group undertakings. Included in other debtors is a £Nil (2024: £2,400,000) contingency deposit with Puma as part of the loan facility agreement.
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 2,606,508 | 1,316,839
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TAURUS (PARSONS GREEN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
8. | Creditors: amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans (note 9) | 13,433,416 | -
| Trade creditors | 1,261,292 | 512,040
| Shareholder loan interest (note 9) | 650,774 | 565,890
| Accruals and deferred income | 785,841 | 439,367
|  | 16,131,323 | 1,517,297
9. | Creditors: amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | - | 3,312,610
| Shareholder loan | 10,350,000 | 9,000,000
|  | 10,350,000 | 12,312,610
| In August 2024 following the group structure (Note 14 below), the Company entered into a loan agreement with its parent company, Taurus Parsons Green Holdco 2 Limited. The loan is for a maximum amount of £9m, bears interest of 15% per annum and is repayable by 31st July 2027. Loan interest amounting to £1.35m (2024: £nil) was capitalised during the year, in line with the capitalisation provisions set out in the loan agreement.
| The following liabilities were secured:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 13,433,416 | 3,312,610
| Details of security provided:
Bank loans comprise the Puma senior loan facility drawn in July 2022. The facility has a term of 36 months and incurs interest at a fixed rate of 6.50% which is currently being compounded. The loan is secured on development property in Parsons Green, Alexander House. Bank loans are shown net of unamortised loan issuance costs of £151,565 (2024: £316,909). In August 2024, the Company entered into a new loan facility agreement with Puma and repaid the existing loan. The new facility is for an amount of up to £25.6m, incurs interest at 8.75% per annum and is repayable by 30th November 2026. Page 7
TAURUS (PARSONS GREEN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
10. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 13,433,416 | -
|  | 13,433,416 | -
| Amounts falling due 2-5 years |  |
| Bank loans | - | 3,312,610
| Shareholder loan | 10,350,000 | 9,000,000
|  | 10,350,000 | 12,312,610
11. | Called up share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 8,412,500 (2024: 8,412,500) Ordinary Shares - class A shares of £1.00 each | 8,412,500 | 8,412,500
|  | 750,000 (2024: 750,000) Ordinary Shares - class B shares of £1.00 each | 750,000 | 750,000
|  | 5,120,000 (2024: 5,120,000) Ordinary Shares - class C shares of £1.00 each | 5,120,000 | 5,120,000
|  |  | 14,282,500 | 14,282,500
12. | Related party transactions
| Included in amounts owed by group undertakings as at 31 December 2025 is £136,692 (2024: £136,692) owed by Taurus CD 243 Parsons Green Jersey Limited and £nil (2024: £nil) owed by Profimex Parsons Green Limited, both shareholders of the Company. These are interest free loans repayable on demand. Included within creditors is a shareholder loan from Taurus Parsons Green Holdco 2 Limited amounting to £10,350,000 (2024: £9,000,000). Interest is charged at 15% per annum. There were no other related party transactions outside the normal course of business.
13. | Post balance sheet events
There were no significant events subsequent to the year end to report. Page 8
TAURUS (PARSONS GREEN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
14. | Controlling party
In August 2024, following a group restructure, the entire share capital of Taurus (Parsons Green) Limited was acquired by Taurus Parsons Green Holdco 2 Limited, a wholly owned subsidiary of Taurus Parsons Green Holdco 1 Limited. Both the latter two are newly incorporated entities registered in England and Wales. The ultimate controlling party remains Taurus CD 243 Parsons Green Jersey Limited due to its majority shareholding in Taurus Parsons Green Holdco 1 Limited.
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