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BRAEBURN ESTATES (LOLLARD STREET) LIMITED Registered number: 08756459 DIRECTORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
BRAEBURN ESTATES (LOLLARD STREET) LIMITED CONTENTS
| Page
Directors' Report | 1 - 2
Directors' Responsibilities Statement | 3
Independent Auditor's Report | 4 - 7
Statement of Comprehensive Income | 8
Statement of Financial Position | 9
Statement of Changes in Equity | 10
Statement of Cash Flows | 11
Notes to the Financial Statements | 12 - 19
BRAEBURN ESTATES (LOLLARD STREET) LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The directors present their report and the financial statements for the year ended 31 December 2025. In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
PRINCIPAL ACTIVITY
The company is a building contractor in relation to a site at Lollard Street, London. The building reached practical completion on 29 March 2019.
RESULTS AND DIVIDENDS
The loss for the year, after taxation, amounted to £2,155 (2024 - loss £1,109). No dividends have been paid or proposed during the year and to the date of this report (2024: £Nil).
DIRECTORS
The directors who served during the year and up to the date of this report were:
T K A A Al-Abdulla
A Al-Attiyah (resigned 29 May 2025)
S Z Khan
R E Oakes (resigned 21 January 2026)
A R J Vallintine
T W J Venner
M A A Al-Hashmi (appointed 29 May 2025)
J M Holmes (appointed 24 March 2026) QUALIFYING THIRD-PARTY INDEMNITY PROVISIONS The Company has in place a qualifying third-party indemnity provision for all directors (to the extent permitted by law) in respect of liabilities incurred as a result of their office. The Company also has in place liability insurance covering the directors and officers of the company and any associated companies. Both the indemnity and insurance were in force during the year ended 31 December 2025 and at the time of the approval of this Directors' Report. Neither the indemnity nor the insurance provides cover in the event that the director is proven to have acted dishonestly or fraudulently.
GOING CONCERN
For details in respect of going concern refer to Note 2.
DISCLOSURE OF INFORMATION TO AUDITOR
The directors confirm that: ∙so far as each director is aware, there is no relevant audit information of which the company's auditor is unaware, and ∙the directors have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company’s auditor is aware of that information. This confirmation is given and should be interpreted in accordance with the provisions of section 418 of the Companies Act 2006. Page 1
BRAEBURN ESTATES (LOLLARD STREET) LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
AUDITOR
The auditor, Grant Thornton UK LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board on 16 June 2026 and signed on its behalf.
T W J Venner Director | T K A A Al-Abdulla Director
Page 2
BRAEBURN ESTATES (LOLLARD STREET) LIMITED DIRECTORS' RESPONSIBILITIES STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2025 The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom adopted international accounting standards in conformity with the requirements of the Companies Act 2006 and International Financial Reporting Standards as issued by the IASB. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs and profit or loss of the company for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies for the company's financial statements and then apply them consistently; ∙make judgements and accounting estimates that are reasonable and prudent; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 3
BRAEBURN ESTATES (LOLLARD STREET) LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRAEBURN ESTATES (LOLLARD STREET) LIMITED REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS OPINION We have audited the financial statements of Braeburn Estates (Lollard Street) Limited (the 'company') for the year ended 31 December 2025, which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including material accounting policy information. The financial reporting framework that has been applied in their preparation is applicable law and UK-adopted international accounting standards. 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 loss for the year then ended; ∙the financial statements have been properly prepared in accordance with UK-adopted international accounting standards; and ∙the financial statements have been prepared in accordance with the requirements of the Companies Act 2006. SEPARATE OPINION IN RELATION TO INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRSs) AS ISSUED BY THE IASB As explained in note 2 to the financial statements, the company, in addition to applying UK-adopted international accounting standards, has also applied IFRSs as issued by the International Accounting Standards Board (IASB). In our opinion the financial statements give a true and fair view of the financial position of the company as at 31 December 2025 and of its financial performance and its cash flows for the year then ended in accordance with IFRSs as issued by the IASB. BASIS FOR OPINION We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the ‘Auditor’s responsibilities for the audit of the financial statements’ section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN We are responsible for concluding on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify the auditor’s opinion. Our conclusions are based on the audit evidence obtained up to the date of our report. However, future events or conditions may cause the company to cease to continue as a going concern. In our evaluation of the directors’ conclusions, we considered the inherent risks associated with the company's business model including effects arising from global macro-economic uncertainties such as interest rates, we assessed and challenged the reasonableness of estimates made by the directors and the related disclosures and analysed how those risks might affect the company's financial resources or ability to continue operations over the going concern period. Page 4
BRAEBURN ESTATES (LOLLARD STREET) LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRAEBURN ESTATES (LOLLARD STREET) LIMITED In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. OTHER INFORMATION The other information comprises the information included in the directors' report and financial statements, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the directors' report and financial statements. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006 In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the directors’ report has been prepared in accordance with applicable legal requirements. MATTER ON WHICH WE ARE REQUIRED TO REPORT UNDER THE COMPANIES ACT 2006 In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors’ remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit; or ∙the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report. Page 5
BRAEBURN ESTATES (LOLLARD STREET) LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRAEBURN ESTATES (LOLLARD STREET) LIMITED RESPONSIBILITIES OF DIRECTORS As explained more fully in the directors' responsibilities statement [Page 3], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. ∙We obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant were UK- adopted international accounting standards and International Financial Reporting Standards (IFRS’s) as issued by the IASB, tax legislation and the Companies Act 2006; ∙We obtained an understanding of the legal and regulatory frameworks applicable to the company and industry in which it operates through our general commercial and sector experience and discussions with management. We corroborated our enquiries through review of Board minutes. ∙We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur and the risk of management override of controls. ∙Our audit procedures performed by the engagement team included: °Identifying and assessing the design and implementation of controls management has in place to prevent and detect fraud; °challenging assumptions and judgements made by management in its significant accounting estimates; °Identifying and testing journal entries that are deemed unusual based on our risk assessment; and °Completing audit procedures to conclude on the compliance of disclosures in the annual report and accounts with applicable financial reporting requirements. ∙These audit procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error and detecting irregularities that result from fraud is inherently more difficult than detecting those that result from error, as fraud may involve collusion, deliberate concealment, forgery or intentional misrepresentations. Also, the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it; Page 6
BRAEBURN ESTATES (LOLLARD STREET) LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRAEBURN ESTATES (LOLLARD STREET) LIMITED ∙The engagement partner's assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagement team’s: °Understanding of, and practical experience with audit engagements of a similar nature and complexity through appropriate training and participation °Knowledge of the industry in which the client operates °Understanding of the legal and regulatory requirements specific to the entity ∙We communicated relevant laws and regulations and potential fraud risks to all engagement team members, including internal specialists, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk /auditorsresponsibilities. This description forms part of our auditor’s report. USE OF OUR REPORT This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed. Elizabeth Collins BSc(Hons) ACA Senior Statutory Auditor for and on behalf of Grant Thornton UK LLP Statutory Auditor, Chartered Accountants London 16 June 2026 Page 7
BRAEBURN ESTATES (LOLLARD STREET) LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2025
| 2025 | 2024
Note | £ | £
Turnover | 4 | 683 | -
Cost of sales |  | (674) | -
GROSS PROFIT |  | 9 | -
Administrative expenses |  | (9,355) | (4,229)
OPERATING LOSS |  | (9,346) | (4,229)
Interest receivable and similar income | 7 | 7,209 | 4,943
Interest payable and similar expenses | 8 | (18) | (12)
(LOSS)/PROFIT BEFORE TAX |  | (2,155) | 702
Tax on (loss)/profit | 9 | - | (1,811)
LOSS FOR THE FINANCIAL YEAR |  | (2,155) | (1,109)
Other comprehensive income |  | - | -
TOTAL COMPREHENSIVE EXPENSE FOR THE YEAR |  | (2,155) | (1,109)
The notes on pages 12 to 19 form part of these financial statements.
Page 8
BRAEBURN ESTATES (LOLLARD STREET) LIMITED REGISTERED NUMBER: 08756459 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
| 2025 | 2024
Note | £ | £
CURRENT ASSETS |  |  |
Debtors: amounts falling due within one year | 10 | 59,316,674 | 59,318,382
Cash at bank and in hand | 11 | 179,514 | 168,914
|  | 59,496,188 | 59,487,296
Creditors: amounts falling due within one year | 12 | (59,255,815) | (59,244,768)
NET CURRENT ASSETS |  | 240,373 | 242,528
TOTAL ASSETS LESS CURRENT LIABILITIES |  | 240,373 | 242,528
NET ASSETS |  | 240,373 | 242,528
CAPITAL AND RESERVES |  |  |
Called up share capital | 14 | 1 | 1
Retained earnings |  | 240,372 | 242,527
|  | 240,373 | 242,528
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 June 2026.
T W J Venner | T K A A Al-Abdulla
Director | Director
Page 9
BRAEBURN ESTATES (LOLLARD STREET) LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2025
| Called up share capital | Retained earnings | Total equity
| £ | £ | £
At 1 January 2025 | 1 | 242,527 | 242,528
COMPREHENSIVE EXPENSE FOR THE YEAR |  |  |
Loss for the year | - | (2,155) | (2,155)
TOTAL COMPREHENSIVE EXPENSE FOR THE YEAR | - | (2,155) | (2,155)
AT 31 DECEMBER 2025 | 1 | 240,372 | 240,373
| The notes on pages 12 to 19 form part of these financial statements.
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2024
| Called up share capital | Retained earnings | Total equity
| £ | £ | £
At 1 January 2024 | 1 | 243,636 | 243,637
COMPREHENSIVE EXPENSE FOR THE YEAR |  |  |
Loss for the year | - | (1,109) | (1,109)
TOTAL COMPREHENSIVE EXPENSE FOR THE YEAR | - | (1,109) | (1,109)
AT 31 DECEMBER 2024 | 1 | 242,527 | 242,528
| The notes on pages 12 to 19 form part of these financial statements.
Page 10
BRAEBURN ESTATES (LOLLARD STREET) LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025
|  |  | 2025 | 2024
|  |  | £ | £
CASH FLOWS FROM OPERATING ACTIVITIES |  |
(Loss) for the financial year | (2,155) | (1,109)
ADJUSTMENTS FOR: |  |
Interest received | (7,209) | (4,943)
Taxation charge | - | 1,811
(Increase)/decrease in debtors | 1,710 | (4,406)
Increase/(decrease) in creditors | 11,045 | 122,622
NET CASH GENERATED FROM OPERATING ACTIVITIES | 3,391 | 113,975
CASH FLOWS FROM INVESTING ACTIVITIES |  |
Interest received | 7,209 | 4,943
NET CASH FROM INVESTING ACTIVITIES | 7,209 | 4,943
INCREASE IN CASH AND CASH EQUIVALENTS | 10,600 | 118,918
Cash and cash equivalents at beginning of year | 168,914 | 49,996
CASH AND CASH EQUIVALENTS AT THE END OF YEAR | 179,514 | 168,914
CASH AND CASH EQUIVALENTS AT THE END OF YEAR COMPRISE: |  |
Cash at bank and in hand | 179,514 | 168,914
| 179,514 | 168,914
The notes on pages 12 to 19 form part of these financial statements.
Page 11
BRAEBURN ESTATES (LOLLARD STREET) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | GENERAL INFORMATION
Braeburn Estates (Lollard Street) Limited is a private company limited by shares incorporated in the UK under the Companies Act 2006 and registered in England and Wales at 30th Floor, One Canada Square, Canary Wharf, London, E14 5AB. The nature of the company's operations and its principal activities are set out in the Directors' Report. 2.ACCOUNTING POLICIES
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared in accordance with United Kingdom adopted international accounting standards and International Financial Reporting Standards (IFRSs) as issued by the International Accounting Standards Board (IASB) in conformity with the requirements of the Companies Act 2006. At the date of authorisation of these financial statements, several new, but not yet effective, Standards and amendments to existing Standards, and Interpretations have been published by the IASB or IFRIC. None of these Standards or amendments to existing Standards have been adopted early by the Company and no Interpretations have been issued that are applicable and need to be taken into consideration by the Company at either reporting date. Management anticipates that all relevant pronouncements will be adopted for the first period beginning on or after the effective date of the pronouncement. In April 2024, the IASB issued IFRS 18, which replaces IAS 1 ‘Presentation of Financial Statements’. Although IFRS 18 includes many of the requirements of IAS 1, it introduces new requirements to better structure financial statements and to provide more detailed and useful information to investors, including: ∙Two new subtotals defined in the statement of profit or loss, namely (1) operating profit and (2) profit or loss before financing and income taxes; ∙The classification of all income and expenses within the statement of profit or loss in one of five categories; ∙A new requirement to disclose performance measures defined by management; and ∙An improvement in the principles related to the aggregation and disaggregation of information in the financial statements and accompanying notes. Some of the disclosure requirements previously contained in IAS 1 have been transferred to IAS 8 without any material changes. This applies in particular to disclosures on accounting policies and sources of estimation uncertainty. As a result of these changes, IAS 8 will be renamed ‘Basis of Preparation of Financial Statements’. The publication of IFRS 18 also results in consequential amendments to other IFRS Accounting Standards, including IAS 7. IFRS 18 is effective for annual periods beginning on or after 1 January 2027, with earlier application permitted. IFRS 18 will be applied retrospectively with specific transitional provisions. The group of which the company is part is currently working to identify all the impacts that IFRS 18 will have on the primary financial statements and notes to the financial statements. Other new Standards, amendments and Interpretations not been adopted in the current year have not been disclosed as they are not expected to have a material impact on the company's financial statements. Page 12
BRAEBURN ESTATES (LOLLARD STREET) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.ACCOUNTING POLICIES (CONTINUED) The directors anticipate that the adoption of these standards in future periods will not have a material impact on the financial statements of the company. The preparation of financial statements in compliance with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company’s accounting policies (see Note 3). The functional currency of the company is considered to be pounds sterling because that is the currency of the primary economic environment in which it operates. The principal accounting policies are summarised below:
| 2.2 | Going concern
In assessing the going concern basis of the company the directors have considered a period of at least 12 months from the date of approval of these financial statements. At the year end the company was in a net asset and net current asset position. The company is a member of the Braeburn Estates Limited Partnership group, which manages its cash flows on a unified basis. Having made the requisite enquiries and assessed the resources at the disposal of the company, the directors have a reasonable expectation that the company will have adequate resources to continue its operation for the foreseeable future, being a period of at least 12 months from the date of approval of these financial statements. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
| 2.3 | Turnover
Revenue from the provision of building services is recognised by reference to the recoverable direct and indirect costs charged in the period, plus a fixed percentage fee.
| 2.4 | Financial instruments
Trade and other receivables Receivables are recognised initially at fair value. A provision for impairment is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtor concerned. Such assets are subsequently carried at amortised cost using the effective interest method. Cash and cash equivalents Cash and cash equivalents comprise cash balances, deposits held with banks and other short term highly liquid investments with original maturities of 3 months or less, which are held for the purpose of meeting short term cash commitments. Trade and other payables Trade and other creditors are stated at amortised cost.
| 2.5 | Taxation
Current tax is provided at amounts expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date. Page 13
BRAEBURN ESTATES (LOLLARD STREET) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
3. | CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
The preparation of financial statements in conformity with generally accepted accounting principles requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Although these estimates are based on management’s best knowledge of the amount, event or actions, actual results ultimately may differ from those estimates. The preparation of financial statements also requires use of judgements, apart from those involving estimation, that management makes in the process of applying the entity’s accounting policies. For the year ended 31 December 2025 there were no critical accounting judgements or estimates identified that would have a significant impact on the amounts recognised in the financial statements, or create a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
4. | TURNOVER
| An analysis of turnover is as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Provision of building services | 683 | -
|  | 683 | -
| All turnover arose within the United Kingdom.
5. | AUDITOR'S REMUNERATION
| Auditor's remuneration of £3,090 (2024: £3,000) for the audit of the company has been borne by Braeburn Estates Limited Partnership.
6. | EMPLOYEES
| The Company had no employees during the year (2024: Nil). No remuneration was paid by the Company to Directors for their services to the Company and no costs were allocated or recharged to the Company (2024: £Nil).
7. | INTEREST RECEIVABLE AND SIMILAR INCOME
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank interest | 7,209 | 4,943
|  | 7,209 | 4,943
Page 14
BRAEBURN ESTATES (LOLLARD STREET) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
8. | INTEREST PAYABLE AND SIMILAR EXPENSES
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank charges | 18 | 12
|  | 18 | 12
9. | TAXATION
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on loss for the year | - | 1,811
| Total current tax | - | 1,811
| FACTORS AFFECTING TAX CHARGE FOR THE YEAR
| The tax assessed for the year is the same as the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| (Loss)/profit on ordinary activities before tax | (2,155) | 702
| (Loss)/profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | (539) | 176
| Effects of: |  |
| Group relief | - | 1,635
| Set-off of losses brought forward | 539 | -
| Total tax charge for the year | - | 1,811
| FACTORS THAT MAY AFFECT FUTURE TAX CHARGES
The standard rate of corporation tax payable by the company for the year ended 31 December 2025 is 25% (2024 – 25%). Page 15
BRAEBURN ESTATES (LOLLARD STREET) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
10. | TRADE AND OTHER RECEIVABLES
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts due from group undertakings | 59,311,865 | 59,311,181
| Amounts due from associated entities | 2,527 | 2,527
| Other receivables | 882 | 3,274
| Tax recoverable | 1,400 | 1,400
|  | 59,316,674 | 59,318,382
| Amounts due from associated entities are comprised of:
|  | 2025 | 2024
|  | £ | £
| Canary Wharf Limited | 1,588 | 1,588
| Canary Wharf Contractors Limited | 939 | 939
|  | 2,527 | 2,527
| Amounts due from associated entities are unsecured, interest free and repayable on demand. Amounts due from group undertakings comprise:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Braeburn Estates (GP) Limited | 60 | 60
| Braeburn Estates (B3) Limited Partnership | 6,466,143 | 6,466,055
| Braeburn Estates (B4A) Limited Partnership | 10,865,285 | 10,865,139
| Braeburn Estates (B4B) Limited Partnership | 9,132,712 | 9,132,590
| Braeburn Estates (B5) Limited Partnership | 14,137,787 | 14,137,597
| Braeburn Estates (B6/7) Limited Partnership | 18,709,878 | 18,709,740
|  | 59,311,865 | 59,311,181
| Amounts due from group undertakings are unsecured, interest free and repayable on demand.
11. | CASH AND CASH EQUIVALENTS
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 179,514 | 168,914
|  | 179,514 | 168,914
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BRAEBURN ESTATES (LOLLARD STREET) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
12. | TRADE AND OTHER PAYABLES
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts due to group undertakings | 59,232,731 | 59,221,162
| Amounts due to associated entities | 23,084 | 23,084
| Other taxation and social security | - | 522
|  | 59,255,815 | 59,244,768
| Amounts due to associated entities are comprised of:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Braeburn Estates Development Management Limited | 23,084 | 23,084
|  | 23,084 | 23,084
| The amounts due to associated entities are unsecured, interest free and repayable on demand. Amounts due to group undertakings comprise:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Braeburn Estates Limited Partnership | 59,232,731 | 59,221,162
|  | 59,232,731 | 59,221,162
| The amounts due to group undertakings are unsecured, interest free and repayable on demand.
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BRAEBURN ESTATES (LOLLARD STREET) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
13. | FINANCIAL INSTRUMENTS
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Financial assets |  |
| Cash and cash equivalents | 179,514 | 168,914
| Financial assets that are debt instruments measured at amortised cost | 59,315,273 | 59,316,982
|  | 59,494,787 | 59,485,896
| Financial liabilities |  |
| Financial liabilities measured at amortised cost | 59,255,815 | 59,244,246
|  | 59,255,815 | 59,244,246
| Capital risk management The company manages its capital to ensure that it will be able to continue as a going concern. The capital structure of the company consists of cash and cash equivalents and equity, including reserves, as disclosed in the Statement of Changes in Equity. Credit risk management The company’s credit risk is primarily attributable to its receivables. The amounts presented in the balance sheet are presented net of loss allowances where required. The company measures the loss allowance for other receivables at an amount equal to a 12-month expected credit loss as the credit risk on other receivables has not increased significantly since the initial recognition. The company has not recognised any loss allowance at 31 December 2025 and 2024 against receivables because the amounts are receivable from a related party and historical experience has indicated that these receivables are fully recoverable. There has been no change in the estimation techniques or significant assumptions made during the current reporting period. Financial risk management objectives The company’s objective in managing risk is the creation and protection of shareholder value. Risk is inherent in the Company’s activities, but it is managed through a process of ongoing identification, measurement and monitoring, subject to risk limits and other controls. The process of risk management is critical to the company’s continuing profitability. The Board of Directors supervises and is ultimately responsible for the overall risk management of the company.
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BRAEBURN ESTATES (LOLLARD STREET) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
14. | SHARE CAPITAL
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1 (2024 - 1) ordinary share of £1.00 | 1 | 1
15.OTHER FINANCIAL COMMITMENTS As at 31 December 2025 and 31 December 2024 the company had given fixed and floating charges over substantially all its assets to secure the commitments of certain other group undertakings.
16. | RELATED PARTY TRANSACTIONS
The company did not enter into transactions for services, charges, or income with related parties during the year. The company incurred charges of £2,389 from Canary Wharf Limited in respect of administration services in prior year.
17. | CONTROLLING PARTY
The company's immediate parent undertaking is Braeburn Estates (GP) Limited for and on behalf of Braeburn Estates Limited Partnership. At 31 December 2025, the smallest and largest group of which the company is a member and for which group financial statements are drawn up is the consolidated financial statements of Braeburn Estates Limited Partnership. Braeburn Estates Limited Partnership is a joint venture between Project Russet Property Unit Trust and Canary Wharf (PB) Unit Trust. Copies of the financial statements may be obtained from the Company Secretary, One Canada Square, Canary Wharf, London, E14 5AB.
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