REGISTERED NUMBER: 15024587 (England and Wales)

Financial Statements

for the Year Ended 31 December 2025

for

COHORT RESERVE TOPCO LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Balbinder Singh Sohal

Matthew John Stuchfield Thame

REGISTERED OFFICE:

97 Park Lane

Mayfair

London

W1K 7TG

REGISTERED NUMBER:

15024587 (England and Wales)

AUDITORS:

Brindleys Limited

Statutory Auditors

2 Wheeleys Road

Edgbaston

Birmingham

West Midlands

B15 2LD

CURRENT ASSETS

Debtors

4

489

180

Cash at bank and in hand

6,643

858

7,132

1,038

CREDITORS

Amounts falling due within one year

5

84,897

24,260

NET CURRENT LIABILITIES

(77,765

)

(23,222

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(77,765

)

(23,222

)

CAPITAL AND RESERVES

Called up share capital

6

200

200

Retained earnings

7

(77,965

)

(23,422

)

SHAREHOLDERS' FUNDS

(77,765

)

(23,222

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account and Other Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 August 2026 and were signed on its behalf by:

Balbinder Singh Sohal - Director

1.	STATUTORY INFORMATION

Cohort Reserve Topco Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

Impairment of trade receivables

The group makes an estimate of the recoverable amount of trade and other debtors. When assessing impairment of trade and other receivables, management considers factors including the credit rating of the receivable, the ageing profile of receivables and historical experience.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern

The financial statements have been prepared on a going concern basis, despite the company reporting a loss before tax of £54,543 (2024: £23,182) for the year. As at 31 December 2025, the company had net liabilities of £77,765 (2024: £23,222).

The company is reliant on the continued financial support of its parent company to maintain its operational existence for the foreseeable future. Based on this support, the director considers it appropriate to prepare the financial statements on a going concern basis.

Basic financial instruments

In accordance with Financial Reporting Standard 102 (FRS 102), the recognition and measurement of financial instruments are applied.

Loans

The Loans are non-derivative financial assets with fixed or determinable repayments that are not quoted in an active market.

They are classified as loans and receivables. The Loans are measured on initial recognition at fair value and are subsequently measured at amortised cost using the effective interest rate method. Appropriate allowances for estimated irrecoverable amounts are recognised in the Statement of comprehensive income when there is objective evidence that the assets are impaired. The impairment recognised is measured as the difference between the asset's carrying amount and the present value of estimated future cash flows discounted at the effective interest rate computed at initial recognition on the Loans.

Subsequent increases in recoverable amounts of the Loans, which can be objectively related to an event occurring after previous impairment losses have been recognised, are recorded in the statement of comprehensive income to the extent previous impairment losses have been taken through the statement of comprehensive income. The reversal shall not result in a carrying amount of the Loans that exceeds the amortised cost had no impairment been recognised.

Impairment

The Company assesses at each Statement of financial position date whether there is any objective evidence that a financial asset is impaired. A financial asset or portfolio of financial assets is impaired and an impairment loss incurred if there is objective evidence that an event or events since initial recognition of the asset have adversely affected the amount or timing of future cash flows from the asset.

If there is objective evidence that an impairment loss on a financial asset classified as loans and receivables has been incurred, the Company measures the amount of the loss as the difference between the carrying amount of the asset and the present value of estimated future cash flows from the asset discounted at the original effective interest rate of the instrument at initial recognition.

Impairment losses are recognised in the Statement of comprehensive income and the carrying amount of the financial asset reduced by establishing an allowance for impairment losses. If in a subsequent period the amount of the impairment loss reduces and the reduction can be ascribed to an event after the impairment was recognised, the previously recognised loss is reversed by adjusting the allowance. Once an impairment loss has been recognised on a financial asset, interest income is recognised on the carrying amount using the rate of interest at which estimated future cash flows were discounted in measuring the impairment.

Interest receivable and similar income and interest payable and similar charges

Interest income on financial assets that are classified as loans and receivables and interest expense on financial liabilities is determined using the effective interest rate method. The effective interest rate method is a method of calculating the amortised cost of a financial asset or financial liability and of allocating the interest income or interest expense over the expected life of the asset or liability. The effective interest rate is the rate that exactly discounts estimated future cash flows to the instrument's initial carrying amount. In calculating the effective interest rate the Company estimates the cash flows considering all contracted terms (including default interest where relevant) but not future credit losses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

180

180

Prepayments

309

-

489

180

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

25,851

2,880

Amounts owed to group undertakings

56,296

21,380

Accrued expenses

2,750

-

84,897

24,260

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

180

Ordinary A

1

180

180

20

Ordinary B

1

20

20

200

200

7.

RESERVES

Retained

earnings

£

At 1 January 2025

(23,422

)

Deficit for the year

(54,543

)

At 31 December 2025

(77,965

)

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sajjad Sumar FCA (Senior Statutory Auditor)

for and on behalf of Brindleys Limited

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions between wholly owned subsidiaries and parent company within the group.

10.	AUDITOR LIABILITY LIMITATION AGREEMENT

We have agreed that our aggregate liability, whether to you or any other party, of whatever nature, whether in contract, tort or otherwise, for any losses whatsoever and howsoever caused arising from or in any way connected with this engagement shall in no circumstances exceed ten times our agreed fee.

11.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Cohort Capital Holdings Ltd.

The consolidated group accounts can be found at the registered office of the parent company Cohort Capital Holdings Ltd at 97 Park Lane, Mayfair, London W1K 7TG.

The ultimate controlling party is Avanter Holdings Limited registered in British Virgin Islands.