REGISTERED NUMBER: 01947282 (England and Wales)

Financial Statements

for the Year Ended 31 December 2025

for

Peerman Investments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R K Carvill

R J MacGregor

A K Carvill

G M Anderson

R H Fewster

P Ahmed

SECRETARY:

Augustine Nominees Ltd

REGISTERED OFFICE:

32 Beauchamp Place

London

SW3 1NU

REGISTERED NUMBER:

01947282 (England and Wales)

AUDITORS:

Anstey Bond LLP

Statutory Auditors &

Chartered Accountants

1-2 Charterhouse Mews

London

EC1M 6BB

FIXED ASSETS

Tangible assets

4

13,233

5,320

Investment property

5

69,425,000

74,150,000

69,438,233

74,155,320

CURRENT ASSETS

Debtors

6

203,296

404,079

Cash at bank and in hand

1,937,193

2,101,290

2,140,489

2,505,369

CREDITORS

Amounts falling due within one year

7

(30,721,395

)

(30,571,973

)

NET CURRENT LIABILITIES

(28,580,906

)

(28,066,604

)

TOTAL ASSETS LESS CURRENT LIABILITIES

40,857,327

46,088,716

PROVISIONS FOR LIABILITIES

(6,670,139

)

(7,864,248

)

NET ASSETS

34,187,188

38,224,468

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

8

36,256,446

39,838,775

Retained earnings

(2,069,358

)

(1,614,407

)

SHAREHOLDERS' FUNDS

34,187,188

38,224,468

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2026 and were signed on its behalf by:

G M Anderson - Director

1.	STATUTORY INFORMATION

Peerman Investments Limited 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents rental income and other miscellaneous income receivable, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are included in the balance sheet at fair value. Any aggregate surplus or deficit arising from a change in fair value is recognised in the income statement.

Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities, it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors, compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

The directors do not believe that depreciation is required in respect of the investment properties held, as the properties are revalued each year and any increase or impairment in value is taken to the revaluation reserve.

Taxation

Taxation for the year comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

Current value of deferred taxation assets and liabilities are not discounted.

Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

Deferred tax

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These 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 recognised on all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are only recognised when it is probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax relating to investment property measured at fair value, is measured using the tax rates and allowances that apply to the sale of the asset, with exception to investment property with a limited useful life.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents

In the company's statement of cash flows, cash and cash equivalents includes cash on hand and deposits held at call with banks.

Trade and other debtors

Trade and other debtors are recognised initially at fair value. Subsequent to initial recognition, they are measured at amortised cost using the effective interest method, less any impairment losses.

Trade and other creditors

Trade and other creditors are recognised initially at fair value. Subsequent to initial recognition, they are measured at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

23,579

Additions

12,324

At 31 December 2025

35,903

DEPRECIATION

At 1 January 2025

18,259

Charge for year

4,411

At 31 December 2025

22,670

NET BOOK VALUE

At 31 December 2025

13,233

At 31 December 2024

5,320

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

74,150,000

Additions

51,438

Revaluation

(4,776,438

)

At 31 December 2025

69,425,000

NET BOOK VALUE

At 31 December 2025

69,425,000

At 31 December 2024

74,150,000

Fair value at 31 December 2025 is represented by:

£

Valuation in 2016

49,678,012

Valuation in 2017

(1,085,687

)

Valuation in 2018

(4,649,356

)

Valuation in 2019

(2,776,493

)

Valuation in 2020

1,206,992

Valuation in 2021

(593,445

)

Valuation in 2022

3,998,000

Valuation in 2023

1,400,000

Valuation in 2024

525,000

Valuation in 2025

(4,776,438

)

Cost

26,498,415

69,425,000

If investment properties had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

26,498,415

26,446,977

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

85,775

252,973

Other debtors

117,521

151,106

203,296

404,079

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

299,763

280,928

Taxation and social security

25,066

24,449

Other creditors

30,396,566

30,266,596

30,721,395

30,571,973

8.

RESERVES

Fair

value

reserve

£

At 1 January 2025

39,838,775

Transfer for unrealised profit

(3,582,329

)

At 31 December 2025

36,256,446

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

The Report of the Auditors was unqualified.

Colin Ellis FCCA CF (Senior Statutory Auditor)

for and on behalf of Anstey Bond LLP

10.	RELATED PARTY DISCLOSURES

At the balance sheet date, included within other creditors is the balance of £30,000,000 (2024: £30,000,000) due to Mr R K Carvill, a director and shareholder of the company.

11.	ULTIMATE CONTROLLING PARTY