wk-2026-03-31-ixbrl

Semperian Senior Funding Plc

Annual report and financial statements for the year ended 31 March 2026

_______________________________________________________________________________________

ContentsPage


Company information .........................................................................................................................................................	1
Strategic report ...................................................................................................................................................................	2
Directors’ report ....................................................................................................................................................................	6
Statement of directors’ responsibilities .......................................................................................................................	8
Independent auditors report to the members of Semperian Senior Funding plc .......................................	9
Profit and Loss Account for the year ended 31 March 2026 ...............................................................................	13
Statement of changes in equity ......................................................................................................................................	14
Statement of financial position .......................................................................................................................................	15
Notes to the financial statements ..................................................................................................................................	16

Semperian Senior Funding Plc

Company number: 06404763

_______________________________________________________________________________________

Company information

Directors

CSC Directors (No.3) Limited

CSC Directors (No.4) Limited

Paivi Helena Whitaker

Company secretary and registered office

CSC Corporate Services (London) Limited

5 Churchill Place

10th Floor

London

E14 5HU

Company number

06404763

(England and Wales)

Banker

Bank of Scotland plc

155 Bishopsgate

London

EC2M 3YB

Independent auditors

PricewaterhouseCoopers LLP

Chartered Accountants & Statutory Auditor

2 Glass Wharf

Temple Quay

Bristol

BS2 0FR

United Kingdom

Semperian Senior Funding Plc

Company number: 06404763

_______________________________________________________________________________________

Strategic report for the year ended 31 March 2026

The directors present the strategic report of Semperian Senior Funding Plc (the “Company”) for the year

ended 31 March 2026.

Principal activities, business review and future developments

The Company was established as a special purpose company to raise funds by the issue of secured floating

rate notes, secured deferrable floating rate notes and secured deferrable variable rate notes. On

7 December 2007 the Company issued £287,965,000 Class A secured floating rate notes, £15,520,000 Class

C secured deferrable floating rate notes, £41,385,000 Class D secured deferrable floating rate notes and

£18,165,000 Class Z secured deferrable variable rate notes, all due June 2050 (together the “Notes”). The

proceeds were applied to acquire loans relating to private finance initiative projects (the “Loans”) totalling

£344,867,167. Of this amount £319,912,167 was senior debt, secured by first charges over the assets of

the borrowers; the balance of £24,955,000 was subordinated debt, secured by the assets of the borrower.

The proceeds from the Z notes were used to set up a reserve fund of £2,000,000 and to pay upfront costs of

£16,165,000.

The directors do not anticipate any changes to the present level of activity, or the nature of, the Company’s

business in the near future.

Results

The Company’s profit and loss account is set out on page 13 and reflects a profit for the financial year of

£241,485 (2025: £522,867).

The directors recognise that the implementation of the Company’s accounting policies, as set out in the notes

to the financial statements, in respect of derivatives, may result in volatility in the profit and loss account

with a consequent impact on the Company’s balance sheet. This is evident in the balance sheet where there

is a net asset position of net asset position is £3,983,540 (2025: asset position of £3,742,055). Such

contracts have been put in place to hedge the Company’s exposure to interest rate and basis rate risks and

to ensure a level of certainty surrounding cash flows. The directors do not consider that the use of such

accounting policies will affect the long-term commercial integrity of the Company or its expected

performance.

Key performance indicators, principal risks and uncertainties.

The profit for the financial year to 31 March 2026 of £241,485 (2025:£522,867) was principally attributable

to the movement in fair value of derivatives.

The Company’s investment in Loans decreased to £40,162,279 as at 31 March 2026 from £55,389,902 at the

start of the year due to the net effect of early redemption options availed by the underlying borrowers,

scheduled amortisation and accruals.

At the year end the balance of Notes outstanding (not including Z Notes) amounted to £43,875,395 (2025:

£58,875,885) (see Note 11 ).

There were no impairment losses accounted for in the profit and loss account income during the current year

(2025: £nil). The principal risks and uncertainties faced by the Company are reviewed below under Financial

Instruments.

Economic Uncertainties

The key future developments which the directors expect to have the greatest impact on the performance of

the Company are macroeconomic.

The key future developments which the directors expect to have the greatest impact on the Company, due to

their impact on the performance of the Mortgage Loan (in particular, future cash flows and default rates),

relate to pressures resulting from uncertainty and changes in the macroeconomic environment.

Semperian Senior Funding Plc

Company number: 06404763

_______________________________________________________________________________________

Strategic report for the year ended 31 March 2026 (continued)

Economic Uncertainties (continued)

The UK has faced significant economic uncertainty in recent years. As of January 2026, the Consumer Price

Index (CPI) inflation rate, as reported by the Office for National Statistics (ONS), is 3.0%. Although it has

reduced significantly since 2022 and 2023, it is still higher than the government's long-term target of 2.00%.

To mitigate the risk of inflationary spikes, the Bank of England has implemented further cuts reducing its

base rate to 3.75% as of March 2026.

Additionally, the increase in employers’ National Insurance contributions from April 2025 has raised labour

costs for businesses, potentially placing upward pressure on unemployment. Furthermore, the US

administration’s decision to impose worldwide tariffs, alongside heightened geopolitical tensions (including

conflicts in the Middle East, the Russia-Ukraine war, reported US military actions and threats in Latin

America, and policy positions regarding Greenland) could disrupt global supply chains and financial markets,

thereby further compounding existing economic challenges.

These factors collectively elevate the risk that borrowers may struggle to make payments due to rising

inflation, declining income levels, or higher unemployment. While the full extent and duration of these

macroeconomic uncertainties remain unclear, there is a potential risk of financial instability within the

Company. However, as at the year-end, there has been no material impact from these macroeconomic

factors on the Company’s financial performance or cash flows.

As the Notes are a limited recourse obligation of the Company, the Company is not ultimately exposed if the

Borrowers are unable to repay the Loans.

The Company will continue to monitor the effect these macroeconomic factors have on Borrower’s ability to

service their Loans and on UK property prices, and therefore the performance of the Company.

Financial Instruments

The Company’s operations are financed primarily by means of the Notes. The Company issued such financial

instruments to finance the acquisition of the Loans. The Company uses derivative financial instruments

(interest rate swaps, basis swaps and interest rate caps) to manage the interest rate risks arising from the

Company’s sources of income (Loans) and its sources of finance (Notes). It is not the Company’s policy to

trade in financial instruments.

The primary risks arising from the Company’s financial instruments are credit risk, liquidity risk and interest

rate risk. The principal nature of such risks is summarised below.

Credit risk

Credit risk reflects the risk that the Company’s counterparties will not meet their obligations as they fall due.

The Company’s principal business objective rests on the provision of Loans to private finance initiative

projects. The Company considered the evaluation of the borrowers’ ability to service the Loans according to

their terms to be the principal factor in assessing the credit risk.

No impairment losses have been recognised against the Loans as at 31 March 2026 (2025 £nil).

Liquidity risk

Liquidity risk reflects the risk that the Company will encounter difficulty in raising funds to meet

commitments associated with its financial instruments, should the actual cash flows from its assets differ

from those expected.

The Company’s assets (Loans) are financed principally by the issuance of the Notes. The financing policy

substantially reduces the Company’s liquidity risk by matching the maturity profile of the Company’s funding

to the profile of the assets being funded.

The Notes are subject to mandatory redemption in part on each interest payment date in an amount equal to

the principal received or recovered in respect of Loans.

If not otherwise redeemed or purchased and cancelled, the Notes will be redeemed at their principal amounts

outstanding on the interest payment date falling in June 2050.

Semperian Senior Funding Plc

Company number: 06404763

_______________________________________________________________________________________

Strategic report for the year ended 31 March 2026 (continued)

Interest rate risk

Interest rate risk exists where interest rates on assets and liabilities are either set according to different basis

or reset at different times. The Company minimises its exposure to interest rate risk by ensuring that the

interest rate characteristics of its assets and liabilities are similar; and, where this is not possible, using

derivative financial instruments to mitigate any residual interest rate risk.

At the year end the Company was party to basis swaps and an interest rate swap to hedge against interest

rate risk arising from the resetting of interest rates of assets and liabilities on different basis.

The Company is exposed to Sterling Overnight Index Average (“SONIA”) in its floating rate loans, senior debt

and basis and interest rate swap contracts.

Capital management

The Company considers its capital to comprise its ordinary share capital and its accumulated losses. There

have been no changes in what the Company considers to be its capital since the previous year.

The Company is not subject to any external capital requirements, except for the minimum requirement under

the Companies Act 2006. The Company has not breached this minimum requirement.

Section 172 statement

Section 172(1) of Companies Act 2006 requires the directors of the Company to act in the way they consider,

in good faith, would be most likely to promote the success of the company for the benefit of its members as

a whole, and in doing so have regard (amongst other matters) to:

-the likely consequences of any decision in the long term,

-the interests of the company's employees,

-the need to foster the company's business relationships with suppliers, customers and

others,

-the impact of the company's operations on the community and the environment,

-the desirability of the company maintaining a reputation for high standards of business

conduct, and

-the need to act fairly as between members of the company

As a special purpose vehicle, the governance structure of the Company is such that the key policies have

been predetermined at the time of issuance. The directors have had regards to the matters set out in section

172(1) of Companies Act 2006 as follows:

Semperian Senior Funding Plc

Company number: 06404763

_______________________________________________________________________________________

Strategic report for the year ended 31 March 2026 (continued)

Section 172 statement (continued)

With reference to the likely consequences of any decision in the long term, the Transaction Documents have

been formulated to achieve the Company’s purpose and business objectives, safeguard the assets and

promote the success of the Company with a long term view and as disclosed in Note 1 in accordance with

relevant securitisation legislation.

The matters set out in subsections (b)–(f) have limited or no relevance to the Company for the following

reasons:

-The Company has no employees;

-The Company has appointed various professional third parties to perform certain roles

-governed by the Transaction Documents;

-As a special purpose vehicle, the Company has no physical presence or operations and

accordingly has minimal impact on the community and the environment; and

-The Company has a sole member with the issued shares all held on a discretionary trust

basis for charitable purposes.

On behalf of the Board

Raheel Khan

per pro CSC Directors (No.3) Limited

As Director

18 August 2026

Semperian Senior Funding Plc

Company number: 06404763

_______________________________________________________________________________________

Directors’ report for the year ended 31 March 2026

The directors present their annual report together with the audited financial statements of the Company for

the year ended 31 March 2026.

Going concern

In order to form a view as to the most appropriate basis of preparation of these financial statements, the

directors have assessed the likelihood of whether the Company will be able to continue trading over the

foreseeable future versus the likelihood of either intending to or being forced to either cease trading or to

place the Company into liquidation.

The Company is obliged to redeem the Notes at their principal amount outstanding upon maturity. However,

due to the limited nature of the Notes, the Company’s ability to pay amounts due on the Notes are, in

substance, limited to the application of the receipts from the Loans under the terms of the priority of

payments as set out in the terms and conditions of the Notes.

The credit enhancement built within the transaction, which includes the general reserve fund of £2,000,000

provides an extra buffer against any going concern issues in the near future.

It is the intention of the directors for the Company to continue operations until such a time as the amounts

due from the Loans have been fully realised. Ultimately, due to the limited recourse nature of the Notes, any

shortfall in the proceeds of the Loans will be a risk to the holders of the Notes.

The company’s principal activity is lending to private finance initiative projects.

There is expected to be no significant overall impact on performance over the life of the projects.

Having considered the above matters, the directors consider that the Company is able to meet its liabilities

as they fall due, and accordingly, the financial statements have been prepared on a going concern basis.

Financial risk management and future developments

Information regarding the financial risk management policies, the principal risks and uncertainties facing the

Company and future developments are included in the Strategic report.

Corporate governance

The directors have been charged with governance in accordance with the transaction documents describing

the structure and operation of the transaction. The governance structure of the Company is such that the key

policies have been predetermined at the time of issuance and the operational roles have been assigned to

third parties with their roles strictly governed by the transaction documents.

The transaction documents provide for procedures that have been designed for safeguarding assets against

unauthorised use or disposition, for maintaining proper accounting records, and for the reliability and

usefulness of financial information used within the business or for publication. Such procedures are designed

to manage rather than eliminate the risk of failure to achieve business objectives whilst enabling them to

comply with the regulatory obligations.

Issue of shares

The issued share capital consists of 50,000 ordinary shares of £1 each with 49,998 ordinary shares being

quarter paid and 2 ordinary shares being fully paid.

Directors

The directors of the Company who were in office during the year and up to the date of signing the financial

statements were:

CSC Directors (No.3) Limited

CSC Directors (No.4) Limited

Paivi Helena Whitaker

Semperian Senior Funding Plc

Company number: 06404763

_______________________________________________________________________________________

Directors’ report for the year ended 31 March 2026 (continued)

Directors (continued)

None of the directors have any beneficial interest in the ordinary share capital of the Company (2025: none).

None of the directors had any interest during the year in any material contract or arrangement with the

Company (2025: none).

Dividends

The directors do not recommend the payment of a dividend (2025: £nil).

Third party indemnities

Qualifying third party indemnity provisions for the benefit of the directors were in force during the year under

review and remain in force as at the date of approval of the annual report and financial statements.

Company secretary

CSC Corporate Services (London) Limited served as the company secretary during the year, and

subsequently.

On behalf of the Board

Raheel Khan

per pro CSC Directors (No.3) Limited

As Director

18 August 2026

Semperian Senior Funding Plc

Company number: 06404763

_______________________________________________________________________________________

Statement of directors’ responsibilities in respect of the financial statements

The directors are responsible for preparing the Annual report and the financial statements in accordance with

applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial period. Under that law

the directors have prepared the financial statements in accordance with United Kingdom Generally Accepted

Accounting Practice (United Kingdom Accounting Standards, comprising FRS 102 “The Financial Reporting

Standard applicable in the UK and Republic of Ireland”), and applicable law.

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 of the Company and of the profit or loss of the Company

for that period. In preparing these financial statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;

• state whether applicable United Kingdom Accounting Standards, comprising FRS 102, have been

followed, subject to any material departures disclosed and explained in the financial statements;

• make judgements and estimates that are reasonable and prudent; and

• 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 safeguarding the assets of the Company and hence for taking reasonable

steps for the prevention and detection of fraud and other irregularities.

The directors are also 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 enable them to ensure that the financial statements comply with the Companies Act

2006.

Directors’ confirmations

The directors confirm that:

a) so far as the directors are aware, there is no relevant information of which the Company’s auditors

are unaware; and

b) each director has 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 auditors are

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.

Independent Auditors

The auditors, PricewaterhouseCoopers LLP, have expressed their willingness to continue in office until the

next annual general meeting. Pursuant to section 489 of the Companies Act 2006, a resolution to re-appoint

PricewaterhouseCoopers LLP will be proposed at the forthcoming annual general meeting of the Company.

On behalf of the Board

Raheel Khan

per pro CSC Directors (No.3) Limited

As Director

18 August 2026

Semperian Senior Funding Plc

Company number: 06404763

Independent auditors report to the members of Semperian Senior Funding plc

Opinion

In our opinion, Semperian Senior Funding plc’s financial statements:

• give a true and fair view of the state of the company's affairs as at 31 March 2026 and of its profit for

the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice

(United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in

the UK and Republic of Ireland", and applicable law); and

• have been prepared in accordance with the requirements of the Companies Act 2006.

We have audited the financial statements, included within the Annual Report and Financial Statements (the

"Annual Report"), which comprise:

• the Balance Sheet as at 31 March 2026;

• the Profit and Loss Account for the year then ended;

• the Statement of Changes in Equity for the year then ended; and

• the notes to the financial statements which include a description of the significant accounting policies.

Basis For Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) ("ISAs (UK)") and

applicable law. Our responsibilities under ISAs (UK) are further described in the Auditors’ responsibilities for

the audit of the financial statements section of our report. We believe that the audit evidence we have

obtained is sufficient and appropriate to provide a basis for our opinion.

Independence

We remained independent of the company in accordance with the ethical requirements that are relevant to

our audit of the financial statements in the UK, which includes the FRC’s Ethical Standard, and we have

fulfilled our other ethical responsibilities in accordance with these requirements.

Conclusions Relating To Going Concern

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.

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.

However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as

to the company's ability to continue as a going concern.

Semperian Senior Funding Plc

Company number: 06404763

_______________________________________________________________________________________

Independent auditors report to the members of Semperian Senior Funding plc

(continued)

Conclusions Relating To Going Concern (continued)

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the

relevant sections of this report.

Reporting On Other Information

The other information comprises all of the information in the Annual Report other than the financial

statements and our auditors’ report thereon. The directors are responsible for the other information. Our

opinion on the financial statements does not cover the other information and, accordingly, we do not express

an audit opinion or, except to the extent otherwise explicitly stated in this report, any form of assurance

thereon.

In connection with our audit of the financial statements, 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 an apparent material inconsistency or material misstatement, we are required to perform procedures

to conclude whether there is a material misstatement of the financial statements or a material misstatement

of the other information. 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 based

on these responsibilities.

With respect to the Strategic report and Directors' Report, we also considered whether the disclosures

required by the Companies Act 2006 have been included.

Based on our work undertaken in the course of the audit, the Companies Act 2006 requires us also to report

certain opinions and matters as described below.

Strategic Report And Directors' Report

In our opinion, based on the work undertaken in the course of the audit, the information given in the

Strategic report and Directors' Report for the year ended 31 March 2026 is consistent with the financial

statements and has been prepared in accordance with applicable legal requirements.

In light of the knowledge and understanding of the company and its environment obtained in the course of

the audit, we did not identify any material misstatements in the Strategic report and Directors' Report.

Responsibilities For The Financial Statements And The Audit

Responsibilities Of The Directors For The Financial Statements

As explained more fully in the Statement of Directors' Responsibilities, the directors are responsible for the

preparation of the financial statements in accordance with the applicable framework and for being satisfied

that they give a true and fair view. The directors are also responsible for such internal control as they

determine is necessary to enable the preparation of financial statements that are free from material

misstatement, whether due to fraud or error.

Semperian Senior Funding Plc

Company number: 06404763

_______________________________________________________________________________________

Independent auditors report to the members of Semperian Senior Funding plc

(continued)

Responsibilities Of The Directors For The Financial Statements (continued)

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.

Auditors’ 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 auditors’ 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. We design

procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of

irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities,

including fraud, is detailed below.

Based on our understanding of the company and industry, we identified that the principal risks of non-

compliance with laws and regulations related to UK corporation tax legislation and the Companies Act 2006,

and we considered the extent to which non-compliance might have a material effect on the financial

statements. We evaluated management’s incentives and opportunities for fraudulent manipulation of the

financial statements (including the risk of override of controls), and determined that the principal risks were

related to posting inappropriate journal entries and management bias in accounting estimates. Audit

procedures performed by the engagement team included:

• Discussions with management and internal audit to enquire of any known instances of non-compliance

with Laws and Regulations and Fraud;

• Reading board minutes for evidence of breaches of regulations and reading relevant correspondence;

• Challenging assumptions and judgements made by management in their significant accounting estimates;

• Identifying and testing journal entries, in particular journal entries posted with unexpected account

combinations; and

• Incorporating unpredictability into the nature, timing and/or extent of our testing.

Semperian Senior Funding Plc

Company number: 06404763

_______________________________________________________________________________________

Independent auditors report to the members of Semperian Senior Funding plc

(continued)

Auditors’ Responsibilities For The Audit Of The Financial Statements (continued)

There are inherent limitations in the audit procedures described above. We are less likely to become aware of

instances of non-compliance with laws and regulations that are not closely related to events and transactions

reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is

higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment

by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the FRC’s

website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors’ report.

Use Of This Report

This report, including the opinions, has been prepared for and only for the company's members as a body in

accordance with Chapter 3 of Part 16 of the Companies Act 2006 and for no other purpose. We do not, in

giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom

this report is shown or into whose hands it may come save where expressly agreed by our prior consent in

writing.

Other Required Reporting

Companies Act 2006 Exception Reporting

Under the Companies Act 2006 we are required to report to you if, in our opinion:

• we have not obtained all the information and explanations we require for our audit; or

• adequate accounting records have not been kept by the company or returns adequate for our audit have

not been received from branches not visited by us; or

• the company's financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of directors' remuneration specified by law are not made.

We have no exceptions to report arising from this responsibility.

Matthew Walker (Senior Statutory Auditor)

for and on behalf of PricewaterhouseCoopers LLP

Chartered Accountants and Statutory Auditors

Bristol

18 August 2026

Semperian Senior Funding Plc

Company number: 06404763

_______________________________________________________________________________________

Profit and Loss Account for the year ended 31 March 2026


		Year ended 31 March 2026	Year ended 31 March 2025
	Note	£	£
Administrative expenses		(254,070)	(251,555)
Other operating income	5	644,106	1,080,647
Operating profit		390,036	829,092

Interest receivable and similar income	2	2,749,531	4,083,906
Interest payable and similar expenses	3	(3,139,356)	(4,912,726)
Net interest expense		(389,825)	(828,820)


Movement in fair value of derivative financial instruments	4	241,327	522,663
Profit before taxation		241,538	522,935

Tax on profit	8	(53)	(68)

Profit for the financial year		241,485	522,867

All amounts relate to continuing activities.

The Company has no other comprehensive income for the year other than the profit for the financial year

stated above.

The accompanying notes on pages 16 to 24 are an integral part of these financial statements.

Semperian Senior Funding Plc

Company number: 06404763

_______________________________________________________________________________________

Statement of changes in equity for the year ended 31 March 2026


	Called up share capital	Profit and loss account	Total shareholders' funds
	£	£	£
Balance as at 1 April 2024	12,502	3,206,686	3,219,188
Profit for the year	—	522,867	522,867

Balance as at 31 March 2025	12,502	3,729,553	3,742,055

Profit for the year	—	241,485	241,485
Balance as at 31 March 2026	12,502	3,971,038	3,983,540

The accompanying notes on pages 16 to 24 are an integral part of these financial statements.

Semperian Senior Funding Plc

Company number: 06404763

_______________________________________________________________________________________

Statement of financial position as at 31 March 2026


		31 March	31 March
		2026	2025

	Note	£	£
Fixed assets
Loans	9	26,448,937	40,389,407

Current assets
Derivatives measured at fair value	4	3,960,601	3,719,274
Debtors: Amount falling due within one years	10	13,719,387	15,021,429
Cash at bank and in hand		1,495,145	1,864,948

		19,175,133	20,605,651

Creditors: amounts falling due within one year	11	(13,583,938)	(15,891,218)
Net current assets		5,591,195	4,714,433

Total assets less current liabilities		32,040,132	45,103,840

Creditors: amounts falling due after more than one year	11	(28,056,592)	(41,361,785)
Net assets		3,983,540	3,742,055

Capital and reserves
Called up share capital	12	12,502	12,502
Profit and loss account	13	3,971,038	3,729,553
Total shareholders' funds		3,983,540	3,742,055

The accompanying notes on pages 16 to 24 are an integral part of these financial statements.

The financial statements on pages 13 to 24 were approved and authorised for issue by the Board on

18 August 2026, and were signed on its behalf by:

Raheel Khan

per pro CSC Directors (No.3) Limited

As Director

18 August 2026

Semperian Senior Funding Plc

Company number: 06404763

_______________________________________________________________________________________

Notes to the financial statements for the year ended 31 March 2026

1. Accounting policies

General information

Semperian Senior Funding Plc (the “Company”) is a public company, limited by shares, incorporated and

domiciled in the United Kingdom and registered in England and Wales. The address of its registered office is

5 Churchill Place, 10th Floor, London, E14 5HU.

Basis of preparation

The financial statements have been prepared under the historic cost convention modified by revaluation of

financial assets and financial liabilities held at fair value through profit and loss, and in compliance with

United Kingdom Accounting Standards, including Financial Reporting Standard 102, ‘The Financial Reporting

Standard applicable in the United Kingdom and the Republic of Ireland’ (‘FRS 102’) and the Companies Act

2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical

accounting estimates. It also requires management to exercise judgement in applying the Company's

accounting policies. In accordance with Section 11 of FRS 102, the provisions of IAS 39 have been applied

consistently with respect to the recognition and measurement of financial instruments.

The Directors have adjusted the format of the profit and loss account as allowed under Companies Act 2006.

In the opinion of the Directors, net interest income is a more appropriate measure of the Company's

performance than turnover and cost of sales.