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Registered number: 13508465
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FOR THE YEAR ENDED
31 DECEMBER 2025
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PINE II HOLDINGS LIMITED
REGISTERED NUMBER:13508465
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STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 April 2026.
The notes on pages 2 to 6 form part of these financial statements.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3rd Floor, 10 Rose & Crown Yard, King Street, London, SW1Y 6RE.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis.
Income represents the interest receivable on the loans to subsidiary companies and is recognised on a receivable basis and is disclosed as interest receivable in the financial statements.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Loan arrangement fees are originally recognised as a deduction from the carrying amount of the loan note and are then amortised over the loan note term using the effective interest method by recognising the charge through the profit or loss
Fixed asset investments, which represents investments in subsidiaries, are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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The directors have concluded that the preparation of these financial statements did not require any significant judgements or key sources of estimation uncertainty.
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There are no staff within the company. Nexus Pine (Management) Limited has been engaged to perform the day to day work for Pine II Holdings Limited.
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The average monthly number of employees during the year was 0 (2024 - 0).
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Waiver of intercompany loans with subsidiary undertaking
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Investments in subsidiary companies
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The investments represent 100% shareholders in Pine Properties I Limited, Pine Properties II Limited, Pine Properties III Limited, Pine Properties IV, Pine Properties V and Pine Properties VI. All companies are property investment companies and are incorporated in England.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Amounts owed by group undertakings
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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As at the year end the Company had in issue £11,634,000 (2024: £11,934,000) unsecured loan note, listed on The International Stock Exchange, maturing on 30 November 2029. The coupon rate is at 6% and is paid annually. The loan note will be repaid on the maturity date.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Amounts falling due 2-5 years
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Profit and loss account
This reserve records retained earnings and accumulated losses.
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Related party transactions
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Pine II Holdings Limited was owed £4,867,283 (2024: £4,914,234 from Pine Properties I Limited as at the year end. During the year, £Nil (2024: £1,500,000) of the intercompany loan with Pine Properties I Limited, the subsidiary, was waived.
Pine II Holdings Limited was owed £6,205,603 (2024: £6,448,042) from Pine Properties II Limited as at the year end. During the year, £Nil (2024: £3,000,000) of the intercompany loan with Pine Properties II Limited, the subsidiary, was waived.
Pine II Holdings Limited was owed £5,910,794 (2024: £4,406,436) from Pine Properties III Limited as at the year end.
Pine II Holdings Limited was owed £1,121,142 (2024: £Nil) from Pine Properties IV Limited as at the year end.
Pine II Holdings Limited was owed £354,348 (2024: £Nil) from Pine Properties V Limited as at the year end.
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The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.
The audit report was signed on 1 May 2026 by Caroline Monk BA FCA (Senior statutory auditor) on behalf of Menzies LLP.
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