REGISTERED NUMBER: 13975352 (England and Wales)

Financial Statements for the Year Ended 31st December 2025

for

Colenko Secured Lending 1 Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr Robert Roscoe

REGISTERED OFFICE:

1 Lyric Square

London

London

W6 0NB

REGISTERED NUMBER:

13975352 (England and Wales)

SENIOR STATUTORY AUDITOR:

Matthew Dobbins FCA

AUDITORS:

Dunkley's,

Statutory Auditor

Chartered Certified Accountants

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

CURRENT ASSETS

Debtors

4

13,332,646

13,917,656

Cash at bank

56,722

69,185

13,389,368

13,986,841

CREDITORS

Amounts falling due within one year

5

8,203,579

9,548,060

NET CURRENT ASSETS

5,185,789

4,438,781

TOTAL ASSETS LESS CURRENT LIABILITIES

5,185,789

4,438,781

CREDITORS

Amounts falling due after more than one year

6

5,185,779

4,438,771

NET ASSETS

10

10

CAPITAL AND RESERVES

Called up share capital

8

10

10

SHAREHOLDERS' FUNDS

10

10

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 director and authorised for issue on 1st September 2026 and were signed by:

Mr Robert Roscoe - Director

1.	STATUTORY INFORMATION

Colenko Secured Lending 1 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.

The financial statements are presented in £ sterling, which is the company's functional and presentation currency.

The financial statements have been prepared on a going concern basis. The director has assessed the company's ability to continue as a going concern and is satisfied that it has adequate resources to continue in operational existence for the foreseeable future.

Related party exemption

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 with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

The director reviews the recoverability of loan investments at each reporting date. Whilst this assessment involves judgement, the director does not consider there to be any material estimation uncertainties that could result in a material adjustment to the carrying value of assets and liabilities within the next financial year.

Turnover

The company's turnover comprises interest income earned on its lending activities.

Interest income is recognised in profit or loss using the effective interest method and is accrued on a time-apportioned basis by reference to the principal outstanding and the applicable interest rate over the period to which the income relates.

Where interest is received in advance of the period to which it relates, the amount is recognised as deferred income and released to profit or loss over the relevant period. Interest earned but not yet received at the reporting date is recognised as accrued income within debtors.

Interest income is recognised only to the extent that it is probable that the economic benefits associated with the transaction will flow to the company and the amount can be measured reliably.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Basic financial assets, including loan investments, are initially recognised at transaction price and subsequently measured at amortised cost less any impairment.

Basic financial liabilities, including loans and loan notes, are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial assets are assessed for indicators of impairment at each reporting date

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash held at bank and are measured at amortised cost.

Parent undertaking

The immediate parent undertaking of the company is Colenko Ltd.

The ultimate parent undertaking and controlling party is Colenko Holdings Ltd.

The company is included within the consolidated financial statements of Colenko Holdings Ltd. Copies of the consolidated financial statements are available from the registered office of Colenko Holdings Ltd.

3.	EMPLOYEES AND DIRECTORS

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

4.

DEBTORS

31.12.25

31.12.24

£

£

Amounts falling due within one year:

Loan investments

13,332,646

13,652,718

Amounts falling due after more than one year:

Loan investments

-

264,938

Aggregate amounts

13,332,646

13,917,656

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Other loans

8,203,579

9,548,060

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Other loans - 2-5 years

5,185,779

4,438,771

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.25

31.12.24

£

£

Junior loan note

5,185,779

4,438,771

Block loan agreement

8,188,000

9,548,060

13,373,779

13,986,831

Junior loans are secured by a second ranking debenture over the assets of the business (the loans to property investor).

Block loans are secured by a first ranking debenture over the assets of the business (the loans to property investor).

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.25

31.12.24

value:

£

£

1,000

Ordinary

£0.01

10

10

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

The Report of the Auditors was unqualified.

Matthew Dobbins FCA (Senior Statutory Auditor)

for and on behalf of Dunkley's,

10.	CONTINGENT LIABILITIES

The company had no contingent liabilities at 31 December 2025 (2024: nil).

11.	RELATED PARTY DISCLOSURES

During the year, distributions of £32,729 (2024: £51,750) were paid to the wife of a director in respect of a junior loan note. The outstanding balance at the year end was £250,000 (2024: £350,000). The junior loan note participates in the residual profits of the SPV after costs and senior funding obligations have been met and is secured by way of a debenture. The loan note was entered into on normal commercial terms.The balance is repayable at maturity in 2028.

12.	POST BALANCE SHEET EVENTS

In January 2026, the company's loan arrangements were refinanced on substantially the same terms as the existing arrangements and the maturity date was extended to 2028. This event occurred after the reporting date and has not resulted in any adjustment to the amounts recognised in these financial statements.

Other than the matter described above, there have been no other events since 31 December 2025 requiring disclosure or adjustment in the financial statements.