REGISTERED NUMBER: 07475318 (England and Wales)

HARLEQUIN ESTATES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

Chartered Accountants' Report

8

DIRECTOR:

P I Parkhouse

SECRETARY:

Kerry Secretarial Services Limited

REGISTERED OFFICE:

Lacemaker House

5-7 Chapel Street

Marlow

Bucks

SL7 3HN

REGISTERED NUMBER:

07475318 (England and Wales)

ACCOUNTANTS:

Cox Costello & Horne

Chartered Accountants and Tax Advisors

7 St John's Road

Harrow

HA1 2EY

FIXED ASSETS

Tangible assets

4

1,162,858

1,629,041

Investments

5

399,000

399,000

1,561,858

2,028,041

CURRENT ASSETS

Debtors

6

1,613,252

1,608,225

Cash and cash equivalents

320

15,901

1,613,572

1,624,126

CREDITORS

Amounts falling due within one year

7

195,375

170,615

NET CURRENT ASSETS

1,418,197

1,453,511

TOTAL ASSETS LESS CURRENT LIABILITIES

2,980,055

3,481,552

CREDITORS

Amounts falling due after more than one year

8

(1,564,442

)

(1,622,856

)

PROVISIONS FOR LIABILITIES

(868

)

(868

)

NET ASSETS

1,414,745

1,857,828

CAPITAL AND RESERVES

Called up share capital

100,000

100,000

Retained earnings

1,314,745

1,757,828

SHAREHOLDERS' FUNDS

1,414,745

1,857,828

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 September 2026 and were signed by:

P I Parkhouse - Director

1.	STATUTORY INFORMATION

Harlequin Estates 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.

Going concern

The company meets its day-to-day working capital requirements through its bank & loan facilities and support from group companies. After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Preparation of consolidated financial statements

The financial statements contain information about Harlequin Estates Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied. Turnover includes rental income and service and management charges from properties. Turnover is measured as the fair value of the consideration received or receivable.

Rental income from operating leases is recognised on a straight-line basis over the lease term. When the company provides incentives to its tenants, the cost of incentives is recognised over the lease term, on a straight-line basis, as a reduction of rental income.

Service and management charges are recognised in the accounting period in which the services are rendered.

The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

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

Land and buildings

-

at varying rates on cost

Plant and machinery etc

-

10% on cost

All assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation. The cost of an asset initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

a) Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

b) Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

c) Cash at bank and in hand

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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.

d) Interest income

Interest income is recognised in profit or loss using the effective interest method.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

-

the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

-

any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs

The company makes contributes into the personal retirement schemes of certain staff. Contributions by the company and staff are determined by mutual agreement.

In the aforementioned schemes, staff contract directly with the pension company, and assets of those schemes are held separately from those of the company. The company acts as agent in collecting and paying over staff pension contributions. Once the contributions have been paid, the company as employer has no further obligations.

The company's contributions are charged to the profit and loss account in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 April 2025

1,750,000

9,800

1,759,800

Impairments

(590,000

)

-

(590,000

)

At 31 March 2026

1,160,000

9,800

1,169,800

DEPRECIATION

At 1 April 2025

126,267

4,492

130,759

Charge for year

-

2,450

2,450

Revaluation adjustments

(126,267

)

-

(126,267

)

At 31 March 2026

-

6,942

6,942

NET BOOK VALUE

At 31 March 2026

1,160,000

2,858

1,162,858

At 31 March 2025

1,623,733

5,308

1,629,041

Included in cost or valuation of land and buildings is freehold land of £ 1,250,000 (2025 - £ 1,250,000 ) which is not depreciated.

Cost or valuation at 31 March 2026 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2020

705,000

-

705,000

Valuation in 2024

(705,000

)

-

(705,000

)

Cost

1,160,000

9,800

1,169,800

1,160,000

9,800

1,169,800

5.	FIXED ASSET INVESTMENTS

Interest in

other

participating

interests

£

COST

At 1 April 2025

and 31 March 2026

399,000

NET BOOK VALUE

At 31 March 2026

399,000

At 31 March 2025

399,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Amounts owed by group undertaking

839,172

854,914

Amounts owed by participating interests

599,634

742,616

Other debtors

174,446

10,695

1,613,252

1,608,225

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade creditors

78,739

87,753

Amounts owed to participating interests

15,690

-

Taxation and social security

87,949

68,499

Other creditors

12,997

14,363

195,375

170,615

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Bank loan

527,702

638,970

Other creditors

1,036,740

983,886

1,564,442

1,622,856

Amounts falling due in more than five years:

Repayable by instalments

Bank loan - Mortgage

524,567

625,637

Bounce Back Loan

3,135

13,333

527,702

638,970

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.26

31.3.25

£

£

Bank Loan - Mortgage

-

649,865

Lloyds Bank Plc hold a legal charge over the freehold property known as Lacemaker House, 5-7 Chapel Street Marlow.

10.	RELATED PARTY DISCLOSURES

During the year the group traded with companies where the directors have a common interest as shareholders and directors. These transactions, undertaken on normal commercial terms, are as follows:

Company

Balance

Balance

31/03/2026

31/03/2025

Dr/(Cr)

Dr/(Cr)

£

£

Harlequin New Homes Group

599,634

742,616

Paulliac Capital

(15,690

)

Jester Associates

839,172

854,914

In addition funds have been lent interest free for cash flow purposes.

As disclosed in Note 5, as part of the demerger process, outstanding intercompany balances between the Group and the demerged entities were assessed and were written off or eliminated where appropriate.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Jester Associates LLP.

The ultimate controlling party is P I Parkhouse.

Following the demerger completed on 31 August 2024, the Group underwent a change in ownership and control structure.

As at the balance sheet date, Mr P I Parkhouse, the director of the Company, considered to be the ultimate controlling party of the Company.

12.	DEMERGER AND LOSS OF CONTROL OVER SUBSIDIARIES

On 31 August 2024, Harlequin Estates Limited underwent a demerger, resulting in the loss of several key subsidiaries. These subsidiaries included Harlequin Brickwork Limited, Harlequin Scaffolding Solutions Limited and Harlequin Construction Solutions Limited which had been contributing significant financial metrics like revenue, assets etc. Harlequin Estates Limited no longer has control over these entities following the completion of the demerger.

Harlequin Estates Limited retains no equity interests in the demerged entities post transaction.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Harlequin Estates Limited for the year ended 31 March 2026 which comprise the Profit and loss account, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Harlequin Estates Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Harlequin Estates Limited and state those matters that we have agreed to state to the director of Harlequin Estates Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Harlequin Estates Limited and its director for our work or for this report.

It is your duty to ensure that Harlequin Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Harlequin Estates Limited. You consider that Harlequin Estates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Harlequin Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cox Costello & Horne

Chartered Accountants and Tax Advisors

7 St John's Road

Harrow

HA1 2EY

18 September 2026