BBRC Homes SPV 2 Limited

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Accountant's Report	1
Balance Sheet	2—3
Notes to the Financial Statements	4—7

Chartered Accountant's report to the director on the preparation of the unaudited statutory accounts of BBRC Homes SPV 2 Limited for the year ended 31 March 2026

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of BBRC Homes SPV 2 Limited for the year ended 31 March 2026 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.

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

This report is made solely to the director of BBRC Homes SPV 2 Limited , as a body, in accordance with the terms of our engagement letter dated 01 August 2024. Our work has been undertaken solely to prepare for your approval the accounts of BBRC Homes SPV 2 Limited and state those matters that we have agreed to state to the director of BBRC Homes SPV 2 Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BBRC Homes SPV 2 Limited and its director, as a body, for our work or for this report.

It is your duty to ensure that BBRC Homes SPV 2 Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of BBRC Homes SPV 2 Limited . You consider that BBRC Homes SPV 2 Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of BBRC Homes SPV 2 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 financial statements.

Joshua Turner FCCA

04/09/2026

Godfrey Wilson Limited

2nd Floor South

One Castle Park

Tower Hill

Bristol

BS2 0JA

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BBRC Homes SPV 2 Limited

Balance Sheet

As At 31 March 2026

Balance Sheet

Registered number: 13547305

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		410,000		400,000

			410,000		400,000
CURRENT ASSETS
Stocks and Work in Progress	5	63,320		150,491
Debtors	6	356		1,342
Cash at bank and in hand		259		1,848

		63,935		153,681
Creditors: Amounts Falling Due Within One Year	7	(6,760 )		(13,000 )

NET CURRENT ASSETS (LIABILITIES)			57,175		140,681

TOTAL ASSETS LESS CURRENT LIABILITIES			467,175		540,681

Creditors: Amounts Falling Due After More Than One Year	8		(815,000 )		(810,719 )

NET LIABILITIES			(347,825 )		(270,038 )

CAPITAL AND RESERVES
Called up share capital	9		10		10
Profit and Loss Account			(347,835 )		(270,048 )

SHAREHOLDERS' FUNDS			(347,825)		(270,038)

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BBRC Homes SPV 2 Limited

Balance Sheet (continued)

As At 31 March 2026

For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Laura Barrow

Director

04/09/2026

The notes on pages 4 to 7 form part of these financial statements.

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BBRC Homes SPV 2 Limited

Notes to the Financial Statements

For The Year Ended 31 March 2026

Notes to the Financial Statements

1. General Information

BBRC Homes SPV 2 Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13547305 . The registered office is Desklodge House, 2 Redcliffe Way, Bristol, BS1 6NL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

After careful review of the company’s financial forecasts and giving due consideration to the working capital available to the company, the directors have a reasonable expectation that the company has adequate resources to continue in operation for at least twelve months from the date of approval of the financial statements and have therefore adopted the going concern basis in preparation of the financial statements.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.5. Stocks and Work in Progress

Stocks and work in progress relate to land held for development or sale and are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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BBRC Homes SPV 2 Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2025: NIL)

4. Investment Property

	2026
	£
Fair Value
As at 1 April 2025	400,000
Revaluations	10,000

As at 31 March 2026	410,000

5. Stocks and Work in Progress

	2026	2025
	£	£
Development plot - work in progress	63,320	150,491

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BBRC Homes SPV 2 Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	-	975
Prepayments and accrued income	346	357
Amounts owed by group undertakings	10	10

	356	1,342

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	133	119
Accruals	1,620	1,500
Amounts owed to group undertakings	5,007	11,381

	6,760	13,000

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Amounts owed to group undertakings	815,000	810,719

Included in creditors are the following loans:

An interest free unsecured loan from Bristol & Bath Regional Capital CIC (09672937) of £395,000 due to be repaid by 2028, or on the sale of the development plot held as stock if sooner.

An unsecured loan from Bristol & Bath Regional Capital CIC (09672937) of £420,007. Of which, £420,000 represents the original loan at an interest rate of 2% per annum, repayable at the end of the loan term in 2034, and £7 represents accrued interest payments.

9. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	10	10

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BBRC Homes SPV 2 Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

10. Related Party Transactions

Controlling party:

The company is 100% owned by Place Based Investments Limited (12471293), a company under the control of and 100% owned by Bristol & Bath Regional Capital CIC (09672937).

Laura Barrow is a director of the company, Bristol & Bath Regional Capital CIC and Place Based Investments Limited.

The company was under control of the directors throughout the period.

Transactions with related parties:

As at 31 March 2026 BBRC Homes SPV 2 Limited was owed £10 (2025: £10) by Place Based Investments Limited.

As at 31 March 2026 BBRC Homes SPV 2 Limited received £11,500 (2025: £nil) of unrestricted grants by Bristol & Bath Regional Capital CIC. During the period ending 31 March 2026 BBRC Homes SPV 2 Limited was charged £8,400 (2025: £8,400) in interest on loans by Bristol & Bath Regional Capital CIC.

As at 31 March 2026 BBRC Homes SPV 2 Limited owed £820,007 (2025: £822,100) to Bristol & Bath Regional Capital CIC. Of this £5,007 is repayable within one year and £815,000 after one year.

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