REGISTERED NUMBER: 14498055 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

WPC21 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J D Weight

REGISTERED OFFICE:

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

REGISTERED NUMBER:

14498055 (England and Wales)

INDEPENDENT AUDITORS:

Lewis Brownlee (Chichester) Limited

Statutory Auditors

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

FIXED ASSETS

Investments

4

3,617,705

-

CURRENT ASSETS

Debtors

5

9,918

-

Cash in hand

3,976

-

13,894

-

CREDITORS

Amounts falling due within one year

6

3,870,362

173

NET CURRENT LIABILITIES

(3,856,468

)

(173

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(238,763

)

(173

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(238,764

)

(174

)

(238,763

)

(173

)

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 22 September 2026 and were signed by:

J D Weight - Director

1.	STATUTORY INFORMATION

WPC21 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.

The presentational currency of the financial statements is Pound Sterling (£) which is rounded to the nearest Pound (£).

Going concern

The director has assessed that the company has adequate resources to continue in operational existence for a minimum of twelve months from the date of signing the financial statements. This is on the basis that support will be provided by other group companies and that this has been confirmed with a support letter. The company may require further investment and cash funding from other group companies in the future for which the director believes will be forthcoming. The director of the other group companies also confirms that the funding already provided to the company will not be called upon until the company is in a position to repay it.

The director therefore has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements. These financial statements do not reflect the adjustments to the carrying values of assets and liabilities and the reported expenses and balance sheet classifications that would be necessary if the company were unable to realise its assets and settle its liabilities as a going concern in the normal course of business. Such adjustments could be material.

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.

Investment income

Investment income represents dividend income from the investment portfolio and is recognised in the income statement when the shareholders' rights to receive the payment have been established.

Other operating income

Other operating income represents realised gains from the investment portfolio and is recognised in the income statement when the shareholders' rights to receive the payment have been established.

Fixed assets investments

Fixed asset investments are recognised and derecognised on the trade date where a purchase or sale of an investment is under a contract whose terms require delivery of the investment within the timeframe established by the relevant market.

Investments are initially recognised at transaction price, excluding transaction costs where these are expensed to profit or loss as incurred.

Subsequent to initial recognition, investments are measured at fair value at each reporting date, with changes in fair value recognised in profit or loss.

Fair value is the price that would be received to sell an asset in an orderly transaction between market participants at the reporting date.

Unlisted investments, including interests held in investment funds and other private investments, are valued using information obtained from investment managers, fund administrators, general partners or other independent third-party valuation reports. The directors consider these reports to represent the best available estimate of fair value where observable market prices are not available.

In determining fair value, the directors consider the valuation methodologies adopted by the investment managers together with any other available evidence relevant to the reporting date. Such methodologies may include net asset value calculations, discounted cash flow techniques, earnings multiples, recent market transactions or other valuation techniques that are consistent with the principles of fair value measurement.

Where fair value estimates are based on information provided by investment managers or fund administrators, the directors review the reasonableness of those valuations and make adjustments where they consider this necessary to reflect conditions existing at the reporting date.

Realised and unrealised gains and losses arising from changes in fair value are recognised within profit or loss in the period in which they arise.

Financial instruments

Financial instruments are classified by the director as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST OR VALUATION

Additions

3,961,986

Disposals

(37,138

)

Revaluations

(307,143

)

At 31 December 2025

3,617,705

NET BOOK VALUE

At 31 December 2025

3,617,705

Cost or valuation at 31 December 2025 is represented by:

Unlisted

investments

£

Valuation in 2025

(307,142

)

Cost

3,924,847

3,617,705

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

9,918

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

3,869,889

173

Taxation and social security

473

-

3,870,362

173

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

The Report of the Auditors was unqualified.

The prior year financial statements and therefore the corresponding figures, being the year ended 31 December 2024, were not audited.

Sam Ede BFP FCA FCCA (Senior Statutory Auditor)

for and on behalf of Lewis Brownlee (Chichester) Limited

8.	OTHER FINANCIAL COMMITMENTS

The company has committed to making further investments into funds up to £1.256m.

It is not known if and when these amounts will be payable and as such these amounts are not provided for in

the financial statements.