Poncle Development Ltd

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2—4

1. General Information

Poncle Development Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 15744057 . The registered office is 71 Queen Victoria Street, London, EC4V 4BE.

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

The director has decided that the company will cease its activities and proceed with an application for voluntary dissolution. Accordingly, the director considers that the going concern basis of accounting is no longer appropriate and the financial statements have not been prepared on a going concern basis.

The director has considered the effect of the proposed dissolution on the company's assets and liabilities in determining the appropriate basis of preparation. Any assets remaining in the company at the date of dissolution are expected to be distributed to the company's parent company, subject to the settlement of the company's liabilities and the applicable legal requirements.

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. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.5. 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.

...CONTINUED

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Poncle Development Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

2.5. Taxation - continued

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.

2.6. Comparative accounting period

The prior period comparative figures relate to the period 26 May 2024 to 31 January 2025. The period end was shortened to align with the reporting period of the group.The current period figures are for the 12 month period ended 31 January 2026.

3. Average Number of Employees

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

4. Debtors

	2026	2025
	£	£
Due within one year
VAT recoverable	-	18
Amounts owed by group undertakings	-	58,078

	-	58,096

5. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Other creditors	24,979	125,074
Amounts owed to group undertakings	84,977	-

	109,956	125,074

6. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	1	1

100 Ordinary shares in issue with a nominal value of £0.01 each

7. Related Party Transactions

The company has taken advantage of the 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 entities within the group. There are no other related party transactions with the director or entities under common control, that require disclosure.

8. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is Poncle Limited . Poncle Limited was incorporated in England and Wales, registered company number 13843258. Copies of the group accounts may be obtained from 71 Queen Victoria Street, London, EC4V 4BE . The group is under the sole control of Luca Galante by virtue of his 100% shareholding.

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Poncle Development Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

9. Audit Information

The auditor's report on the accounts of Poncle Development Ltd for the year ended 31 January 2026 was unqualified.

The auditor's report was signed by Isla MacGillivray (Senior Statutory Auditor) for and on behalf of Saffery Audit (UK) LLP , Statutory Auditor.

Saffery Audit (UK) LLP

71 Queen Victoria Street

London

EC4V 4BE

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		2026		2025
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	4	-		58,096
Cash at bank and in hand		109,957		66,979

		109,957		125,075
Creditors: Amounts Falling Due Within One Year	5	(109,956 )		(125,074 )

NET CURRENT ASSETS (LIABILITIES)			1		1

TOTAL ASSETS LESS CURRENT LIABILITIES			1		1

NET ASSETS			1		1

CAPITAL AND RESERVES
Called up share capital	6		1		1

SHAREHOLDERS' FUNDS			1		1