REGISTERED NUMBER: 05024572 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

PRESSFIELD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Y Cohen

G Cohen

A Kohen

SECRETARY:

A Kohen

REGISTERED OFFICE:

50 Seymour Street

London

W1H 7JG

REGISTERED NUMBER:

05024572 (England and Wales)

ACCOUNTANTS:

Orcom Civvals Limited

Accountants

50 Seymour Street

London

W1H 7JG

FIXED ASSETS

Tangible assets

4

4,780,869

4,842,125

CURRENT ASSETS

Stocks

-

14,078

Debtors

5

2,206,843

2,209,242

Cash at bank

60,865

73,737

2,267,708

2,297,057

CREDITORS

Amounts falling due within one year

6

(2,987,695

)

(2,718,469

)

NET CURRENT LIABILITIES

(719,987

)

(421,412

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,060,882

4,420,713

CREDITORS

Amounts falling due after more than one year

7

(5,680,636

)

(5,661,265

)

NET LIABILITIES

(1,619,754

)

(1,240,552

)

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

9

559,154

559,154

Retained earnings

9

(2,179,008

)

(1,799,806

)

SHAREHOLDERS' FUNDS

(1,619,754

)

(1,240,552

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2025 and were signed on its behalf by:

Y Cohen - Director

1.	STATUTORY INFORMATION

Pressfield 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 accounts have been prepared on the going concern basis which is dependant upon continued support from the directors and the group companies. The directors and the group companies have validated to support the working capital requirements of the company 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

10% on cost and 2% on cost

Fixtures and fittings

-

20% on reducing balance

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investment property

investment property is included at fair value. Revaluation surpluses are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Investment

Freehold

and

property

property

fittings

Totals

£

£

£

£

COST

At 1 October 2023

2,500,000

3,142,630

338,685

5,981,315

Additions

-

10,200

-

10,200

At 30 September 2024

2,500,000

3,152,830

338,685

5,991,515

DEPRECIATION

At 1 October 2023

-

868,239

270,951

1,139,190

Charge for year

-

57,909

13,547

71,456

At 30 September 2024

-

926,148

284,498

1,210,646

NET BOOK VALUE

At 30 September 2024

2,500,000

2,226,682

54,187

4,780,869

At 30 September 2023

2,500,000

2,274,391

67,734

4,842,125

The investment property was valued by the directors on a fair value basis at 30 September 2023.

On historical basis the investment property would have been included at an original cost of £1,940,846 (2023: £1,940,846).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

84,901

28,732

Amounts owed by group undertakings

14,700

14,700

Amounts owed by participating interests

1,990,173

2,045,624

Other debtors

107,148

107,166

Prepayments and accrued income

9,921

13,020

2,206,843

2,209,242

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

130,000

130,000

Trade creditors

35,852

37,232

Amounts owed to group undertakings

2,377,865

2,211,493

Amounts owed to participating interests

121,349

27,300

Social security and other taxes

121,127

92,474

Other creditors

77,350

143,636

Accrued expenses

124,152

76,334

2,987,695

2,718,469

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

3,515,000

3,645,000

Other loans

2,165,636

2,016,265

5,680,636

5,661,265

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

3,645,000

3,775,000

The bank loans are secured by fixed charges over the freehold property and investment property and guarantees provided by the directors.

Amounts owed to group undertakings and the directors are unsecured, subordinated to the bank loans and only repayable when the company has sufficient funds.

Other loans are secured by a charge over the share capital of the company.

9.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 October 2023

(1,799,806

)

559,154

(1,240,652

)

Deficit for the year

(379,202

)

(379,202

)

At 30 September 2024

(2,179,008

)

559,154

(1,619,854

)

10.	RELATED PARTY DISCLOSURES

Included in amounts owed by / (to) participating interest (notes 8 & 9) are amounts of £(88,049), £340,787, £37,000 and £(33,300) (2023: Amounts owed by / (to) £51,451, £344,787, £37,000 and £(27,300) Summit Hotels Limited, Wembley City Hix Limited, Risinghurst Limited and Avenue Banqueting Limited, respectively, being companies in which the directors have an interest .

Also included in amounts owed by participating interests (note 8) is £1,612,386 (2022: £1,612,386) due from Property Participation Cell C2106D PC, an entity in which members of the Cohen family have an interest. Interest for the year has been waived.

Included in other loans (note 9) is £2,165,636 (2023: £2,016,265) due to Risinghirst Limited, a company in which members of the Cohen family have an interest. During the year £127,495 (2022: £59,762) of interest was charged on this loan.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties of the company are Y Cohen, G Cohen & A Kohen by virtue of their beneficial interest in the entire share capital of Gyda Properties Limited.