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REGISTERED NUMBER: 13678367 (England and Wales)

Unaudited Financial Statements

for the Period 14 October 2021 to 31 October 2022

for

Alshafi Properties Limited

Alshafi Properties Limited (Registered number: 13678367)

Contents of the Financial Statements

for the Period 14 October 2021 to 31 October 2022

Page |

Balance Sheet | 1 |

Notes to the Financial Statements | 2 |

Alshafi Properties Limited (Registered number: 13678367)

Balance Sheet

31 October 2022

| Notes | £ | £ |

| FIXED ASSETS

| Investment property | 4 | 301,425 |  |

| CURRENT ASSETS

| Cash at bank and in hand | 3,581 |  |  |

| CREDITORS

| Amounts falling due within one year | 5 | 91,895 |  |

| NET CURRENT LIABILITIES | (88,314 | ) |

| TOTAL ASSETS LESS CURRENT LIABILITIES | 213,111 |  |

| CREDITORS

| Amounts falling due after more than one year | 6 | 215,745 |  |

| NET LIABILITIES | (2,634 | ) |

| CAPITAL AND RESERVES

| Called up share capital | 8 | 100 |  |

| Retained earnings | (2,734 | ) |

| SHAREHOLDERS' FUNDS | (2,634 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2022 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 October 2023 and were signed by:

Mr Y Alshafi - Director

Alshafi Properties Limited (Registered number: 13678367)

Notes to the Financial Statements

for the Period 14 October 2021 to 31 October 2022

1. | STATUTORY INFORMATION

| Alshafi Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

| Registered number: | 13678367

| Registered office: | First floor, Spitalfields House

| Stirling Way

| Borehamwood

| Hertfordshire

| WD6 2FX

| The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts inthese financial statements are rounded to the nearest £.

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.

| Significant judgements and estimates

| In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only the period, or in the period of the revision and future periods where the revision affects both current and future periods.

| Turnover

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

| Turnover represents rent receivable from tenant.

| Cash and cash equivalents

| Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Alshafi Properties Limited (Registered number: 13678367)

Notes to the Financial Statements - continued

for the Period 14 October 2021 to 31 October 2022

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

| Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Basic financial assets

| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

| Derecognition of financial assets

| Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

| Basic financial liabilities

| Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities

| Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

| Taxation

| Taxation for the period 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.

Alshafi Properties Limited (Registered number: 13678367)

Notes to the Financial Statements - continued

for the Period 14 October 2021 to 31 October 2022

2. | ACCOUNTING POLICIES - continued

| 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 period 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the period was 1 .

4. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| Additions | 301,425 |  |

| At 31 October 2022 | 301,425 |  |

| NET BOOK VALUE

| At 31 October 2022 | 301,425 |  |

| Investment property was revalued on an open market basis on 31 October 2022 by the director.

5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

£ |

| Other creditors | 91,895 |  |

6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

£ |

| Bank loans | 215,745 |  |

| Amounts falling due in more than five years:

| Repayable otherwise than by instalments

| Bank loans more 5 yrs non-inst | 215,745 |  |

7. | SECURED DEBTS

| The following secured debts are included within creditors:

£ |

| Bank loans | 215,745 |  |

Alshafi Properties Limited (Registered number: 13678367)

Notes to the Financial Statements - continued

for the Period 14 October 2021 to 31 October 2022

8. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal

| value: | £ |

| 100 | Ordinary | £1 | 100 |  |

| 100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

9. | RELATED PARTY DISCLOSURES

| Include within other creditors due within one year is an amount of £91,115 owed to the director of the company. The loan is interest free and repayable on demand.

10. | ULTIMATE CONTROLLING PARTY

| The company is controlled by the director.