Company No: 08993298 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Investment property	3	4,497,772		4,497,772
		4,497,772		4,497,772
Current assets
Debtors	4	76,034		44,216
Cash at bank and in hand		81,620		249,761
		157,654		293,977
Creditors: amounts falling due within one year	5	( 789,063)		( 682,945)
Net current liabilities		(631,409)		(388,968)
Total assets less current liabilities		3,866,363		4,108,804
Creditors: amounts falling due after more than one year	6	( 2,592,656)		( 2,982,560)
Provision for liabilities		( 186,068)		( 186,068)
Net assets		1,087,639		940,176
Capital and reserves
Called-up share capital	7	2		2
Revaluation reserve		641,207		641,207
Profit and loss account		446,430		298,967
Total shareholder's funds		1,087,639		940,176

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Achilles Properties Limited (registered number: 08993298) were approved and authorised for issue by the Board of Directors on 11 September 2025. They were signed on its behalf by:

P M Azzopardi Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Achilles Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 32 Grosvenor Road, Gillingham Business Park, Gillingham, ME8 0SA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		4

3. Investment property

	Investment property
	£
Valuation
As at 01 January 2024	4,497,772
As at 31 December 2024	4,497,772

Valuation

The investment property was last revalued on 6th April 2023 by Whitney & Associates, 2040N. Loop 336 West, Suite 120 Conroe, Texas 77304. The basis of the valuation was open market basis. No further revaluation has occurred since.

4. Debtors

	2024		2023
	£		£
Trade debtors	75,799		44,091
Other debtors	235		125
	76,034		44,216

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	1,413		13,491
Amounts owed to Group undertakings	695,126		638,152
Corporation tax	16,116		724
Witholding tax	58,079		0
Other taxation and social security	10,000		0
Other creditors	8,329		30,578
	789,063		682,945

6. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Amounts owed to Group undertakings	795,456		933,776
Other creditors	1,797,200		2,048,784
	2,592,656		2,982,560

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each	2		2

8. Related party transactions

Transactions with the entity's directors

	2024		2023
	£		£
Interest charged on directors loan accounts	141,612		132,490

Interest has been charged by the directors on their loans to the company.

Other related party transactions

	2024		2023
	£		£
Loan from Wozair Ltd	411,335		411,334
Loan from Wozair USA Ltd	128,791		126,818
Loan from Wozair Asia	950,456		1,033,776
Interest paid to Wozair Asia	(65,635)		(66,555)
Rental income received from Wozair USA Ltd	140,716		135,772
Property taxes paid to Wozair USA Ltd	(8,962)		24,539

Of the total loan from Wozair Asia, amount due within one year is £155,000 (2023: £100,000).
Interest has been charged by the Wozair USA Ltd on its loan to the company.

9. Ultimate controlling party

Parent Company:

Achilles Holdings Limited