These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

Milton Keynes I Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 7th Floor Swan House, 17 - 19 Stratford Place, London, W1C 1BQ.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements of the company have been prepared on the going concern basis as we believe that adequate cash resources will be available to cover the company’s requirements for working capital and capital expenditure for at least the next twelve months. We are not aware of any other factors which could put into jeopardy the company’s going concern status during or beyond this period.true

The Company is funded by equity provided by its shareholders. The Company pursues acquiring a land site in the United Kingdom to be developed into a build-to-rent residential property (the “Project”). The Project can be divided into the following phases: Pre-acquisition and permitting, acquisition, development, and holding. The Company’s commitments

for each phase are independent and the Company secure shareholders funding approval in-line with the committed relevant phase costs.

Currently, the Company is pursuing the pre-acquisition and permitting phase.

Consequently, the Company signed a conditional Sale and Purchase (“SPA”) agreement with the landowner and provided a deposit. Completing the acquisition is conditioned on securing the appropriate permitting. At this preacquisition phase, the Company incurs costs for securing the appropriate permitting. Shareholders approved funding is sufficient to cover all needed Company’s commitments for this phase of the project. Therefore, management prepared this financial statement on a going concern basis. The Company will seek for new approved shareholders funding and/or source 3rd party funding before taking financial commitments for the next development phases. Should the closing on the SPA not occur, the Company will consider other investment opportunities.

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.

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, 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.

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.

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.

In the application of the company’s accounting policies, the directors are 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 that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

The project costs require management's assessment as to the likelihood of proceeding with the development of the residential property. At this stage, the planning phase of the project has been approved.

Management do not consider there to be any key sources of estimation uncertainty.

The average monthly number of persons employed by the company during the year was:

During the period, 2 £1 ordinary share have been issued and fully paid with a premium of £1,802,997.

Profit and loss reserves include all current period retained losses, all of which are distributable reserves.

Share premium includes any premiums received on the issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

At 31 December 2024, the company had an amount owing to a related group member of Nil (2023: £1,239,999).

GLP Residential Holding LP is the immediate parent of Milton Keynes I Ltd. Milton Keynes I Ltd does not have an ultimate controlling party.