Contents of the Financial Statements

for the Period Ended 31 December 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

Directors' report period ended 31 December 2024

The directors present their report with the financial statements of the company for the period ended 31 December 2024

Directors

The directors shown below have held office during the period of
23 May 2024 to 31 December 2024

Nicholas James Minto
TMF Corporate Directors Limited
Joint Corporate Services Limited

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
25 September 2025

And signed on behalf of the board by:
Name: TMF Corporate Directors Limited
Status: Director

Profit And Loss Account

for the Period Ended 31 December 2024

	2024	2023
	£	£
Turnover:	31,668	(11,699)
Cost of sales:	0	0
Gross profit(or loss):	31,668	(11,699)
Distribution costs:	0	0
Administrative expenses:	( 399 )	( 48 )
Operating profit(or loss):	31,269	(11,747)
Interest receivable and similar income:	0	0
Interest payable and similar charges:	0	0
Profit(or loss) before tax:	31,269	(11,747)
Tax:	( 5,942 )	4,346
Profit(or loss) for the financial year:	25,327	(7,401)

Balance sheet

As at 31 December 2024

	Notes	2024	2023
		£	£
Called up share capital not paid:		0	0
Fixed assets
Intangible assets:		0	0
Tangible assets:		0	0
Investments:	3	88,011	73,393
Total fixed assets:		88,011	73,393
Current assets
Stocks:		0	0
Debtors:	4	4,334	3,605
Cash at bank and in hand:		13,127	124,220
Investments:		0	0
Total current assets:		17,461	127,825
Prepayments and accrued income:		0	0
Creditors: amounts falling due within one year:	5	( 9,132 )	( 5,767 )
Net current assets (liabilities):		8,329	122,058
Total assets less current liabilities:		96,340	195,451
Creditors: amounts falling due after more than one year:		0	0
Provision for liabilities:		( 4,315 )	( 1,536 )
Accruals and deferred income:		0	0
Total net assets (liabilities):		92,025	193,915
Capital and reserves
Called up share capital:		52,000	52,000
Share premium account:		0	0
Other reserves:		0	0
Profit and loss account:		40,025	141,915
Total Shareholders' funds:		92,025	193,915

The notes form part of these financial statements

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 December 2024

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Valuation information and policy

  The investments in the Nominee and the Limited Partnership are initially recognised at transaction price and are subsequently measured at fair value through profit or loss. The fair value of the Company's investment in the Nominee is estimated to be equal to the percentage ownership of the Company to the Net Asset Value ("NAV") of the Nominee as at the Statement of Financial Position date. The fair value of the Company’s investment in the Limited Partnership is estimated to be equal to the percentage ownership of the Company to the Limited Partnership’s Net Asset Value, adjusted to exclude the Partners Advance accounts, as at the Statement of Financial Position date. The value assigned to the investments is based upon available information and does not necessarily represent amounts which might ultimately by realised. The investments in the Nominee and the Limited Partnership are valued based on the latest available NAV of the Nominee and the Limited Partnership. The Directors review the details of the reported information obtained from the Nominee and the Limited Partnership and considers: a) the liquidity of the Nominee and the Limited Partnership or its underlying investments: b) the value date of the NAV provided; and c) the basis of accounting and, in instances where the basis of accounting is other than fair value, fair valuation information provided. If necessary, the Company makes adjustments to the NAV of the Limited Partnership to obtain the best estimate of fair value. The NAV of the Limited Partnership for the year ended 31 December 2024 and 31 December 2023 is adjusted to exclude the Partners Advance accounts. Investments in the Nominee and the Limited Partnership are classified as Level III of the fair value hierarchy for both the year ended 31 December 2024 and 31 December 2023. For the investment in the Limited Partnership, the fair value of the Company's investment is largely dependent on the valuation of the investment properties held by the Limited Partnership. The valuations, which are supported by comparable and recent market evidence, are prepared by considering the aggregate of the net annual rents receivable from the properties and where relevant, associated costs. A yield which reflects the specific risks inherent in the net cash flows is then applied to the net annual rentals to arrive at the property valuation. The investments in the Nominee and the Limited Partnership are derecognised when the interest of the Company in the Nominee and the Limited Partnership are disposed.

  Other accounting policies

  Basis of preparation of financial statements. Going concern. Consolidated financial statements. Functional and presentation currency. Financial instruments. (a) Classification of financial instruments issued by the Company (b) Financial assets (c) Financial liabilities Fair value estimation Investments at fair value through profit or loss Cash and cash equivalents Distributions from the Limited Partnership Interest receivable and similar income Expenses Taxation

Notes to the Financial Statements

for the Period Ended 31 December 2024

• 2. Employees

  	2024	2023
  Average number of employees during the period	0	0