REGISTERED NUMBER: 11170767 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

EDGEWAY PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs S Lahrie

L Mohamed

REGISTERED OFFICE:

113 Hoe Street

Walthamstow

London

E17 4RX

REGISTERED NUMBER:

11170767 (England and Wales)

ACCOUNTANTS:

AGK Partners

Chartered Accountants

1 Kings Avenue

London

N21 3NA

FIXED ASSETS

Investments

4

1,653,826

1,653,826

Investment property

5

27,785,000

29,785,000

29,438,826

31,438,826

CURRENT ASSETS

Debtors

6

89,600

112,683

Cash at bank

104

207

89,704

112,890

CREDITORS

Amounts falling due within one year

7

5,753,117

11,169,973

NET CURRENT LIABILITIES

(5,663,413

)

(11,057,083

)

TOTAL ASSETS LESS CURRENT LIABILITIES

23,775,413

20,381,743

CREDITORS

Amounts falling due after more than one year

8

(21,552,940

)

(19,715,652

)

PROVISIONS FOR LIABILITIES

10

(380,000

)

(380,000

)

NET ASSETS

1,842,473

286,091

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

11

1,842,471

286,089

1,842,473

286,091

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 23 September 2025 and were signed on its behalf by:

L Mohamed - Director

1.	STATUTORY INFORMATION

Edgeway Properties 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.

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 that period. or in the period of the revision and future periods where the revision affects both current and future periods. There are no significant judgements or estimates involved in the preparation of the financial statements.

Turnover

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

Revenue represents the value of rental income chargeable in respect of the company's investment property. Revenue is recognised evenly over the period of the rental agreement, net of value added tax.

Where rental income is received in advance of the period to which it relates, it is recognised as deferred income. Where rental income is due but not yet received and relates to a current or past period, it is recognised as accrued income.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Investment property, which is property held to earn rentals or for capital appreciation or both, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure such as legal fees, property transfer taxes, and other transaction costs.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

An investment property is derecognised upon disposal or when the investment property is permanently withdrawn from use and no future economic benefits are expected from the continued use of the asset.

Any gain or loss arising on derecognition of the property (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in profit or loss in the period in which the property is derecognised.

Financial instruments

Basic financial assets and liabilities, which include debtors, creditors, 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.

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or

substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business

combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Provision for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

1,653,826

NET BOOK VALUE

At 31 December 2024

1,653,826

At 31 December 2023

1,653,826

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

29,785,000

Disposals

(3,375,000

)

Revaluations

1,375,000

At 31 December 2024

27,785,000

NET BOOK VALUE

At 31 December 2024

27,785,000

At 31 December 2023

29,785,000

Investment properties held by the company is stated at fair value. The director has independently carried out the valuation of the property as at the balance sheet date based on available market information and comparable property valuations.

The fair value determination does not include the services of an external valuer. However, the director believes that the valuation reflects an accurate and fair market value for the properties as of 31 December 2024.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

89,600

112,683

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

5,557,785

11,045,016

Other creditors

195,332

124,957

5,753,117

11,169,973

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

18,206,518

19,715,652

Amounts owed to group undertakings

3,346,422

-

21,552,940

19,715,652

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

18,206,517

19,715,652

Included within creditors falling due after more than one year is a balance of £18,206,517 (2023: £19,715,652). This liability is secured by a charge over the company’s property assets, comprising both fixed and floating charges and a negative pledge.

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

Revaluation timing difference

380,000

380,000

Deferred

tax

£

Balance at 1 January 2024

380,000

Balance at 31 December 2024

380,000

11.

RESERVES

Included within retained earnings, is an undistributable element attributable to the unrealised gain on investment properties. This amount is adjusted for deferred tax and is presented as follows:

- The unrealised gain on investment properties, net of deferred tax provision, amounts to £2,515,000 (2023:

1,140,000).

- A deferred tax provision of £380,000 (2023 - £380,000) has been recognised in respect of these unrealised gains.

These unrealised gains on investment properties are retained within the reserves but are considered

non-distributable under FRS 102 Section 1A, given their unrealised status and the associated deferred tax

obligation.

12.	RELATED PARTY DISCLOSURES

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.

13.	ULTIMATE CONTROLLING PARTY