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REGISTERED NUMBER: 14542110 (England and Wales)

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 OCTOBER 2024 |

| FOR |

| WATERFRONT ASSETS LTD |

| WATERFRONT ASSETS LTD (REGISTERED NUMBER: 14542110) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| WATERFRONT ASSETS LTD |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 OCTOBER 2024

| DIRECTORS: | A S Kounnis

| P D A Karras

| REGISTERED OFFICE: | 1 Kings Avenue

| London

| N21 3NA

| REGISTERED NUMBER: | 14542110 (England and Wales)

| AUDITORS: | AGK Partnership Ltd

| Chartered Accountants & Statutory Auditors

| 1 Kings Avenue

| London

| N21 3NA

| WATERFRONT ASSETS LTD (REGISTERED NUMBER: 14542110) |

BALANCE SHEET

31 OCTOBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Property, plant and equipment | 4 | 2,395 |  | 3,833 |  |

Investment property | 5 | 4,000,000 |  | 3,554,149 |  |

4,002,395 |  | 3,557,982 |  |

CURRENT ASSETS

Debtors | 6 | 524,843 |  | 299,186 |  |

Cash at bank | 212,076 |  | 286,112 |  |

736,919 |  | 585,298 |  |

CREDITORS

Amounts falling due within one year | 7 | 359,837 |  | 464,773 |  |

NET CURRENT ASSETS | 377,082 |  | 120,525 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 4,379,477 |  | 3,678,507 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (2,016,559 | ) | (1,802,034 | ) |

PROVISIONS FOR LIABILITIES | 10 | (111,463 | ) | - |  |

NET ASSETS | 2,251,455 |  | 1,876,473 |  |

CAPITAL AND RESERVES

Called up share capital | 11 | 10,001 |  | 10,001 |  |

Share premium | 12 | 1,852,162 |  | 1,852,162 |  |

Retained earnings | 12 | 389,292 |  | 14,310 |  |

SHAREHOLDERS' FUNDS | 2,251,455 |  | 1,876,473 |  |

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 24 October 2025 and were signed on its behalf by:

P D A Karras - Director

| WATERFRONT ASSETS LTD (REGISTERED NUMBER: 14542110) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

1. | STATUTORY INFORMATION

| Waterfront Assets Ltd 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 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.

| Revenue

| 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.

| Property, plant and equipment

| Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

| The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

| Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

| Plant and machinery |  | 30% on cost |  |

| Fixtures and fittings |  | 30% on cost |  |

| Investment property

| Investment property, which is property held to earn rentals, 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.

| 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.

| WATERFRONT ASSETS LTD (REGISTERED NUMBER: 14542110) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2024

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year 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.

| 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 year 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 year was 2 (2023 - 1 ) .

4. | PROPERTY, PLANT AND EQUIPMENT

| Fixtures |

| Plant and |  | and |

| machinery |  | fittings |  | Totals

£ | £ | £ |

| COST

| At 1 November 2023 | - |  | 4,791 |  | 4,791 |  |

| Reclassification/transfer | 4,791 |  | (4,791 | ) | - |  |

| At 31 October 2024 | 4,791 |  | - |  | 4,791 |  |

| DEPRECIATION

| At 1 November 2023 | - |  | 958 |  | 958 |  |

| Charge for year | 1,438 |  | - |  | 1,438 |  |

| Reclassification/transfer | 958 |  | (958 | ) | - |  |

| At 31 October 2024 | 2,396 |  | - |  | 2,396 |  |

| NET BOOK VALUE

| At 31 October 2024 | 2,395 |  | - |  | 2,395 |  |

| At 31 October 2023 | - |  | 3,833 |  | 3,833 |  |

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 November 2023 | 3,554,149 |  |

| Revaluations | 445,851 |  |

| At 31 October 2024 | 4,000,000 |  |

| NET BOOK VALUE

| At 31 October 2024 | 4,000,000 |  |

| At 31 October 2023 | 3,554,149 |  |

| WATERFRONT ASSETS LTD (REGISTERED NUMBER: 14542110) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2024

5. | INVESTMENT PROPERTY - continued

| Fair value at 31 October 2024 is represented by:

£ |

| Valuation in 2024 | 445,851 |  |

| Cost | 3,554,149 |  |

4,000,000 |  |

| If investment property had not been revalued it would have been included at the following historical cost:

2024 | 2023 |

£ | £ |

| Cost | 3,554,149 |  | 3,554,149 |  |

| Investment property was valued on an open market basis on 31 October 2024 by directors of the company .

| The directors consider that the market values of the properties were as per the values stated in the financial statements.

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Amounts owed by group undertakings | - |  | 211,324 |  |

| Amounts owed by connected companies | 34,618 |  | - |  |

| Amounts owed by associates | 404,639 |  | - |  |

| Other debtors | 85,586 |  | 87,862 |  |

524,843 |  | 299,186 |  |

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

2024 | 2023 |

£ | £ |

| Bank loans and overdrafts | 64,465 |  | 107,957 |  |

| Trade creditors | 23,315 |  | 1,542 |  |

| Amounts owed to group undertakings | - |  | 229,047 |  |

| Amounts owed to connected companies | 33,430 |  | - |  |

| Taxation and social security | 220,197 |  | 123,226 |  |

| Other creditors | 18,430 |  | 3,001 |  |

359,837 |  | 464,773 |  |

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

2024 | 2023 |

£ | £ |

| Bank loans | 2,016,559 |  | 1,802,034 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

2024 | 2023 |

£ | £ |

| Bank loans | 2,081,024 |  | 1,909,991 |  |

| Bank loans is secured by way of fixed and floating charge on the property and other assets of the company and contains a negative pledge.

| WATERFRONT ASSETS LTD (REGISTERED NUMBER: 14542110) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2024

10. | PROVISIONS FOR LIABILITIES

2024 | 2023 |

£ | £ |

| Deferred tax | 111,463 |  | - |  |

| Deferred |

| tax |

£ |

| Provided during year | 111,463 |  |

| Balance at 31 October 2024 | 111,463 |  |

11. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

| 10,001 | Ordinary Share | 1 | 10,001 |  | 10,001 |  |

12. | RESERVES

| Retained |  | Share |

| earnings |  | premium |  | Totals

£ | £ | £ |

| At 1 November 2023 | 14,310 |  | 1,852,162 |  | 1,866,472 |  |

| Profit for the year | 774,982 |  | 774,982 |  |

| Dividends | (400,000 | ) | (400,000 | ) |

| At 31 October 2024 | 389,292 |  | 1,852,162 |  | 2,241,454 |  |

| Included with in retained earnings is an undistributable element attributable to the unrealised gains on revaluation of the investments property.

| Retained |  |

| Earnings |  |

| (£) |  |

| Undistributable profits/(loss) |  | 334,388 |  |

| Distributable profits/(loss) |  | 54,904 |  |

| Total retained earnings at 31 Oct 2024 |  | 389,292 |  |

| A deferred tax assets of £111,463 has been recognised in respect of these undistributable loss.

| 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.

13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Alekos Christofi (FCCA) (Senior Statutory Auditor)

| for and on behalf of AGK Partnership Ltd

| WATERFRONT ASSETS LTD (REGISTERED NUMBER: 14542110) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2024

14. | RELATED PARTY DISCLOSURES

| Included in debtors, an amount falling due within one year, is an amount of £Nil (2023: £211,324) due from the group undertakings. This loan is interest free and repayable on demand.

| Included in debtors, an amount falling due within one year, is an amount of £404,639 (2023: £Nil) due from the associates. This loan is interest free and repayable on demand.

| Included in debtors, an amount falling due within one year, is an amount of £34,618 (2023: £Nil) due from the

| connected companies. This loan is interest free and repayable on demand.

| Included in creditors, an amount falling due within one year, is an amount of £Nil (2023: £229,047) due to the

| group undertakings. This loan is interest free and repayable on demand.

| Included in creditors, an amount falling due within one year, is an amount of £32,500 (2023: £Nil) due to the

| connected companies. This loan is interest free and repayable on demand.

| During the year the company received services from a company with common shareholders amounting to

| £99,911 (2023: £57,236).

15. | POST BALANCE SHEET EVENTS

| No significant events have occurred between the reporting date, 31 Oct 2024, and the date the financial statements were authorized for issue that would require adjustment to or disclosure in the financial statements.

16. | COMPARATIVES

| The comparatives figures in the accounts are not comparable as the current period of these accounts is twelve months as compared to slightly over ten months in previous period.