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REGISTERED NUMBER: 05266394 (England and Wales)

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 28 FEBRUARY 2025 |

| FOR |

| PAGELIST LTD |

| PAGELIST LTD (REGISTERED NUMBER: 05266394) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

Page |

| Company Information | 1 |

| Statement of Financial Position | 2 |

| Notes to the Financial Statements | 4 |

| PAGELIST LTD |

COMPANY INFORMATION

FOR THE YEAR ENDED 28 FEBRUARY 2025

| DIRECTORS: | C Lerner

| I M Lerner

| Mrs F R Lerner

| SECRETARY: | Mrs F R Lerner

| REGISTERED OFFICE: | 115 Craven Park Road

| South Tottenham

| London

| N15 6BL

| REGISTERED NUMBER: | 05266394 (England and Wales)

| ACCOUNTANTS: | Venitt and Greaves

| Chartered Accountants

| 115 Craven Park Road

| South Tottenham

| London

| N15 6BL

| PAGELIST LTD (REGISTERED NUMBER: 05266394) |

STATEMENT OF FINANCIAL POSITION

28 FEBRUARY 2025

| 28.2.25 |  | 29.2.24

| Notes | £ | £ |

FIXED ASSETS

Investment property | 4 | 26,104,012 |  | 26,013,287 |  |

CURRENT ASSETS

Debtors | 5 | 95,767 |  | 27,643 |  |

Cash at bank | 6,122 |  | 12,167 |  |

101,889 |  | 39,810 |  |

CREDITORS

Amounts falling due within one year | 6 | (25,761,704 | ) | (26,340,647 | ) |

NET CURRENT LIABILITIES | (25,659,815 | ) | (26,300,837 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 444,197 |  | (287,550 | ) |

CREDITORS

Amounts falling due after more than one year | 7 | (22,769,973 | ) | (23,003,619 | ) |

NET LIABILITIES | (22,325,776 | ) | (23,291,169 | ) |

CAPITAL AND RESERVES

Called up share capital | 9 | 1 |  | 1 |  |

Revaluation reserve | 10 | (15,049,855 | ) | (15,049,855 | ) |

Retained earnings | 10 | (7,275,922 | ) | (8,241,315 | ) |

SHAREHOLDERS' FUNDS | (22,325,776 | ) | (23,291,169 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

| PAGELIST LTD (REGISTERED NUMBER: 05266394) |

STATEMENT OF FINANCIAL POSITION - continued

28 FEBRUARY 2025

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 27 August 2025 and were signed on its behalf by:

I M Lerner - Director

C Lerner - Director

| PAGELIST LTD (REGISTERED NUMBER: 05266394) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

1. | STATUTORY INFORMATION

| Pagelist 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention except for the assets and liabilities which are required by FRS 102 to be stated at fair value.

| Turnover

| Turnover represents net rent receivable, excluding value added tax.

| 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.

| 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 statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 1 (2024 - 1 ) .

| PAGELIST LTD (REGISTERED NUMBER: 05266394) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 28 FEBRUARY 2025

4. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 March 2024 | 26,013,287 |  |

| Additions | 90,725 |  |

| At 28 February 2025 | 26,104,012 |  |

| NET BOOK VALUE

| At 28 February 2025 | 26,104,012 |  |

| At 29 February 2024 | 26,013,287 |  |

| Fair value at 28 February 2025 is represented by:

£ |

| Valuation in 2015 | (13,841,050 | ) |

| Valuation in 2017 | (1,208,805 | ) |

| Cost | 41,153,867 |  |

26,104,012 |  |

| The company's investment properties were revalued by Cushman & Wakefield (specialist independent valuer) as at 12 April 2017.

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

| 28.2.25 |  | 29.2.24

£ | £ |

| Trade debtors | 6,167 |  | 6,960 |  |

| Other debtors | 89,600 |  | 20,683 |  |

95,767 |  | 27,643 |  |

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

| 28.2.25 |  | 29.2.24

£ | £ |

| Trade creditors | 138,204 |  | 138,204 |  |

| Taxation and social security | 3,859 |  | 223,847 |  |

| Other creditors | 25,619,641 |  | 25,978,596 |  |

25,761,704 |  | 26,340,647 |  |

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

| 28.2.25 |  | 29.2.24

£ | £ |

| Other creditors | 22,769,973 |  | 23,003,619 |  |

| PAGELIST LTD (REGISTERED NUMBER: 05266394) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 28 FEBRUARY 2025

8. | SECURED DEBTS

| The following secured debts are included within creditors:

| 28.2.25 |  | 29.2.24

£ | £ |

| Other loans | 15,067,025 |  | 15,300,671 |  |

| The company's investment properties are charged to Mount Street Mortgage Servicing Limited on behalf of LV Commercial Mortgages Ltd.

| Farcastle Ltd the parent company is the borrower and Pagelist Ltd and other associated companies are guarantors.

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 28.2.25 |  | 29.2.24

| value: | £ | £ |

| 1 | Ordinary | 1 | 1 |  | 1 |  |

10. | RESERVES

| Retained |  | Revaluation |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 March 2024 | (8,241,315 | ) | (15,049,855 | ) | (23,291,170 | ) |

| Profit for the year | 965,393 |  | 965,393 |  |

| At 28 February 2025 | (7,275,922 | ) | (15,049,855 | ) | (22,325,777 | ) |

11. | RELATED PARTY DISCLOSURES

| Other creditors include £24,247,296 (2024 - £24,597,851 due to the parent company Farcastle Limited

| Included in the creditors due more than one year is the sum of £7,702,949 (2024- £7,702,949) due to Creston Ltd a company where Mr C & Mrs F R Lerner are directors and shareholders

| During the year the company paid management fees to Oakleaf Limited (I M Lerner is the director) in the sum of 5,000 (2024 - £7,500).

| During the year the company paid management fees to Earlward Limited (I M Lerner is the director) in the sum of £13,900 (2024 - £5,000).

12. | GOING CONCERN

| The financial statements have been prepared on a going concern basis on the assumption that the parent company will provide continued financial support.