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REGISTERED NUMBER: 11210911 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Kheri Holdings Limited

Kheri Holdings Limited (Registered number: 11210911)

Contents of the Financial Statements

for the Year Ended 31 December 2024

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Kheri Holdings Limited

Company Information

for the Year Ended 31 December 2024

| DIRECTOR: | T S Gill

| REGISTERED OFFICE: | 51 Gloucester Terrace

| London

| United Kingdom

| W2 3DQ

| REGISTERED NUMBER: | 11210911 (England and Wales)

| ACCOUNTANTS: | Euro Ashfords (UK) Ltd

| 2nd Floor,

| 39 Ludgate hill

| London

| EC4M 7JN

Kheri Holdings Limited (Registered number: 11210911)

Balance Sheet

31 December 2024

| 31.12.24 | 31.12.23 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investments | 4 | 14,306,307 |  | 14,156,307 |  |

Investment property | 5 | 10,845,820 |  | 10,845,820 |  |

25,152,127 |  | 25,002,127 |  |

CURRENT ASSETS

Debtors | 6 | 440,266 |  | 425,428 |  |

Cash at bank | 1,287,123 |  | 1,094,526 |  |

1,727,389 |  | 1,519,954 |  |

CREDITORS

Amounts falling due within one year | 7 | 5,159,926 |  | 4,959,950 |  |

NET CURRENT LIABILITIES | (3,432,537 | ) | (3,439,996 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 21,719,590 |  | 21,562,131 |  |

PROVISIONS FOR LIABILITIES | 9 | 178,363 |  | 178,363 |  |

NET ASSETS | 21,541,227 |  | 21,383,768 |  |

CAPITAL AND RESERVES

Called up share capital | 3 |  | 3 |  |

Merger reserves | 10 | 18,845,894 |  | 18,845,894 |  |

Retained earnings | 10 | 2,695,330 |  | 2,537,871 |  |

21,541,227 |  | 21,383,768 |  |

Kheri Holdings Limited (Registered number: 11210911)

Balance Sheet - continued

31 December 2024

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 director acknowledges his 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 director and authorised for issue on 3 December 2025 and were signed by:

T S Gill - Director

Kheri Holdings Limited (Registered number: 11210911)

Notes to the Financial Statements

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| Kheri Holdings 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.

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.

| Revenue

| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

| Rendering of services

| Revenue from a contract to provide services is recognised in the period in which the services are

| provided in accordance with the stage of completion of the contract when all of the following

| conditions are satisfied:

| - the amount of revenue can be measured reliably;- it is probable that the Company will receive the consideration due under the contract;

| - the stage of completion of the contract at the end of the reporting period can be measured reliably; and

| -the costs incurred and the costs to complete the contract can be measured reliably.

| Investments in associates

| VALUATION OF INVESTMENTS

| Investments in subsidiaries and associates are measured at cost less accumulated impairment.

| Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

| Investments in listed company shares are remeasured to market value at each Balance Sheet date.

| Gains and losses on remeasurement are recognised in profit or loss for the period.

| Investment property

| Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are 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 balance sheet date.

Kheri Holdings Limited (Registered number: 11210911)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| 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.

| Financial instruments

| The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

| Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

| For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

| Going concern

| The director has reviewed the cash flows of the business for a period of 12 months from the date of sign off of these financial statementS and have prepared the accounts on the going concern basis accordingly.

| Impairment of fixed assets and goodwill

| Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

Kheri Holdings Limited (Registered number: 11210911)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

3. | EMPLOYEES AND DIRECTORS

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

4. | FIXED ASSET INVESTMENTS

| Interest |

| in |  | Unlisted |

| associate |  | investments |  | Totals

£ | £ | £ |

| COST

| At 1 January 2024 | 14,156,307 |  | - |  | 14,156,307 |  |

| Additions | - |  | 150,000 |  | 150,000 |  |

| At 31 December 2024 | 14,156,307 |  | 150,000 |  | 14,306,307 |  |

| NET BOOK VALUE

| At 31 December 2024 | 14,156,307 |  | 150,000 |  | 14,306,307 |  |

| At 31 December 2023 | 14,156,307 |  | - |  | 14,156,307 |  |

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 January 2024

| and 31 December 2024 | 10,845,820 |  |

| NET BOOK VALUE

| At 31 December 2024 | 10,845,820 |  |

| At 31 December 2023 | 10,845,820 |  |

| The fair value of the investment properties has been arrived by the directors' estimate of an open market

| value. The directors' believe that the carrying amounts in the financial statement approximate to their fair

| values.

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

| 31.12.24 |  | 31.12.23

£ | £ |

| Trade debtors | 345,025 |  | 345,025 |  |

| Other debtors | 80,403 |  | 80,403 |  |

| Prepayments and accrued income | 14,838 |  | - |  |

440,266 |  | 425,428 |  |

Kheri Holdings Limited (Registered number: 11210911)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

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

| 31.12.24 |  | 31.12.23

£ | £ |

| Other loans (see note 8) | 298,444 |  | 298,444 |  |

| Trade creditors | 521,500 |  | 2,855 |  |

| Amounts owed to group undertakings | 91,363 |  | 91,363 |  |

| Amounts owed to participating interests | 2,081,946 |  | 2,081,946 |  |

| Tax | 52,739 |  | 70,484 |  |

| Other creditors | 508,538 |  | 818,259 |  |

| Advanced deposits | 44,457 |  | 44,047 |  |

| Rent received in advance | 54,266 |  | 45,159 |  |

| Accruals and deferred income | 1,504,273 |  | 1,504,273 |  |

| Accrued expenses | 2,400 |  | 3,120 |  |

5,159,926 |  | 4,959,950 |  |

8. | LOANS

| An analysis of the maturity of loans is given below:

| 31.12.24 |  | 31.12.23

£ | £ |

| Amounts falling due within one year or on demand:

| Other loans | 298,444 |  | 298,444 |  |

9. | PROVISIONS FOR LIABILITIES

| 31.12.24 |  | 31.12.23

£ | £ |

| Deferred tax

| Accelerated capital allowances | 178,363 |  | 178,363 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2024 | 178,363 |  |

| Balance at 31 December 2024 | 178,363 |  |

10. | RESERVES

| Retained |  | Merger |

| earnings |  | reserves |  | Totals

£ | £ | £ |

| At 1 January 2024 | 2,537,871 |  | 18,845,894 |  | 21,383,765 |  |

| Profit for the year | 157,459 |  | 157,459 |  |

| At 31 December 2024 | 2,695,330 |  | 18,845,894 |  | 21,541,224 |  |

Kheri Holdings Limited (Registered number: 11210911)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

11. | RELATED PARTY DISCLOSURES

| At the balance sheet date, the director Mr. Taranjit Singh Gill owned 100% of the company’s shares and is therefore the ultimate controlling party.

| The following balances were outstanding with related parties at the year-end:

| Related Party |  | Relationship / Control |  | Amounts Owed (to / by 2024 (£ | ) | Amounts Owed (to / by 2023 (£ | ) |  |

| JJM (Holdings) UK Ltd |  | Mr Taranjit Singh Gill – 66.67% shareholder and director |  | 252,119 |  | 252,119 |  |  |

| Kheri Trading Ltd |  | Mr Taranjit Singh Gill – 100% shareholder and director |  | 2,492,011 |  | 2,081,946 |  |  |

| Gill London III Limited |  | Related company |  | nil |  | nil |  |

| Gill & Company Fashions Ltd |  | Mr Taranjit Singh Gill – 50% shareholder |  | (660,420 | ) | (599,920 | ) |  |

| Rajigold Holdings Ltd |  | Related company |  | (470,000 | ) | (75,000 | ) |

| Kheri Properties Ltd |  | Mr Taranjit Singh Gill – 100% shareholder and director |  | (23,848 | ) | (23,848 | ) |  |

| Lime Green Investments Ltd |  | 100% owned subsidiary |  | (67,515 | ) | (67,515 | ) |

| 3 Colleton Crescent |  | Related |  | (23,339 | ) | (23,339 | ) |

| The above balances are interest-free, unsecured and repayable on demand.

12. | ULTIMATE CONTROLLING PARTY

| The controlling party is T S Gill.