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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Darent Wax Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 The Mills, Station Road, South Darenth, Kent, DA4 9BD.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.

Darent Wax Properties Limited is a wholly owned subsidiary of The Darent Wax Group Limited and the results of Darent Wax Properties Limited are included in the consolidated financial statements of The Darent Wax Group Limited which are available from 1 The Mills, Station Road, South Darenth, Kent, DA4 9BD.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover is recognised at the fair value of the consideration received or receivable for rental services and service charges provided in the normal course of business, and is shown net of VAT and other sales related taxes. Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Land and buildings are stated in the statement of financial position at their revalued amounts and as a result of a revaluation policy being adopted for property held, the properties have been transferred to investment property following revaluation, as required under FRS 102.

Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less. Bank overdrafts are shown within borrowings in current liabilities.

The company only has financial instruments which are classified as basic financial instruments.

Short-term debtors and creditors are measured at the settlement value. Any losses from impairment are recognised in profit and loss.

Bank loans are initially recorded at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method.

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Depreciation is calculated to write off the cost or valuation of assets over their estimated useful economic lives. See note 1.3 for specific rates.

Investment property is measured at fair value at each reporting date. The valuation considers all relevant available information, including but not limited to: relevant valuation indices (such as rental yields and recent sales) for properties of a similar type in the location in which the properties are held. The valuer uses their judgement in selecting and applying these indices, as well as their experience within the industry, to determine a suitable valuation of the properties. The valuation at 31 March 2025 was undertaken by a company independent of the company. The revaluation in the year was £2,127,141.

The average monthly number of persons (including directors) employed by the company during the year was:

Land and buildings were revalued as at 31 March 2025 to its fair value of £4,400,000 by The Acorn Group who are independent of the company and have experience of valuing similar properties. If freehold property were included in the balance sheet on an historical cost basis, then the carrying amount would be £2,272,859 (2024: £2,326,077), including accumulated depreciation of £388,045 (2024: £334,827).

Following the transition to a revaluation policy for property rented to a fellow group company, property has been transferred to investment property as of 31 March 2025. As required by FRS 102, the revaluation occurs prior to the transfer.

Following the transition to a revaluation policy for property rented to a fellow group company, property has been transferred to investment property as of 31 March 2025. The basis of the revaluation is covered in note 5.

The above loan is secured against the land and properties held by the company in a charge dated 31 May 2017. There is also a fixed and floating charge over the company's other assets dated 16 May 2017 in relation to the above loan.

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

There is a fixed and floating charge dated 28 June 2021 over the assets of Darent Wax Properties Limited in respect of an amount due to a director of the parent company, The Darent Wax Group Limited. The amount owed by The Darent Wax Group Limited in respect of this security at 31 March 2025 is £Nil (2024: £640,000). This charge was satisfied on 1 May 2025.

The company has taken advantage of the exemption provided in 33.1A of FRS 102 not to include details of transactions with 100% group companies.true

At the year end, the parent company was The Darent Wax Group Limited by virtue of owning the entire share capital of the company. Their address is the same as that of Darent Wax Properties Limited.

Post year end, the ultimate parent company is Darent Wax 25 Ltd, by virtue of indirectly owning the entire share capital of the company. Their address is the same as that of Darent Wax Properties Limited.

There is no ultimate controlling party.

In April 2025, a group restructure was undertaken with Darent Wax 25 Ltd becoming the new ultimate parent company. As a result of the restructure, two fixed and floating charges were created on 19 May 2025 over the assets of Darent Wax Properties Limited in respect of £2,043,694 due to two directors of Darent Wax 25 Limited.