REGISTERED NUMBER: 05011304 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

NEW VIEW ESTATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M G Jacobs

REGISTERED OFFICE:

55 Loudoun Road

St John's Wood

London

NW8 0DL

REGISTERED NUMBER:

05011304 (England and Wales)

AUDITORS:

Harris & Trotter LLP

Chartered Accountants

Registered Auditors

101 New Cavendish Street

1st Floor South

London

W1W 6XH

FIXED ASSETS

Investments

5

23,996,161

24,879,451

CURRENT ASSETS

Debtors

6

1,687,372

394,169

Cash at bank

2,060,204

2,708,277

3,747,576

3,102,446

CREDITORS

Amounts falling due within one year

7

(53,632

)

(49,713

)

NET CURRENT ASSETS

3,693,944

3,052,733

TOTAL ASSETS LESS CURRENT LIABILITIES

27,690,105

27,932,184

CREDITORS

Amounts falling due after more than one year

8

(31,006,874

)

(72,830,624

)

NET LIABILITIES

(3,316,769

)

(44,898,440

)

CAPITAL AND RESERVES

Called up share capital

10

38,454,692

954,692

Retained earnings

(41,771,461

)

(45,853,132

)

SHAREHOLDERS' FUNDS

(3,316,769

)

(44,898,440

)

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 27 November 2025 and were signed by:

M G Jacobs - Director

1.	STATUTORY INFORMATION

New View Estates 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 the provisions of Section 1A ''Small Entities'' of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic or Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost method and subsequently modified by the revaluation of certain assets.

The majority of the company's transactions are undertaken in Euros and therefore the director has decided to prepare the financial statements in this currency.

The director reports net current assets of €3,693,944 (2023: €3,052,733). The parent company, Profinance Enterprises S.A., has confirmed they will continue to financially support the company. At the year end, creditors falling due after more than one year total €31,006,874 (2023: €72,830,624), all of which is payable to the parent company.

Due to the above, the director believes that it is appropriate for the financial statements to be prepared on a going concern basis.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into Euros at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are retranslated into Euros at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

3.	EMPLOYEES AND DIRECTORS

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

4.	AUDITORS' REMUNERATION

31.12.24

31.12.23

€

€

Fees payable to the company's auditors for the audit of the company's financial statements

21,560

18,675

5.	FIXED ASSET INVESTMENTS

31.12.24

31.12.23

€

€

Shares in group undertakings

154,233

154,223

Loans to group undertakings

23,841,928

24,725,228

23,996,161

24,879,451

Additional information is as follows:

Shares in

group

undertakings

€

COST OR VALUATION

At 1 January 2024

154,223

Reversal of impairments

10

At 31 December 2024

154,233

NET BOOK VALUE

At 31 December 2024

154,233

At 31 December 2023

154,223

Cost or valuation at 31 December 2024 is represented by:

Shares in

group

undertakings

€

Valuation in 2024

154,233

Loans to

group

undertakings

€

At 1 January 2024

24,725,228

Repayment in year

(883,300

)

At 31 December 2024

23,841,928

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

€

€

Other debtors

-

278,000

Amounts owed by related parties

67,259

-

Denisov Alexander

100,000

100,000

Provision for doubtful debt

(100,000

)

(100,000

)

Other loans

1,620,113

116,169

1,687,372

394,169

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

€

€

Trade creditors

-

16,609

Taxation and social security

2,423

5,834

Other creditors

51,209

27,270

53,632

49,713

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

€

€

Other creditors

31,006,874

72,830,624

9.

LOANS

An analysis of the maturity of loans is given below:

31.12.24

31.12.23

€

€

Amounts falling due between two and five years:

Group loans - 2-5 years

31,006,874

72,830,624

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

€

€

32,871,840

Ordinary

£1

38,454,692

954,692

32,170,840 Ordinary shares of £1 were issued during the year as part of a loan conversion with the parent company.

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

The Report of the Auditors was unqualified.

Jamie Taylor (Senior Statutory Auditor)

for and on behalf of Harris & Trotter LLP

12.	RELATED PARTY DISCLOSURES

Ramola Trust

The ultimate controlling party.

During the year, the group instructed the company to settle invoices amounting to €67,259 in relation to Trust administration services.

31.12.24

31.12.23

€

€

Amount due from related party at the balance sheet date

67,259

-

SIA Park Lane

A wholly owned subsidiary.

31.12.24

31.12.23

€

€

Amount due from related party at the balance sheet date

22,492,667

23,335,967

Monteflower D.O.O

A wholly owned subsidiary.

31.12.24

31.12.23

€

€

Amount due from related party at the balance sheet date

1,349,261

1,389,261

Profinance Enterprises S.A

The parent company.

31.12.24

31.12.23

€

€

Amount due to related party at the balance sheet date

31,006,874

72,830,624

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Ramola Trust which is based in Singapore.

Registered office address:

51 Mt Sinai Dr

02-02 Ridgewood Condo

Singapore

277107

14.	PARENT COMPANY

The company is a wholly owned subsidiary of Profinance Enterprises S.A. which is controlled by Ramola Trust.

Registered office address:

Vistra Corporate Services Centre

Wickhams Cay II

Road Town

Tortola

VG1110

British Virgin Islands

Represented by its corporate director, Nuevo Directors Ltd.