REGISTERED NUMBER: 10597540 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Navis Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J A Heinrich

C R Nichol

SECRETARY:

Elemental Company Secretary Limited

REGISTERED OFFICE:

27 Old Gloucester Street

London

United Kingdom

WC1N 3AX

REGISTERED NUMBER:

10597540 (England and Wales)

AUDITORS:

Harts Limited

Westminster House

10 Westminster Road

Macclesfield

Cheshire

SK10 1BX

CURRENT ASSETS

Debtors

5

119

115

Cash at bank

12,652

12,969

12,771

13,084

CREDITORS

Amounts falling due within one year

6

18,363

51,049

NET CURRENT LIABILITIES

(5,592

)

(37,965

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,592

)

(37,965

)

CAPITAL AND RESERVES

Called up share capital

7

110

100

Share premium

45,064

3,574

Retained earnings

(50,766

)

(41,639

)

SHAREHOLDERS' FUNDS

(5,592

)

(37,965

)

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 23 December 2025 and were signed on its behalf by:

C R Nichol - Director

1.	STATUTORY INFORMATION

Navis Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The place of business is 15 Rathbone Street, London W1T 1NB.

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.

Foreign currencies

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

Going concern

After reviewing the company's financial situation, the directors have a reasonable expectation that the company has adequate resources, including the continuing financial support of its long term intra-group lenders and parent company, to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business. Creditors are recognised initially ar fair value and subsequently measured at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

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

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

1,968

1,272

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

119

115

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

6,924

4,481

Amounts owed to group undertakings

9,939

2,876

Other creditors

1,500

43,692

18,363

51,049

7.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

1,000

Share capital 1

0.1

110

100

On 31 January 2024 an intercompany loan of €48,634.52 owed to the parent company was converted into equity through the issue of 100 new ordinary shares of £0.10 each at par. As a result, the outstanding loan liability was extinguished and recorded as an increase in share capital and share premium.

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

The Report of the Auditors was unqualified.

Melissa Bowers FCCA (Senior Statutory Auditor)

for and on behalf of Harts Limited

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Argo Holding GmbH, a company incorporated in Germany whose registered office is at Kienberger Allee 4, 12529, Schoenefeld, Germany.

10.	NAVIS INVESTMENTS LP

Navis Properties Ltd is the General Partner of Navis Investments LP. The company legally holds the title for a property at 15 Rathbone Street, W1T 1NB ("The Property") on behalf of the Limited Partner. The Limited Partner is the beneficial owner of this property and therefore the asset is recognised in the accounts of the Limited Partner. HSBC UK Bank PLC holds charges over The Property, which remain outstanding at the date of this report.