PROSPER UK DEVELOPMENT LTD

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

PROSPER UK DEVELOPMENT LTD is a private company, limited by shares, incorporated in England & Wales, registered number 14921682 . The registered office is Unit1 17 Castle Street, Chester, CH1 2DS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

25% Straight Line

2.4. Investment Properties

All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.

2.5. Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments FRS 102' to all of its financial instrument.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liability are offset, with the net amounts present in the financial statements, when there is a legal enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balance, and initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidence a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitute a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instrument are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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PROSPER UK DEVELOPMENT LTD

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

2.6. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: 1)

4. Tangible Assets

	Fixtures & Fittings
	£
Cost or Valuation
As at 1 July 2024	36,240

As at 30 June 2025	36,240

Depreciation
As at 1 July 2024	7,666
Provided during the period	9,060

As at 30 June 2025	16,726

Net Book Value
As at 30 June 2025	19,514

As at 1 July 2024	28,574

5. Investment Property

	30 June 2025
	£
Fair Value
As at 1 July 2024	3,835,000
Fair value adjustments	65,000

As at 30 June 2025	3,900,000

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PROSPER UK DEVELOPMENT LTD

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

6. Debtors

	30 June 2025	30 June 2024
	£	£
Due within one year
Prepayments and accrued income	430,066	432,435
Other debtors	18,033	19,446
Deferred tax current asset	116,320	128,670
Called up share capital not paid	1	1

	564,420	580,552

7. Creditors: Amounts Falling Due Within One Year

	30 June 2025	30 June 2024
	£	£
Trade creditors	(1 )	-
Other creditors	859,399	864,109
Taxation and social security	7,504	2,525

	866,902	866,634

8. Creditors: Amounts Falling Due After More Than One Year

	30 June 2025	30 June 2024
	£	£
Other loans	4,152,539	4,200,000

9. Share Capital

	30 June 2025	30 June 2024
	£	£
Called Up Share Capital not Paid	1	1

Amount of Allotted, Called Up Share Capital	1	1

10. Reserves

	Revaluation Reserve
	£
Net investment property revaluation reserve	(612,211 )

As at 30 June 2025	(612,211 )

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PROSPER UK DEVELOPMENT LTD

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

11. Related Party Transactions

At the start of the accounting year, the opening balances of loans owed by the company were as follows:

• Loan owed to the related party Yan Nei Ng: £4,200,000

• Loan owed to the director Kai Man Kevin Ng: £784,457.36

During the year, the company made the following payments:

• To Yan Nei Ng: £47,461.37 was repaid as principal, and £71,923.29 was paid as interest.

• To Kai Man Kevin Ng: £24,792.49 was repaid.

At the end of the accounting year, the closing balances of loans owed by the company were as follows:

• Loan owed to Yan Nei Ng: £4,152,538.63, comprising:

- £2,952,538.63 bearing interest at 2.5% per annum, and

- £1,200,000 which is interest-free.

• Loan owed to Kai Man Kevin Ng: £759,664.87.

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		30 June 2025		30 June 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		19,514		28,574
Investment Properties	5		3,900,000		3,835,000

			3,919,514		3,863,574
CURRENT ASSETS
Debtors	6	564,420		580,552
Cash at bank and in hand		80,095		91,268

		644,515		671,820
Creditors: Amounts Falling Due Within One Year	7	(866,902 )		(866,634 )

NET CURRENT ASSETS (LIABILITIES)			(222,387 )		(194,814 )

TOTAL ASSETS LESS CURRENT LIABILITIES			3,697,127		3,668,760

Creditors: Amounts Falling Due After More Than One Year	8		(4,152,539 )		(4,200,000 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(14,763 )		(14,385 )

NET LIABILITIES			(470,175 )		(545,625 )

CAPITAL AND RESERVES
Called up share capital	9		1		1
Revaluation reserve	10		(612,211 )		-
Profit and Loss Account			142,035		(545,626 )

SHAREHOLDERS' FUNDS			(470,175)		(545,625)