REGISTERED NUMBER: 15462022 (England and Wales)

FOR

Page

Company Information  

1

Report of the Directors  

2

Report of the Independent Auditors  

4

Statement of Profit or Loss and Other Comprehensive

Income

8

Statement of Financial Position  

9

Statement of Changes in Equity  

10

Statement of Cash Flows  

11

Notes to the Statement of Cash Flows  

12

Notes to the Financial Statements

13

DIRECTORS:

M Leiba

R Elchanan

REGISTERED OFFICE:

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

REGISTERED NUMBER:

15462022 (England and Wales)

AUDITORS:

Melinek Fine LLP

Chartered Accountants

Statutory Auditors

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

The directors present their report with the financial statements of the company for the period 2 February 2024 to 28 February 2025.  

INCORPORATION

The company was incorporated on 2 February 2024 .

PRINCIPAL ACTIVITY

REVIEW OF BUSINESS

The results for the Period are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

DIVIDENDS

No dividends will be distributed for the period ended 28 February 2025.

DIRECTORS

The directors who have held office during the period from 2 February 2024 to the date of this report are as follows:

A H Gershon - appointed 2 February 2024 - resigned 29 January 2025

M Leiba - appointed 16 April 2024

R Elchanan - appointed 20 February 2025

Both the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

AUDITORS

The auditors,  Melinek Fine LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M Leiba - Director

30 December 2025

Opinion

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report.  We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-

the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-

the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-

the financial statements are not in agreement with the accounting records and returns; or

-

certain disclosures of directors' remuneration specified by law are not made; or

-

we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in  line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including  fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including  fraud and non-compliance with laws and regulations, was as follows:

· the engagement partner ensured that the engagement team collectively had the appropriate competence,  capabilities and skills to identify or recognize non-compliance with applicable laws and regulations;

· we identified the laws and regulations applicable to the company through discussions with directors and  other management, and from our commercial knowledge and experience of the sector;

· we focused on specific laws and regulations which we considered may have a direct material effect on the  financial statements or the operations of the company, including the Constitution of the Company, Companies Act 2006, UK Adopted IFRSs, taxation  legislation, including compliance with customs regulations, laws and regulations relevant to the renting of residential property in the United Kingdom, data protection, anti-bribery, employment, and  health and safety legislation;

· we assessed the extent of compliance with the laws and regulations identified above through making  enquiries of management and inspecting legal correspondence; and

· identified laws and regulations were communicated within the audit team regularly and the team remained  alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining  an understanding of how fraud might occur, by:

· making enquiries of management as to where they considered there was susceptibility to fraud, their  knowledge of actual, suspected and alleged fraud; and

· obtaining an understanding of the policies and procedures including internal controls in place to mitigate  risks of fraud and non-compliance with laws and regulations in order to design audit procedures that are  appropriate in the circumstances (but not for the purpose of expressing an opinion on the effectiveness of  the company's internal control).

To address the risk of fraud through management bias and override of controls, we:

· identified and assessed the risks of material misstatement of the financial statements, whether due to fraud  or error, design and performed audit procedures responsive to those risks, and obtained audit evidence  that is sufficient and appropriate to provide a basis for our opinion

· performed analytical procedures to identify any unusual or unexpected relationships;

· tested journal entries in the reporting period and up to the date of the signing of the audit report to identify unusual transactions;

· assessed whether judgements and assumptions made in determining the accounting estimates in relation  to revenue recognition, impairment of investment properties, the depreciation methodology applied to investment properties and recoverability of receivable; and

· investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures  which included, but were not limited to:

· evaluating the appropriateness of accounting policies used and the reasonableness of accounting  estimates and related disclosures made by the directors;

· evaluating the overall presentation, structure and content of the financial statements, including the  disclosures, and whether the financial statements represent the underlying transactions and events in a  manner that achieves fair presentation (i.e. gives a true and fair view);

· reading the minutes of meetings of those charged with governance;

· enquiring of management as to actual and potential litigation and claims;

· reviewing correspondence with HMRC and the company's legal advisors; and

· Concluding on the appropriateness of the directors' use of the going concern basis of accounting and,  based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions  that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that  a material uncertainty exists, we are required to draw attention in our auditor's report to the related  disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our  conclusions are based on the audit evidence obtained up to the date of our auditor's report. However,  future events or conditions may cause the company to cease to continue as a going concern.

There are inherent limitations in our audit procedures described above. The more removed that laws and  regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.  Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to  enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve collusion, forgery, deliberate concealment and omissions, misrepresentations, or the override of internal  control.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Aryeh Melinek (Senior Statutory Auditor)

for and on behalf of Melinek Fine LLP

Chartered Accountants

Statutory Auditors

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

30 December 2025

CONTINUING OPERATIONS

Revenue

166,604

Cost of sales

(23,493

)

GROSS PROFIT

143,111

Administrative expenses

(37,928

)

OPERATING PROFIT

105,183

Finance costs

5

(295,037

)

LOSS BEFORE INCOME TAX

6

(189,854

)

Income tax

7

-

LOSS FOR THE PERIOD

(189,854

)

OTHER COMPREHENSIVE INCOME

-

TOTAL COMPREHENSIVE INCOME FOR

THE PERIOD

(189,854

)

ASSETS

NON-CURRENT ASSETS

Investment property

8

3,067,731

CURRENT ASSETS

Trade and other receivables

9

112,990

Cash and cash equivalents

10

68,904

181,894

TOTAL ASSETS

3,249,625

EQUITY

SHAREHOLDERS' EQUITY

Called up share capital

11

1

Share premium

12

314,718

Retained earnings

12

(189,854

)

TOTAL EQUITY

124,865

LIABILITIES

NON-CURRENT LIABILITIES

Trade and other payables

13

3,048,053

CURRENT LIABILITIES

Trade and other payables

13

76,707

TOTAL LIABILITIES

3,124,760

TOTAL EQUITY AND LIABILITIES

3,249,625

The financial statements were approved by the Board of Directors and authorised for issue on 30 December 2025 and were signed on its behalf by:

M Leiba - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£   

£   

£   

£   

Changes in equity

Issue of share capital

1

-

314,718

314,719

Total comprehensive income

-

(189,854

)

-

(189,854

)

Balance at 28 February 2025

1

(189,854

)

314,718

124,865

Cash flows from operating activities

Cash generated from operations

1

91,728

Interest paid

(295,037

)

Net cash from operating activities

(203,309

)

Cash flows from investing activities

Purchase of investment property

(3,090,559

)

Net cash from investing activities

(3,090,559

)

Cash flows from financing activities

New loans in year

3,048,053

Share issue

314,719

Net cash from financing activities

3,362,772

Increase in cash and cash equivalents

68,904

Cash and cash equivalents at beginning

of period

2

-

Cash and cash equivalents at end of

period

2

68,904

1.

RECONCILIATION OF LOSS BEFORE INCOME TAX TO CASH GENERATED FROM OPERATIONS

£   

Loss before income tax

(189,854

)

Depreciation charges

22,828

Finance costs

295,037

128,011

Increase in trade and other receivables

(112,990

)

Increase in trade and other payables

76,707

Cash generated from operations

91,728

2.

CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Period ended 28 February 2025

28.2.25

2.2.24

£   

£   

Cash and cash equivalents

68,904

-

1.

STATUTORY INFORMATION

Uk Beam Holdings No 11 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 principal place of business is Handle House, 95 High Street, Edgware, Middlesex, HA8 7DB. The company's principal activities and nature of its operations are disclosed in the directors' report.

2.

ACCOUNTING POLICIES

Basis of preparation

These financial statements have been prepared in accordance with UK-adopted international accounting standards and with those parts of the Companies Act 2006 applicable to companies reporting under IFRS. The financial statements have been prepared under the historical cost convention.  

Revenue recognition

Cash and cash equivalents

Cash represents cash in hand and deposits held on demand with financial institutions. Cash equivalents are short-term, highly-liquid investments with original maturities of three months or less (as at their date of acquisition).  Cash equivalents are readily convertible to known amounts of cash and subject to an insignificant risk of change in that cash value.

In the presentation of the Statement of Cash Flows, cash and cash equivalents also include bank overdrafts. Any such overdrafts are shown within borrowings under ‘current liabilities’ on the Statement of Financial Position.

Investment property

Taxation

Financial assets

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets are classified into specified categories, depending on the nature and purpose of the financial assets.

At initial recognition, financial assets classified as fair value through profit and loss are measured at fair value and any transaction costs are recognised in profit or loss. Financial assets not classified as fair value through profit and loss are initially measured at fair value plus transaction costs.The company only has financial assets held at amortised cost.

Financial assets at fair value through profit or loss

When any of the above-mentioned conditions for classification of financial assets is not met, a financial asset is classified as measured at fair value through profit or loss. Financial assets measured at fair value through profit or loss are recognized initially at fair value and any transaction costs are recognised in profit or loss when incurred. A gain or loss on a financial asset measured at fair value through profit or loss is recognised in profit or loss, and is included within finance income or finance costs in the statement of income for the reporting period in which it arises.

Financial assets held at amortised cost

Financial instruments are classified as financial assets measured at amortised cost where the objective is to hold these assets in order to collect contractual cash flows, and the contractual cash flows are solely payments of principal and interest. They arise principally from the provision of goods and services to customers (eg trade receivables). They are initially recognised at fair value plus transaction costs directly attributable to their acquisition or issue, and are subsequently carried at amortised cost using the effective interest rate method, less provision for impairment where necessary.

Financial assets at fair value through other comprehensive income

Debt instruments are classified as financial assets measured at fair value through other comprehensive income where the financial assets are held within the company’s business model whose objective is achieved by both collecting contractual cash flows and selling financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

A debt instrument measured at fair value through other comprehensive income is recognised initially at fair value plus transaction costs directly attributable to the asset. After initial recognition, each asset is measured at fair value, with changes in fair value included in other comprehensive income. Accumulated gains or losses recognised through other comprehensive income are directly transferred to profit or loss when the debt instrument is derecognised.

The company has made an irrevocable election to recognize changes in fair value of investments in equity instruments through other comprehensive income, not through profit or loss. A gain or loss from fair value changes will be shown in other comprehensive income and will not be reclassified subsequently to profit or loss. Equity instruments measured at fair value through other comprehensive income are recognized initially at fair value plus transaction cost directly attributable to the asset. After initial recognition, each asset is measured at fair value, with changes in fair value included in other comprehensive income. Accumulated gains or losses recognized through other comprehensive income are directly transferred to retained earnings when the equity instrument is derecognized or its fair value substantially decreased. Dividends are recognized as finance income in profit or loss.

Impairment of financial assets

Financial assets carried at amortised cost are assessed for indicators of impairment at each reporting end date.

The expected credit losses associated with these assets are estimated on a forward-looking basis. A broad range of information is considered when assessing credit risk and measuring expected credit losses, including past events, current conditions, and reasonable and supportable forecasts that affect the expected collectability of the future cash flows of the instrument.

For trade receivables, the simplified approach permitted by IFRS 9 is applied, which requires expected lifetime losses to be recognised from initial recognition of the receivables.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Financial liabilities

The company recognises financial debt when the company becomes a party to the contractual provisions of  the instruments. Financial liabilities are classified as either 'financial liabilities at fair value through profit or loss' or 'other financial liabilities'.

Other financial liabilities

Other financial liabilities, including borrowings, trade payables and other short-term monetary liabilities, are initially measured at fair value net of transaction costs directly attributable to the issuance of the financial liability. They are subsequently measured at amortised cost using the effective interest method. For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

4.

EMPLOYEES AND DIRECTORS

There were no staff costs for the period ended 28 February 2025.

The average number of employees during the period was as follows:

Employees (including directors)

2

£   

Directors' remuneration

-

5.

NET FINANCE COSTS

£   

Finance costs:

Other loan interest

295,037

6.

LOSS BEFORE INCOME TAX

The loss before income tax is stated after charging:

£   

Depreciation - owned assets

22,828

Audits' Remuneration  

5,000

7.

INCOME TAX

Analysis of tax expense

No liability to UK corporation tax arose for the period.

Factors affecting the tax expense

The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

£   

Loss before income tax

(189,854

)

Loss multiplied by the standard rate of corporation tax in the UK of 25%  

(47,464

)

Effects of:

Disallowable expenses  

5,707

Loss carry forward  

41,757

Tax expense

-

8.

INVESTMENT PROPERTY

Total

£