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REGISTERED NUMBER: 01722292 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 April 2025

for

BES Properties Limited

BES Properties Limited (Registered number: 01722292)

Contents of the Financial Statements

for the Year Ended 30 April 2025

Page |

Company Information | 1 |

Report of the Directors | 2 |

Income Statement | 3 |

Statement of Financial Position | 4 |

Notes to the Financial Statements | 5 |

BES Properties Limited

Company Information

for the Year Ended 30 April 2025

| DIRECTORS: | R L Kaffel

| A M Thomas

| REGISTERED OFFICE: | The Roma Building 32/38 Scrutton Street

| Bishopsgate

| London

| EC2A 4RQ

| REGISTERED NUMBER: | 01722292 (England and Wales)

BES Properties Limited (Registered number: 01722292)

Report of the Directors

for the Year Ended 30 April 2025

The directors present their report with the financial statements of the company for the year ended 30 April 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of property investment.

DIRECTORS

R L Kaffel has held office during the whole of the period from 1 May 2024 to the date of this report.

Other changes in directors holding office are as follows:

G A Burns - resigned 31 May 2024

A M Thomas - appointed 31 May 2024

GOING CONCERN

The directors have reviewed the company’s financial position and are confident that the company has sufficient resources to continue its operations for the foreseeable future. As such, these accounts have been prepared on a going concern basis.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

R L Kaffel - Director

21 January 2026

BES Properties Limited (Registered number: 01722292)

Income Statement

for the Year Ended 30 April 2025

| 2025 |  | 2024

| Notes | £ | £ |

Revenue | 214,102 |  | 216,593 |  |

Cost of sales | (46,957 | ) | (18,641 | ) |

Gross profit | 167,145 |  | 197,952 |  |

Administrative expenses | (107,620 | ) | (225,701 | ) |

Operating profit/(loss) | 59,525 |  | (27,749 | ) |

Interest receivable and similar income | - |  | 19,032 |  |

59,525 |  | (8,717 | ) |

Gain/loss on revaluation of

Investment Property | - |  | 2,571,138 |  |

Profit before taxation | 59,525 |  | 2,562,421 |  |

Tax on profit | 4 | (11,997 | ) | - |  |

Profit for the financial year | 47,528 |  | 2,562,421 |  |

BES Properties Limited (Registered number: 01722292)

Statement of Financial Position

30 April 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

Fixed assets

Property, plant and equipment | 5 | - |  | - |  |

Investment property | 6 | 4,257,000 |  | 4,250,000 |  |

4,257,000 |  | 4,250,000 |  |

Current assets

Debtors | 7 | 11,225 |  | 9,993 |  |

Cash at bank | 8 | 175,726 |  | 121,396 |  |

186,951 |  | 131,389 |  |

Creditors

Amounts falling due within one year | 9 | 53,134 |  | 42,703 |  |

Net current assets | 133,817 |  | 88,686 |  |

Total assets less current liabilities | 4,390,817 |  | 4,338,686 |  |

Provisions for liabilities | 10 | 31,286 |  | 26,683 |  |

Net assets | 4,359,531 |  | 4,312,003 |  |

Capital and reserves

Called up share capital | 11 | 120 |  | 120 |  |

Fair value reserve | 12 | 2,571,138 |  | 2,571,138 |  |

Retained earnings | 12 | 1,788,273 |  | 1,740,745 |  |

Shareholders' funds | 4,359,531 |  | 4,312,003 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

The financial statements were approved by the Board of Directors and authorised for issue on 21 January 2026 and were signed on its behalf by:

R L Kaffel - Director

BES Properties Limited (Registered number: 01722292)

Notes to the Financial Statements

for the Year Ended 30 April 2025

1. | Statutory information

| BES 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.

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 as modified by the revaluation of certain assets.

| Going concern

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

| Turnover

| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Taxation

| Taxation for the year comprises current 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 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 statement of financial position date.

BES Properties Limited (Registered number: 01722292)

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

2. | Accounting policies - continued

| Deferred tax

| 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 income statement, 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 directors believe that gains and losses on property sales are likely to be offset over time, and have therefore netted the deferred tax in relation to revaluation gains and losses.

| Deferred tax assets and liabilities are not discounted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on the tax rates and laws enacted or substantially enacted at the statement of financial position date.

BES Properties Limited (Registered number: 01722292)

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

2. | Accounting policies - continued

| Cash at bank and in hand

| Cash and cash equivalents are basic financial instruments 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.

| Financial instruments

| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

| Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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

| Basic financial assets, which include trade and other debtors and cash and bank balances, are 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

| Classification of financial liabilities

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

| Basic financial liabilities

| Basic financial liabilities, including trade and other creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

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

| Equity instruments

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

3. | Employees and directors

| The average number of employees during the year was NIL (2024 - NIL).

4. | Taxation

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 7,394 |  | - |  |

| Deferred tax | 4,603 |  | - |  |

| Tax on profit | 11,997 |  | - |  |

BES Properties Limited (Registered number: 01722292)

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

5. | Property, plant and equipment

| Plant and

| machinery

| etc

£ |

| Cost

| At 1 May 2024

| and 30 April 2025 | 6,273 |  |

| Depreciation

| At 1 May 2024

| and 30 April 2025 | 6,273 |  |

| Net book value

| At 30 April 2025 | - |  |

6. | Investment property

| Total

£ |

| Fair value

| At 1 May 2024 | 4,250,000 |  |

| Additions | 7,000 |  |

| At 30 April 2025 | 4,257,000 |  |

| Net book value

| At 30 April 2025 | 4,257,000 |  |

| At 30 April 2024 | 4,250,000 |  |

7. | Debtors: amounts falling due within one year |

2025 | 2024 |

£ | £ |

| Prepayments and accrued income | 11,225 |  | 9,993 |  |

8. | Cash at bank

2025 | 2024 |

£ | £ |

| Bank deposit account | 175,726 |  | 121,396 |  |

9. | Creditors: amounts falling due within one year |

2025 | 2024 |

£ | £ |

| Trade creditors | 3,150 |  | 896 |  |

| Tax | 7,394 |  | - |  |

| VAT | 1,092 |  | 1,434 |  |

| Accruals and deferred income | 41,498 |  | 40,373 |  |

53,134 |  | 42,703 |  |

BES Properties Limited (Registered number: 01722292)

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

10. | Provisions for liabilities

2025 | 2024 |

£ | £ |

| Deferred tax | 31,286 |  | 26,683 |  |

| Deferred |

| tax |

£ |

| Balance at 1 May 2024 | 26,683 |  |

| Timing differences | 4,603 |  |

| Balance at 30 April 2025 | 31,286 |  |

11. | Called up share capital

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 120 | Ordinary Share | £1 | 120 |  | 120 |  |

12. | Reserves

| Fair |

| Retained |  | value |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 May 2024 | 1,740,745 |  | 2,571,138 |  | 4,311,883 |  |

| Profit for the year | 47,528 |  | 47,528 |  |

| At 30 April 2025 | 1,788,273 |  | 2,571,138 |  | 4,359,411 |  |