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REGISTERED NUMBER: 10571999 (England and Wales)

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 JANUARY 2025 |

| FOR |

| ANSS DEVELOPMENT LIMITED |

ANSS DEVELOPMENT LIMITED (REGISTERED NUMBER: 10571999) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| ANSS DEVELOPMENT LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 JANUARY 2025

| DIRECTOR: | N Sidikov

| REGISTERED OFFICE: | Riverbank House

| 2 Swan Lane

| London

| EC4R 3TT

| REGISTERED NUMBER: | 10571999 (England and Wales)

| ACCOUNTANTS: | AGK Partners

| Chartered Accountants

| 1 Kings Avenue

| Winchmore Hill

| London

| N21 3NA

ANSS DEVELOPMENT LIMITED (REGISTERED NUMBER: 10571999) |

BALANCE SHEET

31 JANUARY 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investments | 4 | 13,100,000 |  | 13,100,000 |  |

CURRENT ASSETS

Inventories | 36,081,119 |  | 45,721,288 |  |

Debtors | 5 | 3,224,064 |  | 320,483 |  |

Cash at bank | 12,853 |  | 151,448 |  |

39,318,036 |  | 46,193,219 |  |

CREDITORS

Amounts falling due within one year | 6 | 14,207,271 |  | 14,181,023 |  |

NET CURRENT ASSETS | 25,110,765 |  | 32,012,196 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 38,210,765 |  | 45,112,196 |  |

CREDITORS

Amounts falling due after more than one year | 7 | 52,350,015 |  | 51,210,643 |  |

NET LIABILITIES | (14,139,250 | ) | (6,098,447 | ) |

CAPITAL AND RESERVES

Called up share capital | 1,000 |  | 1,000 |  |

Retained earnings | (14,140,250 | ) | (6,099,447 | ) |

(14,139,250 | ) | (6,098,447 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 8 January 2026 and were signed by:

N Sidikov - Director

ANSS DEVELOPMENT LIMITED (REGISTERED NUMBER: 10571999) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

1. | STATUTORY INFORMATION

| ANSS Development 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 (£).

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 of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The financial statements have been prepared on a going concern basis as the director is satisfied that the company will have adequate resources to meet it's liabilities to third parties as they fall due. The officers of the company will continue to finance the company as and when required.

| Preparation of consolidated financial statements

| The financial statements contain information about ANSS Development Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

| Significant judgements and estimates

| In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. There are no significant judgements or estimates involved in the preparation of 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.

| Investments in subsidiaries

| Investments in subsidiary undertakings are measured at cost less accumulated impairment losses. Cost includes the fair value of the consideration given, including any directly attributable transaction costs.

| If there is an indication that an investment in a subsidiary has suffered impairment, the carrying amount is reviewed and, if necessary, adjusted to reflect the revised recoverable amount. Impairment losses and reversals of impairment losses are recognised in profit or loss in the period in which they occur.

| Inventories

| Inventories are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost includes purchase costs of the property, capitalised interest and borrowing costs on loans used to fund the property development and all development expenditure incurred for the property after acquisition.

| At each balance sheet date, inventories are assessed for impairment. If inventories is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the statement of comprehensive income.

ANSS DEVELOPMENT LIMITED (REGISTERED NUMBER: 10571999) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JANUARY 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Basic financial assets and liabilities, which include debtors, creditors, 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 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.

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 1 (2024 - 1 ) .

4. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 February 2024

| and 31 January 2025 | 13,100,000 |  |

| NET BOOK VALUE

| At 31 January 2025 | 13,100,000 |  |

| At 31 January 2024 | 13,100,000 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Other debtors | 3,224,064 |  | 320,483 |  |

ANSS DEVELOPMENT LIMITED (REGISTERED NUMBER: 10571999) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JANUARY 2025

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 11,400 |  | 5,273 |  |

| Amounts owed to group undertakings | 13,091,836 |  | 13,091,836 |  |

| Amounts owed to connected companies | 350,300 |  | 350,300 |  |

| Taxation and social security | - |  | 16,691 |  |

| Other creditors | 753,735 |  | 716,923 |  |

14,207,271 |  | 14,181,023 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans | 17,188,183 |  | 20,169,139 |  |

| Other creditors | 35,161,832 |  | 31,041,504 |  |

52,350,015 |  | 51,210,643 |  |

8. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank loans | 17,188,183 |  | 20,169,139 |  |

| Other loans | 21,081,172 |  | 17,843,034 |  |

38,269,355 |  | 38,012,173 |  |

| Loans are secured by way of fixed and floating charges over the property or undertaking of the company and contain negative pledge.

9. | LOAN NOTES

| Loan notes are repayable not later than three years from the date of completion of the redevelopment of Broadmead House and bare interest of 10% per annum and a share of profits of the development.

10. | RELATED PARTY DISCLOSURES

| Included in creditors, falling due within one year, is an amount of £13,091,836 (2024 - £13,091,836) owed to a group undertaking. This loan was interest free and repayable on demand.

| Included in creditors, falling due within one year, is an amount of £350,300 (2024 - £350,300) owed to a connected company. This loan was interest free and repayable on demand.