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REGISTERED NUMBER: 11381696 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2025

for

IPIS Estates Ltd

IPIS Estates Ltd (Registered number: 11381696)

Contents of the Financial Statements

for the Year Ended 31 May 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Report of the Accountant | 7 |

IPIS Estates Ltd

Company Information

for the Year Ended 31 May 2025

| DIRECTOR: | D C T CRIPPS

| REGISTERED OFFICE: | 25 High Street

| Ramsey

| Huntingdon

| PE26 2QE

| REGISTERED NUMBER: | 11381696 (England and Wales)

| ACCOUNTANT: | Bala Ltd

| Chartered Certified

| Accountants

| 14 Ravensbury Avenue

| Morden

| Surrey

| SM4 6ET

IPIS Estates Ltd (Registered number: 11381696)

Balance Sheet

31 May 2025

| 31.5.25 | 31.5.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investment property | 4 | 2,352,083 |  | 1,724,901 |  |

CURRENT ASSETS

Debtors | 5 | 105,146 |  | 192,105 |  |

Cash at bank | 83,565 |  | 17,012 |  |

188,711 |  | 209,117 |  |

CREDITORS

Amounts falling due within one year | 6 | 498,900 |  | 395,194 |  |

NET CURRENT LIABILITIES | (310,189 | ) | (186,077 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,041,894 |  | 1,538,824 |  |

CREDITORS

Amounts falling due after more than one year | 7 | 2,217,022 |  | 1,570,921 |  |

NET LIABILITIES | (175,128 | ) | (32,097 | ) |

CAPITAL AND RESERVES

Called up share capital | 9 | 1 |  | 1 |  |

Retained earnings | (175,129 | ) | (32,098 | ) |

SHAREHOLDERS' FUNDS | (175,128 | ) | (32,097 | ) |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

IPIS Estates Ltd (Registered number: 11381696)

Balance Sheet - continued

31 May 2025

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 6 March 2026 and were signed by:

D C T CRIPPS - Director

IPIS Estates Ltd (Registered number: 11381696)

Notes to the Financial Statements

for the Year Ended 31 May 2025

1. | STATUTORY INFORMATION

| IPIS Estates Ltd 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.

| Turnover

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

| Turnover comprises revenue recognised by the company in respect of rented properties let during the year.

| Revenue recognised over the terms of the related tenancy agreements.

| Investment property

| Investment property is carried at fair value determined annually by the director 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. Changes in the fair value are recognised in the Income Statement.

| 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.

IPIS Estates Ltd (Registered number: 11381696)

Notes to the Financial Statements - continued

for the Year Ended 31 May 2025

2. | ACCOUNTING POLICIES - continued

| Revaluation of tangible fixed assets

| Individual freehold and leasehold properties are carried at the current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Balance Sheet date.

| Fair value are determined from market based evidence normally undertaken by professionally qualified valuers.

| Revaluation gains and losses are recognised in the Income Statement unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in the profit and loss account.

| Finance costs

| Finance costs are charged to Income Statements over the terms of the debt using the effective interest method so that the amount charged is at the constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instruments.

| Borrowing costs

| All borrowing costs are recognised in the Income Statement in the year in which they are incurred.

3. | EMPLOYEES AND DIRECTORS

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

4. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 June 2024 | 1,724,901 |  |

| Additions | 627,182 |  |

| At 31 May 2025 | 2,352,083 |  |

| NET BOOK VALUE

| At 31 May 2025 | 2,352,083 |  |

| At 31 May 2024 | 1,724,901 |  |

| At the year end, the investment properties above have a cost of £2,352,083 (2024: £1,724,901)

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

| 31.5.25 |  | 31.5.24

£ | £ |

| Amounts owed by associates | 92,000 |  | 87,500 |  |

| Other debtors | 13,146 |  | 104,605 |  |

105,146 |  | 192,105 |  |

IPIS Estates Ltd (Registered number: 11381696)

Notes to the Financial Statements - continued

for the Year Ended 31 May 2025

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

| 31.5.25 |  | 31.5.24

£ | £ |

| Amounts owed to associates | 493,400 |  | 343,400 |  |

| Other creditors | 2,500 |  | - |  |

| Directors' current accounts | - |  | 48,794 |  |

| Accruals and deferred income | 3,000 |  | 3,000 |  |

498,900 |  | 395,194 |  |

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

| 31.5.25 |  | 31.5.24

£ | £ |

| Bank loans more 5 yrs non-inst | 2,217,022 |  | 1,570,921 |  |

| Amounts falling due in more than five years:

| Repayable otherwise than by instalments

| Bank loans more 5 yrs non-inst | 2,217,022 |  | 1,570,921 |  |

8. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.5.25 |  | 31.5.24

£ | £ |

| Bank loans | 2,217,022 |  | 1,570,921 |  |

| Bank loans are secured by a first legal charge over the investment properties relating to the bridging loans or mortgages. The copies of legal charges against the properties can be obtained at the Registered Office.

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.5.25 |  | 31.5.24

| value: | £ | £ |

| 1 | Ordinary | £1 | 1 |  | 1 |  |

10. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is D C T CRIPPS.

| At the year end, the following balances were due from or owed to the Shareholder or companies under common

| ownership.

| Related Party |  | Description |  | 2025 |  | 2024 |

| £ |  | £ |  |

| Foremasons Limited |  | Loan payable |  | (493,400 | ) | (343,400 | )

| DC Turnkey |  | Loan receivable |  | 92,000 |  | 87,500 |

IPIS Estates Ltd

Report of the Accountant to the Director of

IPIS Estates Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 May 2025 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to me.

Bala Ltd

Chartered Certified

Accountants

14 Ravensbury Avenue

Morden

Surrey

SM4 6ET

Date: .............................................