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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

FOR

RIFCO PROPERTIES LTD

| RIFCO PROPERTIES LTD (REGISTERED NUMBER: 01059189) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| RIFCO PROPERTIES LTD |

COMPANY INFORMATION

FOR THE YEAR ENDED 30 SEPTEMBER 2025

| DIRECTORS: | C Rifat

| Mrs V E Gray

| SECRETARY: | C Rifat

| REGISTERED OFFICE: | 2 Cranbourne Road

| Muswell Hill

| London

| N10 2BT

| REGISTERED NUMBER: | 01059189 (England and Wales)

| ACCOUNTANTS: | Zenith Advisory

| Chartered Accountants

| Chancellors House

| 3 Brampton Lane

| Hendon

| London

| NW4 4AB

| RIFCO PROPERTIES LTD (REGISTERED NUMBER: 01059189) |

BALANCE SHEET

30 SEPTEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 11,501,790 |  | 14,501,471 |  |

CURRENT ASSETS

Debtors | 5 | 634,343 |  | 287,590 |  |

Investments | 6 | 5,009,970 |  | 3,644,745 |  |

Cash at bank | 105,400 |  | 46,631 |  |

5,749,713 |  | 3,978,966 |  |

CREDITORS

Amounts falling due within one year | 7 | 284,218 |  | 444,188 |  |

NET CURRENT ASSETS | 5,465,495 |  | 3,534,778 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 16,967,285 |  | 18,036,249 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (30,675 | ) | (1,590,675 | ) |

PROVISIONS FOR LIABILITIES | 9 | (1,130,060 | ) | (1,045,538 | ) |

NET ASSETS | 15,806,550 |  | 15,400,036 |  |

CAPITAL AND RESERVES

Called up share capital | 30,500 |  | 30,500 |  |

Share premium | 230,100 |  | 230,100 |  |

Capital redemption reserve | 19,500 |  | 19,500 |  |

Fair value reserve | 10 | 5,614,605 |  | 5,663,190 |  |

Retained earnings | 9,911,845 |  | 9,456,746 |  |

15,806,550 |  | 15,400,036 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

| RIFCO PROPERTIES LTD (REGISTERED NUMBER: 01059189) |

BALANCE SHEET - continued

30 SEPTEMBER 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 Board of Directors and authorised for issue on 12 March 2026 and were signed on its behalf by:

C Rifat - Director

| RIFCO PROPERTIES LTD (REGISTERED NUMBER: 01059189) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

1. | STATUTORY INFORMATION

| Rifco Properties 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 as modified by the revaluation of certain assets.

| Turnover

| Turnover 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.

| Plant and machinery | - | 25% on reducing balance

| Fixtures and fittings | - | 25% on reducing balance

| 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.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2024 - 2 ) .

| RIFCO PROPERTIES LTD (REGISTERED NUMBER: 01059189) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| Freehold |  | Plant and |  | and |

| property |  | machinery |  | fittings |  | Totals

£ | £ | £ | £ |

| COST OR VALUATION

| At 1 October 2024 | 14,480,193 |  | 394,342 |  | 4,649 |  | 14,879,184 |  |

| Additions | - |  | - |  | 749 |  | 749 |  |

| Disposals | (2,750,000 | ) | - |  | - |  | (2,750,000 | ) |

| Revaluations | (245,048 | ) | - |  | - |  | (245,048 | ) |

| At 30 September 2025 | 11,485,145 |  | 394,342 |  | 5,398 |  | 11,884,885 |  |

| DEPRECIATION

| At 1 October 2024 | - |  | 374,535 |  | 3,178 |  | 377,713 |  |

| Charge for year | - |  | 4,952 |  | 430 |  | 5,382 |  |

| At 30 September 2025 | - |  | 379,487 |  | 3,608 |  | 383,095 |  |

| NET BOOK VALUE

| At 30 September 2025 | 11,485,145 |  | 14,855 |  | 1,790 |  | 11,501,790 |  |

| At 30 September 2024 | 14,480,193 |  | 19,807 |  | 1,471 |  | 14,501,471 |  |

| In the opinion of the directors, the value of the properties (including plant and machinery) at 30 September 2025 is £11,500,000.

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

2025 | 2024 |

£ | £ |

| Other debtors | 571,819 |  | 281,326 |  |

| Directors' current accounts | 50,103 |  | - |  |

| Prepayments and accrued income | 12,421 |  | 6,264 |  |

634,343 |  | 287,590 |  |

6. | CURRENT ASSET INVESTMENTS

2025 | 2024 |

£ | £ |

| Listed investments | 5,009,970 |  | 3,644,745 |  |

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

2025 | 2024 |

£ | £ |

| Corporation tax | 89,158 |  | 246,274 |  |

| Social security and other taxes | 9,334 |  | 9,437 |  |

| Other creditors | 36,000 |  | 36,000 |  |

| Accruals and deferred income | 149,726 |  | 152,477 |  |

284,218 |  | 444,188 |  |

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

2025 | 2024 |

£ | £ |

| Other loans more than 5 years | - |  | 1,560,000 |  |

| Other creditors | 30,675 |  | 30,675 |  |

30,675 |  | 1,590,675 |  |

| RIFCO PROPERTIES LTD (REGISTERED NUMBER: 01059189) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

2025 | 2024 |

£ | £ |

| Amounts falling due in more than five years:

| Repayable otherwise than by instalments

| Other loans more than 5 years | - |  | 1,560,000 |  |

| The interest-only loan was repaid in full on 2 September 2025.

9. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 1,130,060 |  | 1,045,538 |  |

| Deferred |

| tax |

£ |

| Balance at 1 October 2024 | 1,045,538 |  |

| Provided during year | 84,522 |  |

| Balance at 30 September 2025 | 1,130,060 |  |

10. | RESERVES

| Fair

| value

| reserve

£ |

| At 1 October 2024 | 5,663,190 |  |

| Reclassification to fair value | (48,585 | ) |

| At 30 September 2025 | 5,614,605 |  |

11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 30 September 2025 and 30 September 2024:

2025 | 2024 |

£ | £ |

| C Rifat

| Balance outstanding at start of year | - |  | - |  |

| Amounts advanced | 50,103 |  | - |  |

| Amounts repaid | - |  | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 50,103 |  | - |  |

| Interest on the loan is charged at the market rate.

| The loan was repaid in full on 2 January 2026.

12. | ULTIMATE CONTROLLING PARTY

| The controlling party is C Rifat.