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REGISTERED NUMBER: 10860478 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

HBMS PROPERTY LIMITED

| HBMS PROPERTY LIMITED (REGISTERED NUMBER: 10860478) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 31 October 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| HBMS PROPERTY LIMITED |

COMPANY INFORMATION

for the Year Ended 31 October 2025

| DIRECTORS: | Ms A J Hills-Balfour

| J M V Mills

| J A Sloan

| P Balfour

| REGISTERED OFFICE: | 10 London Mews

| London

| W2 1HY

| REGISTERED NUMBER: | 10860478 (England and Wales)

| ACCOUNTANTS: | Stein Richards

| Chartered Accountants

| 10 London Mews

| Paddington

| LONDON

| W2 1HY

| HBMS PROPERTY LIMITED (REGISTERED NUMBER: 10860478) |

BALANCE SHEET

31 October 2025

| 31.10.25 | 31.10.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investments | 4 | 1,968,000 |  | 1,968,000 |  |

CURRENT ASSETS

Debtors | 5 | 3,677,269 |  | 3,677,352 |  |

Cash at bank | 14,430 |  | 68,317 |  |

3,691,699 |  | 3,745,669 |  |

CREDITORS

Amounts falling due within one year | 6 | 5,546 |  | 6,814 |  |

NET CURRENT ASSETS | 3,686,153 |  | 3,738,855 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 5,654,153 |  | 5,706,855 |  |

CREDITORS

Amounts falling due after more than one year | 7 | 3,791,078 |  | 3,841,441 |  |

NET ASSETS | 1,863,075 |  | 1,865,414 |  |

CAPITAL AND RESERVES

Called up share capital | 213 |  | 213 |  |

Share premium | 1,967,787 |  | 1,967,787 |  |

Retained earnings | (104,925 | ) | (102,586 | ) |

1,863,075 |  | 1,865,414 |  |

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

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

| HBMS PROPERTY LIMITED (REGISTERED NUMBER: 10860478) |

BALANCE SHEET - continued

31 October 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 19 February 2026 and were signed on its behalf by:

J M V Mills - Director

P Balfour - Director

| HBMS PROPERTY LIMITED (REGISTERED NUMBER: 10860478) |

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 October 2025

1. | STATUTORY INFORMATION

| HBMS Property 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.

| Going Concern

| The financial statements have been prepared on the going concern basis as the directors believe that adequate cash resources will be available to cover the company's requirements for working capital and capital expenditure for at least the next twelve months.

| Financial instruments

| The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like other debtors and creditors and loans to related parties.

| The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments/receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised costs using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.

| 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.

| Investment in joint venture

| Investments in joint ventures are accounted for by the cost model.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 4 (2024 - 4 ) .

| HBMS PROPERTY LIMITED (REGISTERED NUMBER: 10860478) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 October 2025

4. | FIXED ASSET INVESTMENTS

| Interest

| in joint

| venture

£ |

| COST

| At 1 November 2024

| and 31 October 2025 | 1,968,000 |  |

| NET BOOK VALUE

| At 31 October 2025 | 1,968,000 |  |

| At 31 October 2024 | 1,968,000 |  |

| The investment in joint venture is accounted for at cost less any accumulated impairment losses.

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

| 31.10.25 |  | 31.10.24

£ | £ |

| Amounts owed by joint ventures | 3,676,843 |  | 3,676,843 |  |

| Other debtors | 426 |  | 509 |  |

3,677,269 |  | 3,677,352 |  |

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

| 31.10.25 |  | 31.10.24

£ | £ |

| Trade creditors | 2,197 |  | 3,055 |  |

| Other creditors | 3,349 |  | 3,759 |  |

5,546 |  | 6,814 |  |

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

| 31.10.25 |  | 31.10.24

£ | £ |

| Other creditors | 3,791,078 |  | 3,841,441 |  |

8. | RELATED PARTY DISCLOSURES

| Directors

| As at 31 October 2025 the company owed its directors the sum of £3,791,078 (2024: £3,841,441). No interest is payable on the loans.

| Joint Venture

| As at 31 October 2025 the company was owed £3,676,843 (2024: £3,676,843) from a corporate entity in which it owns 50% of the shares. The loan is repayable on demand and no interest is charged.