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REGISTERED NUMBER: 12861523 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

FOR

MINHA CAPITAL LTD

MINHA CAPITAL LTD (REGISTERED NUMBER: 12861523)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Page |

Company information | 1 |

Balance sheet | 2 |

Notes to the financial statements | 3 |

MINHA CAPITAL LTD

COMPANY INFORMATION

FOR THE YEAR ENDED 30 SEPTEMBER 2025

| DIRECTOR: | SKS Tan

| REGISTERED OFFICE: | 38 Gorst Road

| London

| SW11 6JE

| REGISTERED NUMBER: | 12861523 (England and Wales)

MINHA CAPITAL LTD (REGISTERED NUMBER: 12861523)

BALANCE SHEET

30 SEPTEMBER 2025

| 30.9.25 | 30.9.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 242 |  | 323 |  |

Investment property | 5 | 3,053,813 |  | 3,053,813 |  |

3,054,055 |  | 3,054,136 |  |

CURRENT ASSETS

Debtors | 6 | 3,540 |  | 15,253 |  |

Cash at bank and in hand | 769,331 |  | 375,642 |  |

772,871 |  | 390,895 |  |

CREDITORS

Amounts falling due within one year | 7 | 2,108,328 |  | 1,820,168 |  |

NET CURRENT LIABILITIES | (1,335,457 | ) | (1,429,273 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,718,598 |  | 1,624,863 |  |

CREDITORS

Amounts falling due after more than one year | 8 | 1,595,000 |  | 1,595,000 |  |

NET ASSETS | 123,598 |  | 29,863 |  |

CAPITAL AND RESERVES

Called up share capital | 22 |  | 20 |  |

Retained earnings | 123,576 |  | 29,843 |  |

123,598 |  | 29,863 |  |

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 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 25 March 2026 and were signed by:

SKS Tan - Director

MINHA CAPITAL LTD (REGISTERED NUMBER: 12861523)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

1. | STATUTORY INFORMATION

| Minha Capital 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.

| The financial statements are presented in pounds sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

| SIGNIFICANT JUDGEMENTS AND ESTIMATES

| Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgement and estimates have been made include:

| a - Critical judgements in applying accounting policies

| There are no critical judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

| b - Key accounting estimates and assumptions

| The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have the most significant potential impact upon the carrying values of assets and liabilities within the next financial year are as follows;

| i- Investment property valuation

| The valuation of Company's property is inherently subjective due to, among other factors, the individual nature of each property, its location and the expected future rental revenues from that particular property. As a result, the valuations the Company places on its property portfolio are subject to a degree of uncertainty and are made on the basis of assumptions which may not prove to be accurate, particularly in periods of volatility or low transaction flow in the property market. The investment property valuations contains a number of assumptions upon which the Company's valuers have based their valuation of the Company's properties as at the balance sheet date. The assumptions on which the property valuation reports

| have been based include, but not limited to, matters such as the tenure and tenancy details for the properties, ground conditions at the properties, the structural condition of the properties, prevailing market yields and comparable market transactions. These assumptions are market standard and accord with the Royal Institution of Chartered Surveyors (RICS).

| TURNOVER

| Revenue relates to property rental income within the UK.

| 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 etc | - | 25% on reducing balance

| 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.

| Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account. Revaluations are carried out by the directors, who have experience in the location and class of the investment property being valued.

MINHA CAPITAL LTD (REGISTERED NUMBER: 12861523)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2. | ACCOUNTING POLICIES - continued

| FINANCIAL INSTRUMENTS

| The group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

| Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash and other consideration, expected to be paid or received.

| However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

| Financial assets that are measured at cost and amortised are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

| 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.

| GOING CONCERN

| The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3. | EMPLOYEES AND DIRECTORS

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

MINHA CAPITAL LTD (REGISTERED NUMBER: 12861523)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 October 2024

| and 30 September 2025 | 765 |  |

| DEPRECIATION

| At 1 October 2024 | 442 |  |

| Charge for year | 81 |  |

| At 30 September 2025 | 523 |  |

| NET BOOK VALUE

| At 30 September 2025 | 242 |  |

| At 30 September 2024 | 323 |  |

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 October 2024

| and 30 September 2025 | 3,053,813 |  |

| NET BOOK VALUE

| At 30 September 2025 | 3,053,813 |  |

| At 30 September 2024 | 3,053,813 |  |

| The investment properties are shown at current market value. The valuation has been made by the directors of the company. The basis of valuation used was to gross up the ground rent and rental income by the rate of return expected from the type of property owned.

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

| 30.9.25 |  | 30.9.24

£ | £ |

| Trade debtors | 65 |  | 11,765 |  |

| Prepayments and accrued income | 3,475 |  | 3,488 |  |

3,540 |  | 15,253 |  |

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

| 30.9.25 |  | 30.9.24

£ | £ |

| Tax | 29,294 |  | 4,761 |  |

| Loans from connected companies | 384,072 |  | 409,072 |  |

| Directors' current accounts | 1,657,506 |  | 1,368,506 |  |

| Accruals and deferred income | 37,456 |  | 37,829 |  |

2,108,328 |  | 1,820,168 |  |

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

| 30.9.25 |  | 30.9.24

£ | £ |

| Bank loans more 5 yrs non-inst | 1,595,000 |  | 1,595,000 |  |

MINHA CAPITAL LTD (REGISTERED NUMBER: 12861523)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

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

| 30.9.25 |  | 30.9.24

£ | £ |

| Amounts falling due in more than five years:

| Repayable otherwise than by instalments

| Bank loans more 5 yrs non-inst | 1,595,000 |  | 1,595,000 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

| 30.9.25 |  | 30.9.24

£ | £ |

| Bank loans | 1,595,000 |  | 1,595,000 |  |

10. | RELATED PARTY DISCLOSURES

| Loans from connected companies under creditors within one year represent amounts due to related companies, in which Mr Tan is the director and a shareholder.These are interest free loans made available to the company. These companies will not seek repayment of these loans until Minha Capital Ltd is in a position to repay these loans without detriment to its financial position.

| Directors' current accounts under creditors within one year is an interest free loan made available to the company. The directors will not seek repayment of this loan until the company is in a position to repay this loan without detriment to its financial position.

11. | CONTROLLING PARTY

| The company was under the joint control of S Tan and H Lomas throughout the current period.