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Registration number: 15700341

Prepared for the registrar
NPP PR47 Limited
Annual Report and Financial Statements
for the Period from 2 May 2024 to 30 June 2025

NPP PR47 Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 to 6

NPP PR47 Limited

Company Information

Directors | J M Blake S F Morris M R Perry

Registered office | The Long Barn Litchfield Hampshire RG28 7PR

Auditors | Hazlewoods LLP Windsor House Bayshill Road Cheltenham GL50 3AT

NPP PR47 Limited

(Registration number: 15700341)
Balance Sheet as at 30 June 2025

| Note | 30 June 2025 £
Fixed assets |  |
Investment property | 4 | 1,480,000
Current assets |  |
Debtors | 5 | 16,733
Creditors: Amounts falling due within one year | 6 | (26,852)
Net current liabilities |  | (10,119)
Total assets less current liabilities |  | 1,469,881
Creditors: Amounts falling due after more than one year | 6 | (1,114,688)
Deferred tax liabilities |  | (113,711)
Net assets |  | 241,482
Capital and reserves |  |
Called up share capital |  | 1
Retained earnings |  | 241,481
Shareholders' funds |  | 241,482

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 March 2026 and signed on its behalf by:

M R Perry
Director

NPP PR47 Limited

Notes to the Financial Statements for the Period from 2 May 2024 to 30 June 2025

| 1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Long Barn
Litchfield
Hampshire
RG28 7PR
England

| 2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Disclosure of long or short period

The financial statements cover a period of 424 days. This is to bring the year end in line with that of its ultimate parent undertaking, Nine Points Property II LLP.

Going concern

After reviewing the company's forecasts and projections, 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.

Judgements

These financial statements do not contain any significant judgements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies and in the investment property note.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

NPP PR47 Limited

Notes to the Financial Statements for the Period from 2 May 2024 to 30 June 2025

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

NPP PR47 Limited

Notes to the Financial Statements for the Period from 2 May 2024 to 30 June 2025

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

| 3 | Staff numbers

The average number of persons employed by the company (including directors) during the period, was as follows:

| 2 May 2024 to 30 June 2025 No.
Average number of employees | 3

| 4 | Investment properties

| £
Additions | 1,025,155
Fair value adjustments | 454,845
At 30 June 2025 | 1,480,000

Investment property comprises £1,480,000. The fair value of the investment property has been arrived at on the basis of a valuation carried out during the year by Jones Lang LaSalle, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

| 5 | Debtors

| 30 June 2025 £
Other debtors | 16,733

NPP PR47 Limited

Notes to the Financial Statements for the Period from 2 May 2024 to 30 June 2025

| 6 | Creditors

| 30 June 2025 £
Due within one year |
Accruals | 26,852

| 2025 £
Due after one year |
Other financial liabilities | 1,114,688

Other borrowings is an open facility from a third party lender which is due in 48 months from 1 June 2022. Interest is charged at 12.5% per annum. The loan is secured over the investment property of the company.After the year end but before the accounts sign off date, the intention is to extend the loan beyond 31 May 2026 to support the group's ongoing strategy, and as a result it has been classified as a long-term liability.

| 7 | Parent and ultimate parent undertaking

The company's immediate parent is Nine Points Property II LLP, incorporated in England and Wales.
The ultimate parent is Nine Points Property I LLP, incorporated in England and Wales. There is considered to be no ultimate controlling party.

| 8 | Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 25 March 2026 was Stephanie Hayman, who signed for and on behalf of Hazlewoods LLP.