Company No: 07832304 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Mr P A Field
	Mr A Nagwaney

REGISTERED OFFICE	32 Launceston Place
	London
	W8 5RN
	United Kingdom

COMPANY NUMBER

07832304 (England and Wales)

ACCOUNTANT	S&W Partners LLP
	Onslow House
	Onslow Street
	Guildford
	GU1 4TL

	Note	2025		2024
		£		£
Fixed assets
Investment property	4	7,550,000		5,456,410
		7,550,000		5,456,410
Current assets
Cash at bank and in hand		39,843		98,740
		39,843		98,740
Creditors: amounts falling due within one year	5	( 110,345)		( 106,099)
Net current liabilities		(70,502)		(7,359)
Total assets less current liabilities		7,479,498		5,449,051
Provision for liabilities	6	( 1,256,250)		( 593,272)
Net assets		6,223,248		4,855,779
Capital and reserves
Called-up share capital		180		180
Share premium account		211,964		211,964
Revaluation reserve		3,328,036		1,234,446
Profit and loss account		2,683,068		3,409,189
Total shareholder's funds		6,223,248		4,855,779

For the financial year ending 31 August 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Crosby Property UK Ltd (registered number: 07832304) were approved and authorised for issue by the Board of Directors on 21 April 2026. They were signed on its behalf by:

Mr A Nagwaney Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Crosby Property UK Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is c/o Crosby Composites Ltd ,Unit C Nigel Court Ward Road, Buckingham Road Industrial Estate, Brackley, Northamptonshire, NN13 7LF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Crosby Property UK Ltd is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise on monetary items.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the rental of property in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

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. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined by external valuers and derived from current market rent and investment property yields for comparable real estate, adjusted if necessary, for any difference in nature, location or condition of the specific property.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The company holds investment property which is held at valuation. The directors make a number of judgements and estimates regarding the valuation of the property as at the reporting date based on their knowledge of the local market and informed by professional advice.

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

4. Investment property

	Investment property
	£
Valuation
As at 01 September 2024	5,456,410
Fair value movement	2,093,590
As at 31 August 2025	7,550,000

The fair value of the investment property at 31 August 2025 has been arrived at by the directors.

Valuation

A 3rd party assessment of the market value which the Director’s used to come to a view of the appropriate valuation of investment property was completed on the 18th July 2025.

For commercial investment property, the yield methodology was used which involved applying market derived capitalisation yields to current and market derived future income streams with appropriate adjustments for income voids arising from vacancies or rent free periods. These capitalisation yields and future income streams are derived from comparable property and leasing transactions.

The fair value of the Company’s investment property has been arrived at on the basis of valuations carried out on that date by the directors of the business. In carrying out their review, the directors have made assumptions in relation to rental yields and estimated future achievable rents.

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Accruals	4,850		1,980
Corporation tax	87,518		86,119
Other taxation and social security	17,977		18,000
	110,345		106,099

6. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 593,272)		( 593,272)
Charged to the Profit and Loss Account	( 662,978)		0
At the end of financial year	( 1,256,250)		( 593,272)

The deferred taxation balance is made up as follows:

	2025		2024
	£		£
Revaluation of investment property	( 1,256,250)		( 593,272)

There were no deferred tax movements in the year.

7. Financial commitments

Other financial commitments

	2025		2024
	£		£
Lessor at the reporting end date the company had contracted with tenants for the following minimum lease receipts	6,000,000		3,960,000

8. Related party transactions

Within the year the company rented properties to the value of £360,000 (2024: £360,000) to a related party by virtue of a shared director.