ACCOUNTS - Final Accounts

Registered number: 15117863

BEVILL UK LIMITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

BEVILL UK LIMITED

COMPANY INFORMATION

Directors	D G Ross
	D J Simpson


Registered number	15117863


Registered office	Calder & Co
	30 Orange Street
	London
	WC2H 7HF


Independent auditors	Calders (1883) LLP
	Chartered Accountants & Registered Auditors
	30 Orange Street
	London
	WC2H 7HF

BEVILL UK LIMITED

CONTENTS

	Page
Directors' report	1 - 2
Independent auditors' report	3 - 7
Statement of comprehensive income	8
Statement of financial position	9
Statement of changes in equity	10
Statement of cash flows	11
Notes to the financial statements	12 - 19

BEVILL UK LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 28 FEBRUARY 2026

The directors present their report and the financial statements for the year ended 28 February 2026.

Directors' responsibilities statement

The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Directors

The directors who served during the period from 6 September 2023 and ended 28 February 2025 were:

D G Ross

D J Simpson

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditors, Calders (1883) LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Page 1

BEVILL UK LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 28 FEBRUARY 2026

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 29 April 2026 and signed on its behalf.

D J Simpson

Director

Page 2

BEVILL UK LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BEVILL UK LIMITED

Opinion

We have audited the financial statements of Bevill UK Limited (the 'Company') for the period from 6 September 2023 and ended 28 February 2025 ended 28 February 2026, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of cash flows, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Company's affairs as at 28 February 2026 and of its profit for the period from 6 September 2023 and ended 28 February 2025 then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Page 3

BEVILL UK LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BEVILL UK LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Directors' report for the financial period from 6 September 2023 and ended 28 February 2025 for which the financial statements are prepared is consistent with the financial statements; and

∙the Directors' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit; or

∙the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' report and from the requirement to prepare a Strategic report.

Page 4

BEVILL UK LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BEVILL UK LIMITED (CONTINUED)

Responsibilities of directors

As explained more fully in the Directors' responsibilities statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered and undertook the following audit procedures in response:

∙We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are those that relate to the reporting frameworks (United Kingdom accounting standards and Companies Act 2006);

∙We obtained an understanding of the nature of the industry and sector, control environment and business performance;

∙The outcome of discussions with management and those charged with governance and any matters we identified having obtained and reviewed the company’s documentation of their policies and procedures related to:

°Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance or any actual or potential litigation or claims;

°Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

°The internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

∙The matters discussed during the audit engagement team briefing regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. All engagement team members were advised to remain alert to any indications of fraud or non-compliance with laws and regulations throughout the audit;

∙Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

∙Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud:

Page 5

BEVILL UK LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BEVILL UK LIMITED (CONTINUED)

∙Reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC and inspection of relevant legal correspondence;

∙In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments by testing manual journal entries, in particular journal entries relating to management estimates and entries determined to be large or relating to unusual transactions;

∙Assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business;

∙Assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagement team’s:

°Understanding of, and practical experience with audit engagements of a similar nature and complexity through appropriate training and participation;

°Knowledge of the industry in which the client operates;

°Understanding of the legal and regulatory requirements specific to the company including

∙The provisions of the applicable legislation

∙The applicable statutory provisions;
As a result of these procedures, we considered the opportunities and incentives that may exist within the company for fraud and identified the greatest potential for fraud in the areas in which management is required to exercise significant judgement. We are also required to perform specific procedures to respond to the risk of management override.
We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of the material amounts and disclosures in the financial statements.
Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law and Tax legislation, and distributable profits legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate and avoid a material penalty. These included data protection, health and safety regulations, competition and anti-bribery laws and environmental regulations.
With regards to laws and regulations relating to the operating aspects of the company, these were discussed with management and were not considered fundamental to the operating of the business therefore should not have a material impact on the financial statements.
No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Page 6

BEVILL UK LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BEVILL UK LIMITED (CONTINUED)

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Jennifer Davis (Senior statutory auditor)

for and on behalf of

Calders (1883) LLP

Chartered Accountants

Registered Auditors

30 Orange Street

London

WC2H 7HF

6 May 2026

Page 7

BEVILL UK LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 28 FEBRUARY 2026

	28 February	18 months ended 28 February
	2026	2025
Note	£	£


Turnover	4	221,737	106,667
Cost of sales		(2,635)	(1,848)
Gross profit		219,102	104,819
Administrative expenses		(33,960)	(28,449)
Operating profit		185,142	76,370
Interest receivable and similar income		3,211	15,441
Interest payable and similar expenses		(149,276)	(86,974)
Profit before tax		39,077	4,837
Tax on profit		(7,425)	(919)
Profit for the financial year		31,652	3,918

There was no other comprehensive income for 2026 (2025:£NIL).

The notes on pages 12 to 19 form part of these financial statements.

Page 8

BEVILL UK LIMITED

REGISTERED NUMBER: 15117863

STATEMENT OF FINANCIAL POSITION

AS AT 28 FEBRUARY 2026

		2026		2025
Note		£		£

Fixed assets
Investment property	6		4,089,591		4,089,591
			4,089,591		4,089,591
Current assets
Debtors: amounts falling due within one year	7	-		370
Cash resources	8	122,014		142,108
		122,014		142,478
Creditors: amounts falling due within one year	9	(51,856)		(40,911)
Net current assets			70,158		101,567
Total assets less current liabilities			4,159,749		4,191,158
Creditors: amounts falling due after more than one year	10		(2,482,609)		(2,545,670)

Net assets			1,677,140		1,645,488

Capital and reserves
Called up share capital	11	100	100
Share premium account	12	1,641,470	1,641,470
Profit and loss account	12	35,570	3,918
		1,677,140	1,645,488

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 April 2026.

D J Simpson

Director

The notes on pages 12 to 19 form part of these financial statements.

Page 9

BEVILL UK LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 28 FEBRUARY 2026

	Called up share capital	Share premium account	Profit and loss account	Total equity
	£	£	£	£
Comprehensive income for the period
Profit for the period	-	-	3,918	3,918
Total comprehensive income for the period	-	-	3,918	3,918
Contributions by and distributions to owners
Shares issued during the period	100	1,641,470	-	1,641,570
Total transactions with owners	100	1,641,470	-	1,641,570

At 1 March 2025	100	1,641,470	3,918	1,645,488
Comprehensive income for the year
Profit for the year	-	-	31,652	31,652
Total comprehensive income for the year	-	-	31,652	31,652
Total transactions with owners	-	-	-	-
At 28 February 2026	100	1,641,470	35,570	1,677,140

The notes on pages 12 to 19 form part of these financial statements.

Page 10

BEVILL UK LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 28 FEBRUARY 2026

			2026	2025
			£	£

Cash flows from operating activities
Profit for the financial year	31,652	3,918
Adjustments for:
Interest paid	149,276	86,974
Interest received	(3,211)	(15,441)
Taxation charge	7,425	919
Decrease/(increase) in debtors	370	(370)
Increase in creditors	4,439	39,992
(Decrease)/increase in amounts owed to groups	(63,061)	2,545,670
Corporation tax (paid)/received	(919)	-
Net cash generated from operating activities	125,971	2,661,662

Cash flows from investing activities
Purchase of investment properties	-	(4,089,591)
Interest received	3,211	15,441
Net cash from investing activities	3,211	(4,074,150)
Cash flows from financing activities
Issue of ordinary shares	-	1,641,570
Interest paid	(149,276)	(86,974)
Net cash used in financing activities	(149,276)	1,554,596
Net (decrease)/increase in cash and cash equivalents	(20,094)	142,108
Cash and cash equivalents at beginning of year	142,108	-
Cash and cash equivalents at the end of year	122,014	142,108

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	122,014	142,108
	122,014	142,108

The notes on pages 12 to 19 form part of these financial statements.

Page 11

BEVILL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

1.	General information

Bevill UK Limited was registered on 6th September 2023 and is a wholly owned subsidiary of Bevill Investment Holdings Proprietary Limited, a company registered in the Republic of South Africa. The company in turn is wholly owned by The Victor Daitz Foundation, a Charitable Foundation which was formed in South Africa on 4th July 1984.
Investment property
The company owns a leasehold property with an existing tenant (Marks & Spencer plc). The lease with Marks & Spencer plc expires 31st December 2033.
The master property lease with London Borough of Brent has an expiry date of 2nd December 2263 and is situated at Queen's Park Place, 31 Salusbury Road, London, NW6 6BF.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 12

BEVILL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

2.Accounting policies (continued)

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Leased assets: the Company as lessor

Where assets leased to a third party give rights approximating to ownership (finance lease), the lessor recognises as a receivable an amount equal to the net investment in the lease i.e. the minimum lease payments receivable under the lease discounted at the interest rate implicit in the lease. This receivable is reduced as the lessee makes capital payments over the term of the lease.

A finance lease gives rise to two types of income: profit or loss equivalent to the profit or loss resulting from outright sale of the asset being leased, at normal selling prices, reflecting any applicable discounts, and finance income over the lease term.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 country where the Company operates and generates income.

Page 13

BEVILL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

2.Accounting policies (continued)

2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Prepayments & accrued expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.
Property valuation
At each year end the company considers the current value of the leasehold property and considers if impairment is necessary. Valuation is considered to be a key source of estimation uncertainty.

Page 14

BEVILL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

Turnover

Turnover, comprised of rental income, is recognised in accordance with note 2.3 above and is measured at the fair value of the consideration received or receivable in the normal course of business, net of VAT.

					28 February	18 months ended 28 February
					2026	2025
					£	£

United Kingdom	221,737	106,667
	221,737	106,667

All turnover arose within the United Kingdom.

Employees

The average monthly number of employees, including the directors, during the year was as follows:

	28 February	18 months ended 28 February
	2026	2025
	No.	No.

Directors	2	2

Page 15

BEVILL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

6.	Investment property

		Long term leasehold investment property
		£
	Valuation
	At 1 March 2025	4,089,591
	At 28 February 2026	4,089,591

The 2026 valuations were made by JT Ross UK Limited, on an open market value for existing use basis.

If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
	2026	2025
	£	£

	Historic cost	4,089,591	4,089,591
		4,089,591	4,089,591

Page 16

BEVILL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

Debtors

					2026	2025
					£	£


Prepayments and accrued income	-	370
	-	370

8.	Cash resources
		2026	2025
		£	£

Cash at bank and in hand	122,014	142,108
	122,014	142,108

9.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Trade creditors	2,200	5,498
Corporation tax	7,425	919
Other taxation and social security	10,754	10,865
Accruals and deferred income	31,477	23,629
	51,856	40,911

Page 17

BEVILL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

10.	Creditors: Amounts falling due after more than one year
		2026	2025
		£	£

Amounts owed to group undertakings	2,482,609	2,545,670
	2,482,609	2,545,670

The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:
	2026	2025
	£	£

	Repayable other than by instalments	2,482,609	2,545,670
		2,482,609	2,545,670

The amount owing is wholly due to Bevill Investment Holdings Proprietary Limited, a company incorporated in the Republic of South Africa. The loan bears interest at 6% per annum and is not repayable in the forseeable future.

11.	Share capital
		2026	2025
		£	£

Allotted, called up and fully paid

100 (2025 - 100) Ordinary shares of £1.00 each	100	100

12.

Reserves

Share premium account

The share premium account is not distributable.

Profit and loss account

The profit and loss reserve is fully distributable.

Page 18

BEVILL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

13.	Related party transactions
	During the prior period the company received a loan of £2,458,696 from Bevill Investment Holdings Proprietary Ltd, its parent company. Interest is charged on the loan at 6% per annum and there is no fixed repayment date. At the year end the outstanding balance of the loan was £2,482,609 (2025: £2,545,670).

		2026	2025
		£	£

Loan account owing to related party
Bevill Investment Holdings Proprietary Limited	2,482,609	2,545,670
Administration fees paid to related party
The Victor Daitz Foundation	13,200	5,498
Interest payable
Bevill Investment Holdings Proprietary Limited	149,276	86,974

14.	Controlling party

The company is a wholly owned subsidiary of Bevill Investment Holdings Proprietary Ltd, a company incorporated in South Africa. The ultimate controlling party is The Victor Daitz Foundation.

Page 19