REGISTERED NUMBER: 09453141 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2026

for

Property K2 Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K Plumb

A P Bergens

F K Bergens

REGISTERED OFFICE:

15 Newland

Lincoln

LN1 1XG

REGISTERED NUMBER:

09453141 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

FIXED ASSETS

Tangible assets

4

21,405

22,364

Investments

5

8,910

78,642

Investment property

6

1,670,000

1,695,000

1,700,315

1,796,006

CURRENT ASSETS

Debtors

7

705

176

Cash at bank

4,574

7,710

5,279

7,886

CREDITORS

Amounts falling due within one year

8

670,177

747,165

NET CURRENT LIABILITIES

(664,898

)

(739,279

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,035,417

1,056,727

CREDITORS

Amounts falling due after more than one year

9

(165,652

)

(174,287

)

PROVISIONS FOR LIABILITIES

(120,713

)

(123,918

)

NET ASSETS

749,052

758,522

CAPITAL AND RESERVES

Called up share capital

10

2

2

Undistributable reserves

387,194

440,493

Retained earnings

361,856

318,027

SHAREHOLDERS' FUNDS

749,052

758,522

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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.

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 5 June 2026 and were signed on its behalf by:

K Plumb - Director

1.	STATUTORY INFORMATION

Property K2 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net rents receivable, exclusive of value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% on cost

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.

Financial instruments

The Company 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, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost 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 Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold 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.

Fixed asset investments

Fixed asset investments in shares are held at fair value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2025 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2025

27,000

955

27,955

Additions

21,995

668

22,663

Disposals

(27,000

)

-

(27,000

)

At 31 March 2026

21,995

1,623

23,618

DEPRECIATION

At 1 April 2025

5,400

191

5,591

Charge for year

4,708

202

4,910

Eliminated on disposal

(8,288

)

-

(8,288

)

At 31 March 2026

1,820

393

2,213

NET BOOK VALUE

At 31 March 2026

20,175

1,230

21,405

At 31 March 2025

21,600

764

22,364

5.	FIXED ASSET INVESTMENTS

Listed

investments

£

COST

At 1 April 2025

78,642

Disposals

(72,533

)

Share of profit/(loss)

2,801

At 31 March 2026

8,910

NET BOOK VALUE

At 31 March 2026

8,910

At 31 March 2025

78,642

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

1,695,000

Revaluations

(25,000

)

At 31 March 2026

1,670,000

NET BOOK VALUE

At 31 March 2026

1,670,000

At 31 March 2025

1,695,000

Fair value at 31 March 2026 is represented by:

£

Total revaluations

522,483

Cost

1,147,517

1,670,000

If investment property had not been revalued if would have been included at the following historic cost:

2026

2025

£

£

Cost

1,147,517

1,147,517

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Other debtors

705

176

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

1,402

4,200

Other creditors

668,775

742,965

670,177

747,165

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

-

1,400

Other creditors

165,652

172,887

165,652

174,287

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

2

Ordinary shares

£1

2

2

11.	RELATED PARTY DISCLOSURES

Included within administrative expenses are £5,000 (2025: £5,000) made to a self-administered pension scheme of which the director, Kate Plumb, is the beneficiary. The payments are made under an operating lease over office space used by the Company.

12.	AFTER YEAR-END TRANSACTION

After the reporting date, the company undertook a share split whereby 2 Ordinary shares of £1 each were subdivided into 200 Ordinary shares of £0.01 each on 2 April 2026. This event has not been reflected in the financial statements.