ACCOUNTS - Final Accounts

Analysis of the maturity of loans is given below:

Registered number: NI611348

Killylane Properties Limited

Financial statements

Information for filing with the registrar

For the year ended 30 September 2025

Killylane Properties Limited

Registered number: NI611348

Balance sheet

As at 30 September 2025

	2025	2025	2024	2024
Note	£	£	£	£

Fixed assets
Investment property	4		-		11,355,000
			-		11,355,000
Current assets
Debtors: amounts falling due within one year	5	5,666,568		5,896,799
Cash at bank and in hand	6	-		254,307
		5,666,568		6,151,106
Creditors: amounts falling due within one year	7	(173,067)		(11,568,686)
Net current assets/(liabilities)			5,493,501		(5,417,580)
Total assets less current liabilities			5,493,501		5,937,420
Creditors: amounts falling due after more than one year	8		(5,493,500)		-
Provisions for liabilities
Deferred tax	10		-		(479,494)
Net assets			1		5,457,926

Capital and reserves
Called up share capital	11	1	15,000
Share premium account	12	-	992,500
Profit and loss account	12	-	4,450,426
		1	5,457,926

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with 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 20 March 2026.

M Johnston

Director

The notes on pages 2 to 11 form part of these financial statements.

Page 1

Killylane Properties Limited

Notes to the financial statements

For the year ended 30 September 2025

1.	General information

The company is a private company limited by shares and incorporated in Northern Ireland. The address of the registered office is 3 Portman Business Park, Lisburn, Northern Ireland, BT28 2XF.
The company's principal activity for the year was the management and rental of investment properties.

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 requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of John Hogg & Co, Limited as at 30 September 2025 and these financial statements may be obtained from Companies House.

2.3

Going concern

The directors have a reasonable expectation that the Company has adequate resources available to
it to continue operations for the foreseeable future and, accordingly, the directors continue to adopt
the going concern basis in preparing the financial statements.

Page 2

Killylane Properties Limited

Notes to the financial statements

For the year ended 30 September 2025

2.Accounting policies (continued)

2.4

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.

2.5

Interest income

Interest income is measured and recognized in the statement of profit or loss using the effective interest rate 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

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

Killylane Properties Limited

Notes to the financial statements

For the year ended 30 September 2025

2.Accounting policies (continued)

2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.9

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.

2.10

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.

2.11

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.

2.12

Creditors

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

Page 4

Killylane Properties Limited

Notes to the financial statements

For the year ended 30 September 2025

2.Accounting policies (continued)

2.13

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Employees

The average monthly number of employees, including directors, during the year was 3 (2024 - 3).

Page 5

Killylane Properties Limited

Notes to the financial statements

For the year ended 30 September 2025

4.	Investment property

		Freehold investment property
		£

	At 1 October 2024	11,355,000
	Transfers intra group	(11,355,000)
	At 30 September 2025	-

During the year certain trade and assets, including the investment properties as noted above, were hived up to John Hogg & Co, Limited, the ultimate parent undertaking.

Page 6

Killylane Properties Limited

Notes to the financial statements

For the year ended 30 September 2025

Debtors

					2025	2024
					£	£


Trade debtors	-	100,827
Amounts owed by group undertakings	5,434,249	5,770,000
Other debtors	-	25,972
Deferred taxation	232,319	-
	5,666,568	5,896,799

Amounts owed by group undertakings are secured, interest free and repayable on demand, except those which are considered financing in nature; such loans have a market rate of interest applied.

6.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	-	254,307
	-	254,307

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	98,000	5,665,000
Amounts owed to group undertakings	-	4,816,250
Corporation tax	-	124,907
Other taxation and social security	-	239,607
Other creditors	75,067	13,478
Accruals and deferred income	-	9,444
Share capital treated as debt	-	700,000
	173,067	11,568,686

Amounts owed to group undertakings are secured, interest free and repayable on demand, except those which are considered financing in nature; such loans have a market rate of interest applied.

Page 7

Killylane Properties Limited

Notes to the financial statements

For the year ended 30 September 2025

8.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	5,493,500	-
	5,493,500	-

Amounts falling due within one year
Bank loans	98,000	5,665,000
Amounts falling due 1-2 years
Bank loans	5,493,500	-
	5,493,500	-


	5,591,500	5,665,000

Bank loans are secured on the investment properties which have been transferred to John Hogg & Co, limited as part of the hive up transaction.

Page 8

Killylane Properties Limited

Notes to the financial statements

For the year ended 30 September 2025

10.	Deferred taxation

	2025	2024
	£	£

At beginning of year	(479,494)	(396,961)
Capital losses carried forward	-	(82,533)
Transfer on hive up	711,813	-
At end of year	232,319	(479,494)

The deferred taxation balance is made up as follows:
	2025	2024
	£	£

Accelerated capital allowances	-	(440,638)
Capital losses carried forward	232,319	232,319
Other timing differences	-	(271,175)
	232,319	(479,494)

Page 9

Killylane Properties Limited

Notes to the financial statements

For the year ended 30 September 2025

Allotted, called up and fully paid

1 (2024 - 7,500) Ordinary share of £1.00	1	7,500
Enter number (2024 - 7,500) Ordinary 'A' shares of £1.00 each	-	7,500

	1	15,000

On 11 October 2024, after the redemption of the preference shares referenced overleaf, the company undertook a reduction in share capital in accordance with the Companies Act 2006. The reduction was authorised by a written resolution by the directors.
The capital reduction was as follows; 7,500 Ordinary 'A' shares of £1.00 and 709,743 Ordinary shares of £1.00 each were cancelled and extinguished such that the share capital of the Company was reduced to 1 ordinary share of £1.00.

Page 10

Killylane Properties Limited

Notes to the financial statements

For the year ended 30 September 2025

11.Share capital (continued)

	2025	2024
	£	£
Shares classified as debt

Allotted, called up and fully paid

NIL (2024 - 700,000) 3% Preference shares shares of £1.00 each	-	700,000

On 11 October 2024 the preference shares were redeemed for 702,244 Ordinary shares at par value.

12.

Reserves

Share premium account

This reserve represents the excess paid over the nominal value for shares issued.

Profit and loss account

This reserve represents the cumulative retained profit of the company.

13.	Related party transactions
	The company has taken advantage of the exemption under paragraph 33.1A from the provisions of FRS 102, on the grounds that at 30 September 2025 it was wholly owned subsidiary.

14.	Ultimate Controlling party

The company's immediate and ultimate parent undertaking, and the undertaking of the smallest and largest group of undertakings of which the company is a member and for which consolidated financial statements are prepared is John Hogg & Co, Limited, a company incorporated in Northern Ireland. Copies of the group financial statements are available to the public from Companies House.
The ultimate controlling parties continue to be the shareholders of John Hogg & Co, Limited.

15.	Auditor's information

The auditor's report on the financial statements for the year ended 30 September 2025 was unqualified.

The audit report was signed on 20 March 2026 by Brian Clerkin (Senior statutory auditor) on behalf of Sumer Auditco NI Limited.

Page 11