Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Financial Statements of
Norbury Property Developments Limited
for the Year Ended 31 December 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Norbury Property Developments Limited for the year ended 31 December 2025 which comprise the statement of comprehensive income, balance sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation/a-z.

It is your duty to ensure that Norbury Property Developments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Norbury Property Developments Limited. You consider that Norbury Property Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Norbury Property Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Use of our report
This report is made solely to the Board of Directors of Norbury Property Developments Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Norbury Property Developments Limited and state those matters that we have agreed to state to the Board of Directors of Norbury Property Developments Limited, as a body, in this report in accordance with ICAEW Technical Release TECH 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Norbury Property Developments Limited and its Board of Directors, as a body, for our work or for this report.

......................................

KSEG
Chartered Accountants
Belfry House
Champions Way
Hendon
London
NW4 1PX

16 June 2026

Norbury Property Developments Limited

(Registration number: 02551944)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	698	1,501
Investment properties	5	4,320,000	4,320,000
		4,320,698	4,321,501
Current assets
Debtors	6	73,608	26,714
Cash at bank and in hand		224,306	309,111
		297,914	335,825
Creditors: Amounts falling due within one year	7	(998,831)	(135,310)
Net current (liabilities)/assets		(700,917)	200,515
Total assets less current liabilities		3,619,781	4,522,016
Creditors: Amounts falling due after more than one year	7	-	(955,834)
Provision for liabilities	8	(547,031)	(547,031)
Net assets		3,072,750	3,019,151
Capital and reserves
Called up share capital	9	10,000	10,000
Fair value reserve		2,554,000	2,554,000
Profit and loss account		508,750	455,151
Shareholders' funds		3,072,750	3,019,151

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question 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.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The statement of comprehensive income and the directors' report are not delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

Approved and authorised for issue by the Board on 15 June 2026 and signed on its behalf by:
 

.........................................

K Chandaria
Director

Norbury Property Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England. The registered office address is shown on page 1.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A Small Entities and the Companies Act 2006.

Basis of preparation

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

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Judgements in applying accounting policies

The preparation of financial statements in compliance with FRS 102 Section 1A Small Entities may require the use of certain critical accounting estimates. It may also require the directors to exercise judgement in applying the accounting policies.

In preparing these financial statements, the directors have had to make the following significant judgement:

The directors have made an assumption in the determination of the fair value of the investment properties in respect of the state of the property market in the locations where the properties are situated and in respect of the range of reasonable fair value estimates of the assets. There is an inevitable degree of judgement involved in that every property is unique and value can only ultimately be reliably tested in the market itself. The valuation methods are described further in note 5 together with the valuations of the properties at the reporting date.

There were no other significant judgements.

Summary of significant accounting policies

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.

Turnover

Turnover consists of rent receivable from the letting of investment properties in the United Kingdom. Rental income is measured at the fair value of rent receivable for the year.

Tax

The tax expense for the year comprises current and where applicable, deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or 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 company's liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

Norbury Property Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

2	Accounting policies (continued)

Deferred tax is 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 suitable future taxable profits.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the end of the reporting date and that are expected to apply to the reversal of the timing difference.

Current and deferred tax assets and liabilities are not discounted.

Tangible assets

Tangible assets are stated in the balance sheet at historical cost, less any subsequent accumulated depreciation and impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, evenly over their expected useful lives as follows:

Asset class	Depreciation rate and method
Furniture & fittings	15% on reducing balance basis
Computer equipment	33.33% on straight line basis

Investment properties

Investment properties are carried at their fair value, determined annually 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.

Cash at bank and in hand

This comprises cash at bank.

Financial instruments

Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than its legal form.

The company's cash at bank and in hand, other debtors and other creditors are measured initially at transaction price, and subsequently at amortised cost using the effective interest method, where appropriate.
 

Trade creditors

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 company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Norbury Property Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

3	Employees and directors information

The company had no employees (2024 - none) and 3 directors (2024- 3) during the year. The directors did not receive any remuneration from the company during the year (2024- £nil).

4	Tangible assets

	Computer equipment  £	Furniture & fittings £	Total £
Cost
At 1 January 2025	2,951	71,197	74,148
At 31 December 2025	2,951	71,197	74,148
Depreciation
At 1 January 2025	1,450	71,197	72,647
Charge for the year	803	-	803
At 31 December 2025	2,253	71,197	73,450
Carrying amount
At 31 December 2025	698	-	698
At 31 December 2024	1,501	-	1,501

Norbury Property Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

5	Investment properties

	2025 £
Carrying value at 1 January 2025	4,320,000
Carrying value at 31 December 2025	4,320,000

The investment properties were valued at 31 December 2025 by B Chandaria, a director of the company, at fair value. The valuations were arrived at after consideration of the most recently available market evidence of transaction prices for similar properties around their location on a vacant possession basis and also takes into account the director's assessment of the state of the rental market around the area where the properties are situated as at the reporting date.

6

Debtors

	2025 £	2024 £
Loans	50,000	-
Prepayments and accrued income	21,608	24,714
Other debtors	2,000	2,000
	73,608	26,714

Norbury Property Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

7

Creditors

	2025 £	2024 £
Due within one year
Other loan	950,000	-
Bank loan	5,834	10,000
Loan from parent undertaking	15,000	105,000
Corporation tax payable	18,267	10,467
Accruals and deferred income	8,897	9,010
Other creditors	833	833
	998,831	135,310