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REGISTERED NUMBER: 03118421 (England and Wales)

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 30 SEPTEMBER 2025 |

| FOR |

| MATSIM PROPERTIES LIMITED |

MATSIM PROPERTIES LIMITED (REGISTERED NUMBER: 03118421)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

MATSIM PROPERTIES LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 30 SEPTEMBER 2025

| DIRECTOR: | A Lambor

| SECRETARY: | Ms S Lambor

| REGISTERED OFFICE: | Sussex House Crowhurst Road

| Hollingbury Industrial Estate

| Brighton

| East Sussex

| BN1 8AF

| REGISTERED NUMBER: | 03118421 (England and Wales)

| ACCOUNTANTS: | Watson Associates (Professional Services) Limited

| 30 - 34 North Street

| Hailsham

| East Sussex

| BN27 1DW

MATSIM PROPERTIES LIMITED (REGISTERED NUMBER: 03118421)

BALANCE SHEET

30 SEPTEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 466,553 |  | 216,870 |  |

Investments | 5 | 231 |  | 230 |  |

Investment property | 6 | 24,074,999 |  | 23,662,647 |  |

24,541,783 |  | 23,879,747 |  |

CURRENT ASSETS

Debtors | 7 | 19,992,606 |  | 19,947,006 |  |

Cash at bank | 578,509 |  | 937,836 |  |

20,571,115 |  | 20,884,842 |  |

CREDITORS

Amounts falling due within one year | 8 | (436,896 | ) | (502,578 | ) |

NET CURRENT ASSETS | 20,134,219 |  | 20,382,264 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 44,676,002 |  | 44,262,011 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (11,798,115 | ) | (11,998,691 | ) |

PROVISIONS FOR LIABILITIES | (2,635,413 | ) | (2,470,978 | ) |

NET ASSETS | 30,242,474 |  | 29,792,342 |  |

CAPITAL AND RESERVES

Called up share capital | 10 | 2 |  | 2 |  |

Other reserves | 9,366,621 |  | 9,057,357 |  |

Retained earnings | 20,875,851 |  | 20,734,983 |  |

SHAREHOLDERS' FUNDS | 30,242,474 |  | 29,792,342 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MATSIM PROPERTIES LIMITED (REGISTERED NUMBER: 03118421)

BALANCE SHEET - continued

30 SEPTEMBER 2025

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 June 2026 and were signed by:

A Lambor - Director

MATSIM PROPERTIES LIMITED (REGISTERED NUMBER: 03118421)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

1. | STATUTORY INFORMATION

| Matsim Properties Limited 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.

| Going concern

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

| Turnover

| Turnover comprises the fair value of the consideration received or receivable for the rent from investment properties together with sales of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

| The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

| Tangible fixed assets

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

| Plant and machinery | - | 25% on reducing balance

| Fixtures and fittings | - | 15% on cost

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 33% on cost

| Investment property

| Investment property is carried at fair value. Gains are recognised in the profit and loss. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

| Financial instruments

| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

| Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

| 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 profit or loss.

| Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

MATSIM PROPERTIES LIMITED (REGISTERED NUMBER: 03118421)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Pension costs and other post-retirement benefits

| A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

| Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

| Borrowings

| Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period fo the relevant borrowing.

| Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

| Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

| Non-distributable reserve

| The aggregate fair value adjustments relating to movements in the value of the company's investment properties are transferred at the end of each period, net of deferred tax, from the profit and loss reserve to the non-distributable reserve.

| On disposal of investment property the aggregate fair value adjustment is transferred back to profit and loss reserves and the deferred tax position is transferred to current tax liabilities.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 5 (2024 - 5 ) .

MATSIM PROPERTIES LIMITED (REGISTERED NUMBER: 03118421)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| Plant and |  | and |  | Motor |  | Computer |

| machinery |  | fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 October 2024 | 714,448 |  | 200,540 |  | 98,127 |  | - |  | 1,013,115 |  |

| Additions | 38,895 |  | 261,670 |  | 35,233 |  | 1,659 |  | 337,457 |  |

| Disposals | - |  | - |  | (7,995 | ) | - |  | (7,995 | ) |

| At 30 September 2025 | 753,343 |  | 462,210 |  | 125,365 |  | 1,659 |  | 1,342,577 |  |

| DEPRECIATION

| At 1 October 2024 | 688,218 |  | 71,238 |  | 36,789 |  | - |  | 796,245 |  |

| Charge for year | 10,895 |  | 54,809 |  | 21,541 |  | 447 |  | 87,692 |  |

| Eliminated on disposal | - |  | - |  | (7,913 | ) | - |  | (7,913 | ) |

| At 30 September 2025 | 699,113 |  | 126,047 |  | 50,417 |  | 447 |  | 876,024 |  |

| NET BOOK VALUE

| At 30 September 2025 | 54,230 |  | 336,163 |  | 74,948 |  | 1,212 |  | 466,553 |  |

| At 30 September 2024 | 26,230 |  | 129,302 |  | 61,338 |  | - |  | 216,870 |  |

5. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST

| At 1 October 2024 | 230 |  |

| Additions | 1 |  |

| At 30 September 2025 | 231 |  |

| NET BOOK VALUE

| At 30 September 2025 | 231 |  |

| At 30 September 2024 | 230 |  |

6. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 October 2024 | 23,662,647 |  |

| Revaluations | 412,352 |  |

| At 30 September 2025 | 24,074,999 |  |

| NET BOOK VALUE

| At 30 September 2025 | 24,074,999 |  |

| At 30 September 2024 | 23,662,647 |  |

MATSIM PROPERTIES LIMITED (REGISTERED NUMBER: 03118421)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

6. | INVESTMENT PROPERTY - continued

| Fair value at 30 September 2025 is represented by:

£ |

| Valuation in 2023 | 11,574,338 |  |

| Valuation in 2025 | 412,352 |  |

| Cost | 12,088,309 |  |

24,074,999 |  |

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 76,276 |  | 121,449 |  |

| Amounts owed by group undertakings | 19,769,517 |  | 19,462,317 |  |

| Other debtors | 96,075 |  | 63,329 |  |

| VAT | - |  | 17,776 |  |

| Prepayments and accrued income | 2,433 |  | - |  |

| Prepayments | 48,305 |  | 282,135 |  |

19,992,606 |  | 19,947,006 |  |

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 96,429 |  | 115,893 |  |

| Amounts owed to group undertakings | 163,940 |  | 175,710 |  |

| Tax | (187,058 | ) | (125,222 | ) |

| Social security and other taxes | 3,203 |  | 5,421 |  |

| VAT | 28,029 |  | - |  |

| Other creditors | 70,739 |  | 49,425 |  |

| Directors' current accounts | 15,199 |  | 541 |  |

| Deferred income | 230,286 |  | 266,041 |  |

| Accrued expenses | 16,129 |  | 14,769 |  |

436,896 |  | 502,578 |  |

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans - 2-5 years | 11,101,755 |  | 11,092,331 |  |

| Other creditors | 696,360 |  | 906,360 |  |

11,798,115 |  | 11,998,691 |  |

MATSIM PROPERTIES LIMITED (REGISTERED NUMBER: 03118421)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

10. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 200 | Ordinary | £0.01 | 2 |  | 2 |  |

| 4 | Ordinary B | £0.01 | - |  | - |  |

2 |  | 2 |  |

11. | RELATED PARTY DISCLOSURES

| Summary of transactions with entities with joint control or significant interest

| Greenleaf Properties Sussex Limited

| A company in which Mr M Lambor is also director, owed £8,031,836 (2024: £8,126,107) to Matsim Properties Limited at the year end.

| Parkgate (Brighton) Limited

| A company in which Mr A Lambor is also director, owed £291,355 (2024: £454,770) to Matsim Properties Limited at the year end.

| Brighton Shore Limited

| A company in which Mr A Lambor is also director, owed £7,504,839 (2024: £7,133,059) to Matsim Properties Limited at the year end.

| 52-58 Middle Street Limited

| A company in which Mr M Lambor and Mr S Lambor are also directors, owed £3,823,512 (2024: £3,624,587) to Matsim Properties Limited at the year end. Mr M Lambor and Mr S Lambor both resigned as directors from Matsim Properties Limited on the 5th March 2024.

| Greenleaf Construction Services Limited

| A company in which Mr M Lambor and Mr S Lambor are also directors, owed £39,192 (2024: £72,309) to Matsim Properties Limited at the year end. Mr M Lambor and Mr S Lambor both resigned as directors from Matsim Properties Limited on the 5th March 2024.

| Matsim Management Limited

| A company in which Mr S Lambor is also a director, was owed £50,000 (2024: £50,000) by Matsim Properties Limited at the year end. Mr S Lambor resigned as a director from Matsim Properties Limited on the 5th March 2024.

| Summary of transactions with subsidiaries

| Greentrees Barn Limited

| At the balance sheet date, £113,940 was owed to (2024: £125,710) Greentrees Barn Limited.

| Jolly Tanners Limited

| At the balance sheet date, £78,783 was owed by (2024: £4,900) Jolly Tanners Limited.