The director of the company has elected not to include a copy of the income statement within the financial statements.true

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

Thameshouse Property Limited is a private company limited by shares incorporated in England and Wales. The registered office is 71 Queen Victoria Street, London, United Kingdom, EC4V 4BE.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the director is aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern.

As at 31 March 2025 the company had net assets of £8,957,579 (2024: £9,295,222) and strong profit and loss reserves of £2,662,458 (2024: £3,000,101). The company however has a net operating loss from its properties of £484,976 (2024: profit £206,133), due to the £680,000 downwards revaluation of the investment properties. If the downwards revaluation had not occurred, the company would have achieved an operating profit of £195,014.

At the year end, the company had cash of £37,283 (2024: £7,412) and on production of a cash flow forecast, the director has noted that whilst the company is able to meet liabilities and to continue to trade, it is currently unable to meet them as they fall due.

The director has put in place a plan to remediate this and going forward the cash outgoings of the company will reduce. The director will also continue to explore other opportunities available to the company to create liquidity.

While the director remains confident that necessary funds will be available as and when required, as at the date of this report the future required funding arrangements are not secured, and accordingly there is a material uncertainty that may cast significant doubt over the company’s ability to continue as a going concern. The financial statements have been prepared on a going concern basis. The financial statements do not include the adjustments that would result if the company was unable to continue as a going concern.

Turnover represents amounts receivable from rental income, this is recognised on a straight line basis representative of the time pattern in which rentals are earned from the investment property.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

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 deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. At the reporting end each year, it is measured at fair value with any changes in the fair value recognised in the profit or loss. The fair value of each property is based on the judgement of management each year end. Management use valuation reports obtained from an independent 3rd party as the basis for forming their judgement on the fair value of the properties.

The average monthly number of persons (including directors) employed by the company during the year was 1 (2024 - 1).

The Company’s investment properties have been valued by the directors having regard to external valuations. Certain properties were valued on 6 August 2024 and 14 August 2024 by Allsop LLP engaged by the Company’s lender in connection with loan facilities, and these valuations have been considered, where appropriate, in determining fair value. Other properties were last valued by BN Surveyors on 21 October 2022.

The historical cost of these properties is £7,418,898 (2024: £7,658,883).

Other reserves is a non-distributable reserve held in order to monitor the cumulative amounts of revaluation gains and losses recognised.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report was unqualified.

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its loss for the year 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.

During the year the company decreased its loan from TCP Investment Company Limited to £3,379,854 (2024: £3,862,930).

The company gave a donation of £61,000 (2024: £70,000) to the Shakiry Charity for Social Solidarity, a registered charity. Haider Shakiry is a trustee of the charity, and Abdul Shakiry was also a trustee until his passing on 25 October 2025.

The company is owed an amount of £3,710 (2024: £3,710) from Sivatlas SARL, a company which was controlled by Abdul Shakiry until his passing.

At the year end, the estate of Abdul Shakiry owed £871,892 (2024: £118,396) to the company, including accrued interest of £11,134. The loan accrues interest at 2.25% per annum and is repayable on demand.

The parent company of Thameshouse Property Limited is TCPH Limited and its registered office is 71 Queen Victoria Street, London, United Kingdom, EC4V 4BE.

There is no ultimate controlling party.