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REGISTERED NUMBER: 10516229 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2025

for

Lassic Properties Limited

Lassic Properties Limited (Registered number: 10516229)

Contents of the Financial Statements

for the Year Ended 31 October 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Lassic Properties Limited

Company Information

for the Year Ended 31 October 2025

| DIRECTORS: | Mr Suresh Handa

| Mr Rajesh Handa

| REGISTERED OFFICE: | Lassic Building

| Dawson Lane

| Bradford

| BD4 6HN

| REGISTERED NUMBER: | 10516229 (England and Wales)

| ACCOUNTANTS: | Dhillon Accountants Limited

| Chartered Accountants

| Office 1

| 21 Hatherton Street

| Walsall

| WS4 2LA

Lassic Properties Limited (Registered number: 10516229)

Balance Sheet

31 October 2025

| 31.10.25 |  | 31.10.24

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 80,826 |  | 102,347 |  |

Investment property | 5 | 15,333,295 |  | 15,333,295 |  |

15,414,121 |  | 15,435,642 |  |

CURRENT ASSETS

Debtors | 6 | 7,697,259 |  | 6,139,023 |  |

Cash at bank and in hand | 113,153 |  | 194,620 |  |

7,810,412 |  | 6,333,643 |  |

CREDITORS

Amounts falling due within one year | 7 | (9,741,373 | ) | (7,828,473 | ) |

NET CURRENT LIABILITIES | (1,930,961 | ) | (1,494,830 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 13,483,160 |  | 13,940,812 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (5,085,916 | ) | (6,144,286 | ) |

PROVISIONS FOR LIABILITIES | (11,236 | ) | (8,385 | ) |

NET ASSETS | 8,386,008 |  | 7,788,141 |  |

CAPITAL AND RESERVES

Called up share capital | 200 |  | 200 |  |

Fair value reserve | 9 | 3,822,665 |  | 3,822,665 |  |

Retained earnings | 4,563,143 |  | 3,965,276 |  |

8,386,008 |  | 7,788,141 |  |

Lassic Properties Limited (Registered number: 10516229)

Balance Sheet - continued

31 October 2025

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 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 30 June 2026 and were signed on its behalf by:

Mr Suresh Handa - Director

Lassic Properties Limited (Registered number: 10516229)

Notes to the Financial Statements

for the Year Ended 31 October 2025

1. | STATUTORY INFORMATION

| Lassic 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.

| Turnover

| Turnover includes rent charged during the year net of value added taxes.

| 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 etc | - | 25% on reducing balance

| Investment property

| All investment properties are carried at 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 for. Changes in fair value are recognised in the profit and loss account.

Lassic Properties Limited (Registered number: 10516229)

Notes to the Financial Statements - continued

for the Year Ended 31 October 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.

| Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

| Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

| Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2024 - 2 ) .

Lassic Properties Limited (Registered number: 10516229)

Notes to the Financial Statements - continued

for the Year Ended 31 October 2025

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 November 2024

| and 31 October 2025 | 217,306 |  |

| DEPRECIATION

| At 1 November 2024 | 114,959 |  |

| Charge for year | 21,521 |  |

| At 31 October 2025 | 136,480 |  |

| NET BOOK VALUE

| At 31 October 2025 | 80,826 |  |

| At 31 October 2024 | 102,347 |  |

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 November 2024

| and 31 October 2025 | 15,333,295 |  |

| NET BOOK VALUE

| At 31 October 2025 | 15,333,295 |  |

| At 31 October 2024 | 15,333,295 |  |

| Investment property was valued on an open market basis on 30th March 2022 by a RICS surveyor

| The directors believe the valuation of the investment property as at 30th March 2022 is a true reflection of the fair value as at the balance sheet date.

6. | DEBTORS

| 31.10.25 |  | 31.10.24

£ | £ |

| Amounts falling due within one year:

| Other debtors | 5,759,084 |  | 4,594,215 |  |

Lassic Properties Limited (Registered number: 10516229)

Notes to the Financial Statements - continued

for the Year Ended 31 October 2025

6. | DEBTORS - continued

| 31.10.25 |  | 31.10.24

£ | £ |

| Amounts falling due after more than one year:

| Other debtors | 1,938,175 |  | 1,544,808 |  |

| Aggregate amounts | 7,697,259 |  | 6,139,023 |  |

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

| 31.10.25 |  | 31.10.24

£ | £ |

| Bank loans and overdrafts | 396,000 |  | 670,026 |  |

| Trade creditors | 56,961 |  | 299,420 |  |

| Taxation and social security | 877,307 |  | 1,193,602 |  |

| Other creditors | 8,411,105 |  | 5,665,425 |  |

9,741,373 |  | 7,828,473 |  |

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

| 31.10.25 |  | 31.10.24

£ | £ |

| Bank loans | 5,085,916 |  | 6,144,286 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more 5 yr by instal | 5,085,916 |  | 6,144,286 |  |

9. | RESERVES

| Fair

| value

| reserve

£ |

| At 1 November 2024

| and 31 October 2025 | 3,822,665 |  |

Lassic Properties Limited (Registered number: 10516229)

Notes to the Financial Statements - continued

for the Year Ended 31 October 2025

10. | RELATED PARTY DISCLOSURES

| During the year, the company charged rent as follows:

| Home Discount Limited ('HDL') - £376,800 (2024 - £376,800)

| Lassic Limited ('LL) - £976,800 (2024 - £976,800)

| As of 31 October 2025, the following balances were outstanding:

| Owed to Home Discount Limited - £5,276,720 (2024 - £2,658,880)

| Owed to Lassic Limited - £3,132,885 (2024 - £3,005,045)

| Messers Suresh and Rajesh Handa were also the directors of HDL and LL as of 31 October 2025.