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REGISTERED NUMBER: 11073471 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2026

FOR

PIPAL PROPERTIES LTD

PIPAL PROPERTIES LTD (REGISTERED NUMBER: 11073471)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2026

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

PIPAL PROPERTIES LTD

COMPANY INFORMATION

FOR THE YEAR ENDED 31ST MARCH 2026

| DIRECTORS: | Mr. B J Kantaria

| Mr A B Kantaria

| REGISTERED OFFICE: | Unit 8, 224 Iverson Road

| London

| NW6 2HL

| REGISTERED NUMBER: | 11073471 (England and Wales)

PIPAL PROPERTIES LTD (REGISTERED NUMBER: 11073471)

BALANCE SHEET

31ST MARCH 2026

| 2026 | 2025 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investment property | 4 | 1,526,763 |  | 1,526,763 |  |

CURRENT ASSETS

Debtors | 5 | 9,242 |  | - |  |

Cash at bank | 16,323 |  | 27,513 |  |

25,565 |  | 27,513 |  |

CREDITORS

Amounts falling due within one year | 6 | 19,169 |  | 20,869 |  |

NET CURRENT ASSETS | 6,396 |  | 6,644 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,533,159 |  | 1,533,407 |  |

CREDITORS

Amounts falling due after more than one year | 7 | 1,690,000 |  | 1,666,694 |  |

NET LIABILITIES | (156,841 | ) | (133,287 | ) |

CAPITAL AND RESERVES

Called up share capital | 8 | 100 |  | 100 |  |

Retained earnings | (156,941 | ) | (133,387 | ) |

SHAREHOLDERS' FUNDS | (156,841 | ) | (133,287 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2026 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 29th June 2026 and were signed on its behalf by:

Mr. B J Kantaria - Director

PIPAL PROPERTIES LTD (REGISTERED NUMBER: 11073471)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2026

1. | STATUTORY INFORMATION

| Pipal Properties Ltd 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.

| At the year-end, the company balance sheet showed net liabilities of £156,841 (2025: £133,287). These financial statements have been prepared on the going concern basis, which is dependent on the following considerations by the directors:

| i) The company has received assurances of ongoing support from its shareholders;

| ii) The company has obtained total loans of £1,690,000 from the directors/shareholders and close family members. These loans are unsecured and repayable after more than twelve months from the balance sheet date. The loans have been subordinated in favour of all other creditors of the company;

| iii) The directors have reviewed the forecasts for the next twelve months from the date of approval of these financial statements and he is confident that the company will be able to meet its liabilities as and when they fall due and at least for twelve months from the date of approval of these financial statements.

| Significant judgements and estimates

| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses.

| The estimates and assumptions used in the accompanying financial statements are based upon management's evaluation of the relevant facts and circumstances as on the date of the financial statements. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected.

| Information about estimation uncertainties that may have a significant risk of resulting in a material adjustment within the next financial year are:

| Valuation of investment property - freehold investment properties are shown at their fair value at balance sheet date. The investment properties are valued by the directors. Any valuation exercise will involve a number of assumptions and professional judgements and small changes in the assumptions and professional judgements can cause large deviations in the fair values of the investment properties.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was NIL (2025 - NIL).

PIPAL PROPERTIES LTD (REGISTERED NUMBER: 11073471)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2026

4. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1st April 2025

| and 31st March 2026 | 1,526,763 |  |

| NET BOOK VALUE

| At 31st March 2026 | 1,526,763 |  |

| At 31st March 2025 | 1,526,763 |  |

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

2026 | 2025 |

£ | £ |

| Other debtors | 9,242 |  | - |  |

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

2026 | 2025 |

£ | £ |

| Bank loans and overdrafts | 918 |  | 2,709 |  |

| Other creditors | 18,251 |  | 18,160 |  |

19,169 |  | 20,869 |  |

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

2026 | 2025 |

£ | £ |

| Bank loans | - |  | 918 |  |

| Other creditors | 1,690,000 |  | 1,665,776 |  |

1,690,000 |  | 1,666,694 |  |

8. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2026 | 2025 |

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

9. | RELATED PARTY DISCLOSURES

| (i) Other Creditors include unsecured and subordinated loans of £1,690,000 (2025: £1,665,776) from the Directors,Shareholders and close family members. Interest of £60,568 (2025: £60,370) was paid during the year.

| (ii) The investment property is occupied by companies with common directors and shareholders.

| Rent received in the year from these companies was £32,500 (2025:£34,500).