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REGISTERED NUMBER: 10271557 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2026

for

Elland Developments (2016) Limited

Elland Developments (2016) Limited (Registered number: 10271557)

Contents of the Financial Statements

for the Year Ended 31 March 2026

Page |

Company information | 1 |

Chartered accountants' report | 2 |

Balance sheet | 3 |

Notes to the financial statements | 5 |

Elland Developments (2016) Limited

Company Information

for the Year Ended 31 March 2026

| Directors: | Mr B Cameron

| Mrs H E Cameron

| Mrs C L Cameron Rodziewicz

| Mr J Cameron

| Registered office: | Lowfields Business Park

| Elland

| West Yorkshire

| HX5 9DA

| Registered number: | 10271557 (England and Wales)

| Accountants: | Langricks (Holmfirth) Limited

| 4 Greenfield Road

| Holmfirth

| West Yorkshire

| HD9 2JT

Chartered Accountants' Report to the Board of Directors

on the Unaudited Financial Statements of

Elland Developments (2016) Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance sheet. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Elland Developments (2016) Limited for the year ended 31 March 2026 which comprise the Statement of income and retained earnings, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Elland Developments (2016) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Elland Developments (2016) Limited and state those matters that we have agreed to state to the Board of Directors of Elland Developments (2016) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elland Developments (2016) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Elland Developments (2016) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Elland Developments (2016) Limited. You consider that Elland Developments (2016) 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 Elland Developments (2016) 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 financial statements.

Langricks (Holmfirth) Limited

4 Greenfield Road

Holmfirth

West Yorkshire

HD9 2JT

24 June 2026

Elland Developments (2016) Limited (Registered number: 10271557)

Balance Sheet

31 March 2026

| 31.3.26 | 31.3.25 |

| Notes | £ | £ | £ | £ |

Fixed assets

Investment property | 5 | 10,575,000 |  | 12,100,000 |  |

Current assets

Debtors | 6 | 10,941 |  | 778 |  |

Cash at bank | 163,595 |  | 156,487 |  |

174,536 |  | 157,265 |  |

Creditors

Amounts falling due within one year | 7 | 1,251,901 |  | 1,551,032 |  |

Net current liabilities | (1,077,365 | ) | (1,393,767 | ) |

Total assets less current liabilities | 9,497,635 |  | 10,706,233 |  |

Creditors

Amounts falling due after more than one year | 8 | (3,118,179 | ) | (2,548,179 | ) |

Provisions for liabilities | (964,161 | ) | (1,506,151 | ) |

Net assets | 5,415,295 |  | 6,651,903 |  |

Capital and reserves

Called up share capital | 1,000 |  | 1,000 |  |

Capital redemption reserve | 236,313 |  | 236,313 |  |

Retained earnings | 5,177,982 |  | 6,414,590 |  |

5,415,295 |  | 6,651,903 |  |

Elland Developments (2016) Limited (Registered number: 10271557)

Balance Sheet - continued

31 March 2026

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 June 2026 and were signed on its behalf by:

Mr J Cameron - Director

Elland Developments (2016) Limited (Registered number: 10271557)

Notes to the Financial Statements

for the Year Ended 31 March 2026

1. | STATUTORY INFORMATION

| Elland Developments (2016) 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. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably

| Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing the costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

| 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.

Elland Developments (2016) Limited (Registered number: 10271557)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

3. | ACCOUNTING POLICIES - continued

| Financial instruments

| 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 balance sheet when the company becomes party to the contractual provisions on 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

| Basic financial assets, which include debtors and cash and bank balances, 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.

| Classification of financial liabilities

| 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

| Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares 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.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Elland Developments (2016) Limited (Registered number: 10271557)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

3. | ACCOUNTING POLICIES - continued

| 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.

| Impairment of fixed assets

| At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

| Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time, value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

| If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

| Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

| Cash and cash equivalents

| 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.

| Equity instruments

| Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

| Employee benefits

| 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.

Elland Developments (2016) Limited (Registered number: 10271557)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 4 (2025 - 4 ) .

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 April 2025 | 12,100,000 |  |

| Additions | 760,000 |  |

| Disposals | (195,000 | ) |

| Revaluations | (2,090,000 | ) |

| At 31 March 2026 | 10,575,000 |  |

| NET BOOK VALUE

| At 31 March 2026 | 10,575,000 |  |

| At 31 March 2025 | 12,100,000 |  |

| Fair value at 31 March 2026 is represented by:

£ |

| Valuation in 2023 | 5,140,542 |  |

| Valuation in 2025 | 790,000 |  |

| Valuation in 2026 | (1,985,000 | ) |

| Cost | 6,629,458 |  |

10,575,000 |  |

| The investment property comprises of commercial property and land at Lowfields Business Park. The fair value of the investment property has been arrived at on the basis of a valuation carried out in November 2025 by Knight Frank LLP. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

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

| 31.3.26 |  | 31.3.25

£ | £ |

| Other debtors | 10,941 |  | 778 |  |

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

| 31.3.26 |  | 31.3.25

£ | £ |

| Bank loans and overdrafts | 190,000 |  | 190,000 |  |

| Trade creditors | 10,656 |  | 172 |  |

| Amounts owed to group undertakings | 103,033 |  | 103,033 |  |

| Amounts owed to associates | 64,000 |  | - |  |

| Taxation and social security | 126,115 |  | 128,783 |  |

| Other creditors | 758,097 |  | 1,129,044 |  |

1,251,901 |  | 1,551,032 |  |

Elland Developments (2016) Limited (Registered number: 10271557)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

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

| 31.3.26 |  | 31.3.25

£ | £ |

| Bank loans | 3,118,179 |  | 2,548,179 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.3.26 |  | 31.3.25

£ | £ |

| Bank loans | 3,308,179 |  | 2,738,179 |  |

10. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| The company is related to the directors of the company. During the year to 31st March 2026, the directors introduced £49,661 into the company and were repaid £400,150. As at 31st March 2026, the company owed the directors £495,436 (2025: £845,925) which has been included within creditors.

| The company also had transactions with companies under common control through shared directors and shareholders. During the year to 31st March 2026, the company received £66,000 from the connected companies and repaid £2,000. As at 31st March 2026, the company owed £64,000 which has been included within creditors.

11. | OPERATING LEASES

| The company as a lessor

| At the year end, the company had contracted with tenants under non-cancellable operating leases, the following minimum lease payments:

|  | 31.3.25 |  | 1.3.24 |  |

|  | £ |  | £ |  |

| Lessor |  | 7,375,910 |  | 8,113,501 |  |