REGISTERED NUMBER: 03498462 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

ENNISMORE INVESTMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr A G Nardini

SECRETARY:

TMF Corporate Administration Services

REGISTERED OFFICE:

C/o TMF Group

13th Floor

One Angel Court

London

EC2R 7HJ

REGISTERED NUMBER:

03498462 (England and Wales)

AUDITORS:

FKCA Limited

Statutory Auditor

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

FIXED ASSETS

Tangible assets

5

53,290

-

Investments

6

213,813

234,094

Investment property

7

10,245,000

11,241,000

10,512,103

11,475,094

CURRENT ASSETS

Debtors

8

9,668

14,237

Cash at bank

687,344

587,691

697,012

601,928

CREDITORS

Amounts falling due within one year

9

122,000

102,089

NET CURRENT ASSETS

575,012

499,839

TOTAL ASSETS LESS CURRENT LIABILITIES

11,087,115

11,974,933

PROVISIONS FOR LIABILITIES

10

1,182,570

1,429,968

NET ASSETS

9,904,545

10,544,965

CAPITAL AND RESERVES

Called up share capital

3,300,000

3,300,000

Non distributable reserves

11

5,757,854

6,504,854

Retained earnings

11

846,691

740,111

SHAREHOLDERS' FUNDS

9,904,545

10,544,965

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 3 July 2026 and were signed by:

Mr A G Nardini - Director

1.	STATUTORY INFORMATION

Ennismore Investments 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The director is confident that the company, at the date of signing, will continue as a going concern for the foreseeable future.

Financial reporting standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS102 "the Financial Reporting Standard applicable in the UK and Republic of Ireland".

- the requirements of Section 7 Statement of Cash Flows

Turnover

Revenue is measured at the fair value of the rents received or receivable and revenue is recognised in the period in which the rental relates.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses.

Investment property

Investment property is included at fair value which is the most recent valuation. Any aggregate surplus or deficit arising from changes in the fair value is recognised in the profit and loss.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Revaluations taken to the income statement are transferred into a non distributable reserve as these gains are considered unrealised.

Financial instruments

Basic financial instruments are recognised at amortised cost. Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.

Such assets are subsequently carried at fair value and the changes in fair value are recognised in the income statement, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Distributions received from investments that are determined to be a return of capital are deducted from the carrying value of the investment and not recognised in income.

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.

4.	EMPLOYEES AND DIRECTORS

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

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2025

129,159

Additions

54,193

At 31 December 2025

183,352

DEPRECIATION

At 1 January 2025

129,159

Charge for year

903

At 31 December 2025

130,062

NET BOOK VALUE

At 31 December 2025

53,290

At 31 December 2024

-

6.	FIXED ASSET INVESTMENTS

Other investments

£

Valuation

At 1 January 2025

234,094

Distributions received

-

Revaluation in the year

(4,215

)

Foreign exchange gain/(loss)

(16,066

)

At 31 December 2025

213,813

Valuation

At 31 December 2025

213,813

At 31 December 2024

234,094

The other investments represent a 0.619600% holding in a SPV investment fund. The fund invests in equity instruments and convertible loans in un-listed Technology companies. Quarterly fund accounts are produced and the fair value recorded in the financial statements is based on the latest accounts available.

At the year end the company is committed to invest a further $75,000 (2024: $75,000) in the investment fund which is yet to be drawn down.

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

11,241,000

Revaluations

(996,000

)

At 31 December 2025

10,245,000

NET BOOK VALUE

At 31 December 2025

10,245,000

At 31 December 2024

11,241,000

The investment property was valued as at 31 December 2025 by Nicolas Van Patrick, an estate agents in Knightsbridge, at its open market value as above.

The carrying amount that would have been included in the financial statements had the property been carried at historical cost is £3,306,758.

The property is rented out, or available for rent, under short term tenancy agreements.

A significant assumption in the valuation of the investment property is that current market conditions in London and the broader economic environment are reflective of fair value at the reporting date.

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

2,000

1,000

Prepayments and accrued income

7,668

13,237

9,668

14,237

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

19,701

22,883

Corporation tax

39,575

49,049

Accruals and deferred income

62,724

30,157

122,000

102,089

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

1,182,570

1,429,968

Deferred

tax

£

Balance at 1 January 2025

1,429,968

Timing difference

(247,398

)

Balance at 31 December 2025

1,182,570

11.

RESERVES

Non

Retained

distributable

earnings

reserves

Totals

£

£

£

At 1 January 2025

740,111

6,504,854

7,244,965

Deficit for the year

(640,420

)

-

(640,420

)

Transfer

747,000

(747,000

)

-

At 31 December 2025

846,691

5,757,854

6,604,545

FRS102 requires fair value adjustments on investment properties and other investments to be recognised in the income statement. The director subsequently made an election to transfer these amounts out of retained earnings into a non distributable reserve.This transfer is made net of any deferred tax adjustment arising on the revaluation of the property.

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Mason BSc FCA (Senior Statutory Auditor)

for and on behalf of FKCA Limited

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A G Nardini.

Ditta Bortolo Nardini SPA, incorporated in Italy, is regarded by the director as being the company's ultimate parent. Ditta Bortolo Nardini SPA's registered office is Ponte Vecchio, 36061, Bassano del Grappa VI.