The directors present the strategic report for the year ended 31 December 2025.

The principal activity of the company was that of property investment and development of current properties.

Atlip House Limited is engaged in property investment and redevelopment. The company owns freehold commercial properties in Wembley, London, which are currently leased to a range of tenants including retail shops, banqueting halls, fitness clubs, and gyms.

During the year under review, the company’s financial performance was adversely affected by ongoing redevelopment activities. Many of the commercial rental leases have been issued on low value short-term periods due to imminent requirement to vacate tenants to commence construction works. This has impacted profitability. However, these short-term measures are part of a longer-term strategy aimed at significantly increasing asset value and income potential post-redevelopment.

The company owns freehold investment properties in Wembley,London. The company is letting commercial units to various retail shops,clubs and gym. The underlying health of the business is not profitable for current year. The company has commercial rental contracts with business tenants on short term basis due to current development work and income for the year decreased from £394,184 to £365,586

The company continues to invest in development and improving the property and its integral assets. The directors regard this investment as being integral to continuing success of the business and ensure the company provides tenants with a commercial unit in a business hub.

Financial instruments

The company’s principal financial instruments include bank balances, trade receivables, and trade payables. These instruments are primarily used to support operational financing and maintain liquidity.

Liquidity risk is managed by maintaining sufficient cash flow from rental and service charge income, as well as through financial support from a related company. Trade creditor risk is mitigated by ensuring adequate funds are available to meet obligations as they fall due. Capital expenditure is closely monitored, and cash flows are managed to ensure that investment in development work is appropriately reflected in the value of property assets under construction.

Market Demand Risk

Fluctuations in market demand for commercial rental space could affect income stability in the short term, especially during redevelopment phases.

Development and Plannng Risk

The success of the redevelopment depends on the timely execution of construction and adherence to planning requirements.

Global Impact of emerging risks

The directors believe it too early to understand fully the longer term impact of the war in Ukraine but the directors believe the company is well placed to weather any shorter term impacts of uncertainties.

The property sector highlights the risks inherent in a single sector property sector,therefore the company have strategies to continue development work for commercial and residential rental markets. The current strategy is to have growth in commercial and residential sector in city centres

Going concern

The directors are pursuing a joint venture partnership to support the delivery of a major redevelopment project for which full planning permission has been granted by Brent London Borough Council. While construction work is not expected to commence until late 2026, securing planning consent represents a key milestone in the company’s long-term strategy.

In the interim, the company continues to generate income through short-term commercial lettings and is supported by related party funding. Based on current cash flow projections, ongoing financial support, and the strategic value of the approved redevelopment, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis

The directors consider the company’s key performance indicators to be the value of fixed assets and the level of rental and service charge income. These metrics are central to assessing the financial health and operational performance of the business, particularly during the redevelopment phase.

2025 2024

£ £

Fixed Assets 20,232,183 20,051,243

Rent and service charge income 365,586 394,184

The directors have complied with the requirements of S172 of the Companies Act 2006. The duties are detailed in section 172 of the Companies Act 2006 are summarised as follows:

The directors of a company must act in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its shareholders as a whole, and in doing so have regard (amongst other matters) to

-the likely consequences of any decisions in the long term,

-the interests of the company's employees,

-the need to foster the company's business relationships with suppliers, customers and others,

-the impact of the company's operations on the community and environment,

-the desirability of the company maintaining a reputation for high standards of business conduct ,and

-the need to act fairly as between members of the company.

Employee practices

The company is committed to equal opportunities and maintaining a respectful and inclusive working environment. Policies addressing non-discrimination on the grounds of gender, race, nationality, ethnicity, religion, disability, age, marital status, family circumstances, sexual orientation, or trade union activity are embedded within the company’s operations manual. These policies guide recruitment, training, promotion, and discipline.

Although the company currently does not employ staff beyond its directors, it acknowledges the role of individuals engaged through third-party service providers for property management and administrative support. The company upholds high standards of workplace conduct for all individuals contributing to its operations and maintains safeguards to ensure diversity, respect, and fair treatment

Engagement with suppliers,customers and others

The company values the relationship it has with suppliers and customers (Tenants) and undertakes regular communications to comply the needs of the company and needs of supplier or customers. For long term relationship supplier contracts and customer leases are professionally communicated.

The company has a corporate social responsibility to operate safely and effectively within the local community.

On behalf of the board

The directors present their annual report and financial statements for the year ended 31 December 2025.

The principal activity of the company continued to be that of property investment and development of property into commercial units for retail business.

The results for the year are set out on page 9.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Shenward LLP were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

In accordance with the requirements of The Companies (Directors' Report) and limited liability partnerships (Energy and Carbon Report) regulation 2018 the directors would like to disclose the following information for the year ended 31 December 2024 and 31 December 2025.

We have followed the 2019 HM Government Environmental Reporting Guidelines. We have also used the GHG Reporting Protocol – Corporate Standard and have used the 2020 UK Government’s Conversion Factors for Company Reporting.

The chosen intensity measurement ratio is total gross emissions in metric tonnes CO2e per tenants

a) Continuous monitoring and control of use of heating and power in common areas used by the tenants

b) Investing in green energy initiatives at sites under development work

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;

• make judgements and accounting estimates that are reasonable and prudent;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

We have audited the financial statements of Atlip House Limited (the 'company') for the year ended 31 December 2025 which comprise the profit and loss account, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 December 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

• the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the directors' report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of directors' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Discussions were held with the directors with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. The outcome of these discussions and enquiries were shared with the engagement team, as well as consideration as to where and how fraud may occur in the entity.

The following laws and regulations were identified as being of significance to the entity:

The laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law, Tax and Pensions legislation, and distributable profits legislation.

Those laws and regulations considered to have a direct effect on the day to day operations of the company include General Data Protection Regulation (GDPR)

It is considered that there are no laws and regulations for which non-compliance may be fundamental to the operating aspects of the business.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: inquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of board minutes; testing the appropriateness of entries in the nominal ledger, including journal entries; reviewing transactions around the year end of the reporting period; and the performance of analytical procedures to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. There is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with the ISAs (UK).

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

Atlip House Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor, Kirkland House, 11-15 Peterborough Road, Harrow, Middlesex, HA1 2AX.

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.

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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

• Section 4 ‘Statement of Financial Position’ – Reconciliation of the opening and closing number of shares;

• Section 7 ‘Statement of Cash Flows’ – Presentation of a statement of cash flow and related notes and disclosures;

• Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’ – Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

• Section 26 ‘Share based Payment’ – Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

• Section 33 ‘Related Party Disclosures’ – Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Asian Agri Investments Ltd. These consolidated financial statements are available from its registered office at Lot 1, 2nd Floor,Wisma Siamloh, Jalan Kemajuan 87007, Federal Territory of Labuan Malaysia.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The financial statements are prepared on the going concern basis as Barrowfen Properties Ltd, the fellow group undertaking, has agreed to provide financial support to the company such that it can continue to trade and meet its liabilities as they fall due. This support will continue for a period of at least 18 months from the date of approval of these financial statements.

The directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. At the balance sheet date the company had net current liabilities of £2,614,786 (2024:2,680,932). Thus, the directors continue to prepare the financial statements on a going concern basis. Further information regarding the company's business activities, together with the factors likely to affect its future development, performance and position is set out in the Strategic Report.

Other operating income represents amounts receivable for rental and service charges from commercial properties. Other income recognised at the fair value of the rent received or receivable from letting business and service charges provided in the normal course of business.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and assets in the course of construction are not depreciated.

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. The surplus or deficit on revaluation is recognised in profit or loss.

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.

Where a reasonable and consistent basis of allocation can be identified, assets are allocated to individual cash-generating units, or otherwise they are allocated to the smallest group of cash-generating units for which a reasonable and consistent allocation basis can be identified.

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 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 only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from bank and other third parties.

Financial liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle the liability simultaneously.

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.

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 profit or loss, 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.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transactions, where the debt instruments is measured at the present value of the future payments discounted at market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

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 profit and loss account 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 liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.

In the application of the company’s accounting policies, the directors are 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 average monthly number of persons (including directors) employed by the company during the year was:

Their aggregate remuneration comprised:

The actual credit for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:

The company incurred expenses £180,940 (2024: £956,245) for a new development at 2 Atlip Road London. The building development work was not yet completed and therefore cost of development included as building cost under construction.

The carrying value of land and buildings comprises

1 Atlip Road- Land and building Purchased on 11 December 2018 £8,750,000

Shops, clubs and commercial buildings

2 Atlip Road-Land and Building

Large Industrial Unit, warehouse £6,850,000

Total fair value of properties £15,600,000

1 Atlip Road -Land and building

The property acquired on 11 December 2018 at market value. The fair value of the investment properties have been arrived at on the basis of a valuation carried out at 31 December 2025 by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

2 Atlip Road-Land and building

On 15 June 2018 Atlip House Limited ( Formerly Ary properties Limited) acquired by Asian Agri Investments Limited and the above property was at fair value for the period ended 31 December 2025.The property is under development planning and revaluation of land carried out for the year ended 31 December 2025.

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

The company was acquired by Asian Agri Investment Limited on 15 June 2018. Asian Agri Investments Limited was registered in Federal Territory of Labuan, Malaysia.

During the year the movements in reserves relate to loss for the year ended 31 December 2025 and year ended 31 December 2024.

The other reserves - non distributable for the year ended 31 December 2025 £1,695,181 and 31 December 2024 were ££1,695,181 relating to fair value adjustment of investment property and deferred tax liability of £565,061 (2024:£565,061) on fair value adjustment.

The related party transactions and balances are as follows:

2025 2024

£ £

Prashant Patel - Director's fees - 60,000

Director's loan - Prashant Patel 338,770 338,770

At the year end, an amount of £2,990,624 ( 2024: £2,975,825) is due to Barrowfen Properties Limited, company with common director. Interest is charged at a rate of Sonia+4% on the loan from the agreement dated 31 December 2022.

The company's ultimate parent undertaking is Asian Agri InvestmentsLimited, a company registered in Federal Territory of Labuan, Malaysia.