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REGISTERED NUMBER: 01851958 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2025

FOR

THREE RIVERS PROPERTY INVESTMENTS

LIMITED

| THREE RIVERS PROPERTY INVESTMENTS |

| LIMITED (REGISTERED NUMBER: 01851958) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 1 NOVEMBER 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| THREE RIVERS PROPERTY INVESTMENTS |

| LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 1 NOVEMBER 2025

| DIRECTORS: | E J S Gadsden

| C Gadsden

| S Gadsden

| SECRETARY: | C Gadsden

| REGISTERED OFFICE: | Hawridge Place

| Hawridge

| Chesham

| Buckinghamshire

| HP5 2ZD

| REGISTERED NUMBER: | 01851958 (England and Wales)

| AUDITORS: | EV Accountants Limited

| Chartered Accountants & Statutory Auditors

| Unit 201, Second Floor

| Metroline House

| 118-122 College Road

| Harrow

| Middlesex

| HA1 1BQ

| THREE RIVERS PROPERTY INVESTMENTS |

| LIMITED (REGISTERED NUMBER: 01851958) |

BALANCE SHEET

1 NOVEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investment properties | 4 | 43,112,284 |  | 44,407,643 |  |

CURRENT ASSETS

Debtors | 5 | 32,011,250 |  | 28,851,368 |  |

Cash at bank | 142,535 |  | 88,439 |  |

32,153,785 |  | 28,939,807 |  |

CREDITORS

Amounts falling due within one year | 6 | 2,847,099 |  | 2,249,801 |  |

NET CURRENT ASSETS | 29,306,686 |  | 26,690,006 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 72,418,970 |  | 71,097,649 |  |

CAPITAL AND RESERVES

Called up share capital | 7 | 100 |  | 100 |  |

Fair value reserve | 8 | 14,800,371 |  | 16,511,371 |  |

Retained earnings | 8 | 57,618,499 |  | 54,586,178 |  |

SHAREHOLDERS' FUNDS | 72,418,970 |  | 71,097,649 |  |

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 19 July 2026 and were signed on its behalf by:

E J S Gadsden - Director

| THREE RIVERS PROPERTY INVESTMENTS |

| LIMITED (REGISTERED NUMBER: 01851958) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 1 NOVEMBER 2025

1. | STATUTORY INFORMATION

| Three Rivers Property 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.

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.

| Going concern

| The financial statements have been prepared on the going concern basis and the directors confirm their belief in the company's ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements.

| Turnover

| Turnover comprises rent, service charges and insurance recharged to the tenant based on the period of occupancy in line with the lease agreement. Turnover is shown net to value added tax, rebates and discounts.

| Turnover also includes dilapidation income based on the lease agreement which is recognised based on the proportion of work carried out for the relevant property.

| 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.

| Financial instruments

| The company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issue' 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 of 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 not amortised.

| Clarification 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 an 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.

| THREE RIVERS PROPERTY INVESTMENTS |

| LIMITED (REGISTERED NUMBER: 01851958) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 1 NOVEMBER 2025

2. | ACCOUNTING POLICIES - continued

| 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 3 (2024 - 3 ) .

4. | INVESTMENT PROPERTIES

| Total

£ |

| FAIR VALUE

| At 2 November 2024 | 44,407,643 |  |

| Additions | 415,641 |  |

| Revaluations | (1,711,000 | ) |

| At 1 November 2025 | 43,112,284 |  |

| NET BOOK VALUE

| At 1 November 2025 | 43,112,284 |  |

| At 1 November 2024 | 44,407,643 |  |

| Fair value at 1 November 2025 is represented by:

£ |

| Valuation in 2017 | 13,301,502 |  |

| Valuation in 2018 | (63,500 | ) |

| Valuation in 2020 | 1,500,000 |  |

| Valuation in 2024 | 1,773,413 |  |

| Valuation in 2025 | (1,711,000 | ) |

| Cost | 28,311,869 |  |

43,112,284 |  |

| If investment properties had not been revalued they would have been included at the following historical cost:

2025 | 2024 |

£ | £ |

| Cost | 28,311,869 |  | 27,896,228 |  |

| Investment properties were valued on an open market basis on by E J S Gadsden .

| THREE RIVERS PROPERTY INVESTMENTS |

| LIMITED (REGISTERED NUMBER: 01851958) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 1 NOVEMBER 2025

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

2025 | 2024 |

£ | £ |

| Trade debtors | 116,040 |  | 35,425 |  |

| Amounts owed by connected companies | 31,782,441 |  | 28,691,196 |  |

| Other debtors | 112,769 |  | 124,747 |  |

32,011,250 |  | 28,851,368 |  |

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

2025 | 2024 |

£ | £ |

| Amounts owed to group undertakings | 412,950 |  | 421,000 |  |

| Amounts owed to connected companies | 84,792 |  | - |  |

| Taxation and social security | 1,210,704 |  | 435,826 |  |

| Other creditors | 1,138,653 |  | 1,392,975 |  |

2,847,099 |  | 2,249,801 |  |

7. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

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

8. | RESERVES

| Fair |

| Retained |  | value |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 2 November 2024 | 54,586,178 |  | 16,511,371 |  | 71,097,549 |  |

| Profit for the year | 1,321,321 |  | 1,321,321 |  |

| Movement on revaluation | 1,711,000 |  | (1,711,000 | ) | - |  |

| At 1 November 2025 | 57,618,499 |  | 14,800,371 |  | 72,418,870 |  |

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

| The Report of the Auditors was unqualified.

| Binoy Mistry BA FCA (Senior Statutory Auditor)

| for and on behalf of EV Accountants Limited

10. | RELATED PARTY DISCLOSURES

| During the year, the company paid management fees of £Nil (2024 - £2,116) to Celasar Limited, a company in which S Gadsden is a director and shareholder.

| At the year end, the company was owed by W E Black Finance Limited an amount of £31,782,441 (2024 - £28,691,196). W E Black Finance Limited is a wholly owned subsidiary of W.E.Black Limited.

| At the year end, the company owed Heronsgate Management Limited an amount of £412,950 (2024 - £421,000) in relation to a related company loan. Heronsgate Management Limited is a fellow subsidiary of the parent company, Church Cottage Investments Limited. The company also owed W.E.Black Limited an amount of £84,792 (2024 - £Nil). E J S Gadsden and C Gadsden are directors and shareholders and S Gadsden is a director of W.E.Black Limited.

| THREE RIVERS PROPERTY INVESTMENTS |

| LIMITED (REGISTERED NUMBER: 01851958) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 1 NOVEMBER 2025

11. | ULTIMATE CONTROLLING PARTY

| The ultimate parent company is Church Cottage Investments Limited, a company incorporated in England. The company is controlled by Church Cottage Investments Limited.