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AAPG (PROPERTY) LIMITED

Registered Number
10210991
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2026

AAPG (PROPERTY) LIMITED
Company Information
for the year from 1 April 2025 to 31 March 2026

Directors | Adrian Palmer-Geaves
| Kate Palmer-Geaves

Registered Address | 24 Old Bond Street
| London
| W1S 4AP

Registered Number | 10210991 (England and Wales)

AAPG (PROPERTY) LIMITED
Balance Sheet as at
31 March 2026

| Notes | 2026 |  | 2025
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Investment property | 3 |  |  | 2,289,707 |  |  |  | 2,289,707
|  |  |  | 2,289,707 |  |  |  | 2,289,707
Current assets |  |  |  |  |  |  |  |
Debtors | 4 | 10,172 |  |  |  | 11,086 |  |
Cash at bank and on hand |  | 21,717 |  |  |  | 26,378 |  |
|  | 31,889 |  |  |  | 37,464 |  |
Creditors amounts falling due within one year | 5 | (11,399) |  |  |  | (12,217) |  |
Net current assets (liabilities) |  |  |  | 20,490 |  |  |  | 25,247
Total assets less current liabilities |  |  |  | 2,310,197 |  |  |  | 2,314,954
Creditors amounts falling due after one year | 6 |  |  | (1,854,090) |  |  |  | (1,880,557)
Provisions for liabilities | 7 |  |  | (77,496) |  |  |  | (77,496)
Net assets |  |  |  | 378,611 |  |  |  | 356,901
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 100 |  |  |  | 100
Revaluation reserve |  |  |  | 330,376 |  |  |  | 330,376
Profit and loss account |  |  |  | 48,135 |  |  |  | 26,425
Shareholders' funds |  |  |  | 378,611 |  |  |  | 356,901

- The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
- The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
- These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
- The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 21 July 2026, and are signed on its behalf by:
Adrian Palmer-Geaves Director Registered Company No. 10210991

AAPG (PROPERTY) LIMITED
Notes to the Financial Statements
for the year ended 31 March 2026

1. | Accounting policies
--- | ---

| Statutory information
--- | ---
| The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The company's ultimate parent is AAPG Investments UK Limited, incorporated in England. The ultimate controlling party is Mr A Palmer-Geaves.

| Statement of compliance
--- | ---
| The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

| Functional and presentation currency
--- | ---
| The financial statements are presented in sterling and this is the functional currency of the company.

| Turnover policy
--- | ---
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

| Interest income
--- | ---
| Interest income is recognised using the effective interest rate method.

| Finance costs
--- | ---
| Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.

| Foreign currency translation
--- | ---
| Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

| Current taxation
--- | ---
| Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

| Deferred tax
--- | ---
| Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

| Investment property
--- | ---
| Investment property is carried at fair value, derived from the market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

| Trade and other debtors
--- | ---
| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

| Trade and other creditors
--- | ---
| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

| Related parties
--- | ---
| For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.

2. | Average number of employees
--- | ---

|  | 2026 |  | 2025
| Average number of employees during the year | 2 |  | 2

3. | Investment property
--- | ---
| The properties have been valued by a qualified independent valuer. The carrying value of the properties within the balance sheet is not materially different to their fair value at the balance sheet date.

|  | £
| Fair value at 01 April 25 | 2,289,707
| At 31 March 26 | 2,289,707

4. | Debtors: amounts due within one year
--- | ---

|  | 2026 |  | 2025
--- | --- | --- | --- | ---
|  | £ |  | £
| Other debtors | 4,000 |  | 4,094
| Prepayments and accrued income | 6,172 |  | 6,992
| Total | 10,172 |  | 11,086

5. | Creditors: amounts due within one year
--- | ---

|  | 2026 |  | 2025
--- | --- | --- | --- | ---
|  | £ |  | £
| Taxation and social security | 5,276 |  | 6,567
| Accrued liabilities and deferred income | 6,123 |  | 5,650
| Total | 11,399 |  | 12,217

6. | Creditors: amounts due after one year
--- | ---

|  | 2026 |  | 2025
--- | --- | --- | --- | ---
|  | £ |  | £
| Bank borrowings and overdrafts | 406,000 |  | 406,000
| Amounts owed to related parties | 584,092 |  | 586,092
| Other creditors | 863,998 |  | 888,465
| Total | 1,854,090 |  | 1,880,557

7. | Provisions for liabilities
--- | ---

|  | 2026 |  | 2025
--- | --- | --- | --- | ---
|  | £ |  | £
| Net deferred tax liability (asset) | 77,496 |  | 77,496
| Total | 77,496 |  | 77,496

8. | Related party transactions
--- | ---
| Within creditors amounts falling due after more than one year is an amount of £863,998 (2025 - £888,465) due to the company directors, the loan is interest free and not due for repayment until after 31 March 2027. Within creditors amounts falling due after more than one year is an amount of £584,092 (2025 - £586,092) due to the parent company AAPG Investments UK Limited, the loan is interest free and not due for repayment until after 31 March 2027.