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Registered number: 15790064 FRELMI PROPERTIES LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2025
FRELMI PROPERTIES LIMITED CONTENTS
| Page
Balance sheet | 1 - 2
Notes to the financial statements | 3 - 8
FRELMI PROPERTIES LIMITED REGISTERED NUMBER: 15790064 BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investment property | 5 |  | 2,267,117 |  | 2,267,117
Tangible assets | 4 |  | 1,142 |  | -
|  |  | 2,268,259 |  | 2,267,117
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 8,881 |  | 7,228 |
Cash at bank and in hand | 7 | 47,865 |  | 9,771 |
|  | 56,746 |  | 16,999 |
Creditors: amounts falling due within one year | 8 | (2,321,283) |  | (2,314,197) |
Net current liabilities |  |  | (2,264,537) |  | (2,297,198)
Total assets less current liabilities |  |  | 3,722 |  | (30,081)
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (286) |  | - |
|  |  | (286) |  | -
Net assets/(liabilities) |  |  | 3,436 |  | (30,081)
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 1 |  | 1
Profit and loss account |  |  | 3,435 |  | (30,082)
|  |  | 3,436 |  | (30,081)
1
FRELMI PROPERTIES LIMITED REGISTERED NUMBER: 15790064 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2025 The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
A Beim
Director
Date: 2 August 2026
The notes on pages 3 to 8 form part of these financial statements. 2
FRELMI PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
The company is a private company, limited by shares and registered in England and Wales, registration number 15790064. The registered address of the company is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE. The principal activity of the company continued to be that of property investment. The financial statements for the prior period were prepared for a period of 6 months and 10 days. Accordingly, the comparative figures are not directly comparable with those of the current period. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The company's functional and presentational currency is pound sterling. The following principal accounting policies have been applied:
| 2.2 | Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rental income Rental income from a contract is recognised in the period in which the tenancy is provided in accordance with the stage of completion of the contract when both of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; and ∙it is probable that the company will receive the consideration due under the contract. 3
FRELMI PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.3 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.4 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Computer equipment | - | 25% |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. 4
FRELMI PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.5 | Investment property
Investment property is carried at fair value determined annually by external valuers or a director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
| 2.6 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.7 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.8 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.9 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.10 | Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to related party.
3. | Employees
| The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
5
FRELMI PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
4. | Tangible fixed assets
|  | Computer equipment
|  | £
| Cost or valuation |
| Additions | 1,218
| At 31 December 2025 | 1,218
| Depreciation |
| Charge for the year | 76
| At 31 December 2025 | 76
| Net book value |
| At 31 December 2025 | 1,142
5. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 1 January 2025 | 2,267,117
| At 31 December 2025 | 2,267,117
The fair value of the investment property has been determined by the director on an open market value basis, with reference to relevant market evidence.
| If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Historic cost | 2,267,117 | 2,267,117
6
FRELMI PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other debtors | 2,438 | 999
| Prepayments and accrued income | 6,443 | 6,229
|  | 8,881 | 7,228
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 47,865 | 9,771
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 8,159 | 1,180
| Amounts owed to group undertakings | 2,294,680 | 2,295,163
| Corporation tax | 753 | -
| Other creditors | 2,068 | 1,854
| Accruals and deferred income | 15,623 | 16,000
|  | 2,321,283 | 2,314,197
9. | Deferred taxation
|  | 2025
|  | £
| Charged to profit or loss | 286
| At end of year | 286
7
FRELMI PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 9.Deferred taxation (continued)
| The deferred taxation balance is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | 286 | -
10. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1 Ordinary share of £1.00 | 1 | 1
11. | Related party transactions
| No disclosure has been made of transactions with other wholly owned group companies in accordance with FRS 102 Section 1A paragraph 1AC.35. At the year end, included in other creditors is £1,854 (2024 - £1,854) due to a director. The loan is interest free and repayable on demand.
12. | Post balance sheet events
Subsequent to the year end, on 31 March 2026, the company became a wholly owned subsidiary of Frelmi Limited. This transaction did not affect the company’s financial position at the balance sheet date and has not been reflected in these financial statements.
8