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REGISTERED NUMBER: 06883096 (England and Wales)

| GROUP STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |

| CONSOLIDATED FINANCIAL STATEMENTS |

| FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025 |

| FOR |

| CARIDON PROPERTY LIMITED |

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

Page |

| Company Information | 1 |

| Group Strategic Report | 2 |

| Report of the Director | 4 |

| Report of the Independent Auditors | 5 |

| Consolidated Income Statement | 8 |

| Consolidated Other Comprehensive Income | 9 |

| Consolidated Statement of Financial Position | 10 |

| Company Statement of Financial Position | 11 |

| Consolidated Statement of Changes in Equity | 12 |

| Company Statement of Changes in Equity | 13 |

| Consolidated Statement of Cash Flows | 14 |

| Notes to the Consolidated Statement of Cash Flows | 15 |

| Notes to the Consolidated Financial Statements | 16 |

| CARIDON PROPERTY LIMITED |

COMPANY INFORMATION

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

| DIRECTOR: | M J Carrozzo

| REGISTERED OFFICE: | 1 Kings Avenue

| Winchmore Hill

| London

| N21 3NA

| REGISTERED NUMBER: | 06883096 (England and Wales)

| AUDITORS: | AGK Partnership Ltd

| Chartered Accountants & Statutory Auditors

| 1 Kings Avenue

| Winchmore Hill

| London

| N21 3NA

| BANKERS: | Barclays Bank Plc

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

GROUP STRATEGIC REPORT

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

The director presents his strategic report of the company and the group for the period 1 November 2023 to 30 April 2025.

REVIEW OF BUSINESS

The principal activities of the group during the period were specialist rent guarantee, lettings and property management services.

The period under review covered 18 months following the change in accounting reference date to 30 April 2025. As a result, the current period results are not directly comparable with the 12-month comparative year ended 31 October 2023.

The group reported revenue of £40,299,506 for the period (2023: £23,273,693), with gross profit increasing to £6,460,566 (2023: £3,259,785). Gross margin improved to 16.03% (2023: 14.01%), reflecting continued management of direct costs and the composition of services delivered during the period.

Profit before taxation for the period was £789,770 (2023: £700,308). Although the group remained profitable, administrative expenses increased to £5,670,289 (2023: £2,620,979), reflecting the longer reporting period, continued investment in operational capacity and the cost base required to support the expanded property portfolio.

The group continued to operate within a competitive market and maintained its focus on service quality, cost control, debtor collection and the management of working capital. The director remains focused on maintaining existing customer and local authority relationships while pursuing commercially appropriate opportunities for growth.

PRINCIPAL RISKS AND UNCERTAINTIES

The director actively monitors the principal risks affecting the group. The principal risks and uncertainties considered relevant to the group are set out below.

Competition Risk

The group operates in a competitive market and is dependent on maintaining strong relationships with landlords, tenants and local authority partners. Certain arrangements may be subject to competitive tender or renewal processes. The director mitigates this risk through service quality, pricing discipline, monitoring customer requirements and maintaining regular communication with key stakeholders.

Credit risk

The group is exposed to the risk that customers or counterparties fail to discharge amounts due. This risk is managed through credit control procedures, monitoring of aged debt, review of recoverability and escalation of overdue balances where appropriate.

Liquidity and working capital risk

The group requires sufficient liquidity to meet landlord payments, supplier obligations and operating costs as they fall due. At 30 April 2025, the group had net current assets of £1,980,105 (2023: £1,618,732) and cash at bank and in hand of £835,905 (2023: £1,674,607). Cash decreased during the period, principally reflecting working capital movements, including an increase in debtors. The director continues to monitor cash flow forecasts, debtor collection and supplier payment profiles.

Regulatory and compliance risk

The group operates in a regulated property and lettings environment and is required to comply with relevant legal, contractual and operational obligations. The director seeks to manage this risk through internal procedures, oversight of operational teams and regular review of compliance matters.

Reputational risk

The group's reputation is important to maintaining relationships with customers, landlords, tenants and local authorities. The director seeks to mitigate reputational risk by maintaining service standards, responding to issues on a timely basis and monitoring operational performance.

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

GROUP STRATEGIC REPORT

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

KEY PERFORMANCE INDICATORS

The director considers the following to be the key performance indicators of the group. The current period covers 18 months and the comparative figures are for the year ended 31 October 2023.

Details |  | 2025 |  | 2023 |

Revenue |  | £40,299,506 |  | £23,273,693 |

Gross profit |  | £6,460,566 |  | £3,259,785 |

Gross margin |  | 16.03% |  | 14.01% |

Profit before tax |  | £789,770 |  | £700,308 |

Net assets |  | £2,658,673 |  | £2,253,833 |

Net current assets |  | £1,980,105 |  | £1,618,732 |

FINANCIAL POSITION

The group remained profitable during the period and continues to manage its cost base and working capital closely. Cash at bank and in hand reduced to £835,905 (2023: £1,674,607), primarily reflecting working capital movements in the period. The director continues to monitor cash flow, debtor recovery and operational expenditure to support the group's ongoing activities.

FUTURE DEVELOPMENTS

The director intends to continue developing the group through disciplined growth, maintaining relationships with existing partners and pursuing further opportunities in the property management and rent guarantee market where commercially appropriate. The group will continue to focus on service quality, cost control and working capital management.

ON BEHALF OF THE BOARD:

M J Carrozzo - Director

3 December 2025

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

REPORT OF THE DIRECTOR

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

The director presents his report with the financial statements of the company and the group for the period 1 November 2023 to 30 April 2025.

DIVIDENDS

An interim dividend of 203.994 per share on the Ordinary B £0.1 shares amounting to £203,994 was paid on 30 April 2025. The director recommends that no final dividend be paid on these shares.

No interim dividend was paid on the Ordinary £0.01 shares. The director recommends that no final dividend be paid on these shares.

No interim dividend was paid on the Ordinary D £0.01 shares. The director recommends that no final dividend be paid on these shares.

The total distribution of dividends for the period ended 30 April 2025 will be £203,994.

EVENTS SINCE THE END OF THE PERIOD

Information relating to events since the end of the period is given in the notes to the financial statements.

DIRECTOR

M J Carrozzo held office during the whole of the period from 1 November 2023 to the date of this report.

POLITICAL DONATIONS AND EXPENDITURE

During the year, the company made charitable donations of £22,296 (2023: £3,388).

DIRECTOR'S RESPONSIBILITIES STATEMENT

The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, AGK Partnership Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M J Carrozzo - Director

3 December 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CARIDON PROPERTY LIMITED

Opinion

We have audited the financial statements of Caridon Property Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 30 April 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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 group's and of the parent company affairs as at 30 April 2025 and of the group's profit for the period 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 director's 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 group's and the parent 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:

- | the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- | the parent company financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of director's remuneration specified by law are not made; or

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CARIDON PROPERTY LIMITED

Responsibilities of director

As explained more fully in the Director's Responsibilities Statement set out on page four, the director is 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 director determines 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 director is responsible for assessing the group's and the parent 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 director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognize non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other

management, and from our commercial knowledge and experience of the industry;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of

management and inspecting legal correspondence; and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of

actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of

potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators, and the company's legal advisors.

There are inherent limitations in our audit procedure described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with law and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CARIDON PROPERTY LIMITED

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 a Report of the Auditors 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.

Alekos Christofi (FCCA) (Senior Statutory Auditor)

for and on behalf of AGK Partnership Ltd

Chartered Accountants & Statutory Auditors

1 Kings Avenue

Winchmore Hill

London

N21 3NA

3 December 2025

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

CONSOLIDATED

INCOME STATEMENT

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

| Period |

| 1.11.23 |

| to |  | Year Ended

| 30.4.25 |  | 31.10.23

| Notes | £ | £ |

REVENUE | 3 | 40,299,506 |  | 23,273,693 |  |

Cost of sales | 33,838,940 |  | 20,013,908 |  |

GROSS PROFIT | 6,460,566 |  | 3,259,785 |  |

Administrative expenses | 5,670,289 |  | 2,620,979 |  |

790,277 |  | 638,806 |  |

Other operating income | 11,880 |  | 70,127 |  |

OPERATING PROFIT | 6 | 802,157 |  | 708,933 |  |

Interest receivable and similar income | 9 |  | 163 |  |

802,166 |  | 709,096 |  |

Interest payable and similar expenses | 7 | 12,396 |  | 8,788 |  |

PROFIT BEFORE TAXATION | 789,770 |  | 700,308 |  |

Tax on profit | 8 | 180,961 |  | 200,963 |  |

PROFIT FOR THE FINANCIAL PERIOD | 608,809 |  | 499,345 |  |

Profit attributable to:

Owners of the parent | 609,844 |  | 499,345 |  |

Non-controlling interests | (1,035 | ) | - |  |

608,809 |  | 499,345 |  |

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

CONSOLIDATED

OTHER COMPREHENSIVE INCOME

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

| Period |

| 1.11.23 |

| to |  | Year Ended

| 30.4.25 |  | 31.10.23

| Notes | £ | £ |

PROFIT FOR THE PERIOD | 608,809 |  | 499,345 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD | 608,809 |  | 499,345 |  |

Total comprehensive income attributable to:

Owners of the parent | 609,844 |  | 499,345 |  |

Non-controlling interests | (1,035 | ) | - |  |

608,809 |  | 499,345 |  |

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

30 APRIL 2025

| 2025 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Property, plant and equipment | 11 | 878,682 |  | 841,860 |  |

Investments | 12 |

| Interest in associate | 185 |  | 185 |  |

878,867 |  | 842,045 |  |

CURRENT ASSETS

Debtors | 13 | 4,765,417 |  | 3,657,112 |  |

Cash at bank and in hand | 835,905 |  | 1,674,607 |  |

5,601,322 |  | 5,331,719 |  |

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | 14 | 3,621,217 |  | 3,712,987 |  |

NET CURRENT ASSETS | 1,980,105 |  | 1,618,732 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,858,972 |  | 2,460,777 |  |

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | 15 | (20,270 | ) | (15,833 | ) |

PROVISIONS FOR LIABILITIES | 18 | (180,029 | ) | (191,111 | ) |

NET ASSETS | 2,658,673 |  | 2,253,833 |  |

CAPITAL AND RESERVES

Called up share capital | 19 | 200 |  | 200 |  |

Capital redemption reserve | 20 | 5 |  | 5 |  |

Retained earnings | 20 | 2,659,478 |  | 2,253,628 |  |

SHAREHOLDERS' FUNDS | 2,659,683 |  | 2,253,833 |  |

NON-CONTROLLING INTERESTS | (1,010 | ) | - |  |

TOTAL EQUITY | 2,658,673 |  | 2,253,833 |  |

The financial statements were approved by the director and authorised for issue on 3 December 2025 and were signed by:

M J Carrozzo - Director

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

COMPANY STATEMENT OF FINANCIAL POSITION

30 APRIL 2025

| 2025 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Property, plant and equipment | 11 | 576,002 |  | 554,131 |  |

Investments | 12 | 1,260 |  | 285 |  |

577,262 |  | 554,416 |  |

CURRENT ASSETS

Debtors | 13 | 4,776,716 |  | 3,414,506 |  |

Cash at bank and in hand | 783,568 |  | 1,629,575 |  |

5,560,284 |  | 5,044,081 |  |

CREDITORS

Amounts falling due within one year | 14 | 3,459,529 |  | 3,502,903 |  |

NET CURRENT ASSETS | 2,100,755 |  | 1,541,178 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,678,017 |  | 2,095,594 |  |

CREDITORS

Amounts falling due after more than one year | 15 | (833 | ) | (15,833 | ) |

PROVISIONS FOR LIABILITIES | 18 | (143,178 | ) | (137,000 | ) |

NET ASSETS | 2,534,006 |  | 1,942,761 |  |

CAPITAL AND RESERVES

Called up share capital | 19 | 200 |  | 200 |  |

Capital redemption reserve | 20 | 5 |  | 5 |  |

Retained earnings | 20 | 2,533,801 |  | 1,942,556 |  |

SHAREHOLDERS' FUNDS | 2,534,006 |  | 1,942,761 |  |

Company's profit for the financial year | 795,239 |  | 682,781 |  |

The financial statements were approved by the director and authorised for issue on 3 December 2025 and were signed by:

M J Carrozzo - Director

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

| Called up |  | Capital

| share |  | Retained |  | redemption

| capital |  | earnings |  | reserve

£ | £ | £ |

Balance at 1 November 2022 | 200 |  | 1,890,279 |  | 5 |  |

Changes in equity

Dividends | - |  | (135,996 | ) | - |  |

Total comprehensive income | - |  | 499,345 |  | - |  |

Balance at 31 October 2023 | 200 |  | 2,253,628 |  | 5 |  |

Changes in equity

Dividends | - |  | (203,994 | ) | - |  |

Total comprehensive income | - |  | 609,844 |  | - |  |

200 |  | 2,659,478 |  | 5 |  |

Acquisition of non-controlling interest | - |  | - |  | - |  |

Balance at 30 April 2025 | 200 |  | 2,659,478 |  | 5 |  |

| Non-controlling |  | Total

| Total |  | interests |  | equity

£ | £ | £ |

Balance at 1 November 2022 | 1,890,484 |  | - |  | 1,890,484 |  |

Changes in equity

Dividends | (135,996 | ) | - |  | (135,996 | ) |

Total comprehensive income | 499,345 |  | - |  | 499,345 |  |

Balance at 31 October 2023 | 2,253,833 |  | - |  | 2,253,833 |  |

Changes in equity

Dividends | (203,994 | ) | - |  | (203,994 | ) |

Total comprehensive income | 609,844 |  | (1,035 | ) | 608,809 |  |

2,659,683 |  | (1,035 | ) | 2,658,648 |  |

Acquisition of non-controlling interest | - |  | 25 |  | 25 |  |

Balance at 30 April 2025 | 2,659,683 |  | (1,010 | ) | 2,658,673 |  |

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

| Called up |  | Capital |

| share |  | Retained |  | redemption |  | Total

| capital |  | earnings |  | reserve |  | equity

£ | £ | £ | £ |

Balance at 1 November 2022 | 200 |  | 1,395,771 |  | 5 |  | 1,395,976 |  |

Changes in equity

Dividends | - |  | (135,996 | ) | - |  | (135,996 | ) |

Total comprehensive income | - |  | 682,781 |  | - |  | 682,781 |  |

Balance at 31 October 2023 | 200 |  | 1,942,556 |  | 5 |  | 1,942,761 |  |

Changes in equity

Dividends | - |  | (203,994 | ) | - |  | (203,994 | ) |

Total comprehensive income | - |  | 795,239 |  | - |  | 795,239 |  |

Balance at 30 April 2025 | 200 |  | 2,533,801 |  | 5 |  | 2,534,006 |  |

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

| Period |

| 1.11.23 |

| to |  | Year Ended

| 30.4.25 |  | 31.10.23

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | (135,725 | ) | 866,193 |  |

Interest paid | (9,213 | ) | (8,315 | ) |

Interest element of finance lease payments paid | (3,183 | ) | (473 | ) |

Tax paid | (153,907 | ) | (140,091 | ) |

Net cash from operating activities | (302,028 | ) | 717,314 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (313,436 | ) | (343,958 | ) |

Sale of tangible fixed assets | 7,500 |  | 21,659 |  |

Interest received | 9 |  | 163 |  |

Net cash from investing activities | (305,927 | ) | (322,136 | ) |

Cash flows from financing activities

Loan repayments in year | (15,000 | ) | (10,000 | ) |

Capital repayments in year | (11,753 | ) | (22,722 | ) |

Equity dividends paid | (203,994 | ) | (135,996 | ) |

Net cash from financing activities | (230,747 | ) | (168,718 | ) |

(Decrease)/increase in cash and cash equivalents | (838,702 | ) | 226,460 |  |

Cash and cash equivalents at beginning of period | 2 | 1,674,607 |  | 1,448,147 |  |

Cash and cash equivalents at end of period | 2 | 835,905 |  | 1,674,607 |  |

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| Period |

| 1.11.23 |

| to | Year Ended

| 30.4.25 |  | 31.10.23

£ | £ |

| Profit before taxation | 789,770 |  | 700,308 |  |

| Depreciation charges | 263,975 |  | 147,168 |  |

| Loss/(profit) on disposal of fixed assets | 5,140 |  | (9,663 | ) |

| Finance costs | 12,396 |  | 8,788 |  |

| Finance income | (9 | ) | (163 | ) |

1,071,272 |  | 846,438 |  |

| (Increase)/decrease in trade and other debtors | (1,108,306 | ) | 91,482 |  |

| Decrease in trade and other creditors | (98,691 | ) | (71,727 | ) |

| Cash generated from operations | (135,725 | ) | 866,193 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

| Period ended 30 April 2025

| 30.4.25 |  | 1.11.23

£ | £ |

| Cash and cash equivalents | 835,905 |  | 1,674,607 |  |

| Year ended 31 October 2023

| 31.10.23 |  | 1.11.22

£ | £ |

| Cash and cash equivalents | 1,674,607 |  | 1,448,147 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.11.23 | Cash flow | At 30.4.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 1,674,607 |  | (838,702 | ) | 835,905 |  |

1,674,607 |  | (838,702 | ) | 835,905 |  |

| Debt

| Finance leases | (38,206 | ) | 11,753 |  | (26,453 | ) |

| Debts falling due within 1 year | (10,000 | ) | - |  | (10,000 | ) |

| Debts falling due after 1 year | (15,833 | ) | 15,000 |  | (833 | ) |

(64,039 | ) | 26,753 |  | (37,286 | ) |

| Total | 1,610,568 |  | (811,949 | ) | 798,619 |  |

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

1. | STATUTORY INFORMATION

| Caridon Property 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The financial statements have been prepared on a going concern basis as the directors are satisfied that the company will have adequate resources to meet its liability to third parties as they fall due.

| The company's principal activity during the year was that of guaranteed rent specialists.

| Basis of consolidation

| The group financial statements consolidate the financial statements of Caridon Property Limited and all its subsidiary undertakings drawn up to 30 April each year. No profit and loss account is presented for as Caridon Property Limited as permitted by section 408 of the Companies Act 2006.

| Subsidiaries are consolidated from the date of their acquisition, being the date on which the Group obtains control and continue to be consolidated until the date that such control ceases. Control comprises the power to govern the financial and operating policies of the investee so as to obtain benefit from its activities.All intra-group transactions, balances, income and expenses are eliminated on consolidation.

| Investment in Subsidiaries

| In the parent company financial statements investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

| Goodwill

| Goodwill arising on acquisition of a trade or on each business combination is capitalised, classified as an asset on the statement of financial position and amortised on a straight line basis over its useful life of 10 years. No amortisation is provided in the year of purchase.

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

2. | ACCOUNTING POLICIES - continued

| Critical accounting judgements and key sources of estimation uncertainty

| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, the accompanying disclosures, and the disclosure of contingent liabilities, at the end of the reporting period. However, uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of the assets or liabilities affected in future periods.

| The Group's management believes that judgements, estimates and assumptions used in the preparation of the financial statements are appropriate given the factual circumstances as at 30 April 2025.

| Various elements of the Group's accounting policies, by their nature, are inherently subject to estimation techniques, valuation assumptions and other assessments. In particular, the Group has identified the following accounting policies which, due to the judgements, estimates and assumptions inherent in those policies, and the sensitivity of the financial statements to those judgements, estimates and assumptions, are critical to an understanding of the financial statements.

| Valuation of debtors

| Valuation of debtors is based upon ongoing assessments of the probable estimated losses inherent in the trade and other debtors portfolio. Assessments are conducted by the board employing a methodology and guidelines, which are continually monitored and improved. The primary component of this methodology comprises specific allowances and collective allowances.

| A debtor is subject to impairment test when valid indications exist, at the assessment date, which demonstrate that the customer will not be able to meet his obligations and/or when the flow of receipts decelerates over time. Usually such indications include failure of communication with the customers and indications of significant financial difficulty.

| Amounts individually provided for concern claims evaluated individually for impairment based upon management's best estimate of the present value of the cash flows which are expected to be received.

| In assessing the need for collective allowance, management considers debtors in arrears over 121 days but excludes those for which there are valid indications that they will be collected.

| The accuracy of provisions depends on the accuracy of future cash flows for specific allowances and the model assumptions and parameters used in determining collective allowances. While this necessarily involves judgement, management believes that their provisions are reasonable and supportable.

| Assets impairment

| The Group reviews on an annual basis the carrying amounts of investments, tangible assets and intangible assets, in order to determine if there is an indication of impairment. If any such indication exists an impairment review is carried out in order to determine the extent of the impairment loss.

| Useful lives of depreciable tangible and intangible assets

| The management assesses the estimated useful lives and related depreciation & amortisation charges for purchased and internally generated intangible assets and tangible assets and reviews the assessment at regular intervals. Management estimates are based on the projected operating life cycle of these assets. Such estimates are not expected to change significantly, however, management may modify depreciation and amortisation rates wherever useful lives turn out to be different than previously estimated and writes down or writes off assets.

| Turnover

| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised when services are rendered to the customers.

| Rental income is recognised evenly over the period of the rental.

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

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

| or, if held under a finance lease, over the lease term, whichever is the shorter.

| Short leasehold |  | : Over the life of the lease |  |

| Plant and machinery |  | : 20% - 33% on reducing balance |  |

| Motor vehicles |  | : 20% on reducing balance |  |

| The company has adopted a policy not to depreciate the asset in the year of acquisition, however full depreciation will be provided in the year of disposal.

| Investments in associates

| Investments in associate undertakings are recognised at cost.

| Taxation

| Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated 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 statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Pension costs and other post-retirement benefits

| The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

2. | ACCOUNTING POLICIES - continued

| Dividends

| Final dividends distributions to the company's shareholders are recognised as a liability in the financial statements in the period in which the dividends are approved by the company's shareholders, while interim dividend distributions are recognised in the period in which the dividends are declared and paid.

| New or revised standards or interpretations

| Amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and other FRSs Periodic Review 2024.

| On 27 March 2024, the FRC issued Amendments to FRS 102. The effective date for most amendments is

| accounting periods beginning on or after 1 January 2026, with earlier adoption permitted. The Amendments include new disclosures for supplier finance arrangements that are mandatorily effective from 1 January 2025.

| The most significant amendments are the replacement of Section 23, now renamed Revenue from Contracts with Customers, and Section 20 Leases. The many other less significant changes, including a new Section 2A Fair Value Measurement, are not currently expected to have a material impact. The new revenue and leasing requirements seek to provide greater consistency and alignment to the international accounting standards, i.e. IFRS 15 and IFRS 16.

| The Company is planning for the implementation of these change and is at an early stage in evaluating their

| financial impact. Under the new lease accounting requirements management expects that these amounts would be recognised on-balance sheet, with a lease liability based on the discounted value of the future commitments, plus payments related to optional extension periods if considered reasonably certain, and a related ‘right-of-use’ asset.

| Management is reviewing existing revenue contracts to determine the overall recognition, measurement,

| presentation and disclosure impact.

| Financial instruments

| Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

| Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

2. | ACCOUNTING POLICIES - continued

| 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 are not amortised.

| Other financial assets

| 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.

| Impairment of financial assets

| Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

| If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

| Derecognition of financial assets

| 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.

| Classification of financial liabilities

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered. 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.

3. | REVENUE

| The revenue and profit before taxation are attributable to the one principal activity of the group.

| An analysis of revenue by class of business is given below:

| Period |

| 1.11.23 |

| to | Year Ended

| 30.4.25 |  | 31.10.23

£ | £ |

| Rental Income | 40,299,506 |  | 23,273,693 |  |

40,299,506 |  | 23,273,693 |  |

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

3. | REVENUE - continued

| An analysis of revenue by geographical market is given below:

| Period |

| 1.11.23 |

| to | Year Ended

| 30.4.25 |  | 31.10.23

£ | £ |

| United Kingdom | 40,299,506 |  | 23,273,693 |  |

40,299,506 |  | 23,273,693 |  |

4. | EMPLOYEES AND DIRECTORS

| Period |

| 1.11.23 |

| to | Year Ended

| 30.4.25 |  | 31.10.23

£ | £ |

| Wages and salaries | 3,038,585 |  | 1,343,283 |  |

| Social security costs | 314,186 |  | 171,560 |  |

| Other pension costs | 43,859 |  | 23,635 |  |

3,396,630 |  | 1,538,478 |  |

| The average number of employees during the period was as follows:

| Period |

| 1.11.23 |

| to | Year Ended

| 30.4.25 |  | 31.10.23

| Management and finance | 7 |  | 7 |  |

| Property managers and administration | 69 |  | 61 |  |

76 |  | 68 |  |

| The average number of employees by undertakings that were proportionately consolidated during the period was 76 (2023 - 68 ) .

5. | DIRECTORS' EMOLUMENTS

| Period |

| 1.11.23 |

| to | Year Ended

| 30.4.25 |  | 31.10.23

£ | £ |

| Director's remuneration | 25,920 |  | 17,280 |  |

6. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

| Period |

| 1.11.23 |

| to | Year Ended

| 30.4.25 |  | 31.10.23

£ | £ |

| Other operating leases | 401,801 |  | 192,738 |  |

| Depreciation - owned assets | 258,216 |  | 142,369 |  |

| Depreciation - assets on finance leases | 5,758 |  | 4,798 |  |

| Loss/(profit) on disposal of fixed assets | 5,140 |  | (9,663 | ) |

| Auditors' remuneration | 29,545 |  | 21,500 |  |

| Formation costs | 250 |  | - |  |

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

7. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| Period |

| 1.11.23 |

| to | Year Ended

| 30.4.25 |  | 31.10.23

£ | £ |

| Bank interest | 9,213 |  | 6,972 |  |

| Interest payable | - |  | 1,343 |  |

| Hire purchase | 3,183 |  | 473 |  |

12,396 |  | 8,788 |  |

8. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the period was as follows:

| Period |

| 1.11.23 |

| to | Year Ended

| 30.4.25 |  | 31.10.23

£ | £ |

| Current tax:

| UK corporation tax | 192,043 |  | 116,740 |  |

| Deferred tax | (11,082 | ) | 84,223 |  |

| Tax on profit | 180,961 |  | 200,963 |  |

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the period is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| Period |

| 1.11.23 |

| to | Year Ended

| 30.4.25 |  | 31.10.23

£ | £ |

| Profit before tax | 789,770 |  | 700,308 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2023 - 25 %) | 197,443 |  | 175,077 |  |

| Effects of:

| Expenses not deductible for tax purposes | 13,758 |  | 4,102 |  |

| Income not taxable for tax purposes | - |  | 2,416 |  |

| Capital allowances in excess of depreciation | (5,747 | ) | (47,240 | ) |

| Movements in deferred tax | (11,082 | ) | 84,223 |  |

| Other tax adjustments | (13,411 | ) | (17,615 | ) |

| Total tax charge | 180,961 |  | 200,963 |  |

9. | INDIVIDUAL INCOME STATEMENT

| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

10. | DIVIDENDS

| Period |

| 1.11.23 |

| to | Year Ended

| 30.4.25 |  | 31.10.23

£ | £ |

| Ordinary B shares of £0.1 each

| Interim | 203,994 |  | 135,996 |  |

11. | PROPERTY, PLANT AND EQUIPMENT

| Group

| Short |  | Plant and |  | Motor |

| leasehold |  | machinery |  | vehicles |  | Totals

£ | £ | £ | £ |

| COST

| At 1 November 2023 | 56,465 |  | 1,293,899 |  | 314,614 |  | 1,664,978 |  |

| Additions | - |  | 266,768 |  | 46,668 |  | 313,436 |  |

| Disposals | - |  | - |  | (15,800 | ) | (15,800 | ) |

| At 30 April 2025 | 56,465 |  | 1,560,667 |  | 345,482 |  | 1,962,614 |  |

| DEPRECIATION

| At 1 November 2023 | 52,675 |  | 576,213 |  | 194,230 |  | 823,118 |  |

| Charge for period | 3,790 |  | 227,860 |  | 32,324 |  | 263,974 |  |

| Eliminated on disposal | - |  | - |  | (3,160 | ) | (3,160 | ) |

| At 30 April 2025 | 56,465 |  | 804,073 |  | 223,394 |  | 1,083,932 |  |

| NET BOOK VALUE

| At 30 April 2025 | - |  | 756,594 |  | 122,088 |  | 878,682 |  |

| At 31 October 2023 | 3,790 |  | 717,686 |  | 120,384 |  | 841,860 |  |

| Fixed assets, included in the above, which are held under finance leases are as follows:

| Motor

| vehicles

£ |

| COST

| At 1 November 2023

| and 30 April 2025 | 81,105 |  |

| DEPRECIATION

| At 1 November 2023 | 61,910 |  |

| Charge for period | 5,758 |  |

| At 30 April 2025 | 67,668 |  |

| NET BOOK VALUE

| At 30 April 2025 | 13,437 |  |

| At 31 October 2023 | 19,195 |  |

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

11. | PROPERTY, PLANT AND EQUIPMENT - continued

| Company

| Short |  | Plant and |  | Motor |

| leasehold |  | machinery |  | vehicles |  | Totals

£ | £ | £ | £ |

| COST

| At 1 November 2023 | 56,465 |  | 962,530 |  | 125,369 |  | 1,144,364 |  |

| Additions | - |  | 190,765 |  | - |  | 190,765 |  |

| At 30 April 2025 | 56,465 |  | 1,153,295 |  | 125,369 |  | 1,335,129 |  |

| DEPRECIATION

| At 1 November 2023 | 52,675 |  | 412,189 |  | 125,369 |  | 590,233 |  |

| Charge for period | 3,790 |  | 165,104 |  | - |  | 168,894 |  |

| At 30 April 2025 | 56,465 |  | 577,293 |  | 125,369 |  | 759,127 |  |

| NET BOOK VALUE

| At 30 April 2025 | - |  | 576,002 |  | - |  | 576,002 |  |

| At 31 October 2023 | 3,790 |  | 550,341 |  | - |  | 554,131 |  |

| Fixed assets, included in the above, which are held under finance leases are as follows:

| Motor

| vehicles

£ |

| COST

| At 1 November 2023

| and 30 April 2025 | 27,035 |  |

| DEPRECIATION

| At 1 November 2023

| and 30 April 2025 | 27,035 |  |

| NET BOOK VALUE

| At 30 April 2025 | - |  |

| At 31 October 2023 | - |  |

12. | FIXED ASSET INVESTMENTS

| Group

| Interest

| in

| associate

£ |

| COST

| At 1 November 2023

| and 30 April 2025 | 185 |  |

| NET BOOK VALUE

| At 30 April 2025 | 185 |  |

| At 31 October 2023 | 185 |  |

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

12. | FIXED ASSET INVESTMENTS - continued

| Company

| Shares in |  | Interest |

| group |  | in |

| undertakings |  | associate |  | Totals

£ | £ | £ |

| COST

| At 1 November 2023 | 100 |  | 185 |  | 285 |  |

| Additions | 975 |  | - |  | 975 |  |

| At 30 April 2025 | 1,075 |  | 185 |  | 1,260 |  |

| NET BOOK VALUE

| At 30 April 2025 | 1,075 |  | 185 |  | 1,260 |  |

| At 31 October 2023 | 100 |  | 185 |  | 285 |  |

| The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

| Subsidiaries:

| Caridon Management Limited

| Registered office: Wrencote House, 123 Croydon High Street, Croydon, Surrey, England, CR0 0XJ

| Nature of business: Property management

| % |  |

| Class of shares: |  | holding |  |

| Ordinary |  | 100.00 |  |

|  | 2025 |  | 2023 |  |

| £ |  | £ |  |

| Aggregate capital and reserves |  |  | 167,928 |  | 312,973 |  |

| (Loss)/Profit for the year |  |  | (145,045 | ) | (183,434 | ) |

|  | ---------------- |  | --------------- |  |

| Caridon Estates Limited

| Registered office: 1 Kings Avenue, London, N21 3NA

| Nature of business: Letting and operating of own or leased real estate

| % |  |

| holding |  |

| 97.5% |  |

| 2025 |  |

| £ |  |

| Aggregate capital and reserves |  |  | (40,634 | ) |

| (Loss)/Profit for the year |  |  | (41,634 | ) |

| ------------- |  |

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

| Group |  | Company |

2025 | 2023 | 2025 | 2023 |

£ | £ | £ | £ |

| Trade debtors | 1,914,320 |  | 1,617,239 |  | 1,601,837 |  | 1,331,198 |  |

| Amounts owed by group undertakings | - |  | - |  | 704,478 |  | 491,973 |  |

| Other debtors | 2,065,507 |  | 1,651,199 |  | 1,830,651 |  | 1,318,398 |  |

| VAT | 36,166 |  | 12,779 |  | - |  | - |  |

| Prepayments and accrued income | 749,424 |  | 375,895 |  | 639,750 |  | 272,937 |  |

4,765,417 |  | 3,657,112 |  | 4,776,716 |  | 3,414,506 |  |

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

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

| Group |  | Company |

2025 | 2023 | 2025 | 2023 |

£ | £ | £ | £ |

| Bank loans and overdrafts (see note 16) | 10,000 |  | 10,000 |  | 10,000 |  | 10,000 |  |

| Finance leases (see note 17) | 7,016 |  | 38,206 |  | - |  | 15,836 |  |

| Trade creditors | 1,218,761 |  | 1,087,303 |  | 1,119,931 |  | 966,753 |  |

| Tax | 268,441 |  | 230,305 |  | 268,342 |  | 191,586 |  |

| Social security and other taxes | 75,563 |  | 47,869 |  | 74,685 |  | 46,112 |  |

| Other creditors | 929,877 |  | 1,127,395 |  | 920,027 |  | 1,125,596 |  |

| Accruals and deferred income | 129,892 |  | 501,472 |  | 129,892 |  | 501,472 |  |

| Accrued expenses | 981,667 |  | 670,437 |  | 936,652 |  | 645,548 |  |

3,621,217 |  | 3,712,987 |  | 3,459,529 |  | 3,502,903 |  |

15. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| Group |  | Company |

2025 | 2023 | 2025 | 2023 |

£ | £ | £ | £ |

| Bank loans (see note 16) | 833 |  | 15,833 |  | 833 |  | 15,833 |  |

| Finance leases (see note 17) | 19,437 |  | - |  | - |  | - |  |

20,270 |  | 15,833 |  | 833 |  | 15,833 |  |

16. | LOANS

| An analysis of the maturity of loans is given below:

| Group |  | Company |

2025 | 2023 | 2025 | 2023 |

£ | £ | £ | £ |

| Amounts falling due within one year or on | demand: |

| Bank loans | 10,000 |  | 10,000 |  | 10,000 |  | 10,000 |  |

| Amounts falling due between two and five | years: |

| Bank loans - 2-5 years | 833 |  | 15,833 |  | 833 |  | 15,833 |  |

17. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Finance leases |

2025 | 2023 |

£ | £ |

| Net obligations repayable:

| Within one year | 7,016 |  | 38,206 |  |

| Between one and five years | 19,437 |  | - |  |

26,453 |  | 38,206 |  |

| Company

| Finance leases |

2025 | 2023 |

£ | £ |

| Net obligations repayable:

| Within one year | - |  | 15,836 |  |

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

17. | LEASING AGREEMENTS - continued

| Amounts owed under hire purchase agreements are secured over assets acquired under such agreements.

18. | PROVISIONS FOR LIABILITIES

| Group |  | Company |

2025 | 2023 | 2025 | 2023 |

£ | £ | £ | £ |

| Deferred tax | 180,029 |  | 191,111 |  | 143,178 |  | 137,000 |  |

| Group

| Deferred |

| tax |

£ |

| Balance at 1 November 2023 | 191,111 |  |

| Credited to income statement | (11,082 | ) |

| Balance at 30 April 2025 | 180,029 |  |

| Company

| Deferred |

| tax |

£ |

| Balance at 1 November 2023 | 137,000 |  |

| Charged to income statement | 6,178 |  |

| Balance at 30 April 2025 | 143,178 |  |

19. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2023 |

| value: | £ | £ |

| 6,000 | Ordinary | £0.01 | 60 |  | 60 |  |

| 1,000 | Ordinary B | £0.1 | 100 |  | 100 |  |

| 4,000 | Ordinary D | £0.01 | 40 |  | 40 |  |

200 |  | 200 |  |

20. | RESERVES

| Group

| Capital |

| Retained |  | redemption |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 November 2023 | 2,253,628 |  | 5 |  | 2,253,633 |  |

| Profit for the period | 609,844 |  | 609,844 |  |

| Dividends | (203,994 | ) | (203,994 | ) |

| At 30 April 2025 | 2,659,478 |  | 5 |  | 2,659,483 |  |

CARIDON PROPERTY LIMITED (REGISTERED NUMBER: 06883096) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 NOVEMBER 2023 TO 30 APRIL 2025

20. | RESERVES - continued

| Company

| Capital |

| Retained |  | redemption |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 November 2023 | 1,942,556 |  | 5 |  | 1,942,561 |  |

| Profit for the period | 795,239 |  | 795,239 |  |

| Dividends | (203,994 | ) | (203,994 | ) |

| At 30 April 2025 | 2,533,801 |  | 5 |  | 2,533,806 |  |

21. | OTHER FINANCIAL COMMITMENTS

| As at 30 April 2025, the company had total commitments of £402,000 under non-cancellable operating leases falling due within next twelve months.

22. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

| Included in other debtors, due within one year, is an amount totalling £1,977,052 (2023: £1,472,633) owed from entities under common control. These loans are provided interest free and repayable on demand

| Included in other creditors, due within one year, is an amount totalling £130,563 (2023: £30,562) owed to entities under common control. These loans are received interest free and repayable on demand.

23. | POST BALANCE SHEET EVENTS

| No significant events have occurred between the reporting date, 30 April 2025, and the date the financial statements were authorised for issue that would require adjustment to or disclosure in the financial statements.

24. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is Mr. M J Carrozzo.