REGISTERED NUMBER: 06781096 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

KRNS PROPERTIES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S Suri

Miss R Suri

Mr S Suri

REGISTERED OFFICE:

Sital House

3-6 Cattle Market

Loughborough

Leicestershire

LE11 3DL

REGISTERED NUMBER:

06781096 (England and Wales)

ACCOUNTANTS:

Magma Audit LLP

Unit 2 Charnwood Edge Business Park

Syston Road, Leicester

LE7 4UZ

Magma Audit LLP is part

Of the Dains Group

FIXED ASSETS

Tangible assets

4

16,479

19,549

Investment property

5

28,855,996

30,300,997

28,872,475

30,320,546

CURRENT ASSETS

Debtors

6

3,109,830

3,030,777

Cash at bank

1,520,844

1,356,561

4,630,674

4,387,338

CREDITORS

Amounts falling due within one year

7

(4,154,799

)

(15,494,530

)

NET CURRENT ASSETS/(LIABILITIES)

475,875

(11,107,192

)

TOTAL ASSETS LESS CURRENT LIABILITIES

29,348,350

19,213,354

CREDITORS

Amounts falling due after more than one year

8

(11,335,060

)

(922,568

)

PROVISIONS FOR LIABILITIES

(519,000

)

(848,000

)

NET ASSETS

17,494,290

17,442,786

CAPITAL AND RESERVES

Called up share capital

20

20

Share premium

14,985

14,985

Fair value reserve

5,019,179

6,464,179

Retained earnings

12,460,106

10,963,602

17,494,290

17,442,786

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2026 and were signed on its behalf by:

Mr S Suri - Director

1.	STATUTORY INFORMATION

KRNS Properties Ltd is a private limited company, limited by shares, incorporated in England and Wales. It's registered office address is Sital House, 3 - 6 Cattle Market, Loughbrough, LE11 3DL and it's registered number is 06781096.

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.

The presentation currency of the financial statements is pound sterling (£) and figures are rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis. In assessing this, the directors prepare annual forecasts to ensure that the company has sufficient facilities in place to meet its liabilities as they fall due. Annual reviews are conducted with the company’s lender to proactively discuss any loan facilities maturing within the next year. This ensures sufficient time to arrange new or replacement financing, enabling a seamless transition and avoiding disruptions.

Turnover

Turnover represents amounts receivable net of VAT. Rent receivable is invoiced quarterly in advance and appropriate accounting timing adjustments are made to defer the income as necessary. Car parking income is recognised on a daily basis.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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

Office equipment

10% on cost

Fixtures, fittings & equipment

10% on cost

Motor vehicles

25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss .

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Financial instruments

(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate.

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.

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.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Pension costs and other post-retirement benefits

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

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Office

fittings

Motor

equipment

& equipment

vehicles

Totals

£

£

£

£

COST

At 1 January 2025

19,929

183,268

6,729

209,926

Additions

3,423

-

-

3,423

At 31 December 2025

23,352

183,268

6,729

213,349

DEPRECIATION

At 1 January 2025

13,328

176,257

792

190,377

Charge for year

1,045

3,865

1,583

6,493

At 31 December 2025

14,373

180,122

2,375

196,870

NET BOOK VALUE

At 31 December 2025

8,979

3,146

4,354

16,479

At 31 December 2024

6,601

7,011

5,937

19,549

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

30,300,998

Revaluations

(1,445,000

)

At 31 December 2025

28,855,998

DEPRECIATION

At 1 January 2025

1

Charge for year

1

At 31 December 2025

2

NET BOOK VALUE

At 31 December 2025

28,855,996

At 31 December 2024

30,300,997

The investment properties were valued by BNP Paribas Real Estate on 13 January 2025. The directors are satisfied that these valuations remain representative of the fair values of the properties at 31 December 2025.

On a historical cost basis these would have been included at an original cost of £23,836,819 (2024 - £23,836,819).

Investment properties with a carrying amount of £28,855,996 (2024 - £30,300,997) have been pledged to secure borrowings of the company. The company is not allowed to pledge these assets as security for other borrowings or to sell them to another entity.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

314,282

187,984

Amounts owed by associates

2,631,231

2,598,031

Other debtors

164,317

244,762

3,109,830

3,030,777

The amounts owed by associates represent amounts receivable from companies controlled by the Suri family.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

340,138

11,234,396

Trade creditors

72,522

92,806

Amounts owed to associates

1,232,157

1,841,312

Taxation and social security

402,431

423,550

Other creditors

2,107,551

1,902,466

4,154,799

15,494,530

The amounts owed to associates represent amounts payable to companies controlled by the Suri family.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

10,544,287

-

Other creditors

790,773

922,568

11,335,060

922,568

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

8,647,220

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

10,884,425

11,234,396

The bank loan with Handelsbanken is secured by legal charges over the company's investment properties and an unlimited guarantee provided by 3 R Construction & Property Development Limited, a company with common directors. During the period ending 31st December 2025, the company refinanced its existing bank loan by securing a new loan facility with a term of six years. This refinancing has strengthened the company’s liquidity position and extended the maturity profile of its debt obligations.