REGISTERED NUMBER: 10476321 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 November 2025

for

Propio Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

L M Jackson

REGISTERED OFFICE:

c/o Locke Williams Associates LLP

Studio 2

50-54 St Pauls Square

Birmingham

B3 1QS

REGISTERED NUMBER:

10476321 (England and Wales)

ACCOUNTANTS:

Locke Williams Associates LLP

Chartered Accountants

Studio 2

50-54 St Pauls Square

Birmingham

West Midlands

B3 1QS

FIXED ASSETS

Investment property

4

1,586,086

1,586,086

CURRENT ASSETS

Debtors

5

10,003

9,883

Cash at bank

107,965

64,794

117,968

74,677

CREDITORS

Amounts falling due within one year

6

1,334,561

1,337,327

NET CURRENT LIABILITIES

(1,216,593

)

(1,262,650

)

TOTAL ASSETS LESS CURRENT LIABILITIES

369,493

323,436

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

369,492

323,435

SHAREHOLDERS' FUNDS

369,493

323,436

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 August 2026 and were signed by:

L M Jackson - Director

1.	STATUTORY INFORMATION

Propio Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Critical accounting judgements and key sources of estimation uncertainty

In preparing the financial statements, the director is required to make estimates and assumptions which affect reported income, expenditure, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

The key estimations used in these financial statements include:

Investment property - The director has revalued the property to fair value at the year end. In doing so, they have considered the acquisition costs in the period and the current condition and occupation of the property at the year end date.

The director considers that there are no significant areas of key judgement or estimation uncertainty other than those identified in the accounting policies above.

Turnover

Turnover, being rents receivable, is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes and is recognised in accordance with the lease term.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

For the purposes of clarity, as this surplus or deficit is not realised, a transfer is made to a separate 'Fair Value revaluation reserve', net of any deferred tax provision arising on the surplus or deficit. This reserve does not form part of the company's distributable reserves.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2024

and 30 November 2025

1,586,086

NET BOOK VALUE

At 30 November 2025

1,586,086

At 30 November 2024

1,586,086

It is the opinion of the director that the fair value of the investment property, valued on an open market basis at 30 November 2024 is not materially changed from the valuation at 30 November 2023.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Trade debtors

8,100

8,010

Other debtors

1,903

1,873

10,003

9,883

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Trade creditors

7,109

6,792

Amounts owed to associates

54,290

54,290

Taxation and social security

19,913

19,307

Other creditors

1,253,249

1,256,938

1,334,561

1,337,327

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.25

30.11.24

value:

£

£

1

Ordinary

£1

1

1