Company registration number 13010191 (England and Wales)
GEMONA PROPERTIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
PAGES FOR FILING WITH REGISTRAR
GEMONA PROPERTIES LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 6
GEMONA PROPERTIES LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GEMONA PROPERTIES LTD FOR THE YEAR ENDED 30 NOVEMBER 2025
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gemona Properties Ltd for the year ended 30 November 2025 set out on pages 2 to 6 from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the b oard of d irectors of Gemona Properties Ltd, as a body, in accordance with the terms of the engagement letter dated 24 September 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Gemona Properties Ltd and state those matters that we have agreed to state to the b oard of d irectors of Gemona Properties Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gemona Properties Ltd and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that Gemona Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Gemona Properties Ltd. You consider that Gemona Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Gemona Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory f inancial statements.

Gerald Edelman LLP
Accountants
73 Cornhill
London
EC3V 3QQ
26 August 2026
GEMONA PROPERTIES LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2025
30 November 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
4
12,457,062
12,410,104
Current assets
Debtors
5
449,883
590,055
Cash at bank and in hand
196,727
213,536
646,610
803,591
Creditors: amounts falling due within one year
6
(13,515,942)
(13,331,758)
Net current liabilities
(12,869,332)
(12,528,167)
Net liabilities
(412,270)
(118,063)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(412,271)
(118,064)
Total equity
(412,270)
(118,063)

For the financial year ended 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 26 August 2026
Mr. D Hare
Director
Company registration number 13010191 (England and Wales)
GEMONA PROPERTIES LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 3 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 December 2023
1
234,766
234,767
Year ended 30 November 2024:
Loss and total comprehensive income
-
(352,830)
(352,830)
Balance at 30 November 2024
1
(118,064)
(118,063)
Year ended 30 November 2025:
Loss and total comprehensive income
-
(294,207)
(294,207)
Balance at 30 November 2025
1
(412,271)
(412,270)
GEMONA PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 4 -
1
Accounting policies
Company information

Gemona Properties Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 73 Cornhill, London, United Kingdom, EC3V 3QQ.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Revenue

Turnover represents rental income receivable in the ordinary course of business, exclusive of Value Added Tax. Rental income is recognised on a straight-line basis over the term of the relevant lease.

Lease incentives provided to tenants are recognised as a reduction to rental income on a straight-line basis over the lease term.

1.3
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 a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

GEMONA PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 5 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

GEMONA PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
0
0
4
Investment property
2025
£
Fair value
At 1 December 2024
12,410,104
Additions
46,958
At 30 November 2025
12,457,062

The d irector does not consider the market value to be materially different to the cost reflected in these accounts.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
449,883
590,055
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
11,990
28,006
Amounts owed to group undertakings
13,500,752
13,300,752
Other creditors
3,200
3,000
13,515,942
13,331,758
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