Company No: 11727330 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	4	43,818		40,248
Investment property	5	26,265,000		31,220,000
		26,308,818		31,260,248
Current assets
Debtors	6	1,309,509		228,902
Cash at bank and in hand		360,931		317,938
		1,670,440		546,840
Creditors: amounts falling due within one year	7	( 166,967)		( 138,695)
Net current assets		1,503,473		408,145
Total assets less current liabilities		27,812,291		31,668,393
Creditors: amounts falling due after more than one year	8	( 11,683,406)		( 10,412,200)
Net assets		16,128,885		21,256,193
Capital and reserves
Called-up share capital	9	21,862,000		21,862,000
Undistributable reserve		( 5,280,000 )		( 325,000 )
Profit and loss account		( 453,115 )		( 280,807 )
Total shareholders' funds		16,128,885		21,256,193

For the financial year ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Devi Properties Limited (registered number: 11727330) were approved and authorised for issue by the Board of Directors on 07 July 2026. They were signed on its behalf by:

K Clare Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Devi Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 4th Floor 86-90 Paul Street, London, England, EC2A 4NE, United Kingdom.

The financial statements have been prepared in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Devi Properties Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for rental income, and is shown net of discounts.

Rental income from investment properties is recognised in profit and loss on a straight-line basis over the lease term.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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 is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

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.

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

Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities if the fair value of investment properties. Please see note 5 for more details.

3. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		4

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 April 2025	78,244		78,244
Additions	13,266		13,266
At 31 March 2026	91,510		91,510
Accumulated depreciation
At 01 April 2025	37,996		37,996
Charge for the financial year	9,696		9,696
At 31 March 2026	47,692		47,692
Net book value
At 31 March 2026	43,818		43,818
At 31 March 2025	40,248		40,248

5. Investment property

	Investment property
	£
Valuation
As at 01 April 2025	31,220,000
Fair value movement	(4,955,000)
As at 31 March 2026	26,265,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors on 31st March 2026. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6. Debtors

	2026		2025
	£		£
Amounts owed by connected companies	1,009,840		119,036
Other debtors	299,669		109,866
	1,309,509		228,902

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	38,802		7,085
Other taxation and social security	0		1,302
Other creditors	128,165		130,308
	166,967		138,695

8. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Bank loans (secured)	11,683,406		10,412,200

The bank loans are secured by fixed charges over the company's investment properties.

9. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
10,931 A ordinary shares of £ 1,000.00 each	10,931,000		10,931,000
10,931 B ordinary shares of £ 1,000.00 each	10,931,000		10,931,000
	21,862,000		21,862,000

10. Related party transactions

The Company has entered into transactions with an entity which is under common control. At the balance sheet date, the following balances were outstanding in respect of amounts owed by a company under common control 2026: £1,009,840 (2025: £119,036). These balances are unsecured, interest-free, and repayable on demand.

11. Financial restructuring

During the financial period, the companies favourable interest loan expired, and the company was required to refinance the portfolio with several lenders in order to get the most competitive rates. Some of these costs are included within the financial expenses reported.