Andelain Holdings Ltd

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—5

1. General Information

Andelain Holdings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 15778161 . The registered office is c/o Riverfort Capital Ltd, 162 Buckingham Palace Road, London, SW1W 9TR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Significant judgements and estimations

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

In preparing these financial statements the directors have made the following judgements:

- Determined whether there are indicators of impairment of the company's tangible assets and investment properties. Factors taken into consideration in reaching such a decision include the financial viability and expected future financial performance of the asset.

- Determined that the accounting policies in place in respect of turnover recognition and measurement are reasonable.

2.3. Turnover

Revenue is measured at the fair value of the consideration received or receivable and comprises of rental income from investment properties. Fair value reflects the amount expected to be recoverable from tenants.

2.4. Investment Properties

Investment property is measured initially at cost, including transaction costs. Subsequent to initial recognition, investment property is measured at fair value at each reporting date, with changes in fair value recognised in profit or loss.

No depreciation is provided in respect of investment property.

2.5. 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 statement of financial position 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.

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 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, 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.

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Andelain Holdings Ltd

Notes to the Financial Statements (continued)

For the Period 14 June 2024 to 31 October 2025

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the period was: NIL

4. Investment Property

	31 October 2025
	£
Fair Value
As at 14 June 2024	-
Additions	1,334,652

As at 31 October 2025	1,334,652

Investment properties comprise of freehold residential property held for rental purposes.

The fair value at 31 October 2025 is not considered to be materially different to the historical cost of the property totalling £1,334,652. This has been determined by the director, having regard to market evidence of recent transactions for similar properties and other relevant factors. No independent valuation was obtained.

5. Creditors: Amounts Falling Due Within One Year

	31 October 2025
	£
Other loans	609,930
Other creditors	8,413

	618,343

Other loans related to cash received from Riverfort Capital Limited, a company of which Mr B J Kinane is the sole director and shareholder, in the period totalling £609,930. These loans are provided on an interest free basis and are repayable on demand.

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Andelain Holdings Ltd

Notes to the Financial Statements (continued)

For the Period 14 June 2024 to 31 October 2025

6. Creditors: Amounts Falling Due After More Than One Year

	31 October 2025
	£
Bank loans	737,000

7. Share Capital

	31 October 2025
	£
Allotted, Called up and fully paid	100

8. Ultimate Controlling Party

The company is under the control of Mr B J Kinane by virtue of his ownership of 100% of the issued share capital.

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		31 October 2025
	Notes	£	£
FIXED ASSETS
Investment Properties	4		1,334,652

			1,334,652
CURRENT ASSETS
Cash at bank and in hand		15,349

		15,349
Creditors: Amounts Falling Due Within One Year	5	(618,343 )

NET CURRENT ASSETS (LIABILITIES)			(602,994 )

TOTAL ASSETS LESS CURRENT LIABILITIES			731,658

Creditors: Amounts Falling Due After More Than One Year	6		(737,000 )

NET LIABILITIES			(5,342 )

CAPITAL AND RESERVES
Called up share capital	7		100
Income Statement			(5,442 )

SHAREHOLDERS' FUNDS			(5,342)