Company No: 11486298 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Current assets
Stocks	4	31,552,372		26,410,728
Debtors
- due within one year	5	327,375		631,587
- due after more than one year	5	1,136,628		847,348
Cash at bank and in hand		( 73,060)		54,729
		32,943,315		27,944,392
Creditors: amounts falling due within one year	6	( 771,662)		( 33,769,525)
Net current assets/(liabilities)		32,171,653		(5,825,133)
Total assets less current liabilities		32,171,653		(5,825,133)
Creditors: amounts falling due after more than one year	7	( 40,206,666)		0
Net liabilities		( 8,035,013)		( 5,825,133)
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		( 8,035,113 )		( 5,825,233 )
Total shareholder's deficit		( 8,035,013)		( 5,825,133)

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges 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 PRMO Properties UK Limited (registered number: 11486298) were approved and authorised for issue by the Director on 18 September 2026. They were signed on its behalf by:

I Prashkovsky 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

PRMO Properties UK 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 Elscot House, Arcadia Avenue, London, N3 2JU, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons:

The company meets its day to day working capital requirements from operational cashflows, related party loans and intercompany balances with the group headed by PRMO Holdings UK Ltd.

PRMO Holdings UK Ltd and its shareholders have indicated their intention to continue to make available such funds as are needed by the company, and that they do not intend to seek repayment of the amounts currently due, during the going concern assessment period. As with any company placing reliance on other entities for financial support, the director acknowledges that there can be no certainty that this support will continue. However, at the date of approval of these financial statements, they have no reason to believe that it will not do so.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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 basis over its expected useful life, as follows:

Computer equipment

4 years straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

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.

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 receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	0		0

3. Tangible assets

	Computer equipment		Total
	£		£
Cost
At 01 January 2025	3,270		3,270
At 31 December 2025	3,270		3,270
Accumulated depreciation
At 01 January 2025	3,270		3,270
At 31 December 2025	3,270		3,270
Net book value
At 31 December 2025	0		0
At 31 December 2024	0		0

4. Stocks

	2025		2024
	£		£
Work in progress (secured)	31,552,372		26,410,728

Stocks consist of real estate property in the United Kingdom owned by the company. The property is being developed with a view to sale. The property was previously held as Investment Property, and was transferred to stock in the financial year ending 31 December 2023, upon the commencement of the development. The property was transferred at its fair value of £15,125,000 at the date of change in use.

5. Debtors

	2025		2024
	£		£
Debtors: amounts falling due within one year
Amounts owed by Group undertakings	33,447		29,800
Prepayments	17,286		12,527
VAT recoverable	276,642		589,260
	327,375		631,587
Debtors: amounts falling due after more than one year
Deferred tax asset	1,136,628		847,348

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans (secured)	0		12,980,733
Trade creditors	241,085		588,070
Amounts owed to Group undertakings	245,141		171,458
Amounts owed to related parties	0		19,479,055
Amounts owed to director	32,250		0
Accruals	253,186		550,209
	771,662		33,769,525

Bank loans are secured by a first charge over the investment property, held as stock, of the company.

The facility was due to be repaid on March 15, 2025, this was extended to April 8, 2025 to allow time for the loan to be refinanced. The Company has provisionally agreed to refinance the facility with Bank Hapoalim, with a revised repayment date of June 30, 2026 with an option for a further 12 months.

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

	2025		2024
	£		£
Bank loans (secured)	17,375,165		0
Amounts owed to related parties	22,831,501		0
	40,206,666		0

Bank loans are secured by a first charge over the investment property, held as stock, of the company.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

9. Related party transactions

Transactions with owners holding a participating interest in the entity

At the year end the company owed Arie Prashkovsky Group Ltd, a 37.5% group company, £6,190,155 (2024: £5,400,236). Interest is charged at 6.5% per annum. The loan and interest repayment dates are December 31, 2027.

At the year end the company owed Massad Oz Investments Ltd, a 12.5% group company, £2,214,546 (2024: £1,906,602). Interest is charged at 6.5% per annum. The loan and interest repayment dates are December 31, 2027.

At the year end the company owed Caesarea Medical Electronics Holding (2000) Ltd, a 50% shareholder, £14,426,802 (2024: £12,172,217). Interest is charged at 6.5% per annum. The loan and interest repayment dates are December 31, 2027.

During the year management services were provided to the company by UK OK Limited of £nil (2024: £36,333). Mr I Prashkovsky, who served as a director during the year, is also a director of UK OK Limited.