Company No: 15244323 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	12,062		7,192
Investment property	4	11,874,166		11,843,438
		11,886,228		11,850,630
Current assets
Debtors	5	167,127		6,032
Cash at bank and in hand		781,644		0
		948,771		6,032
Creditors: amounts falling due within one year	6	( 12,432,069)		( 11,849,621)
Net current liabilities		(11,483,298)		(11,843,589)
Total assets less current liabilities		402,930		7,041
Net assets		402,930		7,041
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		402,830		6,941
Total shareholders' funds		402,930		7,041

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 members have 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 Statement of Comprehensive Income has not been delivered.

The financial statements of Basel Assets Limited (registered number: 15244323) were approved and authorised for issue by the Director on 22 September 2026. They were signed on its behalf by:

B Basel 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 period, unless otherwise stated.

General information and basis of accounting

Basel Assets 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 2 Leman Street, London, E1W 9US, 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

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial accounts.

Turnover

Turnover represents rental income.

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.

5 years straight line

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.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

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 at the reporting end date. Changes in fair value are recognised in profit or loss.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	2		1

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2025	7,440		7,440
Additions	7,947		7,947
At 31 December 2025	15,387		15,387
Accumulated depreciation
At 01 January 2025	248		248
Charge for the financial year	3,077		3,077
At 31 December 2025	3,325		3,325
Net book value
At 31 December 2025	12,062		12,062
At 31 December 2024	7,192		7,192

4. Investment property

	Investment property
	£
Valuation
As at 01 January 2025	11,843,438
Additions	30,728
As at 31 December 2025	11,874,166

The property was acquired on 13 February 2024 and is included in the financial statements at cost. In the directors’ opinion, this represents the market value of the property as at 31 December 2025, by reference to market evidence of transaction prices for similar properties in its location, together with a review of property rental yields. No depreciation is provided in respect of this property.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2025		2024
	£		£
Historic cost	11,874,166		11,843,438

5. Debtors

	2025		2024
	£		£
Trade debtors	75,383		0
Other debtors	91,744		6,032
	167,127		6,032

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	52,708		0
Other taxation and social security	75,864		0
Other creditors	12,303,497		11,849,621
	12,432,069		11,849,621

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
60 A Ordinary shares of £ 1.00 each	60		60
40 B Ordinary shares of £ 1.00 each	40		40
	100		100