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Registered number: .322
MISTY MEADOWS UK LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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MISTY MEADOWS UK LTD
COMPANY INFORMATION
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Chartered Accountants & Statutory Auditor
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MISTY MEADOWS UK LTD
CONTENTS
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Independent auditors' report
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Statement of Profit or Loss and Other Comprehensive Income
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Statement of financial position
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Statement of changes in equity
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Notes to the financial statements
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MISTY MEADOWS UK LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The Directors present their report and the financial statements for the year ended 31 March 2026.
Directors' responsibilities statement
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The Directors are responsible for preparing the Directors' Report and the financial statements, in accordance with applicable law.
Company law requires the Directors to prepare financial statements for each financial year. Under that law they have elected to prepare the financial statements in accordance with UK-adopted international accounting standards in conformity with the requirements of the Companies Act 2006.
Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing the financial statements, the Directors are required to:
∙select suitable accounting policies and then apply them consistently;
∙make judgements and estimates that are reasonable and prudent;
∙state whether they have been prepared in accordance with IFRS Accounting Standards in conformity with the requirements of the Companies Act 2006, subject to any material departures disclosed and explained in the financial statements;
∙assess the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and
∙use the going concern basis of accounting unless they either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the Company and to prevent and detect fraud and other irregularities.
The Directors who served during the year were :
Disclosure of information to auditors
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Each of the persons who are Directors at the time when this Directors' Report is approved has confirmed that:
∙so far as the Director is aware, there is no relevant audit information of which the Company's auditors are unaware, and
∙the Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.
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MISTY MEADOWS UK LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Small companies' exemption note
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In preparing this report, the Directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
Aamir Husain Rizvi
Director
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MISTY MEADOWS UK LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MISTY MEADOWS UK LTD
We have audited the financial statements of Misty Meadows UK Ltd for the year ended 31 March 2026 which comprise the Statement of Profit or Loss and Other Comprehensive Income, the Statement of Financial Position, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of material accounting policies set out on pages 12. The financial reporting framework that has been applied in their preparation is applicable law and UK-adopted international accounting standards in conformity with the requirements of the Companies Act 2006.
In our opinion the financial statements:
∙give a true and fair view of the state of the Company's affairs as at 31 March 2026 and of its loss for the year then ended;
∙have been properly prepared in accordance with UK-adopted international accounting standards in conformity with the requirements of the Companies Act 2006; and
∙have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
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In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report, other than the financial statements and our auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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MISTY MEADOWS UK LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MISTY MEADOWS UK LTD (CONTINUED)
Opinion on other matters prescribed by the Companies Act 2006
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In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Directors' Report have been prepared in accordance with applicable legal requirements.
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MISTY MEADOWS UK LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MISTY MEADOWS UK LTD (CONTINUED)
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
∙the financial statements are not in agreement with the accounting records and returns; or
∙certain disclosures of Directors' remuneration specified by law are not made; or
∙we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the Directors' responsibilities statement on page 1, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant including:
∙Companies Act 2006
∙IFRS
∙UK Tax Legislation
We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
We understood how the Company is complying with those legal and regulatory frameworks by, making inquiries to management and those responsible for legal and compliance procedures.
The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any issues in this area.
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MISTY MEADOWS UK LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MISTY MEADOWS UK LTD (CONTINUED)
We assessed the susceptibility of the company’s financial statements to material misstatement, including how fraud might occur. We considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:
∙Posting of unusual journals; and
∙Misstatement of the fair value of the investment property.
As a result of the above, audit procedures performed by the engagement team included:
∙Identifying and assessing the design effectiveness of measures management has in place to prevent and detect fraud;
∙Understanding how those charged with governance considered and addressed the potential for override of controls or
other inappropriate influence over the financial reporting process;
∙Challenging assumptions and judgments made by management in its significant accounting estimates; and
∙Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations and
keywords that are high risk.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.
Use of our report
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
Robin Hopkins FCA (Senior statutory auditor)
for and on behalf of
Menzies LLP
Chartered Accountants
Statutory Auditor
4th Floor
95 Gresham Street
London
EC2V 7AB
2 October 2026
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MISTY MEADOWS UK LTD
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2026
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Total comprehensive income
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The notes on pages 11 to 21 form part of these financial statements.
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MISTY MEADOWS UK LTD
REGISTERED NUMBER: 11996943
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2026
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Trade and other receivables
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Trade and other receivables
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Cash and cash equivalents
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Trade and other liabilities
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Issued capital and reserves
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The financial statements on pages 7 to 21 were approved and authorised for issue by the board of Directors and were signed on its behalf by:
The notes on pages 11 to 21 form part of these financial statements.
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MISTY MEADOWS UK LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
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Comprehensive income for the year
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Total comprehensive income for the year
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Total contributions by and distributions to owners
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Comprehensive income for the year
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Total comprehensive income for the year
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Contributions by and distributions to owners
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The notes on pages 11 to 21 form part of these financial statements.
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MISTY MEADOWS UK LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2026
Cash flows from operating activities
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Change in value of investment property
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Movements in working capital:
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Decrease in trade and other receivables
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Decrease in trade and other payables
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Decrease in group creditors
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Cash generated from operations
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Net cash used in operating activities
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Cash flows from investing activities
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Cash flows from investing activities
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Net cash from investing activities
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Cash flows from financing activities
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Proceeds from share application
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Net cash from financing activities
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Net decrease in cash and cash equivalents
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Cash and cash equivalents at the beginning of year
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Cash and cash equivalents at the end of the year
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The notes on pages 11 to 21 form part of these financial statements.
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MISTY MEADOWS UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Misty Meadows UK Ltd (the 'Company') is a limited company incorporated in England and Wales. The Company's registered office is at One Fleet Place, London, EC4M 7WS.
The Company's principal activity is that of holding investment property.
The financial statements have been prepared in accordance with International Financial Reporting Standards, International Accounting Standards and Interpretations (collectively IFRSs).
Details of the Company's accounting policies, including changes during the period, are included in note 3.
In preparing these financial statements, management has made judgements, estimates and assumptions that affect the application of the Company accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.
The areas where judgements and estimates have been made in preparing the financial statements and their effects are disclosed in note 4.
The financial statements are presented in Sterling, which is the functional currency of the Company.
2.1 Basis of measurement
The financial statements have been prepared on the historic cost basis unless otherwise stated.
2.2 New standards, interpretations and amendments not yet effective
The following new standards, interpretations and amendments, which are not yet effective and have not been adopted early in these financial statements, will or may have an effect on the Company's future financial statements:
∙IFRS 18 - Presentation and Disclosure in Financial Statements - 1 January 2027
∙IFRS 19 - Subsidiaries without Public Accountability: Disclosures - 1 January 2027
The directors anticipate that the adoption of other Standards and interpretations that are not yet effective in future periods will only have an impact on the presentation in the financial statements of the Company.
There has been no impact as a result of the new standards adopted during the year.
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MISTY MEADOWS UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
3.Significant accounting policies
The Company incurred a loss of £1,146,082 in its seventh period since incorporation and has retained losses of £13,126,880. The parent company has pledged to continue to support the business for at least 12 months from the date of approval of the accounts. As a result the Directors consider that the accounts should be prepared on a going concern basis.
Investment properties principally comprise of leasehold land and buildings held for long-term rental and capital appreciation that are not occupied by the company. Investment properties are initially recognised at cost, including transaction costs, and are subsequently remeasured annually at fair value. Movements in fair value are recognised directly to profit or loss.
Investment properties are derecognised when disposed of or when there is no future economic benefit expected.
Trade and other payables
Trade payables, other payables and obligations under normal credit terms that do not bear interest are initially recorded at fair value and measured subsequently at amortised cost calculated using the effective interest method.
Trade and other payables that are short term in nature are not discounted. The amounts are unsecured and usually paid within 12 months of recognition.
Fair value is measured using the assumptions that market participants would use when pricing the asset or liability, assuming they act in their economic best interests. For non-financial assets, the fair value measurement is based on its highest and best use. Valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, are used, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.
Assets and liabilities measured at fair value are classified into three levels, using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. Classifications are reviewed at each reporting date and transfers between levels are determined based on a reassessment of the lowest level of input that is significant to the fair value measurement.
For recurring and non-recurring fair value measurements, external valuers may be used when internal expertise is either not available or when the valuation is deemed to be significant. External valuers are selected based on market knowledge and reputation. Where there is a significant change in fair value of an asset or liability from one period to another, an analysis is undertaken, which includes a verification of the major inputs applied in the latest valuation and a comparison, where applicable, with external sources of data.
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MISTY MEADOWS UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Accounting estimates and judgements
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4.1 Estimates and assumptions
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Management bases its estimates and judgements on historical experience and on various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgements about the carrying value of assets and liabilities that are not readily available from other sources. Actual results may differ from these estimates under different assumptions and conditions.
Prepayments
Prepayments consist of a lifetime subscription and the life of the asset is estimated to be 20 years.
Fair value of investment property
The fair value of the investment property is determined by management. In assessing fair value, management has used the prior year’s external valuation as the basis and considered whether there have been any movements in the value of the property during the year, having regard to relevant market conditions and other factors affecting the property. The investment property is revalued to fair value at the year end date. See note 7.
Directors' and key management personnel remuneration was £NIL (2025: £NIL).
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MISTY MEADOWS UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Property, plant and equipment
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Accumulated depreciation and impairment
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MISTY MEADOWS UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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(i) Non-current assets at fair value
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(ii) Fair value measurement
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The investment properties were valued on 31/03/2026 (2025: 31/03/2025) using market approach carried out by management (2025: external independent qualified valuers) In determining the fair value, management used the prior year’s external valuation as the basis and considered movements in the value of the properties during the year, having regard to relevant market conditions and other factors affecting the properties.
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Fair value as at 31 March 2026
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Fair value as at 31 March 2025
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There were no changes to the valuation techniques of level 2 fair value measurements in the period. The fair value measurement is based on the above items highest and best use, which does not differ from their actual use.
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MISTY MEADOWS UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Trade and other receivables
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Prepayments and accrued income
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Total non-current trade and other receivables
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Receivables from related parties
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Total financial assets other than cash and cash equivalents classified as loans and receivables
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Prepayments and accrued income
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Total current trade and other receivables
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Payables to related parties
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Total financial liabilities, excluding loans and borrowings, classified as financial liabilities measured at amortised cost
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The carrying value of trade and other payables classified as financial liabilities measured at amortised cost approximates fair value.
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MISTY MEADOWS UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Related party transactions
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Parties are considered to be related if one party has the ability to control the other party or exercise significant influence over the other party in making financial and operating decisions. The Company enters into transactions with companies and entities that fall within the definition of a related party as contained in International Accounting
Standard (IAS) No. 24 Related Party Disclosures. Related parties comprise companies under common ownership
and/or common management and control, key management personnel, entities in which the shareholders have
controlling interest affiliates, and other related parties.
Details of transactions between the Company and its related parties are disclosed below.
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10.1 Amounts due to related parties
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Macedonia Estates UK Limited
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RM Business Enterprises Pte Ltd
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The balance of £169,404 due to RM Business Enterprises Pte Ltd represents share application money received pending allotment of shares, which is expected by 31 March 2027.
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10.2 Amounts due from related parties
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CapitalM Investments Pte Limited
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10.3 Other related party transactions
Key management personnel are the directors, Aamir Husain Rizvi and William Anton Smit, who received no remuneration during the year (2025: £Nil) (see note 5). There are no other related party transactions in the year.
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MISTY MEADOWS UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Ordinary shares of £1.00 each
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Ordinary shares entitle the holder to participate in dividends and the proceeds on the winding up of the company in proportion to the number of and amounts paid on the shares held. The company does not have a limited amount of authorised capital.
On show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote.
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Profit and loss account
The retained earnings reserve includes retained earnings and accumulated losses.
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Ultimate controlling party
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As at 31 March 2026, the ultimate holding company of the Company is RM Business Enterprises Pte. Ltd., a company incorporated in Singapore. The registered office of RM Business Enterprises Pte. Ltd. is 1 North Bridge Road, #07-07, High Street Centre, Singapore – 179094. In the opinion of the directors, there is no single party that ultimately controls RM Business Enterprises Lte Ltd.
The largest and smallest group in which the results of the Company are consolidated as at 31 March 2026 is RM Business Enterprises Pte. Ltd., a company incorporated in Singapore. The registered office of RM Business Enterprises Pte. Ltd. is 1 North Bridge Road, #07-07, High Street Centre, Singapore – 179094.
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MISTY MEADOWS UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Financial instruments - risk management
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14.1 Financial risk management objectives
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The Company’s board of directors has overall responsibility for the establishment and oversight of the Company’s risk management framework.
The Company’s risk management policies are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Company’s activities.
The Company's primary risk with financial instruments is liquidity risk as it is not generating any revenue, its borrowings are with group companies and do not have variable interest rates. In addition the majority of the transactions entered into are denominated in pounds, accordingly the company does not have any significant currency risk.
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