These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Claremorris Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 77 Endell Street, London, United Kingdom, WC2H 9DZ.

The principal activity of the company is the management of investment property.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

The group is headed by Scott Brownrigg Group Limited, and the group largely operates as one business, sharing resources and financing. If any group company suffers short term resource or cash flow shortages, that demand is met by other group companies. true

The directors consider that the going concern basis for the preparation of the company's financial statements remains appropriate. In arriving at this conclusion, they have taken into consideration the group results for the year ended 31 January 2026, together with current results and cash flow forecasts for 12 months from the date of signing of the financial statements. Post year end the directors have been carefully monitoring cash flow and the cost base of the group, ensuring strict payment terms are adhered to and discretionary spend is contained to the budgets set at the beginning of the new financial year.

The revenue has been secured via medium term lease agreements, and no material deviations from the budget set for 2026 are expected.

Based on these forecasts and action plans the directors consider it is appropriate for the financial statements to be prepared on the going concern basis. The financial statements do not include any adjustments that would result in the going concern basis of preparation not to be appropriate. In the event that this basis is not appropriate provisions may be required and assets may need to be written down to recoverable amounts.

Turnover comprises rent receivable and other income arising from investment properties. Turnover is recognised at the fair value of the consideration received or receivable for rental income charged to tenants in the normal course of the business.

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.

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, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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 balance sheet 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, 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.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

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, 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. 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. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The 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 net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Estimates are made in respect of determining the carrying value of the investment property which is stated at fair value. In assessing fair value, the directors considered an independent valuation prepared by Colliers International Property Consultants Limited. The valuation was determined using an investment valuation methodology and incorporated assumptions relating to market rents, property yields, future void periods, refurbishment costs, reletting costs, the remaining leasehold term and the impact of the property's geared ground rent obligations. The property is held under a long leasehold interest with approximately 55 years remaining and is subject to a ground rent arrangement linked to market rents. Consequently, the valuation is particularly sensitive to assumptions regarding future rental values, refurbishment expenditure, investor yield expectations and the impact of the diminishing lease term. Changes in these assumptions could result in a material adjustment to the carrying value of the investment property in future reporting periods. The directors therefore consider the valuation of the investment property to be a key source of estimation uncertainty and judgement in the preparation of the financial statements.

The average monthly number of persons (including directors) employed by the company during the year was:

The directors are remunerated by the parent company, Scott Brownrigg Limited.

Investment property comprises the long leasehold interest in a commercial office building in Covent Garden, London.

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 19 May 2026 by Colliers International Property Consultants Limited, who are not connected with the company. The valuation was prepared using the investment method of valuation, having regard to the property's existing and estimated future rental income streams, leasehold tenure, remaining lease term, ground rent obligations and market evidence from comparable property transactions.

The historic cost of investment property was £2,248,267 (2025: £2,248,267).

The Company has pledged its investment property as security over loans of certain other group companies.

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 January 2026 and of its profit for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

The company is subject to a cross guarantee in respect of the bank loan of certain other group companies. The total amounts outstanding in respect of the loan at 31 January 2026 is £2,533,888 (2025: £3,099,310).

The company has taken advantage of the exemption available in section 33 of FRS 102 'Related Party Disclosures' and has not disclosed transactions entered into between two or more members of the group, provided that any subsidiary undertaking which is party to the transaction is wholly owned by a member of that group.

The company's immediate parent company is Scott Brownrigg Limited, a company incorporated in England and Wales.

The company's ultimate parent and controlling party is Scott Brownrigg EOT Trustee Limited, a company incorporated in England and Wales. Copies of the parent company's accounts can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.

Scott Brownrigg Group Limited is the smallest and largest group of undertakings for which consolidated accounts are prepared.

In the current year, the Company reassessed the fair value of its investment property following the receipt of an independent external valuation and a review of the assumptions underpinning the valuation adopted in the prior year financial statements. This review identified that the carrying value of the investment property at 31 January 2025 did not reflect its fair value in accordance with the Company's accounting policy and the requirements of FRS 102.

The correction of this error has resulted in a decrease in investment property of £4,500,000 and a corresponding decrease in the deferred tax liability of £1,125,000. Consequently, losses for the year ended 31 January 2025 increased by £3,375,000.

As at 31 January 2025, the prior period adjustment decreased investment property by £4,500,000, decreased deferred tax liabilities by £1,125,000 and decreased retained earnings by £3,375,000.

The corresponding impact on the comparative statement of profit and loss for the year ended 31 January 2025 was an increase in the loss for the year of £3,375,000, comprising a fair value loss on investment property of £4,500,000 and a deferred tax credit of £1,125,000.

There was no impact on the Company's cash flows.