REGISTERED NUMBER: 10557424 (England and Wales)

Penn Property Ltd

Unaudited Financial Statements

for the Year Ended 31 January 2026

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

Mr A P Newall

Mr A P Newall

REGISTERED OFFICE:

Delta 606 Welton Road

Delta Office Park

Swindon

Wiltshire

SN5 7XF

REGISTERED NUMBER:

10557424 (England and Wales)

ACCOUNTANTS:

AMS Accountancy Limited

Delta 606

Welton Road

Delta Office Park

Swindon

Wiltshire

SN5 7XF

FIXED ASSETS

Tangible assets

4

2,196

2,371

Investments

5

-

386

Investment property

6

3,859,687

4,463,437

3,861,883

4,466,194

CURRENT ASSETS

Debtors

7

25,639

1,036,729

Cash at bank

14,095

-

39,734

1,036,729

CREDITORS

Amounts falling due within one year

8

(1,578,404

)

(1,768,714

)

NET CURRENT LIABILITIES

(1,538,670

)

(731,985

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,323,213

3,734,209

CREDITORS

Amounts falling due after more than one year

9

(2,110,769

)

(2,352,767

)

NET ASSETS

212,444

1,381,442

CAPITAL AND RESERVES

Called up share capital

12

20

20

Retained earnings

13

212,424

1,381,422

SHAREHOLDERS' FUNDS

212,444

1,381,442

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2026 and were signed on its behalf by:

Mr A P Newall - Director

Mr A P Newall - Director

1.	STATUTORY INFORMATION

Penn Property Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 February 2025

50,352

2,349

52,701

Additions

949

-

949

At 31 January 2026

51,301

2,349

53,650

DEPRECIATION

At 1 February 2025

47,983

2,347

50,330

Charge for year

1,124

-

1,124

At 31 January 2026

49,107

2,347

51,454

NET BOOK VALUE

At 31 January 2026

2,194

2

2,196

At 31 January 2025

2,369

2

2,371

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 February 2025

386

Impairments

(386

)

At 31 January 2026

-

NET BOOK VALUE

At 31 January 2026

-

At 31 January 2025

386

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2025

4,463,437

Disposals

(603,750

)

At 31 January 2026

3,859,687

NET BOOK VALUE

At 31 January 2026

3,859,687

At 31 January 2025

4,463,437

Fair value at 31 January 2026 is represented by:

£

Valuation in 2018

615,374

Valuation in 2019

98,985

Valuation in 2021

121,039

Valuation in 2022

757,000

Valuation in 2023

202,500

Valuation in 2026

(289,993

)

Cost

2,354,782

3,859,687

If investment property had not been revalued it would have been included at the following historical cost:

2026

2025

£

£

Cost

2,354,782

2,668,539

Investment properties were valued on an open market basis on 31 January 2026 by the directors .

7.

DEBTORS

2026

2025

£

£

Amounts falling due within one year:

Other debtors

25,639

185,314

Amounts falling due after more than one year:

Amounts owed by group undertakings

-

851,415

Aggregate amounts

25,639

1,036,729

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

-

9,536

Trade creditors

-

2,574

Taxation and social security

2,426

1,800

Other creditors

1,575,978

1,754,804

1,578,404

1,768,714

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Other creditors

2,110,769

2,352,767

2026

2025

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

2,110,769

2,352,767

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2026

2025

£

£

Within one year

-

6,221

11.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Other loans

2,110,769

2,352,767

'Other loans' at 31st January 2026 comprises balances that are secured by mortgages over the freehold investment properties.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

20

Ordinary

£1

20

20

13.

RESERVES

Included within retained earnings is £1,504,905 (2025: £1,794,898) which is undistributable. This amount represents the difference between the fair value at the reporting date and the cost at initial recognition of the investment property, after taking into account any relevant deferred tax liability. Undistributable reserves exceeded total reserves by £1,291,142 (2025:£413,476).

14.	RELATED PARTY DISCLOSURES

An interest free loan has been made to another company of which Mr A (Patrick) Newall is a director. At 31st January 2026 the loan value was £283,513 (2025: £283,513)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Penn Property Ltd for the year ended 31 January 2026 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Penn Property Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Penn Property Ltd and state those matters that we have agreed to state to the Board of Directors of Penn Property Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Penn Property Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Penn Property Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Penn Property Ltd. You consider that Penn Property Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Penn Property Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

AMS Accountancy Limited

Delta 606

Welton Road

Delta Office Park

Swindon

Wiltshire

SN5 7XF

30 October 2026