The directors present their annual report and financial statements for the year ended 31 March 2025.

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

The directors who held office during the year were as follows:

The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business.

The Company's operations have not been subject to the risk of interest fluctuations.

Financial Instruments which potentially subject the company to concentrations of credit risk consist only of cash and trade debtors.

Trade debtors are monitored on a ongoing basis and provision is made for doubtful debts where necessary.

Gallagher Properties Ltd continues to manage the investment properties and deals with all financial and ongoing operational matters on behalf of Gallagher Holdings (Kent) Limited.

In the prior period, the directors agreed a contract with IWG Plc to provide some managed, serviced office space under their 'Regus' brand for the first floor at Horizon House. Fit-out works are underway, with investment being made during the financial year ended 31 March 2026. The space will be available during the year ended 31 March 2026 and it is considered a good strategic move to explore this area of the market.

Most market analysis forecasts the service office sector as a sector for growth, and we believe this opportunity provides a soft entry into that market space where we can learn lessons and understand the mechanics of this model before taking any decisions about expanding it throughout our wider portfolio.

There are no other significant lease events in the next 12 months and given the covenant strength of our current tenants the risk of tenant business failure is considered to be low.

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 these financial statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;

• make judgements and accounting estimates that are reasonable and prudent; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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 also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption, except for the additional information included under financial instruments and future developments.

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

Gallagher Holdings (Kent) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Leitrim House, Little Preston, Coldharbour Lane, Aylesford, Maidstone, Kent, ME20 7NS.

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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Rental income is recognised in the period to which the lease relates.

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.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

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.

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.

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.

Management regularly review the current market value, rental market and rental yields of the Investment property.

The company has had no employees in the current year or the previous year.

At the year end the Investment properties amounted to £24,760,000. Sibley Pares carried out an external valuation on the properties in March 2023. Sibley Pares is not connected to the company. The directors have valued the properties at March 2025 and, based on their knowledge of the local property market, believe that there has been no material movement in the value of the investment property.

No depreciation is provided in respect of these properties.

The amounts owed by companies under common control and related parties (included in other debtors) are interest free, with no security and no fixed repayment terms.

The amounts owed to subsidiary undertaking and related parties (included in other creditors) are interest free, with no security and no fixed repayment terms.

Included within profit and loss reserves are non-distributable profits, as set out below:

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 March 2025 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.

The company owns 5 investment properties for rental purposes. Rental income earned during the year was £1,178,946. The properties are expected to generate average yields of 6-7 per cent on an ongoing basis. All of the properties have committed tenants between 1 - 10 years. All operating lease contracts contain market review clauses in the event that the lessee exercises its option to renew. The lessee does not have an option to purchase the property at the expiry of the lease period.

The following amounts were outstanding at the reporting end date:

The ultimate parent company of Gallagher Holdings (Kent) Limited is Gallagher Investments (Kent) Limited.Their registered office is Leitrim House, Little Preston, Aylesford, Kent ME20 7NS.