Contents of the Financial Statements

for the Period Ended 31 December 2021

Directors' report period ended 31 December 2021

The directors present their report with the financial statements of the company for the period ended 31 December 2021

Directors

The directors shown below have held office during the whole of the period from
26 May 2021 to 31 December 2021

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
8 September 2022

And signed on behalf of the board by:
Name: Ian Christopher Jason Ford
Status: Director

Profit And Loss Account

for the Period Ended 31 December 2021

Balance sheet

As at 31 December 2021

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 December 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 December 2021

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Other accounting policies

  Investment propertyInvestment property is property held either to earn rental income or for capital appreciation or both, but not for sale in the ordinary course of business, use in the production or supply of goods or services or for administrative purposes.Investment property is measured at cost, including transaction costs, on initial recognition and subsequently at fair value with any change therein recognized in profit or loss.Cost includes expenditure that is directly attributable to the acquisition of the investment property. Fair value is determined at each statement of financial position date. In addition, the investment property is valued by independent professional valuers at least once a year.Subsequent expenditure relating to investment property that has already been recognized is added to the carrying amount of the asset when it is probable that future economic benefits, in excess of originally assessed standard of performance of the existing asset, will flow to the Company. All other subsequent expenditure is recognized as an expense in the period in which it is incurred.Investment property is derecognized when either it has been disposed of or when no future economic benefit is expected from its disposal. Any gains or losses on the disposal are recognized in the profit or loss account.Property acquisition costsAcquisition costs are treated as part of the costs of the property and have therefore been taken into account when calculating any gain or loss arising on the revaluation of property.Trade and other receivablesTrade receivables are initially recognized at transaction price. Trade receivables include VAT receivable. A provision against trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the debtor. Cash and cash equivalentsCash and cash equivalents are carried at cost and consist of cash in hand and short term deposits in banks with an original maturity of three months or less.Trade payablesTrade payables includes accounts payable for professional services received by the Company.Foreign currency translationThe Company maintains its accounts in GBP. Transactions expressed in currencies other than GBP are translated into £ at the exchange rate effective at the time of the transaction.Share capital and share premiumCapital transactions are recorded as equity.ExpensesExpenses are recognized on an accruals basis as soon as there is a legal or constructive obligation committing the Company to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.TaxationCurrent tax is recognized for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using tax rates and laws that have been enacted or subsequently enacted by the reporting date.Carrying amount of debt and allocation of loan issue costsDebt instruments, such as bank loans, are stated at their net proceeds (i.e., after deduction of loan issue costs) on issue. Issue costs are amortized to the Income Statement over the life of the instrument and are included in interest payable and similar charges.Cash flow statement The Company has taken advantage of the exemption under FRS 102 from preparing a Statement of Cash Flow, on the basis that is a small entity.Significant judgements and estimatesPreparation of the financial statements requires managements to make significant judgements and estimates.The directors have made key assumptions in the determination of the fair value of the investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.Fair value of investment propertiesThe fair value of investment properties is determined by external valuation reports. These reports are performed annually by external valuers, currently performed by CBRE GmbH, CBRE Valuation S.p.A., CBRE Valuation & Advisory Services B.V., CBRE Valuation Advisory S.A., CBRE Ltd and CBRE Valuation France (“CBRE”) using the following valuation techniques:(i) Current prices in an active market for properties of a similar nature, condition or location (or subject to different lease or other contracts), adjusted to reflect those differences;(ii) Recent prices of similar properties in less active markets, with adjustments to reflect any changes in economic conditions since the date of the transactions that occurred at those prices;(iii) Discounted cash flow projections based on reliable estimates of future cash flows; and(iv) Residual value of development properties based on the expected value of the completed development lessthe total cost of development.The principal assumptions underlying the Company’s estimation of fair value are those related to: the receipt of contractual rentals, expected future market rentals, void periods, construction costs and appropriate discount rates.These valuations are regularly compared to actual market yield data and actual transactions of the Company and those reported by the market. The expected future market rentals are determined on the basis of current market rentals for similar properties in the same location and condition.

Notes to the Financial Statements

for the Period Ended 31 December 2021

• 2. Employees

  	7 months to 31 December 2021
  Average number of employees during the period	0