IRIS Accounts Production v25.1.3.33 08955956 Board of Directors 1.10.23 30.9.24 30.9.24 Medium entities true true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary A 0.01000 Ordinary B 0.01000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh089559562023-09-30089559562024-09-30089559562023-10-012024-09-30089559562022-09-30089559562022-10-012023-09-30089559562023-09-3008955956ns15:EnglandWales2023-10-012024-09-3008955956ns14:PoundSterling2023-10-012024-09-3008955956ns10:Director12023-10-012024-09-3008955956ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3008955956ns10:MediumEntities2023-10-012024-09-3008955956ns10:Audited2023-10-012024-09-3008955956ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-10-012024-09-3008955956ns10:Medium-sizedCompaniesRegimeForAccounts2023-10-012024-09-3008955956ns10:FullAccounts2023-10-012024-09-3008955956ns10:OrdinaryShareClass12023-10-012024-09-3008955956ns10:OrdinaryShareClass22023-10-012024-09-3008955956ns10:Director22023-10-012024-09-3008955956ns10:RegisteredOffice2023-10-012024-09-3008955956ns5:CurrentFinancialInstruments2024-09-3008955956ns5:CurrentFinancialInstruments2023-09-3008955956ns5:ShareCapital2024-09-3008955956ns5:ShareCapital2023-09-3008955956ns5:CapitalRedemptionReserve2024-09-3008955956ns5:CapitalRedemptionReserve2023-09-3008955956ns5:RetainedEarningsAccumulatedLosses2024-09-3008955956ns5:RetainedEarningsAccumulatedLosses2023-09-3008955956ns5:ShareCapital2022-09-3008955956ns5:RetainedEarningsAccumulatedLosses2022-09-3008955956ns5:CapitalRedemptionReserve2022-09-3008955956ns5:RetainedEarningsAccumulatedLosses2022-10-012023-09-3008955956ns5:CapitalRedemptionReserve2022-10-012023-09-3008955956ns5:RetainedEarningsAccumulatedLosses2023-10-012024-09-3008955956ns5:CapitalRedemptionReserve2023-10-012024-09-3008955956ns10:OrdinaryShareClass12022-10-012023-09-3008955956ns10:OrdinaryShareClass22022-10-012023-09-3008955956ns5:CostValuation2023-09-3008955956ns5:Subsidiary12023-10-012024-09-30089559561ns5:Subsidiary12023-10-012024-09-3008955956ns5:Subsidiary12024-09-3008955956ns5:Subsidiary12023-09-3008955956ns5:Subsidiary12022-10-012023-09-3008955956ns5:Subsidiary22023-10-012024-09-3008955956ns5:Subsidiary232023-10-012024-09-3008955956ns5:Subsidiary22024-09-3008955956ns5:Subsidiary22023-09-3008955956ns5:Subsidiary22022-10-012023-09-3008955956ns5:Subsidiary32023-10-012024-09-30089559565ns5:Subsidiary32023-10-012024-09-3008955956ns5:Subsidiary32024-09-3008955956ns5:Subsidiary32023-09-3008955956ns5:Subsidiary32022-10-012023-09-3008955956ns5:Subsidiary42023-10-012024-09-30089559567ns5:Subsidiary42023-10-012024-09-3008955956ns5:Subsidiary42024-09-3008955956ns5:Subsidiary42023-09-3008955956ns5:Subsidiary42022-10-012023-09-3008955956ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3008955956ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3008955956ns5:Non-currentFinancialInstruments2024-09-3008955956ns5:Non-currentFinancialInstruments2023-09-3008955956ns10:OrdinaryShareClass12024-09-3008955956ns10:OrdinaryShareClass22024-09-3008955956ns5:RetainedEarningsAccumulatedLosses2023-09-3008955956ns5:CapitalRedemptionReserve2023-09-30
REGISTERED NUMBER: 08955956 (England and Wales)








Strategic Report,

Report of the Directors and

Audited Financial Statements

for the Year Ended

30 September 2024

for

Upward Enterprises Limited

Upward Enterprises Limited (Registered number: 08955956)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


Upward Enterprises Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: N C Drury
S M Griffiths





REGISTERED OFFICE: Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT





REGISTERED NUMBER: 08955956 (England and Wales)





AUDITORS: Nicklin Audit Limited
Chartered Accountants
Statutory Auditors
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Upward Enterprises Limited (Registered number: 08955956)

Strategic Report
for the Year Ended 30 September 2024

The directors present their strategic report for the year ended 30 September 2024.

ON BEHALF OF THE BOARD:





N C Drury - Director


30 May 2025

Upward Enterprises Limited (Registered number: 08955956)

Report of the Directors
for the Year Ended 30 September 2024

The directors present their report with the financial statements of the company for the year ended 30 September 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of a non trading holding company.

DIVIDENDS
Interim dividends per share were paid during the year as follows:
Ordinary A 1p - £90.63032 - 30 September 2024
Ordinary B 1p - £98.15151 - 30 September 2024

The total distribution of dividends for the year ended 30 September 2024 will be £ 664,356 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

N C Drury
S M Griffiths

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors 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;
-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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





N C Drury - Director


30 May 2025

Report of the Independent Auditors to the Members of
Upward Enterprises Limited

Opinion
We have audited the financial statements of Upward Enterprises Limited (the 'company') for the year ended 30 September 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 September 2024 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.

Basis for opinion
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 UK, including the FRC'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
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.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Upward Enterprises Limited


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 Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where 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 Statement of Directors' Responsibilities set out on page three, 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 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess risks of material misstatement of the financial statements, whether due to fraud and error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry, control environment and business performance;
- results of our enquiries of management about their own identification and assessment of the risks of irregularities;
- any matters we have identified having reviewed the company's procedures for complying with laws and regulations and whether they were aware of any instances of non-compliance. The key laws and regulations we considered in this context included the Companies Act 2006.

Our audit procedures in relation to fraud included but were not limited to:

- reviewing balance sheet control accounts to ensure properly reconciled;
- addressing the risks of fraud through management override of controls by performing journal entry testing;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- enquiring with management concerning actual and potential litigation claims.

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 Report of the Auditors.

Report of the Independent Auditors to the Members of
Upward Enterprises Limited


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 a Report of the Auditors 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.




Mark Howell FCA (Senior Statutory Auditor)
for and on behalf of Nicklin Audit Limited
Chartered Accountants
Statutory Auditors
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

30 May 2025

Upward Enterprises Limited (Registered number: 08955956)

Income Statement
for the Year Ended 30 September 2024

2024 2023
Notes £    £   

TURNOVER - -

Administrative expenses 23,298 32,620
OPERATING LOSS 4 (23,298 ) (32,620 )

Income from shares in group undertakings 2,032,000 2,209,777
PROFIT BEFORE TAXATION 2,008,702 2,177,157

Tax on profit 5 - -
PROFIT FOR THE FINANCIAL YEAR 2,008,702 2,177,157

Upward Enterprises Limited (Registered number: 08955956)

Other Comprehensive Income
for the Year Ended 30 September 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 2,008,702 2,177,157


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

2,008,702

2,177,157

Upward Enterprises Limited (Registered number: 08955956)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investments 7 3,674,687 3,674,687

CURRENT ASSETS
Debtors 8 10,156,234 9,591,526
Cash at bank 3,046 127,129
10,159,280 9,718,655
CREDITORS
Amounts falling due within one year 9 1,482,356 2,386,077
NET CURRENT ASSETS 8,676,924 7,332,578
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,351,611

11,007,265

CAPITAL AND RESERVES
Called up share capital 10 71 71
Capital redemption reserve 11 28 28
Retained earnings 11 12,351,512 11,007,166
SHAREHOLDERS' FUNDS 12,351,611 11,007,265

The financial statements were approved by the Board of Directors and authorised for issue on 30 May 2025 and were signed on its behalf by:





N C Drury - Director


Upward Enterprises Limited (Registered number: 08955956)

Statement of Changes in Equity
for the Year Ended 30 September 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 October 2022 71 9,494,365 28 9,494,464

Changes in equity
Dividends - (664,356 ) - (664,356 )
Total comprehensive income - 2,177,157 - 2,177,157
Balance at 30 September 2023 71 11,007,166 28 11,007,265

Changes in equity
Dividends - (664,356 ) - (664,356 )
Total comprehensive income - 2,008,702 - 2,008,702
Balance at 30 September 2024 71 12,351,512 28 12,351,611

Upward Enterprises Limited (Registered number: 08955956)

Cash Flow Statement
for the Year Ended 30 September 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (1,491,727 ) (1,950,994 )
Net cash from operating activities (1,491,727 ) (1,950,994 )

Cash flows from investing activities
Purchase of fixed asset investments - (2 )
Dividends received 2,032,000 2,209,777
Net cash from investing activities 2,032,000 2,209,775

Cash flows from financing activities
Equity dividends paid (664,356 ) (664,356 )
Net cash from financing activities (664,356 ) (664,356 )

Decrease in cash and cash equivalents (124,083 ) (405,575 )
Cash and cash equivalents at beginning
of year

2

127,129

532,704

Cash and cash equivalents at end of
year

2

3,046

127,129

Upward Enterprises Limited (Registered number: 08955956)

Notes to the Cash Flow Statement
for the Year Ended 30 September 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 2,008,702 2,177,157
Finance income (2,032,000 ) (2,209,777 )
(23,298 ) (32,620 )
Increase in trade and other debtors (564,708 ) (937,091 )
Decrease in trade and other creditors (903,721 ) (981,283 )
Cash generated from operations (1,491,727 ) (1,950,994 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 September 2024
30.9.24 1.10.23
£    £   
Cash and cash equivalents 3,046 127,129
Year ended 30 September 2023
30.9.23 1.10.22
£    £   
Cash and cash equivalents 127,129 532,704


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.10.23 Cash flow At 30.9.24
£    £    £   
Net cash
Cash at bank 127,129 (124,083 ) 3,046
127,129 (124,083 ) 3,046
Total 127,129 (124,083 ) 3,046

Upward Enterprises Limited (Registered number: 08955956)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Upward Enterprises Limited 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Upward Enterprises Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 30 September 2024 nor for the year ended 30 September 2023.

The average number of employees during the year was as follows:
2024 2023

Management 2 2

2024 2023
£    £   
Directors' remuneration - -

Upward Enterprises Limited (Registered number: 08955956)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. OPERATING LOSS

The operating loss is stated after charging:

2024 2023
£    £   
Auditors' remuneration 3,900 3,810

5. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 30 September 2024 nor for the year ended 30 September 2023.

6. DIVIDENDS
2024 2023
£    £   
Ordinary A shares of 1p each
Interim 421,431 421,431
Ordinary B shares of 1p each
Interim 242,925 242,925
664,356 664,356

7. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 30 September 2024 3,674,687
NET BOOK VALUE
At 30 September 2024 3,674,687
At 30 September 2023 3,674,687

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Upward Care Limited
Registered office: Bloxwich Hall, Elmore Court, Elmore Green Road, Bloxwich, West Midlands WS3 2QW
Nature of business: Provision of care services
%
Class of shares: holding
A, B & C Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 1,094,167 1,064,756
Profit for the year 1,661,411 1,559,524

Upward Enterprises Limited (Registered number: 08955956)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. FIXED ASSET INVESTMENTS - continued

Upward (Property Estates) Limited
Registered office: Bloxwich Hall, Elmore Court, Elmore Green Road, Bloxwich, West Midlands WS3 2QW
Nature of business: Property investment
%
Class of shares: holding
A,B,C & D Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 5,974,304 4,984,000
Profit for the year 1,390,304 660,947

Upward Retail Limited
Registered office: Church Court, Stourbridge Road, Halesowen, West Midlands B63 3TT
Nature of business: Property rental
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 278 1
Profit for the year 130,277 99,031

Upward Developments (West Midlands) Ltd
Registered office: Bloxwich Hall, Elmore Court, Elmore Green Road, Bloxwich, West Midlands WS3 2QW
Nature of business: Property developer
%
Class of shares: holding
A Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (74,093 ) (99,116 )
Profit/(loss) for the year 25,023 (99,118 )

8. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 24,000 24,000
Other debtors 9,708 -
33,708 24,000

Amounts falling due after more than one year:
Amounts owed by group undertakings 10,122,526 9,567,526

Aggregate amounts 10,156,234 9,591,526

Upward Enterprises Limited (Registered number: 08955956)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 175 82
Amounts owed to group undertakings 457,745 494,745
Amounts owed to related parties 2 2
Other creditors 1,020,534 1,887,528
Accrued expenses 3,900 3,720
1,482,356 2,386,077

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4,650 Ordinary A 1p 46 46
2,475 Ordinary B 1p 25 25
71 71

The A Ordinary shares are entitled to one vote each in any circumstances. The B Ordinary shares are entitled to 1.878787879 votes each in any circumstances.

11. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 October 2023 11,007,166 28 11,007,194
Profit for the year 2,008,702 2,008,702
Dividends (664,356 ) (664,356 )
At 30 September 2024 12,351,512 28 12,351,540

12. RELATED PARTY DISCLOSURES

Midland Properties Limited
A company under the control of a director

At the year end the company was owed £9,708 (2023 owed to- £1,134,092) from Midland Properties Limited.

Sivic Investments Limited
A company under the control of a director

At the year end the company owed £364,388 (2023 - £308,005) to Sivic Investments Limited.

N&C Enterprises Limited
A company under the control of a director

At the year end the company owed £632,146 (2023 - £421,431) to N&C Enterprises Limited.