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

Tintern Propco Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wild Hare Hotel, Tintern, Chepstow, United Kingdom, NP16 6SF.

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, modified to include the revaluation investment properties at fair value. The principal accounting policies adopted are set out below.

A connected beneficiary has offered financial support to the company, for a period of at least 12 months from the date of approval of these financial statements, should it be required to meet liabilities as they fall due. Therefore, at the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.true

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.

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 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 and loans from fellow group companies 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 costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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 have had the most significant effect on amounts recognised in the financial statements.

The directors have applied significant judgement in determining the fair value of one of the investment properties at 31 December 2024.

During the year the company purchased a pub from a fellow group company. At 31 December 2024 the pub was undergoing extensive refurbishment. In July 2025 when the refurbishment was complete, the directors engaged a third party Chartered Surveyor to conduct a valuation of the pub to determine the fair value in accordance with FRS 102 section 16. The completed pub has been valued at £3,500,000.

The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

To determine the fair value of the pub at 31 December 2024, the directors have utilised the final valuation report in conjunction with the stage of completion at year end. Stage of completion was assessed with reference to third party reports. Based on this the directors determine the fair value of the pub to be £1,743,588. A fair value loss of £767,485 has been recognised in administrative expenses.

The company did not have any employees either in the current year or the prior year.

Pub

Please see note 2 for information on the fair value of the pub.

Hotel

The fair value of the hotel has been arrived at on the basis of a valuation carried out by a Chartered Surveyor, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

The entity has drawn down £5,231,830 (2023: £2,121,830) from a loan facility made available by its parent company. The drawdown is repayable on demand and has an applicable rate of interest of 2%.

During the year, the company purchased fixed assets consisting of freehold land & buildings and fixtures & fittings with a combined net book value of £3,593,636 from a fellow group company for net consideration of £800,063.

The immediate parent company is Chaotic Good Capital AG, a company registered in Liechtenstein. The ultimate parent entity is Claymore Investment Trust, an entity registered in Liechtenstein.

The parent entity does not prepare accounts or consolidated accounts that are available in the public domain.

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 December 2024 and of its loss 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.