R E Buildings Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

R E Buildings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02797885 . The registered office is Spout House Barn, Bay Horse, Lancaster, Lancashire, LA2 9DE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the entity.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains

accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold	2% straight line
Plant & Machinery	15% reducing balance
Motor Vehicles	20% reducing balance
Computer Equipment	20% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Page 3

Page 4

R E Buildings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.4. Leasing and Hire Purchase Contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

2.5. Stocks and Work in Progress

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

2.6. Financial Instruments

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 entity after deducting all of its financial liabilities.

2.7. Foreign Currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

2.8. Taxation

Deferred tax is provided for in full in respect of taxation deferred by timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. No provision has been made for taxation deferred on gains recognised on revaluing freehold property to it's market value as the company does not intend to sell the revalued assets.

2.9. Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation.

Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 29 (2023: 28)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£	£
Cost or Valuation
As at 1 January 2024	660,435	1,168,637	566,763	66,368	2,462,203
Additions	-	202,945	178,858	2,987	384,790
Disposals	(14,292 )	(362,867 )	(125,277 )	(66,368 )	(568,804 )
Revaluation	(158,676 )	-	-	-	(158,676 )

As at 31 December 2024	487,467	1,008,715	620,344	2,987	2,119,513

...CONTINUED

Page 4

Page 5

R E Buildings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Depreciation
As at 1 January 2024	281,190	613,305	220,744	58,227	1,173,466
Provided during the period	20,675	93,488	96,881	4,387	215,431
Disposals	(3,359 )	(310,225 )	(70,663 )	(62,306 )	(446,553 )
On revaluations	(298,506 )	-	-	-	(298,506 )

As at 31 December 2024	-	396,568	246,962	308	643,838

Net Book Value
As at 31 December 2024	487,467	612,147	373,382	2,679	1,475,675

As at 1 January 2024	379,245	555,332	346,019	8,141	1,288,737

Tangible assets held at valuation

Included in Freehold Property are the workshops and yard which were revalued on 15 September 2025 at £487,467 based on a valuation prepared by Richard D Furnival BSc(Hons) MRICS FAAV of Armitstead Barnett LLP. The historical cost of the assets is £209,514.

5. Stocks

	2024	2023
	£	£
Stock	245,048	311,434
Work in progress	87,296	31,900

	332,344	343,334

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	(62,589 )	68,982
Prepayments and accrued income	16,800	21,107
Intercompany Loan Account	244,337	315,006

	198,548	405,095

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	718,261	863,142
HP/ Finance lease	-	64,424
Corporation tax	144,312	154,944
PAYE and NIC	20,770	25,832
VAT	102,309	114,592
Pension Fund	1,800	1,907
Trade creditors - credit cards	4,171	11,332
Accruals and deferred income	28,984	135,902

	1,020,607	1,372,075

Svenska Handelsbanken hold a fixed and floating charge under a mortgage debenture, over all current and future assets of the company.

Page 5

Page 6

R E Buildings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

9. Directors Advances, Credits and Guarantees

There were no directors loans or advances during the year.

10. Reserves

	Revaluation Reserve
	£
As at 1 January 2024	476,631
Deficit on revaluation	(198,678)

As at 31 December 2024	277,953

11. Related Party Transactions

The company was controlled by the three directors via their company Rawsthorne & Eastham Ltd.

12. Ultimate Controlling Party

The company's ultimate controlling party is Rawsthorne & Eastham Ltd by virtue of its ownership of 100% of the issued share capital in the company.

Page 6

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,475,675		1,288,737

			1,475,675		1,288,737
CURRENT ASSETS
Stocks	5	332,344		343,334
Debtors	6	198,548		405,095
Cash at bank and in hand		2,652,945		2,461,280

		3,183,837		3,209,709
Creditors: Amounts Falling Due Within One Year	7	(1,020,607 )		(1,372,075 )

NET CURRENT ASSETS (LIABILITIES)			2,163,230		1,837,634

TOTAL ASSETS LESS CURRENT LIABILITIES			3,638,905		3,126,371

PROVISIONS FOR LIABILITIES
Deferred Taxation			(239,326 )		(213,404 )

NET ASSETS			3,399,579		2,912,967

CAPITAL AND RESERVES
Called up share capital	8		100		100
Revaluation reserve	10		277,953		476,631
Profit and Loss Account			3,121,526		2,436,236

SHAREHOLDERS' FUNDS			3,399,579		2,912,967