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REGISTERED NUMBER: 03868710 (England and Wales)

| Unaudited Financial Statements |

| for the Year Ended 31 March 2025 |

| for |

| Homeward Properties Ltd |

Homeward Properties Ltd (Registered number: 03868710)

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Homeward Properties Ltd

Company Information

for the Year Ended 31 March 2025

| DIRECTORS: | Mr C D Gifford

| Mr D A Gifford

| SECRETARY: | Mr D A Gifford

| REGISTERED OFFICE: | Northfield House

| Shurdington Road

| Bentham

| Cheltenham

| Gloucestershire

| GL51 4UA

| BUSINESS ADDRESS: | Jubilee Farm

| Badgeworth Lane

| Badgeworth

| Cheltenham

| Gloucestershire

| GL51 4UW

| REGISTERED NUMBER: | 03868710 (England and Wales)

| ACCOUNTANTS: | ARC & Co. Accountants Limited

| Northfield House

| Shurdington Road

| Bentham

| Cheltenham

| Gloucestershire

| GL51 4UA

Homeward Properties Ltd (Registered number: 03868710)

Balance Sheet

31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 67,718 |  | 44,702 |  |

Investments | 5 | - |  | 1 |  |

Investment property | 6 | 2,970,000 |  | 2,970,000 |  |

3,037,718 |  | 3,014,703 |  |

CURRENT ASSETS

Stocks | 7 | 461,514 |  | 186,333 |  |

Debtors | 8 | 551,202 |  | 545,132 |  |

Cash at bank | 120,484 |  | 341,863 |  |

1,133,200 |  | 1,073,328 |  |

CREDITORS

Amounts falling due within one year | 9 | 409,133 |  | 344,271 |  |

NET CURRENT ASSETS | 724,067 |  | 729,057 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,761,785 |  | 3,743,760 |  |

CREDITORS

Amounts falling due after more than one year | 10 | (29,063 | ) | (12,207 | ) |

PROVISIONS FOR LIABILITIES | 12 | (317,206 | ) | (11,176 | ) |

NET ASSETS | 3,415,516 |  | 3,720,377 |  |

CAPITAL AND RESERVES

Called up share capital | 13 | 20 |  | 20 |  |

Retained earnings | 14 | 3,415,496 |  | 3,720,357 |  |

SHAREHOLDERS' FUNDS | 3,415,516 |  | 3,720,377 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Homeward Properties Ltd (Registered number: 03868710)

Balance Sheet - continued

31 March 2025

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2025 and were signed on its behalf by:

Mr D A Gifford - Director

Homeward Properties Ltd (Registered number: 03868710)

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Homeward Properties Ltd 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Plant and machinery | - | 25% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 33% on cost

| Investments in associates

| Investments in associate undertakings are recognised at cost.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Stocks

| Work in progress is valued at the lower of cost and net realisable value.

| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 4 (2024 - 4 ) .

Homeward Properties Ltd (Registered number: 03868710)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

4. | TANGIBLE FIXED ASSETS

| Plant and |  | Motor |  | Computer |

| machinery |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 April 2024 | 47,850 |  | 81,154 |  | 1,477 |  | 130,481 |  |

| Additions | 7,804 |  | 39,425 |  | - |  | 47,229 |  |

| Disposals | - |  | (9,250 | ) | - |  | (9,250 | ) |

| At 31 March 2025 | 55,654 |  | 111,329 |  | 1,477 |  | 168,460 |  |

| DEPRECIATION

| At 1 April 2024 | 29,054 |  | 55,982 |  | 743 |  | 85,779 |  |

| Charge for year | 6,650 |  | 16,149 |  | 488 |  | 23,287 |  |

| Eliminated on disposal | - |  | (8,324 | ) | - |  | (8,324 | ) |

| At 31 March 2025 | 35,704 |  | 63,807 |  | 1,231 |  | 100,742 |  |

| NET BOOK VALUE

| At 31 March 2025 | 19,950 |  | 47,522 |  | 246 |  | 67,718 |  |

| At 31 March 2024 | 18,796 |  | 25,172 |  | 734 |  | 44,702 |  |

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Motor

| vehicles

£ |

| COST

| Additions | 39,425 |  |

| At 31 March 2025 | 39,425 |  |

| DEPRECIATION

| Charge for year | 9,856 |  |

| At 31 March 2025 | 9,856 |  |

| NET BOOK VALUE

| At 31 March 2025 | 29,569 |  |

5. | FIXED ASSET INVESTMENTS

| Interest

| in

| associate

£ |

| COST

| At 1 April 2024 | 1 |  |

| Disposals | (1 | ) |

| At 31 March 2025 | - |  |

| NET BOOK VALUE

| At 31 March 2025 | - |  |

| At 31 March 2024 | 1 |  |

Homeward Properties Ltd (Registered number: 03868710)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

5. | FIXED ASSET INVESTMENTS - continued

| Fixed asset investments consists of a £1 share in GTT Developments (Cheltenham) Limited. This was disposed of at par during the year.

6. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 April 2024

| and 31 March 2025 | 2,970,000 |  |

| NET BOOK VALUE

| At 31 March 2025 | 2,970,000 |  |

| At 31 March 2024 | 2,970,000 |  |

| The directors do not consider the fair value of the property portfolio to have changed significantly during the year.

7. | STOCKS

| 31.3.25 |  | 31.3.24

£ | £ |

| Work-in-progress | 461,514 |  | 186,333 |  |

8. | DEBTORS

| 31.3.25 |  | 31.3.24

£ | £ |

| Amounts falling due within one year:

| Trade debtors | - |  | 110,880 |  |

| Amounts falling due after more than one year:

| Interco: GM (Cheltenham) Ltd | 203,250 |  | 203,250 |  |

| Interco: D&D Properties Ltd | 31,002 |  | 31,002 |  |

| Interco: Anthony MacPherson

| Construction Ltd | 316,950 |  | 200,000 |  |

551,202 |  | 434,252 |  |

| Aggregate amounts | 551,202 |  | 545,132 |  |

Homeward Properties Ltd (Registered number: 03868710)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Bank loans and overdrafts | 10,482 |  | 10,213 |  |

| Hire purchase contracts | 12,102 |  | - |  |

| Trade creditors | 3,270 |  | 13,159 |  |

| Corporation tax | 22,924 |  | 42,398 |  |

| Social security and other taxes | (554 | ) | 285 |  |

| VAT | 7,540 |  | 13,236 |  |

| Other creditors | 166,100 |  | 80,000 |  |

| Directors' current accounts | 91,369 |  | 89,580 |  |

| Deferred income | 92,400 |  | 92,400 |  |

| Accrued expenses | 3,500 |  | 3,000 |  |

409,133 |  | 344,271 |  |

10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Bank loans | 1,740 |  | 12,207 |  |

| Hire purchase contracts | 27,323 |  | - |  |

29,063 |  | 12,207 |  |

11. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.3.25 |  | 31.3.24

£ | £ |

| Hire purchase contracts | 39,425 |  | - |  |

| The hire purchase contract is secured upon the fixed asset to which it relates

12. | PROVISIONS FOR LIABILITIES

| 31.3.25 |  | 31.3.24

£ | £ |

| Deferred tax | 317,206 |  | 11,176 |  |

| Deferred |

| tax |

£ |

| Balance at 1 April 2024 | 11,176 |  |

| Tangible fixed assets | 5,516 |  |

| Fixed asset investments | 300,514 |  |

| Balance at 31 March 2025 | 317,206 |  |

Homeward Properties Ltd (Registered number: 03868710)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

13. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.3.25 |  | 31.3.24

| value: | £ | £ |

| 10 | "A" Ordinary | £1 | 10 |  | 10 |  |

| 10 | "B" Ordinary | £1 | 10 |  | 10 |  |

20 |  | 20 |  |

14. | RESERVES

| Retained

| earnings

£ |

| At 1 April 2024 | 3,720,357 |  |

| Deficit for the year | (204,861 | ) |

| Dividends | (100,000 | ) |

| At 31 March 2025 | 3,415,496 |  |

| Included within retained earnings are £1,202,056 of undistributable reserves.

15. | RELATED PARTY DISCLOSURES

| During the year the directors, Mr C D Gifford and Mr D A Gifford, made net deposits to their account of £1,789. The balance on their account at 31 March 2025 was £91,369 in credit (2024 - £89,580 in credit).

| Also during the year, Mr C D Gifford and Mr D A Gifford each received a dividend from the company of £25,000 (2024 - £25,000 each).

| Mr C D Gifford is also a director and shareholder of GM (Cheltenham) Ltd. The balance owed by that company to Homeward Properties Ltd at both 31 March 2025 and 2024 was £203,250. No interest has been charged on this account.

| Mr D A Gifford is also a director and shareholder of D&D Properties Ltd. The balance owed by that company to Homeward Properties Ltd at both 31 March 2025 and 2024 was £31,002. No interest has been charged on this account.

| Mr D A Gifford is also a director and shareholder of Anthony MacPherson Construction Ltd. During the year there were net loan transactions with that company of £116,950. The balance owed by that company to Homeward Properties Ltd at 31 March 2025 was £316,950 (2024 - £200,000). No interest has been charged on this account.

16. | ULTIMATE CONTROLLING PARTY

| During the year, the company was controlled by Mr C D Gifford and Mr D A Gifford, who together own the majority of the company's issued share capital.