Christian Patis Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—6

1. General Information

Christian Patis Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01264831 . The registered office is 156a Burnt Oak Broadway, Edgware, Middlesex, HA8 0AX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared in accordance with the FRS 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, net of discounts. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	Not depreciable
Leasehold	Not depreciable
Fixtures & Fittings	33.33% reducing balance

2.4. Investment Properties

Investment property comprises non-owner occupied buildings held to earn rentals and for capital appreciation.

All investment properties are carried at fair value. The fair value of the company's investment properties is determined annually at the reporting date by the directors. In determining the valuations, the directors refer to current market conditions and recent sales transactions of similar properties. In estimating the fair value of the properties, the highest and best use of the property is their current use. Investment property is not depreciated. Changes in fair value are recognised in the income statement.

2025 fair value of investment property: £6,945,000 (2024: £6,945,000)

Investment property is derecognised when disposed of, or when no future economic benefits are expected from the disposal. Any gain or loss arising on derecognition of the property is recognised in profit or loss in the period in which the property is derecognised.

2.5. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

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Christian Patis Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

2.6. Financial Instruments

Basic financial assets

Basic financial assets include cash, trade receivables, loans receivable and other financial instruments that meet the relevant conditions.

These assets are initially recognised at transaction price (including transaction costs) unless the arrangement constitutes a financing transaction, in which case the asset is measured at the present value of future receipts discounted at a market rate of interest.

Subsequently, basic financial assets are measured at amortised cost using the effective interest method, less any impairment losses. At each reporting date, the company assesses whether there is objective evidence of impairment. If such evidence exists, the carrying amount is reduced and the loss is recognised in the income statement.

Basic financial assets are derecognised when the rights to the cash flows from the asset expire or are substantially transferred to a third party.

Basic financial liabilities

Basic financial liabilities include trade payables, accruals, loans payable and other financial instruments that meet the relevant conditions.

These liabilities are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction. In such cases, the liability is measured at the present value of future payments discounted at a market rate of interest.

Subsequently, basic financial liabilities are measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the obligation is discharged, cancelled, or expires.

2.7. Taxation

The tax expense represents the sum of the corporation tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was 1 (2024: 1)

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Christian Patis Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

4. Tangible Assets

	Land & Property
	Freehold	Leasehold	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 October 2024	5,450,000	1,495,000	70,886	7,015,886

As at 30 September 2025	5,450,000	1,495,000	70,886	7,015,886

Depreciation
As at 1 October 2024	-	-	70,647	70,647
Provided during the period	-	-	80	80

As at 30 September 2025	-	-	70,727	70,727

Net Book Value
As at 30 September 2025	5,450,000	1,495,000	159	6,945,159

As at 1 October 2024	5,450,000	1,495,000	239	6,945,239

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	3,247	6,960
Prepayments and accrued income	6,615	7,019
Other debtors	7,775	3,588
Amount owed by parent undertaking	2,160	-

	19,797	17,567

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	-	400
Corporation tax	45,921	47,658
Payments received on acount	30,250	30,250
Accruals and deferred income	14,272	11,727
Directors' loan accounts	14,279	11,809

	104,722	101,844

7. Deferred Taxation

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences and the deferred taxation liability wholly comprises the fair value gain of the investment properties.

	2025	2024
	£	£
Other timing differences	1,401,623	1,401,623

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Christian Patis Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	97	97

9. Reserves

Included in retained earnings is £4,204,869 (2024: £4,204,869) of net profits which are not available for distribution as they are unrealised.

The capital redemption reserve of £3 created in the 2021 financial year continues to be unavailable for distribution.

10. Controlling Parties

The company's immediate and ultimate parent undertaking is Homecom Ltd. Homecom Ltd was incorporated in England.

Copies of the parent company's accounts may be obtained from the secretary, 156a Burnt Oak Broadway, Edgware,

Middlesex, HA8 0AX.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		6,945,159		6,945,239

			6,945,159		6,945,239
CURRENT ASSETS
Debtors	5	19,797		17,567
Cash at bank and in hand		651,991		519,159

		671,788		536,726
Creditors: Amounts Falling Due Within One Year	6	(104,722 )		(101,844 )

NET CURRENT ASSETS (LIABILITIES)			567,066		434,882

TOTAL ASSETS LESS CURRENT LIABILITIES			7,512,225		7,380,121

PROVISIONS FOR LIABILITIES
Deferred Taxation	7		(1,401,623 )		(1,401,623 )

NET ASSETS			6,110,602		5,978,498

CAPITAL AND RESERVES
Called up share capital	8		97		97
Capital redemption reserve			3		3
Income Statement			6,110,502		5,978,398

SHAREHOLDERS' FUNDS			6,110,602		5,978,498