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REGISTERED NUMBER: 03683530 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

FAIRCASTLE LIMITED

FAIRCASTLE LIMITED (Registered number: 03683530)

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 |

FAIRCASTLE LIMITED

Company Information

for the Year Ended 31 March 2025

| DIRECTORS: | R. Tager, K.C.

| E M Tager

| SECRETARY: | C.M. Frommer

| REGISTERED OFFICE: | Romeo House,

| 160 Bridport Road,

| London

| N18 1SY

| REGISTERED NUMBER: | 03683530 (England and Wales)

| ACCOUNTANTS: | Purcells

| Chartered Accountants

| 4 Quex Road

| London

| NW6 4PJ

FAIRCASTLE LIMITED (Registered number: 03683530)

Balance Sheet

31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 3 | 4,045,747 |  | 4,045,747 |  |

Investments | 4 | 4,663,189 |  | 4,963,189 |  |

8,708,936 |  | 9,008,936 |  |

CURRENT ASSETS

Debtors | 5 | 940,602 |  | 997,181 |  |

Cash at bank | 519,430 |  | 3,988,446 |  |

1,460,032 |  | 4,985,627 |  |

CREDITORS

Amounts falling due within one year | 6 | 1,006,017 |  | 512,768 |  |

NET CURRENT ASSETS | 454,015 |  | 4,472,859 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 9,162,951 |  | 13,481,795 |  |

CREDITORS

Amounts falling due after more than one year | 7 | 1,315,452 |  | - |  |

NET ASSETS | 7,847,499 |  | 13,481,795 |  |

CAPITAL AND RESERVES

Called up share capital | 8 | 1,000 |  | 1,000 |  |

Capital Reserve | 9 | 441,200 |  | 441,200 |  |

Capital contribution | 9 | 5,983,356 |  | 11,731,343 |  |

Fair value reserve | 9 | 1,719,500 |  | 1,719,500 |  |

Retained earnings | 9 | (297,557 | ) | (411,248 | ) |

SHAREHOLDERS' FUNDS | 7,847,499 |  | 13,481,795 |  |

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.

FAIRCASTLE LIMITED (Registered number: 03683530)

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 20 December 2025 and were signed on its behalf by:

R. Tager, K.C. - Director

FAIRCASTLE LIMITED (Registered number: 03683530)

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | 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 as modified by the revaluation of certain assets.

| Tangible fixed assets

| Tangible fixed assets, which consist solely of freehold investment properties, are stated at market value and any surplus on revaluation is credited to the revaluation reserve. This treatment is a departure from the Companies Act 2006 concerning the depreciation of tangible fixed assets, which is necessary to give a true and fair view.

| 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 taxation

| 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.

| Turnover

| Turnover comprises income from the company's residential and commercial property letting, carried out within the United Kingdom, exclusive of value added tax, where relevant.

2. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2024 - 2 ) .

FAIRCASTLE LIMITED (Registered number: 03683530)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

3. | TANGIBLE FIXED ASSETS

|  | Freehold investment properties |  |

| COST OR VALUATION |  | £ |  |

| Balance brought forward |  | 4,045,747 |  |

| Balance carried forward |  | 4,045,747 |  |

| The freehold investment properties were revalued on an open market value basis, for existing use, based on rental yields, by the directors at 31 March 2025. If these properties were not included at valuation they would be included under the historical cost convention at their original cost to the company of £2,826,247 (2024 - £2,826,247), less depreciation of £965,702 (2024 - £965,702).

4. | FIXED ASSET INVESTMENTS

| The company holds a 50% interest in the issued ordinary share capital of Romeo Trading Company Limited, a company incorporated in Great Britain whose principal activity is the wholesaling of clothing and related accessories.

| The investment at nominal cost is £600 (2024: £600), together with a long-term loan of £4,113,339, bringing the total carrying amount of the investment to £4,113,939.

| According to the directors, the nominal investment of £600 has an estimated fair value of £2,500,000.

| The results and financial position of Romeo Trading Company Limited, as extracted from its financial statements, are as follows:

| Profit for the year ended 31.3.2025 |  | £14.164 |  |

| Aggregate capital and reserves at 31.3.2025 |  | £6,118,175 |  |

| During the year, the company also acquired 100% of the issued share capital of Oaklawn Limited for a consideration of £550,250. As a result, Oaklawn Limited is now accounted for as a wholly-owned subsidiary.

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Amount due from related

| companies | 370,000 |  | 440,000 |  |

| Other debtors | 570,602 |  | 557,181 |  |

940,602 |  | 997,181 |  |

FAIRCASTLE LIMITED (Registered number: 03683530)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Corporation tax | 60,775 |  | - |  |

| Directors' loan account | 786,555 |  | 416,692 |  |

| Taxes and social security | 2,561 |  | 10,636 |  |

| Other creditors | 156,126 |  | 85,440 |  |

1,006,017 |  | 512,768 |  |

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Other loans - 2-5 years | 1,315,452 |  | - |  |

8. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 1,000 | Ordinary | £1 | 1,000 |  | 1,000 |  |

9. | RESERVES

|  | Capital reserve |  | Fair value reserve |  | Profit and loss account |  |

|  | £ |  | £ |  | £ |  |

| Balance at 1 April 2024 |  | 441,200 |  | 1,719,500 |  | (411,248 | ) |

| Profit for the year |  | - |  | - |  | 113,691 |  |

| Revaluation adjustment |  | - |  | - |  | - |  |

| Balance at 31 March 2025 |  | 441,200 |  | 1,719,500 |  | (297,557 | ) |

| Capital contribution

| The long term loans from group companies are now treated as a capital contribution

|  | 31.3.25 |  | 31.3.24 |  |

|  | £ |  | £ |  |

| Balance at 1 April 2024 and 1 April 2023 |  | 11,731,343 |  | 11,986,555 |  |

| Capital contribution for the year |  | (5,747,987 | ) | (255,212 | ) |

| Balance at 31 March 2025/ 31 March 2024 |  | 5,983,356 |  | 11,731,343 |  |

| The above figure includes a debtor balance owed by Pidom of £3,581,653 which has not been recoverd to date.

FAIRCASTLE LIMITED (Registered number: 03683530)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

10. | CONTINGENT LIABILITIES

| The company has become a guarantor for the debts incurred by Pidom Export against Solev Limited, which are both associate companies with Faircastle..

11. | ULTIMATE PARENT UNDERTAKING

| The company's ultimate holding company is Greenquest Limited, which is incorporated in Great Britain.

12. | RELATED PARTY TRANSACTIONS

| i) The company is related to Pidom Export Limited, owing to common directors and a common shareholder. During the year the company received services on commercial terms totalling £52,916 from Pidom Export Limited and accrued charges of £108,816 were owed to Pidom Export Limited in this regard at the balance sheet date. Additionally at the balance sheet date, the company was owed £3,481,653 by Pidom Export Limited.

| ii) During the year the company received services on commercial terms totalling £24,365 from Romeo Trading Company Limited and at the balance sheet date the company was owed £4,113,339 by Romeo Trading Company Limited.

| iii) The company pays interest at 5% per annum on the director's loan account balance and during the year was charged £21,830 in this regard. At the balance sheet date accrued interest payable amounted

| £21,830.

| iv) The amounts due to group companies at the balance sheet date, as shown in note 10 as capital contribution, relate to Greenquest Limited, Rivergrove Limited and Springmanor Limited.