In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Froud Properties Limited for the year ended 31 March 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Froud Properties Limited, as a body, in accordance with the terms of our engagement letter dated 2 February 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Froud Properties Limited and state those matters that we have agreed to state to the board of directors of Froud Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Froud Properties Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Froud Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Froud Properties Limited. You consider that Froud Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Froud Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Froud Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Amelia House, Crescent Road, Worthing, West Sussex, BN11 1RL.

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. The principal accounting policies adopted are set out below.

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. The directors have considered relevant information, including the company’s principal risks and uncertainties,true and the impact of subsequent events in making their assessment.  Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.

Turnover represents rents receivable net of VAT on furnished holiday lettings and land rental and income from woodlands. Income on furnished holiday lettings and land rental is recognised when let and income from woodlands is recognised as invoiced.

Tangible fixed assets other than freehold land and forestry are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Holiday let properties are not depreciated. The directors have considered the estimated residual value and expected useful life of the holiday let properties and are of the opinion that any depreciation charge is likely to be immaterial and accordingly have adopted a policy of non-depreciation of these assets.

Forestry assets are a non-wasting asset and accordingly no depreciation has been charged.

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.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction cost. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors and loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities classified as payable within one year are not amortised.

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

The tax currently payable is based on taxable profit for the year.

The costs of short-term employee benefits are recognised as a liability and an expense.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

The average monthly number of persons (including directors) employed by the company during the year was 4 (2024 - 3).

The fair value of the investment property has been arrived at on the basis of a valuation carried out by the

director at 31 March 2025. The valuation was made on an open market value basis by reference to market

evidence of transaction prices for similar properties.

Net obligations under hire purchase contracts of £8,280 (2024 - £3,639) included within other creditors are secured upon the assets to which the finance relates.

Included within bank loans is a balance of £9,303 (2024 - £9,338) relating to a bounce back loan supported by the UK government.

Net obligations under hire purchase contracts of £47,553 (2024 - £Nil) included within other creditors are secured upon the assets to which the finance relates.

Included within bank loans is a balance of £1,426 (2024 - £10,593) relating to a bounce back loan supported by the UK government.

Other bank loans are secured upon the assets to which the finance relates.

At the balance sheet date £809,420 (2024 - £811,646) was due on an interest bearing loan to RDM Investment Holdings Limited, a company under the control of a director, which is repayable on demand.

At the balance sheet date £2,300,092 (2024 - £2,102,424) was due from Froud Group Holdings Limited, a company under the control, which is repayable on demand.

Advances or credits have been granted by the company to its directors as follows: