Company registration number 01002815 (England and Wales)
EXHALL PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
EXHALL PROPERTIES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
EXHALL PROPERTIES LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF EXHALL PROPERTIES LIMITED FOR THE YEAR ENDED 5 APRIL 2025
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Exhall Properties Limited for the year ended 5 April 2025 set out on pages 2 to 8 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 b oard of d irectors of Exhall Properties Limited, as a body, in accordance with the terms of our engagement letter dated 17 December 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Exhall Properties Limited and state those matters that we have agreed to state to the b oard of d irectors of Exhall 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 Exhall Properties Limited and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that Exhall 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 Exhall Properties Limited. You consider that Exhall 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 Exhall 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 f inancial statements.

Spencer Gardner Dickins Limited
Chartered Accountants
3 Coventry Innovation Village
Cheetah Road
Coventry
CV1 2TL
1 January 2026
EXHALL PROPERTIES LIMITED
BALANCE SHEET
AS AT
5 APRIL 2025
05 April 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
9,101
10,707
Investment property
4
8,243,416
7,416,000
Investments
5
30,000
30,000
8,282,517
7,456,707
Current assets
Debtors
6
347,327
184,762
Cash at bank and in hand
242,953
433,749
590,280
618,511
Creditors: amounts falling due within one year
7
(612,269)
(574,682)
Net current (liabilities)/assets
(21,989)
43,829
Total assets less current liabilities
8,260,528
7,500,536
Provisions for liabilities
(529,241)
(386,213)
Net assets
7,731,287
7,114,323
Capital and reserves
Called up share capital
8
1,100
1,100
Non-distributable profits reserve
9
3,909,221
3,478,909
Distributable profit and loss reserves
3,820,966
3,634,314
Total equity
7,731,287
7,114,323
EXHALL PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
5 APRIL 2025
05 April 2025
- 3 -

For the financial year ended 5 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

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.

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

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

The financial statements were approved by the board of directors and authorised for issue on 1 January 2026 and are signed on its behalf by:
S M Starley
Director
Company registration number 01002815 (England and Wales)
EXHALL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
- 4 -
1
Accounting policies
Company information

Exhall Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Coventry Innovation Village, Cheetah Road, Coventry, CV1 2TL.

1.1
Basis of preparation

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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

Turnover represents amounts receivable for rent net of VAT.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Fixtures, fittings and equipment
15% reducing balance

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.

1.5
Investment property

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 a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Fixed asset investments

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

EXHALL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
1
Accounting policies
(Continued)
- 5 -
1.7
Impairment of fixed assets

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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.8
Cash and cash equivalents

Cash at bank and in hand 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.

1.9
Financial instruments

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.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.10
Equity instruments

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.

1.11
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

EXHALL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
1
Accounting policies
(Continued)
- 6 -

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

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

1.13
Retirement benefits

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

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
3
3
Tangible fixed assets
Fixtures, fittings and equipment
£
Cost
At 6 April 2024 and 5 April 2025
18,000
Depreciation and impairment
At 6 April 2024
7,293
Depreciation charged in the year
1,606
At 5 April 2025
8,899
Carrying amount
At 5 April 2025
9,101
At 5 April 2024
10,707
EXHALL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
- 7 -
4
Investment property
2025
£
Fair value
At 6 April 2024
7,416,000
Additions
253,666
Revaluations
573,750
At 5 April 2025
8,243,416

Investment property comprises a range of small to medium sized industrial and warehouse units. The fair value of the investment property has been arrived at on the basis of a valuation carried out in November 2025 by surveyors who were not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The directors consider the November 2025 valuation to be representative of the investment properties at 5 April 2025.

The valuation of certain properties that were demolished in July 2025 and on which new units will be constructed are valued in line with their previous valuation of £595,000 dated November 2022.

If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2025
2024
£
£
Cost
3,807,221
3,553,555
Accumulated depreciation
-
-
Carrying amount
3,807,221
3,553,555
5
Fixed asset investments
2025
2024
£
£
Other investments other than loans
30,000
30,000
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
241,140
115,999
Other debtors
104,147
66,853
Prepayments and accrued income
2,040
1,910
347,327
184,762
EXHALL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
- 8 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
27,657
6,303
Corporation tax
64,169
64,586
Other taxation and social security
21,305
12,433
Deferred income
108,083
104,629
Other creditors
376,516
376,678
Accruals and deferred income
14,539
10,053
612,269
574,682
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,100
1,100
1,100
1,100
9
Non-distributable profits reserve
2025
2024
£
£
At the beginning of the year
3,478,909
3,524,933
Revaluation gain and deferred tax movement in the year
430,312
(46,024)
At the end of the year
3,909,221
3,478,909
10
Operating lease commitments

At the year end future rents on existing tenancy agreements is expected to be £1,942,989 (2024 : £2,095,870).

11
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
Other related parties
83,647
64,894
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