ACCOUNTS - Final Accounts

Registered number: 16267314

HIGGINS PARTNERSHIPS 1LRH LTD

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 JULY 2025

HIGGINS PARTNERSHIPS 1LRH LTD

REGISTERED NUMBER: 16267314

BALANCE SHEET

AS AT 31 JULY 2025

	31 July
	2025
Note	£

Fixed assets
Investment property	4	5,903,269
		5,903,269

Creditors: amounts falling due after more than one year	5	(5,573,395)
Provisions for liabilities
Deferred tax	6	(329,774)
		(329,774)
Net assets		100

Capital and reserves
Called up share capital		100
		100

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 December 2025.

D G Higgins BSc(Hons)	M K Francis BSc(Hons) FCA
Director	Director

The notes on pages 2 to 8 form part of these financial statements.

Page 1

HIGGINS PARTNERSHIPS 1LRH LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JULY 2025

1.	General information

Higgins Partnerships 1LRH Limited is a private company, limited by shares, domiclied in England and Wales, registration number 16267314. The registered office is 1 Langston Road, Loughton, Essex, IG10 3SD. The principal activity of the company is that of buying and selling real estate.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.

Higgins Partnerships 1LRH Limited was incorporated 21 February 2025 under the Companies Act 2006. These financial statements cover the period from 21st February 2025 to 31 July 2025, being the first financial year.

The financial statements are presented in pounds sterling which is the functional currency of the company, rounded to the nearest pound.

Since this is the first year of the company's operations following its incorporation, no comparative financial information for the previous year has been presented.

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Higgins Group PLC as at 31st July 2025 and these financial statements may be obtained from Companies House.

Page 2

HIGGINS PARTNERSHIPS 1LRH LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JULY 2025

2.Accounting policies (continued)

2.3

Going concern

In determining the appropriate basis of preparation of the financial statements the directors have
conducted a rigorous assessment of the Company's ability to continue to operate for the foreseeable
future. In making this assessment, consideration has been given to the inherent uncertainty in future
financial forecasts and the cyclical nature of the property development market. Where applicable, the directors have applied various levels of sensitivities to key factors affecting the expected and forecast financial performance and liquidity of the Company.

The Directors note there is a contingent liability within the Financial Statements of the Ultimate Parent Company for a claim in connection with a number of defects relating to water ingress and compliance with Fire Safety regulations. The Directors believe that the Ultimate Parent Company has a very strong defence as well as there being the likelihood of being able to recover any settlements through counter claims against the supply chain and through insurance. Therefore at this stage of the proceedings, it is impractical to assess what the financial impact on the company would be. The directors have included the anticipated cost of legal fees for its defence within the Group Financial Statements.

As a conclusion of this assessment along with the continuing support of the directors and
shareholders, there is no material uncertainty in the Company's ability to continue as a going
concern. For this reason, the directors continue to adopt the going concern basis for preparing these
financial statements.

2.4

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 3

HIGGINS PARTNERSHIPS 1LRH LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JULY 2025

2.Accounting policies (continued)

2.5

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.6

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Page 4

HIGGINS PARTNERSHIPS 1LRH LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JULY 2025

2.Accounting policies (continued)

2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 5

HIGGINS PARTNERSHIPS 1LRH LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JULY 2025

2.Accounting policies (continued)

2.7

Financial instruments (continued)

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

The Company makes estimates and judgements on assets and liabilities at the balance sheet date. The Company’s estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically. The key estimates that have the most significant effect on the Company at 31 July 2025 are discussed below.

Valuation of investment property

The Company has measured its investment property at fair value. In determining fair value, the directors
have performed valuations in the current period.

Page 6

HIGGINS PARTNERSHIPS 1LRH LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JULY 2025

4.	Investment property

		Freehold investment property
		£
	Valuation
	Additions at cost	5,903,269
	At 31 July 2025	5,903,269

The 2025 valuations were made by the directors, on an open market value for existing use basis.

	If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
					31 July
					2025
					£

	Historic cost	5,903,269
		5,903,269

5.	Creditors: Amounts falling due after more than one year
		31 July
		2025
		£

	Amounts owed to group undertakings	3,559,070
	Accruals and deferred income	2,014,325
		5,573,395

Page 7

HIGGINS PARTNERSHIPS 1LRH LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JULY 2025

6.	Deferred taxation

		2025
		£

	Transferred from Parent Company	(329,774)
	At end of year	(329,774)

	The deferred taxation balance is made up as follows:
					31 July
					2025
					£

	Revaluation of property	(329,774)
		(329,774)

A deferred tax liability of £329,774 has arisen during the year as a result of the transfer of property between group companies. The property was transferred at its current market value, which will give rise to chargeable gains in the future. These chargeable gains are attributable to the company, and accordingly, the deferred tax liability is recognised in these financial statements.

7.	Related party transactions
	The Company has taken advantage of the exemptions conferred in FRS 102 Section 33 not to disclose transactions with other group companies where 100% of the voting rights are controlled within the group.

8.	Controlling party

The Ultimate Parent and Controlling Company is Higgins Group PLC, registered in England and Wales. The registered address is One Langston Road, Loughton, Essex, IG10 3SD.

The consolidated financial statements of the group are avilable to the public and may be obtained from the Companies House website.

The Ultimate Controlling Party is the Higgins family by virtue of their shareholding in the Ultimate Parent and Controlling Company.

9.	Auditors' information

The auditors' report on the financial statements for the period ended 31 July 2025 was unqualified.

The audit report was signed on 15 December 2025 by Laura Ambrose BA(Hons) FCA (Senior Statutory Auditor) on behalf of Haslers.

Page 8