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REGISTERED NUMBER: 02582783 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2025

for

F C R Ludlam Limited

| F C R Ludlam Limited (Registered number: 02582783) |

Contents of the Financial Statements

for the Year Ended 30 June 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| F C R Ludlam Limited |

Company Information

for the Year Ended 30 June 2025

| DIRECTOR: | Mr F Ludlam

| REGISTERED OFFICE: | 51 Collegiate Crescent

| Sheffield

| S10 2BR

| REGISTERED NUMBER: | 02582783 (England and Wales)

| ACCOUNTANTS: | Sutton McGrath Hartley Limited

| 5 Westbrook Court

| Sharrowvale Road

| Sheffield

| S11 8YZ

| F C R Ludlam Limited (Registered number: 02582783) |

Balance Sheet

30 June 2025

2025 | 2024 |

| Notes | £ | £ | £ | £

FIXED ASSETS

Intangible assets | 4 | 13,230 |  | 15,930 |  |

Tangible assets | 5 | 202,485 |  | 217,424 |  |

Investments | 6 | 1,000 |  | 1,000 |  |

Investment property | 7 | 15,570,000 |  | 15,570,000 |  |

15,786,715 |  | 15,804,354 |  |

CURRENT ASSETS

Debtors | 8 | 68,559 |  | 92,459 |  |

Cash at bank and in hand | 213,119 |  | 122,637 |  |

281,678 |  | 215,096 |  |

CREDITORS

Amounts falling due within one year | 9 | 473,146 |  | 461,790 |  |

NET CURRENT LIABILITIES | (191,468 | ) | (246,694 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 15,595,247 |  | 15,557,660 |  |

CREDITORS

Amounts falling due after more than one year | 10 | (7,312,987 | ) | (7,312,987 | ) |

PROVISIONS FOR LIABILITIES | (1,195,436 | ) | (1,197,823 | ) |

NET ASSETS | 7,086,824 |  | 7,046,850 |  |

CAPITAL AND RESERVES

Called up share capital | 12 | 2,425 |  | 2,425 |  |

Revaluation reserve | 13 | 2,662,416 |  | 2,662,416 |  |

Retained earnings | 4,421,983 |  | 4,382,009 |  |

SHAREHOLDERS' FUNDS | 7,086,824 |  | 7,046,850 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

| F C R Ludlam Limited (Registered number: 02582783) |

Balance Sheet - continued

30 June 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 director and authorised for issue on 17 December 2025 and were signed by:

Mr F Ludlam - Director

| F C R Ludlam Limited (Registered number: 02582783) |

Notes to the Financial Statements

for the Year Ended 30 June 2025

1. | STATUTORY INFORMATION

| F C R Ludlam Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. | 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.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Revenue is recognised by the company in respect of rental income over the period to which it relates.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Computer software is being amortised evenly over its estimated useful life of ten years.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Freehold property | - | 2% on cost

| Plant and machinery | - | 20% on cost

| Fixtures and fittings | - | 25% on cost

| Motor vehicles | - | 20% on cost

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| The fair value is determined annually by the director, on an open market value for existing use basis.

| 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.

| F C R Ludlam Limited (Registered number: 02582783) |

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| Deferred tax

| 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.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 6 (2024 - 6 ) .

4. | INTANGIBLE FIXED ASSETS

Computer |

software |

| £

| COST

| At 1 July 2024

| and 30 June 2025 | 27,000 |  |

| AMORTISATION

| At 1 July 2024 | 11,070 |  |

| Amortisation for year | 2,700 |  |

| At 30 June 2025 | 13,770 |  |

| NET BOOK VALUE

| At 30 June 2025 | 13,230 |  |

| At 30 June 2024 | 15,930 |  |

| F C R Ludlam Limited (Registered number: 02582783) |

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

5. | TANGIBLE FIXED ASSETS

Fixtures |  |

Freehold | Plant and | and | Motor |  |

property | machinery | fittings | vehicles | Totals |

| £ | £ | £ | £ | £

| COST

| At 1 July 2024 |

| and 30 June 2025 | 269,783 |  | 54,710 |  | 278,230 |  | 14,945 |  | 617,668 |  |

| DEPRECIATION

| At 1 July 2024 | 65,070 |  | 43,162 |  | 278,174 |  | 13,838 |  | 400,244 |  |

| Charge for year | 5,395 |  | 8,539 |  | 56 |  | 949 |  | 14,939 |  |

| At 30 June 2025 | 70,465 |  | 51,701 |  | 278,230 |  | 14,787 |  | 415,183 |  |

| NET BOOK VALUE

| At 30 June 2025 | 199,318 |  | 3,009 |  | - |  | 158 |  | 202,485 |  |

| At 30 June 2024 | 204,713 |  | 11,548 |  | 56 |  | 1,107 |  | 217,424 |  |

6. | FIXED ASSET INVESTMENTS

Shares in |

group |

undertakings |

| £

| COST

| At 1 July 2024

| and 30 June 2025 | 1,000 |  |

| NET BOOK VALUE

| At 30 June 2025 | 1,000 |  |

| At 30 June 2024 | 1,000 |  |

7. | INVESTMENT PROPERTY

Total |

| £

| FAIR VALUE

| At 1 July 2024

| and 30 June 2025 | 15,570,000 |  |

| NET BOOK VALUE

| At 30 June 2025 | 15,570,000 |  |

| At 30 June 2024 | 15,570,000 |  |

| Fair value at 30 June 2025 is represented by:

| £

| Valuation in 2021 | 3,857,061 |  |

| Cost | 11,712,939 |  |

15,570,000 |  |

| F C R Ludlam Limited (Registered number: 02582783) |

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

7. | INVESTMENT PROPERTY - continued

| If the investment properties had not been revalued they would have been included at the following historical cost:

2025 | 2024 |

| £ | £

| Cost | 11,712,939 |  | 11,712,939 |  |

| The investment properties were valued on an open market basis on 30 June 2025 by the director of the company .

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

2025 | 2024 |

| £ | £

| Trade debtors | 19,157 |  | 23,419 |  |

| Other debtors | 49,402 |  | 69,040 |  |

68,559 |  | 92,459 |  |

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

2025 | 2024 |

| £ | £

| Bank loans and overdrafts | - |  | 11,261 |  |

| Trade creditors | 12,741 |  | 22,841 |  |

| Taxation and social security | 103,359 |  | 143,069 |  |

| Other creditors | 357,046 |  | 284,619 |  |

473,146 |  | 461,790 |  |

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

2025 | 2024 |

| £ | £

| Bank loans | 7,312,987 |  | 7,312,987 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more 5 yr by instal | 7,312,987 |  | 7,312,987 |  |

11. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

| £ | £

| Bank loans | 7,312,987 |  | 7,324,248 |  |

| The bank loans included above are repayable by instalments with interest being accrued monthly. The bank loans are secured against the properties owned by the company.

| F C R Ludlam Limited (Registered number: 02582783) |

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

12. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

value: |  | £ | £

| 1,749 | A Ordinary | £1 | 1,749 |  | 1,749 |  |

| 86 | B Ordinary | £1 | 86 |  | 86 |  |

| 590 | C Ordinary | £1 | 590 |  | 590 |  |

2,425 |  | 2,425 |  |

13. | RESERVES

Revaluation |

reserve |

| £

| At 1 July 2024

| and 30 June 2025 | 2,662,416 |  |

14. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 30 June 2025 and 30 June 2024:

2025 | 2024 |

| £ | £

| Mr F Ludlam

| Balance outstanding at start of year | 61,482 |  | 384,184 |  |

| Amounts advanced | 180,950 |  | 305,831 |  |

| Amounts repaid | (278,468 | ) | (628,533 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | (36,036 | ) | 61,482 |  |

| This balance is unsecured and interest is charged at HMRC's approved rate with no fixed repayment terms.

15. | RELATED PARTY DISCLOSURES

| Included in other creditors is a balance of £59,234 (2024: £67,817) due to a trust which holds a participating interest in the company of which the company's director is one of the trustees but is not a beneficiary. This amount is unsecured and interest free with no repayment terms.

| Included in other creditors is a balance of £1,000 (2024: £1,000) owed to a subsidiary company. This amount is unsecured and interest free with no repayment terms.