Company registration number 08037843 (England and Wales)
CITYSHAPE INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
CITYSHAPE INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 9
CITYSHAPE INVESTMENTS LIMITED
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,757
1,085
Investment property
5
80,990
80,990
Investments
6
4,225,731
4,222,731
4,308,478
4,304,806
Current assets
Stocks
-
17,394
Debtors
7
643,168
567,031
Cash at bank and in hand
40,155
35,352
683,323
619,777
Creditors: amounts falling due within one year
8
(202,340)
(8,291)
Net current assets
480,983
611,486
Total assets less current liabilities
4,789,461
4,916,292
Creditors: amounts falling due after more than one year
9
(3,099,018)
(3,334,768)
Provisions for liabilities
(4,868)
(4,700)
Net assets
1,685,575
1,576,824
Capital and reserves
Called up share capital
1,100
1,100
Revaluation reserve
14,704
14,704
Profit and loss reserves
1,669,771
1,561,020
Total equity
1,685,575
1,576,824
CITYSHAPE INVESTMENTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2025
30 June 2025
- 2 -

For the financial year ended 30 June 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.true

The financial statements were approved by the board of directors and authorised for issue on 2 February 2026 and are signed on its behalf by:
C E Diment
Director
Company registration number 08037843 (England and Wales)
CITYSHAPE INVESTMENTS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 July 2023
1,100
14,704
1,472,601
1,488,405
Year ended 30 June 2024:
Profit and total comprehensive income
-
-
88,419
88,419
Balance at 30 June 2024
1,100
14,704
1,561,020
1,576,824
Year ended 30 June 2025:
Profit and total comprehensive income
-
-
108,751
108,751
Balance at 30 June 2025
1,100
14,704
1,669,771
1,685,575
CITYSHAPE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 4 -
1
Accounting policies
Company information

Cityshape Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Market House, 10 Market Walk, Saffron Walden, Essex, CB10 1JZ.

1.1
Accounting convention

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 the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

1.2
Turnover

Turnover in relation to rent receivable from the letting of investment properties is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from sale of completed stock properties is recognised upon the exchange of contract and purchase agreements and when the risks and rewards of ownership have been transferred to purchasers.

1.3
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
3 years straight line

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.

1.4
Investment properties

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.

1.5
Fixed asset investments

Investments in subsidiaries are measured at cost less accumulated impairment.

CITYSHAPE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 5 -
1.6
Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.8
Stocks

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Stocks of property are valued at the lower of cost and net realisable value. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

1.9
Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

1.10
Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. The company has no bank loans or other more complex financial instruments that require measurement at amortised cost using the effective interest method.

CITYSHAPE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 6 -
1.11
Taxation

The tax expense for the year 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.

Current tax

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

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.

1.12
Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

CITYSHAPE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 7 -
3
Employees

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

2025
2024
Number
Number
Total
1
2
4
Tangible fixed assets
Computers
£
Cost
At 1 July 2024
1,628
Additions
1,599
At 30 June 2025
3,227
Depreciation and impairment
At 1 July 2024
543
Depreciation charged in the year
927
At 30 June 2025
1,470
Carrying amount
At 30 June 2025
1,757
At 30 June 2024
1,085
5
Investment property
2025
£
Fair value
At 1 July 2024 and 30 June 2025
80,990

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

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
63,275
63,275
Accumulated depreciation
-
-
Carrying amount
63,275
63,275
CITYSHAPE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 8 -
6
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
4,225,731
4,222,731
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 July 2024
4,222,731
Additions
3,000
At 30 June 2025
4,225,731
Carrying amount
At 30 June 2025
4,225,731
At 30 June 2024
4,222,731
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
14,114
10,977
Amounts owed by group undertakings
403,279
45,271
Prepayments and accrued income
107,636
99,090
525,029
155,338
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
118,139
411,693
Total debtors
643,168
567,031
CITYSHAPE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 9 -
8
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
862
777
Amounts owed to group undertakings
195,888
-
0
Taxation and social security
1,897
3,149
Accruals and deferred income
3,693
4,365
202,340
8,291
9
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Other borrowings
3,099,018
3,334,768
Creditors which fall due after five years are payable as follows:
Payable other than by instalments
3,099,018
3,214,018
10
Ultimate controlling party

The ultimate controlling parties are M and P Marshall by virtue of their shareholding.

11
Related party transactions

The directors who are also the ordinary shareholders continued to provide the company with an unsecured loan with a 3% coupon rate compounded annually. The directors have continued to agree that interest is waived. The balance outstanding at the year end was £3,099,018 (2024: £3,214,018).

During the year the company provided a loan to a subsidiary company, Follis Investments Limited. The loan is interest free and repayable on demand. There was no outstanding balance at the year-end (2024: £45,176).

During the year, Follis Investments Limited provided the company with a separate interest bearing loan. Interest was charged on the loan at a rate of 4% per annum, amounting to £2,049. The balance owed as at the year-end amounted to £195,888 (2024: £120,750).

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