The director of the company has elected not to include a copy of the income statement within the financial statements.true

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

The director acknowledges his 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.

Finsbury Homes Limited is a private company limited by shares incorporated in England and Wales. The registered office is 71 Queen Victoria Street, London, United Kingdom, EC4V 4BE.

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, 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.

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.

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 statement of financial position 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.

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. Taxable profit differs from net profit as reported in the income statement 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.

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

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. At the reporting date each year, it is measured at fair value with any changes in the fair value recognised in the profit or loss. The directors consider the cost of the property to be equivalent to fair value at the year end.

During the year a loan was advanced to the company in relation to one of its properties. The loan is repayable at maturity on 21 March 2035 and are held under the effective interest rate method within the accounts. Interest is paid monthly over the loan term at a fixed rate of 5.65% until 31 December 2029. The loan is secured over the property owned by the Company.

A deed of subordination was entered into with a related entity (junior lender) that also provided funds to the Company for the purchase of the property. The junior lender has agreed that the senior lender debt will take priority to its own in terms of any repayments. The junior debt balance is £885,193 (2024: £nil) and is interest free and repayable on demand subject to the aforementioned restrictions.

During the period, the Company acquired properties that were paid on its behalf by entities under common control. The total amount owed to connected companies and group undertakings is £1,336,298 (2024: £nil) and the balance is interest free and repayable on demand. Per Note 6 however, £885,193 (2024: £nil) of this balance is subject to a deed of subordination and restrictions on repayment.