REGISTERED NUMBER: 14029320 (England and Wales)

Financial Statements

for the Year Ended 31 December 2025

for

Outercircle (TSP Investments) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs J Long

Mr A E Long

REGISTERED OFFICE:

The Old Rectory

Rectory Road

Coleby

Lincoln

LN5 0AJ

REGISTERED NUMBER:

14029320 (England and Wales)

AUDITORS:

Wright Vigar Limited

Statutory Auditors

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

FIXED ASSETS

Tangible assets

4

6,240

7,020

Investment property

5

3,950,000

4,001,172

3,956,240

4,008,192

CURRENT ASSETS

Debtors

6

21,887

32,131

Cash at bank

83

-

21,970

32,131

CREDITORS

Amounts falling due within one year

7

107,376

109,697

NET CURRENT LIABILITIES

(85,406

)

(77,566

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,870,834

3,930,626

CREDITORS

Amounts falling due after more than one year

8

3,526,800

3,475,779

NET ASSETS

344,034

454,847

CAPITAL AND RESERVES

Called up share capital

10

1

1

Retained earnings

344,033

454,846

SHAREHOLDERS' FUNDS

344,034

454,847

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 Board of Directors and authorised for issue on 29 April 2026 and were signed on its behalf by:

Mr A E Long - Director

1.	STATUTORY INFORMATION

Outercircle (TSP Investments) 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.

The company's continued operation depends on the financial support of its parent company. On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis.

Critical accounting judgements and key sources of estimation uncertainty

In the process of applying its accounting policies, the company is required to make certain estimates, judgments and assumptions that it believes are reasonable based on the information available.These judgments, estimates and assumptions affect the amounts of assets and liabilities at the date of the financial statements and the amounts of revenues and expenses recognised during the reporting periods presented.

On an ongoing basis, the group evaluates its estimate using historical experience, consultation with experts and other methods considered reasonable in the particular circumstances. Actual results may differ significantly from the estimates, the effect of which is recognised in the period in which the facts that give rise to the revision become known.

- Valuation of investment properties

The Directors exercise judgment in their valuation of investment properties. Valuations are 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.

Turnover

Turnover comprises of rents received by the company during the year.

Turnover is recognised in the period it relates to.

Tangible fixed assets

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

Plant and machinery

-

10% on cost

Investment property

Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost.

Subsequent to initial recognition investment properties are carried at fair value determined annually by company 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 the Statement of comprehensive income.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provision of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in the profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been would the impairment not previously not been recognised.

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.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2025

and 31 December 2025

7,800

DEPRECIATION

At 1 January 2025

780

Charge for year

780

At 31 December 2025

1,560

NET BOOK VALUE

At 31 December 2025

6,240

At 31 December 2024

7,020

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

4,001,172

Additions

136,603

Revaluations

(187,775

)

At 31 December 2025

3,950,000

NET BOOK VALUE

At 31 December 2025

3,950,000

At 31 December 2024

4,001,172

Fair value at 31 December 2025 is represented by:

£

Valuation in 2025

(187,775

)

Cost

4,137,775

3,950,000

Investment property was valued on an open market basis by Knight Frank on 9 April 2026.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

9,201

24,180

Other debtors

12,686

7,951

21,887

32,131

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

-

2,572

Taxation and social security

13,917

12,864

Other creditors

93,459

94,261

107,376

109,697

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

2,850,000

2,850,000

Amounts owed to group undertakings

676,800

625,779

3,526,800

3,475,779

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

2,850,000

2,850,000

The bank loan is secured against properties owned by the business and a group company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1

Ordinary

1

1

1

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Colcomb FCCA (Senior Statutory Auditor)

for and on behalf of Wright Vigar Limited

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13.	POST BALANCE SHEET EVENTS

Subsequent to the year end, the company refinanced its existing loan facilities. The refinancing was completed after the reporting date and replaced the borrowing arrangements in place at the year end with new facilities on revised terms.

As the refinancing occurred after the balance sheet date, no adjustment has been made to the amounts recognised in these financial statements.

14.	ULTIMATE CONTROLLING PARTY

The ultimate parent company with a 100% holding is Travel Sector Property Limited, a company registered in England and Wales. Travel Sector Property Limited prepares group financial statements and copies can be obtained from its registered office at The Old Rectory, Rectory Road, Coleby, Lincoln, Lincolnshire, LN5 0AJ.