Company No: 10298787 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	C E Macdonald (Appointed 03 February 2025)
	F G N Macdonald (Resigned 04 February 2025)

REGISTERED OFFICE	3rd Floor Northern Assurance Buildings
	Princess Street
	Manchester
	M2 4DN
	United Kingdom

COMPANY NUMBER

10298787 (England and Wales)

ACCOUNTANT	S&W Partners (Manchester) Limited
	3rd Floor Northern Assurance
	Albert Square
	9/21 Princess Street
	Manchester
	M2 4DN

	Note	2025		2024
		£		£
Fixed assets
Investment property	3	3,057,000		2,998,000
		3,057,000		2,998,000
Current assets
Cash at bank and in hand	4	306		372
		306		372
Creditors: amounts falling due within one year	5	( 145,138)		( 124,739)
Net current liabilities		(144,832)		(124,367)
Total assets less current liabilities		2,912,168		2,873,633
Creditors: amounts falling due after more than one year	6	( 1,927,672)		( 1,937,106)
Provision for liabilities	7, 8	( 140,825)		( 126,075)
Net assets		843,671		810,452
Capital and reserves
Called-up share capital	9	200		200
Share premium account		376,555		376,555
Fair value reserve		536,475		492,225
Profit and loss account		( 69,559 )		( 58,528 )
Total shareholders' funds		843,671		810,452

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

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of FSZ Property Ltd (registered number: 10298787) were approved and authorised for issue by the Director on 30 April 2026. They were signed on its behalf by:

C E Macdonald Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

FSZ Properties Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3rd Floor Northern Assurance Buildings, Princess Street, Manchester, M2 4DN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

Turnover

Turnover represents amounts receivable in respect of rental charges.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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

Substance over legal form

The financial statements will reflect the economic substance of transactions and events rather than their legal form. This means that transactions will be recorded and disclosed based on their underlying economic reality.

2. Employees

	2025		2024
	Number		Number
Average number of employees during the year	0		0

3. Investment property

	Investment property
	£
Valuation
As at 01 August 2024	2,998,000
Fair value movement	59,000
As at 31 July 2025	3,057,000

Valuation

The fair value of the Company’s investment property has been arrived at on the basis of valuations carried out on that date by the director of the business. In carrying out their review, the director has made assumptions in relation to rental yields and estimated future achievable rents.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2025		2024
	£		£
Historic cost	2,379,700		2,379,700

4. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	306		372

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Other creditors	145,138		124,739

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	1,927,672		1,937,106

The bank loans are secured on the company's investment properties

7. Provision for liabilities

	2025		2024
	£		£
Deferred tax	140,825		126,075

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 126,075)		( 127,167)
(Charged)/credited to the Profit and Loss Account	( 14,750)		1,092
At the end of financial year	( 140,825)		( 126,075)

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
200 Ordinary shares of £ 1.00 each	200		200