France Down Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Purns Mill
Gillingham
Dorset
SP8 4HW

These financial statements were authorised for issue by the Board on 5 May 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and buildings	0 - 10 years straight line
Fixture and fittings	3 - 7 years straight line

France Down Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2026

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2025 - 3).

France Down Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2026

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2025	421,438	16,526	437,964
Additions	1,156	-	1,156
At 31 March 2026	422,594	16,526	439,120
Depreciation
At 1 April 2025	68,059	16,311	84,370
Charge for the year	1,589	130	1,719
At 31 March 2026	69,648	16,441	86,089
Carrying amount
At 31 March 2026	352,946	85	353,031
At 31 March 2025	353,379	215	353,594

Included within the net book value of land and buildings above is £352,946 (2025 - £353,378) in respect of freehold land and buildings.
 

5	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Current financial assets
Cost or valuation
At 1 April 2025	330,298	330,298
Fair value adjustments	28,744	28,744
Additions	402	402
At 31 March 2026	359,444	359,444
Impairment
Carrying amount
At 31 March 2026	359,444	359,444

France Down Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2026

6

Debtors

Current	2026 £	2025 £
Prepayments	2,113	2,156
Other debtors	622	2,319
	2,735	4,475

7

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Due within one year
Accruals and deferred income	4,442	5,056

8	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
A Ordinary shares of £1 each	9,400	9,400	9,400	9,400
B Ordinary shares of £1 each	13,750	13,750	13,750	13,750
	23,150	23,150	23,150	23,150

9	Parent and ultimate parent undertaking

The company's immediate parent is France Up Ltd, incorporated in England.