Company No: 14120551 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Investment property	3	2,107,857		2,029,399
		2,107,857		2,029,399
Current assets
Debtors	4	30,494		58,396
Cash at bank and in hand		29,580		16,009
		60,074		74,405
Creditors: amounts falling due within one year	5	( 44,719)		( 44,749)
Net current assets		15,355		29,656
Total assets less current liabilities		2,123,212		2,059,055
Provision for liabilities	6	( 50,913)		( 35,913)
Net assets		2,072,299		2,023,142
Capital and reserves
Called-up share capital		1		1
Fair value reserve	7	149,866		104,866
Profit and loss account		1,922,432		1,918,275
Total shareholder's funds		2,072,299		2,023,142

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

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year 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; 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 Foulis Property Investments Ltd (registered number: 14120551) were approved and authorised for issue by the Board of Directors on 19 May 2026. They were signed on its behalf by:

C M D Haynes Director

J H C Haynes 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

Foulis Property Investments 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 Albert Goodman, Lupin Way, Yeovil, BA22 8WW, United Kingdom. The principal place of business is Foulis Property Investments Ltd, Sparkford, Yeovil, Somerset, BA22 7LH, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Rental income is recognised at the fair value of the consideration received for the period to which it relates. Rental income received in advance of the period to which it relates is recognised within deferred income in accruals and deferred income on the balance sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

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 directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		2

3. Investment property

	Investment property
	£
Valuation
As at 01 November 2024	2,029,399
Additions	18,458
Fair value movement	60,000
As at 31 October 2025	2,107,857

Valuation

The company's investment properties were revalued on 31 October 2025 by the directors on a current open market basis. There has been no valuation of investment property by an independent valuer.

4. Debtors

	2025		2024
	£		£
Trade debtors	23,813		54,367
Amounts owed by Group undertakings	952		952
Prepayments	5,729		3,077
	30,494		58,396

Amounts owed by Group undertakings are repayable on demand and do not bear interest.

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	676		2,811
Amounts owed to connected companies	15,548		4,651
Accruals and deferred income	26,663		37,195
Corporation tax	1,544		0
Other taxation and social security	288		92
	44,719		44,749

Amounts owed to connected companies are repayable on demand and do not bear interest.

6. Provision for liabilities

	2025		2024
	£		£
Deferred tax	50,913		35,913

7. Changes in equity

	Fair value reserve
	£
At 01 November 2024	104,866
Transfer of fair value revaluation from the profit and loss account	60,000
Transfer of deferred tax adjustments on fair value adjustments from the profit and loss account	( 15,000)
Total comprehensive income	45,000
At 31 October 2025	149,866
At 01 November 2023	104,866
At 31 October 2024	104,866

8. Related party transactions

Other related party transactions

The company has taken advantage of the exemptions provided from disclosing transactions with its parent on the grounds that it is a wholly owned subsidiary.

9. Ultimate controlling party

The company's immediate parent is Foulis Holdings Ltd, incorporated in England and Wales.

Its registered office address is Albert Goodman, Lupin Way, Yeovil, Somerset, United Kingdom, BA22 8WW.

These financial statements are available upon request from Companies House, Cardiff.