Company No: 09455894 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	5,549		6,937
Investment property	4	5,406,646		3,836,660
		5,412,195		3,843,597
Current assets
Debtors	5	613,960		613,960
Cash at bank and in hand		32,932		36,035
		646,892		649,995
Creditors: amounts falling due within one year	6	( 24,064)		( 39,006)
Net current assets		622,828		610,989
Total assets less current liabilities		6,035,023		4,454,586
Creditors: amounts falling due after more than one year	7	( 2,891,522)		( 3,001,522)
Provision for liabilities		( 456,838)		( 62,893)
Net assets		2,686,663		1,390,171
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account	10	2,686,563		1,390,071
Total shareholder's funds		2,686,663		1,390,171

For the financial year ending 31 March 2026 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Fraser James Properties Limited (registered number: 09455894) were approved and authorised for issue by the Board of Directors on 28 May 2026. They were signed on its behalf by:

A J F Davies 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

Fraser James Properties Limited (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 20 Richmond Hill, Clifton, Bristol, BS8 1BA, 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 £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

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 Statement of Financial Position date.

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 average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line/reducing balance] basis over its expected useful life, as follows:

Plant and machinery	20 % reducing balance
Vehicles	20 % reducing balance
Fixtures and fittings	20 % reducing balance
Computer equipment	20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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.

Ordinary share capital

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

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 April 2025	5,270		9,000		280		873		15,423
At 31 March 2026	5,270		9,000		280		873		15,423
Accumulated depreciation
At 01 April 2025	2,801		4,930		186		569		8,486
Charge for the financial year	494		814		19		61		1,388
At 31 March 2026	3,295		5,744		205		630		9,874
Net book value
At 31 March 2026	1,975		3,256		75		243		5,549
At 31 March 2025	2,469		4,070		94		304		6,937

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2025	3,836,660
Fair value movement	1,569,986
As at 31 March 2026	5,406,646

Valuation

The investment properties were valued by the directors at the year end on an open market and existing use basis.

5. Debtors

	2026		2025
	£		£
Other debtors	613,960		613,960

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Amounts owed to directors	( 20,908)		0
Accruals	2,400		2,250
Taxation and social security	42,442		36,470
Other creditors	130		286
	24,064		39,006

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

	2026		2025
	£		£
Amounts owed to directors	2,891,522		3,001,522

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

9. Related party transactions

Transactions with the entity's directors

	2026		2025
	£		£
Amounts owed to the directors at the year end	2,765,614		3,001,522
Amounts owed from companies under common control	508,960		613,960

10. Reserves

Included in the profit and loss account are non-distributable reserves of £1,596,897 (2025: £421,167) representing the cumulative fair value movements of the Investment property, net of deferred tax. The remaining amount is distributable.