REGISTERED NUMBER: SC319690 (Scotland)

TULIPTREE LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N P Bertioli

Mrs S E Bertioli

SECRETARY:

Mrs S E Bertioli

REGISTERED OFFICE:

3 Clairmont Gardens

Glasgow

G3 7LW

REGISTERED NUMBER:

SC319690 (Scotland)

ACCOUNTANTS:

Benham Conway & Co

16 Royal Crescent

Glasgow

G3 7SL

FIXED ASSETS

Tangible assets

4

3,396

4,630

Investments

5

1,926,694

-

Investment property

6

4,787,387

4,787,387

6,717,477

4,792,017

CURRENT ASSETS

Debtors

7

12,468

11,860

Cash at bank

320,464

166,096

332,932

177,956

CREDITORS

Amounts falling due within one year

8

6,113,353

4,262,756

NET CURRENT LIABILITIES

(5,780,421

)

(4,084,800

)

TOTAL ASSETS LESS CURRENT LIABILITIES

937,056

707,217

PROVISIONS FOR LIABILITIES

124,201

101,915

NET ASSETS

812,855

605,302

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Fair value reserve

372,600

305,743

Retained earnings

439,255

298,559

SHAREHOLDERS' FUNDS

812,855

605,302

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 27 May 2026 and were signed on its behalf by:

N P Bertioli - Director

Mrs S E Bertioli - Director

1.	STATUTORY INFORMATION

Tuliptree Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and Straight line over 10 years

Investment property

Land and buildings are classified as investment property when the property is held to earn rentals or for capital appreciation or both. Investment property is initially measured at cost which comprises purchase price and any directly attributable expenditure, and subsequently remeasured to fair value at each reporting date with changes in fair value recognised in the Income Statement.

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.

Fixed asset investments

Fixed asset investments are initially measured at cost which comprises purchase price and any directly attributable expenditure, and subsequently remeasured to fair value at each reporting date with changes in fair value recognised in the Income Statement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2024

46,439

Additions

250

Disposals

(330

)

At 31 August 2025

46,359

DEPRECIATION

At 1 September 2024

41,809

Charge for year

1,484

Eliminated on disposal

(330

)

At 31 August 2025

42,963

NET BOOK VALUE

At 31 August 2025

3,396

At 31 August 2024

4,630

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

Additions

2,796,814

Disposals

(959,263

)

Revaluations

89,143

At 31 August 2025

1,926,694

NET BOOK VALUE

At 31 August 2025

1,926,694

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2024

and 31 August 2025

4,787,387

NET BOOK VALUE

At 31 August 2025

4,787,387

At 31 August 2024

4,787,387

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Trade debtors

2,452

2,444

Other debtors

10,016

9,416

12,468

11,860

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Directors' loan accounts

-

3,198,394

Taxation and social security

43,026

34,783

Other creditors

6,070,327

1,029,579

6,113,353

4,262,756

9.	RELATED PARTY DISCLOSURES

At 31 August 2024 the directors had provided the company with interest free loans of £3,198,394. There were no fixed repayment terms for these loans.

At 31 August 2025 certain shareholders had provided the company with loans of £6,051,478 (2024, £1,017,505). There was no interest paid on these loans in the current year or in the previous year. There are no fixed repayment terms for these loans which are included in other creditors.