Company No: 11772930 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Investment property	3	2,162,281		2,162,281
Investments	4	119,980		81,978
		2,282,261		2,244,259
Current assets
Debtors	5	433,610		106,641
Cash at bank and in hand		230,232		159,139
		663,842		265,780
Creditors: amounts falling due within one year	6	( 170,277)		( 81,865)
Net current assets		493,565		183,915
Total assets less current liabilities		2,775,826		2,428,174
Provision for liabilities		( 79,605)		( 78,392)
Net assets		2,696,221		2,349,782
Capital and reserves
Called-up share capital	7	100		100
Revaluation reserve		255,518		251,879
Profit and loss account		2,440,603		2,097,803
Total shareholders' funds		2,696,221		2,349,782

For the financial year ending 30 November 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 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 W G Russell Estates Limited (registered number: 11772930) were approved and authorised for issue by the Board of Directors on 19 May 2026. They were signed on its behalf by:

D J Martin 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

W G Russell Estates 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 C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is 1204 Metis, 1 Scotland Street, Sheffield, South Yorkshire, S3 7AT.

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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

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.

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	0		0

3. Investment property

	Investment property
	£
Valuation
As at 01 December 2024	2,162,281
As at 30 November 2025	2,162,281

The directors have assessed the value of the properties and are happy that the value used in these financial statements are a fair reflection of the current market value.

4. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 December 2024	300
At 30 November 2025	300
Carrying value at 30 November 2025	300
Carrying value at 30 November 2024	300

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 December 2024	81,678		81,678
Additions	83,223		83,223
Disposals	( 52,330)		( 52,330)
Movement in fair value	7,109		7,109
At 30 November 2025	119,680		119,680
Carrying value at 30 November 2025	119,680		119,680
Carrying value at 30 November 2024	81,678		81,678

5. Debtors

	2025		2024
	£		£
Amounts owed by Group undertakings	432,221		106,151
Other debtors	1,389		490
	433,610		106,641

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Amounts owed to Group undertakings	100		100
Taxation and social security	22,428		16,539
Other creditors	147,749		65,226
	170,277		81,865

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100