Company No: 02034899 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	36,021		25,642
Investments	4	445,001		445,001
		481,022		470,643
Current assets
Stocks	5	22,782,498		21,927,137
Debtors
- due within one year	6	8,205,029		8,100,758
- due after more than one year	6	791,691		856,741
Cash at bank and in hand		3,240,207		3,307,736
		35,019,425		34,192,372
Creditors: amounts falling due within one year	7	( 9,265,114)		( 11,218,944)
Net current assets		25,754,311		22,973,428
Total assets less current liabilities		26,235,333		23,444,071
Creditors: amounts falling due after more than one year	8	( 20,909,248)		( 18,197,219)
Net assets		5,326,085		5,246,852
Capital and reserves
Called-up share capital	9	1,000		1,000
Profit and loss account		5,325,085		5,245,852
Total shareholders' funds		5,326,085		5,246,852

For the financial year ending 31 January 2026 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 Allan Properties Limited (registered number: 02034899) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

T R A Allan Director

08 June 2026

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

Allan 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 99 Heath Street, London, NW3 6SS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 and comprises revenue recognised from the sale of residential properties.

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

Other operating income comprises management fees and rental income and is recognised at the fair value of the consideration received or receivable for rents and management services provided in the normal course of business.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

25 % 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

The company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company's net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company's net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

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.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated based on the original cost of purchase of individual properties. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention 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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	8		9

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 February 2025	135,363		135,363
Additions	45,500		45,500
Disposals	( 79,819)		( 79,819)
At 31 January 2026	101,044		101,044
Accumulated depreciation
At 01 February 2025	109,721		109,721
Charge for the financial year	14,426		14,426
Disposals	( 59,124)		( 59,124)
At 31 January 2026	65,023		65,023
Net book value
At 31 January 2026	36,021		36,021
At 31 January 2025	25,642		25,642

4. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 February 2025	630,503		630,503
At 31 January 2026	630,503		630,503
Provisions for impairment
At 01 February 2025	185,502		185,502
At 31 January 2026	185,502		185,502
Carrying value at 31 January 2026	445,001		445,001
Carrying value at 31 January 2025	445,001		445,001

5. Stocks

	2026		2025
	£		£
Finished goods	22,782,498		21,927,137

6. Debtors

	2026		2025
	£		£
Debtors: amounts falling due within one year
Trade debtors	70,513		80,550
Amounts owed by group undertakings	6,185,322		5,904,191
Other debtors	1,949,194		2,116,017
	8,205,029		8,100,758
Debtors: amounts falling due after more than one year
Amounts owed by associates	791,691		856,741

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Taxation and social security	23,955		105,088
Other creditors	9,241,159		11,113,856
	9,265,114		11,218,944

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

	2026		2025
	£		£
Bank loans (secured)	20,909,248		18,197,219

The bank loans are secured against certain assets owned by the company. Additionally, some of the bank loans are secured by personal guarantees provided by the directors' over assets they hold.

9. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
100,000 Ordinary shares of £ 0.01 each	1,000		1,000

10. Financial commitments

Commitments

	2026		2025
	£		£
Total future minimum lease payments under non-cancellable operating leases	67,334		26,650

11. Related party transactions

Transactions with owners holding a participating interest in the entity

	2026		2025
	£		£
Amounts owed by a company with significant influence over Allan Properties Limited	2,812,101		2,756,570

Transactions with entities in which the entity itself has a participating interest

	2026		2025
	£		£
Amounts owed by companies in which Allan Properties Limited holds significant interest	1,284,553		1,363,843
Amounts owed by a wholly-owned subsidiaries of the company	3,373,121		3,147,521
Interest receivable from a company in which Allan Properties Limited holds significant interest	51,109		53,044
Management fees receivable from a company in which Allan Properties Limited holds significant interest	2,500		2,500
Rent payable to a wholly-owned subsidiary of the company	14,400		14,400
Interest receivable from a company with significant influence over Allan Properties Limited	50,000		0

Transactions with the entity's directors

	2026		2025
	£		£
Amounts owed to the entity's directors	7,144,546		9,503,476
Interest payable on the balance on loans due to directors	335,086		553,508

Other related party transactions

	2026		2025
	£		£
Amounts owed to a company with common directors' and shareholders	1,041,597		1,002,697
Amounts owed by a company with common directors' and shareholders	87,500		87,500

12. Ultimate controlling party

The company is controlled by T R A Allan by virtue of his ownership of more than 75% of issued share capital.