Company No: 15219862 (England and Wales)

Contents

• Company Information
• Accountants' Report
• Balance Sheet
• Notes to the Financial Statements

Directors	S R Butler
	B G Butler

Registered office	2 Keats Way
	Chichester
	PO19 7BA
	United Kingdom

Company number

15219862 (England and Wales)

Accountant	Kreston Reeves LLP
	9 Donnington Park
	85 Birdham Road
	Chichester
	West Sussex
	PO20 7AJ

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Butler Group Properties Ltd for the financial year ended 31 October 2025 which comprise the Balance Sheet and the related notes 1 to 8 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

This report is made solely to the Board of Directors of Butler Group Properties Ltd, as a body, in accordance with the terms of our engagement letter dated 21 November 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Butler Group Properties Ltd and state those matters that we have agreed to state to the Board of Directors of Butler Group Properties Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Butler Group Properties Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Butler Group Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Butler Group Properties Ltd. You consider that Butler Group Properties Ltd is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Butler Group Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Kreston Reeves LLP

9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ

09 June 2026

	Note	31.10.2025		31.10.2024
		£		£
Fixed assets
Tangible assets	3	15,352		17,643
Investment property	4	1,600,793		1,577,626
		1,616,145		1,595,269
Current assets
Debtors	5	19,898		60,062
Cash at bank and in hand		46,226		9,223
		66,124		69,285
Creditors: amounts falling due within one year	6	( 817,545)		( 790,452)
Net current liabilities		(751,421)		(721,167)
Total assets less current liabilities		864,724		874,102
Creditors: amounts falling due after more than one year	7	( 922,650)		( 922,650)
Net liabilities		( 57,926)		( 48,548)
Capital and reserves
Called-up share capital		2		2
Profit and loss account		( 57,928 )		( 48,550 )
Total shareholders' deficit		( 57,926)		( 48,548)

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 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 Profit and Loss Account has not been delivered.

The financial statements of Butler Group Properties Ltd (registered number: 15219862) were approved and authorised for issue by the Board of Directors on 09 June 2026. They were signed on its behalf by:

S R Butler 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 period, unless otherwise stated.

General information and basis of accounting

Butler Group Properties 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 2 Keats Way, Chichester, PO19 7BA, 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 whole pound (£).

Going concern

The directors have assessed the Balance Sheet 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 stated net of VAT and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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.

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 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 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:

Fixtures and fittings

3 years straight line

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account 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.

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.

2. Employees

	Year ended 31.10.2025		Period from 18.10.2023 to 31.10.2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Fixtures and fittings		Total
	£		£
Cost
At 01 November 2024	21,990		21,990
Additions	5,720		5,720
At 31 October 2025	27,710		27,710
Accumulated depreciation
At 01 November 2024	4,347		4,347
Charge for the financial year	8,011		8,011
At 31 October 2025	12,358		12,358
Net book value
At 31 October 2025	15,352		15,352
At 31 October 2024	17,643		17,643

4. Investment property

	Investment property
	£
Valuation
As at 01 November 2024	1,577,626
Additions	23,167
As at 31 October 2025	1,600,793

5. Debtors

	31.10.2025		31.10.2024
	£		£
Deferred tax asset	19,087		16,118
Other debtors	811		43,944
	19,898		60,062

6. Creditors: amounts falling due within one year

	31.10.2025		31.10.2024
	£		£
Trade creditors	4,136		3,226
Other taxation and social security	4,738		0
Other creditors	808,671		787,226
	817,545		790,452

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

	31.10.2025		31.10.2024
	£		£
Other loans (secured)	922,650		922,650

Castle Trust Capital PLC hold a legal charge dated 30 January 2024 over the investment property held by the Company.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	31.10.2025		31.10.2024
	£		£
Other loans (secured)	922,650		922,650

8. Related party transactions

Transactions with the entity's directors

	31.10.2025		31.10.2024
	£		£
S R Butler	798,277		785,277
B G Butler	199		199

During the year, S R Butler continued to provide the Company with an unsecured interest-free loan that is repayable on demand. During the year this loan increased by £13,000. At the balance sheet date the amount due to the director was £798,277.

During the year, B G Butler continued to provide the Company with an unsecured interest-free loan that is repayable on demand. During the year there was no movement on this loan. At the balance sheet date the amount due to the director was £199.

Other related party transactions

	31.10.2025		31.10.2024
	£		£
The Butler Collection Limited	3,450		0

During the year commission of £23,518 (2025 - £9,379) was paid to The Butler Collection Limited, a company under common control. Butler Collection Limited also provided an interest-free loan to the Company of £3,450 (2025 - £nil). The amount owed to The Butler Collection Limited at the balance sheet date was £3,450.