These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

Upward (Property Estates) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bloxwich Hall, Elmore Court, Elmore Green Road, Bloxwich, West Midlands, England, WS3 2QW.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income is recognised when the risks and rewards of ownership have been transferred to tenants. This is taken to be rents invoiced in respect of dates of occupation of each property under the terms of the lease.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Investment in subsidiary undertakings are recognised at cost.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The average monthly number of persons (including directors) employed by the company during the year was:

The investment properties have been valued on an open market basis by the directors.

The investment properties are valued by directors on an open market basis. Periodically and when deemed necessary they will obtain external valuations prepared by Chartered Surveyors.

The following secured debts are included within creditors:

The company has a fixed and floating charge over its assets in favour of Lloyds Bank plc.

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

The deferred tax liability set out above is expected to reverse within [12 months] and relates to accelerated capital allowances that are expected to mature within the same period.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 30 September 2025 and of its profit for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Sivic Investments Limited

A company in which S M Griffiths is a director

During the year consultancy fees of £13,200 (2024: £13,200) were paid to Sivic Investments Limited.

The amount due by the related party at the balance sheet date was £8,000 (2024 - £8,000).

Upward Developments (West Midlands) Limited

A company under common control

During the year the company was recharged for building development work amounting to £7196,408 (2024: £139,764) by Upward Developments (West Midlands) Limited.

The amount due to the related party at the balance sheet date was £77,422 (2024: £138,877).

Upward Housing C.I.C.

A company under common control

During the year the company received rent of £1,981,339 (2024: £1,734,525) from Upward Housing C.I.C. The company also paid property management fees of £158,334 (2024 - £164,047) to Upward Housing C.I.C.

The amount due from the related party at the balance sheet date was £153,575 (2024: £17,682).

The company is a subsidiary of Upward Enterprises Limited, a company with a principal place of business at Bloxwich Hall, Elmore Court, Elmore Green Road, Bloxwich, WS3 2QW.