Fordton Properties Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Fordton Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10470613 . The registered office is 5-7, Station Road, Longfield, DA3 7QD.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Significant judgements and estimations

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable and other similar sales-based taxes. Turnover represents rental income earned from operating leases of owned or leased real estate, recognized on a straight-line basis over the lease term, alongside service charges and management fees.

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.5. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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

Page 3

Page 4

Fordton Properties Limited

Notes to the Financial Statements (continued)

For The Year Ended 25 April 2025

2.6. Foreign Currencies

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2.7. Taxation

Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. 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 current liabilities.

2.9. Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2.10. Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

2.11. Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.

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

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

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

Page 4

Page 5

Fordton Properties Limited

Notes to the Financial Statements (continued)

For The Year Ended 25 April 2025

4. Investment Property

	2025
	£
Fair Value
As at 27 April 2024	910,986
Additions	102,261
Revaluations	61,753

As at 25 April 2025	1,075,000

If investment property had been accounted for under historical cost accounting rules, the amounts would be:

	2025	2024
	£	£
Cost	847,001	744,740
Accumulated depreciation and impairment	18,220	14,612

Carrying amount	828,781	730,128

Investment property comprises of an amount of £1,075,000 (2024: £910,986) which a first charge over the underlying assets has been given to the lenders. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors at the year end.

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,316	-
Other debtors	21,588	53,452

	22,904	53,452

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	1	-
Bank loans and overdrafts	34,001	-
Other creditors	195,239	154,461

	229,241	154,461

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	662,158	662,158

Bank loans includes £662,158 (2024: £662,158) secured by way of a fixed first charge over the underlying assets.

Page 5

Page 6

Fordton Properties Limited

Notes to the Financial Statements (continued)

For The Year Ended 25 April 2025

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	20	20

9. Related Party Transactions

Included in Debtors is an amount for £34,455 owed by the following companies.The director, Mr T Appleton, is also the director and controlling party of the following Companies;

Libertas Proprieta Ltd : £30,000 (2024 - £30,000)

T Appleton Properties Ltd : £NIL (2024 - £6,340)

Cali Living Ltd : £4,425 (2024 - £4,425)

Property Discoveries Ltd : £30 (2024 - £30)

Included in Creditors ia an amount for £50,210 owed by the following company. The director, Mr T Appleton, is also the director and controlling party of the following company;

T Appleton Properties Limited : £50,210 (2024 - £NIL)

Page 6

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		1,075,000		910,986

			1,075,000		910,986
CURRENT ASSETS
Debtors	5	22,904		53,452
Cash at bank and in hand		62		894

		22,966		54,346
Creditors: Amounts Falling Due Within One Year	6	(229,241 )		(154,461 )

NET CURRENT ASSETS (LIABILITIES)			(206,275 )		(100,115 )

TOTAL ASSETS LESS CURRENT LIABILITIES			868,725		810,871

Creditors: Amounts Falling Due After More Than One Year	7		(662,158 )		(662,158 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(37,832 )		(31,586 )

NET ASSETS			168,735		117,127

CAPITAL AND RESERVES
Called up share capital	8		20		20
Revaluation reserve			190,167		89,191
Profit and Loss Account			(21,452 )		27,916

SHAREHOLDERS' FUNDS			168,735		117,127