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Registrar

Registration number: 10279299

FSE Property Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2026

FSE Property Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 6

FSE Property Limited

Company Information

Directors | R Oxborough H J Bisset DG Bisset

Registered office | 11 Swinbourne Drive Springwood Industrial Estate Braintree Essex CM7 2YP

Solicitors | Gisby Harrison Solicitors Goffs Oak House Goffs Lane Goffs Oak Herts EN7 5HG

Accountants | Lambert Chapman LLP Chartered accountants 3 Warners Mill Silks Way Braintree Essex CM7 3GB

FSE Property Limited

(Registration number: 10279299)
Balance Sheet as at 31 March 2026

| Note | 2026 £ | 2025 £
Fixed assets |  |  |
Investment property | 4 | 3,000,000 | 2,800,000
Current assets |  |  |
Debtors | 5 | 8,325 | -
Cash at bank and in hand |  | 8,332 | 496
|  | 16,657 | 496
Creditors: Amounts falling due within one year | 6 | (900,740) | (1,182,647)
Net current liabilities |  | (884,083) | (1,182,151)
Total assets less current liabilities |  | 2,115,917 | 1,617,849
Creditors: Amounts falling due after more than one year | 6 | (909,011) | (513,090)
Provisions for liabilities |  | (286,160) | (282,395)
Net assets |  | 920,746 | 822,364
Capital and reserves |  |  |
Called up share capital | 7 | 10,000 | 10,000
Retained earnings |  | 910,746 | 812,364
Shareholders' funds |  | 920,746 | 822,364

For the financial year ended 31 March 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 July 2026 and signed on its behalf by:

H J Bisset Director |  |

FSE Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1 | General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office and the principal place of business is: 11 Swinbourne Drive, Springwood Industrial Estate, Braintree, Essex, CM7 2YP.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.
These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for property rental in the ordinary course of the company’s activities. Turnover is shown net of value added tax.
The company recognises revenue when:
• the amount of revenue can be reliably measured;
• it is probable that future economic benefits will flow to the entity;

Tax

Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

FSE Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers or the directors opinion. Both the valuers and directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for rent receivable in the ordinary course of business.

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2025 - 3).

No members of staff are employed directly through FSE Property Limited and staff costs are recharged through management charges by other group members.

4 | Investment properties

| 2026 £
At 1 April 2025 | 2,800,000
Fair value adjustments | 200,000
At 31 March 2026 | 3,000,000

FSE Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

An independent valuation of the property was undertaken by Kemsley LLP on 23 June 2025, which assessed the market value of the property at £3,225,000.
The directors have considered the external valuation together with their own assessment of the property and the prevailing market conditions at the reporting date. In exercising their judgement, the directors have adopted a prudent approach and have recognised the investment property at a fair value of £3,000,000, which they consider represents an appropriate estimate of fair value at the balance sheet date.

5 | Debtors

| 2026 £ | 2025 £
Prepayments | 8,325 | -
| 8,325 | -

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2026 £ | 2025 £
Due within one year |  |  |
Loans and borrowings | 8 | 67,334 | 33,897
Amounts owed to group undertakings |  | 810,009 | 1,125,124
Taxation and social security |  | 7,564 | 7,793
Accruals and deferred income |  | 15,833 | 15,833
|  | 900,740 | 1,182,647

Included within Creditors are balances owed to Group Undertakings, whilst these amounts are due on demand it is unlikely they will be repaid in full during the coming year.

Creditors due within one year include bank loans which are secured of £67,334 (2025 - £33,897).

Creditors: amounts falling due after more than one year

| Note | 2026 £ | 2025 £
Due after one year |  |  |
Loans and borrowings | 8 | 909,011 | 513,090

Creditors due after one year include bank loans which are secured of £909,011 (2025 - £513,090).

FSE Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

7 | Share capital

Allotted, called up and fully paid shares

| 2026 | 2025
| No. | £ | No. | £
Ordinary shares of £1 each | 10,000 | 10,000 | 10,000 | 10,000

8 | Loans and borrowings

Current loans and borrowings

| 2026 £ | 2025 £
Bank borrowings | 67,334 | 33,897

Non-current loans and borrowings

| 2026 £ | 2025 £
Bank borrowings | 909,011 | 513,090

9 | Parent and ultimate parent undertaking

The company's immediate parent is Finch Seaman Enfield Group Limited, incorporated in England and Wales.
The ultimate parent is Bisset Holdings Limited, incorporated in England and Wales.
The most senior parent entity producing publicly available financial statements is Bisset Holdings Limited. These financial statements are available upon request from Old Station Road, Loughton, Essex, United Kingdom, IG10 4PL.