For the financial year ended 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question 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.

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 profit and loss account within the financial statements.true

Finer Limited is a private company limited by shares incorporated in England and Wales. The registered office is 35A High Street, Ruislip, Middlesex, England, HA4 7AU.

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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation. Rental income is recognised on accrual basis.

The company recognises revenue from the following major sources:

• Renting out investment properties

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

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.

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.

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.

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 profit and loss account 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 carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

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

Investment property is initially measured at cost and is subsequently reflected at fair value as at year end. The fair value of investment property is based on the director's assessment as of 31 October 2025 of current market conditions, location & class of property and relevant yields.

Fair value at 31 October 2025 is represented by:

£

Cost 16,884,479

Valuation in 2016 2,938,963

Valuation in 2018 (1,906,149)

Valuation in 2020 2,882,645

Valuation in 2021 300,000

Valuation in 2022 (Note 8) 298,738

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Fair value at 31 October 2025 21,398,676

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The loan is secured over the company's investment properties.

The comparative figures for the year ended 31 October 2024 have been restated to reflect changes identified following a review of the prior years' financial statements:

• Deferred tax restatement – Primarily related to the year ended 31 October 2018, this correction revises the deferred tax position resulting from the revaluation of investment property. The deferred tax liability has been recomputed & restated using the substantively enacted corporation tax rate of 19%, producing a liability of £857,697 based on the revaluation of the investment property of £4,514,197. This change leads to a £1,173,589 decrease in retained earnings and a corresponding £857,697 increase in deferred tax liability.

• Fair value restatement – As detailed in note 4 (page 5 of the accounts), a revision to the loss recognised on disposal of an investment property for the year ended 31 October 2022 has resulted in restatement of £298,738. The loss on disposal is now determined by reference to the carrying amount of the property immediately prior to disposal, reflecting its fair value in accordance with FRS 102, rather than its historical cost. This restatement is reflected through a £209,000 reduction in the carrying amount of the investment property and an £89,738 decrease in retained earnings, with the total amount recognised against the revaluation of investment property.

• Corporation tax creditor restatement – Corporation tax liability of £33,612 that was omitted from the year ended 31 October 2023 has now been recorded, reducing retained earnings and increasing corporation tax payable due within one year.

• Revaluation reserve reclassification – An amount of £300,000 previously classified as revaluation reserve has been reversed to retained earnings to comply with FRS 102, as no revaluation reserve should be recognised in respect of investment properties measured at fair value.

All changes arising from the above restatements have been duly reflected in the comparative figures and opening reserves. For the avoidance of doubt, there is no impact on the current year's profit or loss account.

The directors, together with family members, control the company by virtue of a controlling interest of 100% (directly or indirectly) of the issued ordinary share capital.