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.

At at the year end, the company's balance sheet shows net current liabilities and an overall deficiency of assets amounting to £4,093 (2024 £16,390). Accordingly, the director has had to consider the basis upon which the accounts should be prepared and determine whther a going concern basis remains appropriate. The accounts have been prepared on a going concern basis as the parent company continues to provide financial support when necessary to the company.

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.