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REGISTERED NUMBER: 02507308 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

SPRINGHILL ENTERPRISES LIMITED

SPRINGHILL ENTERPRISES LIMITED (REGISTERED NUMBER: 02507308) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| SPRINGHILL ENTERPRISES LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTORS: | Mr R A A Coates

| Mrs J C Coates

| SECRETARY: | Mrs J C Coates

| REGISTERED OFFICE: | Alderley

| 21 Lambridge Wood Road

| Henley on Thames

| Oxfordshire

| RG9 3BP

| REGISTERED NUMBER: | 02507308 (England and Wales)

| ACCOUNTANTS: | Bronsens

| Chartered Certified Accountants

| Hillside

| Albion Street

| Chipping Norton

| Oxfordshire

| OX7 5BH

SPRINGHILL ENTERPRISES LIMITED (REGISTERED NUMBER: 02507308) |

BALANCE SHEET

31 DECEMBER 2025

| 31.12.25 | 31.12.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 36 |  | 49 |  |

Investment property | 5 | 220,000 |  | 220,000 |  |

220,036 |  | 220,049 |  |

CURRENT ASSETS

Debtors | 6 | 1,682,901 |  | 1,710,236 |  |

Investments | 7 | 3,338,660 |  | 3,096,097 |  |

Cash at bank | 177,198 |  | 197,607 |  |

5,198,759 |  | 5,003,940 |  |

CREDITORS

Amounts falling due within one year | 8 | 28,881 |  | 57,224 |  |

NET CURRENT ASSETS | 5,169,878 |  | 4,946,716 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 5,389,914 |  | 5,166,765 |  |

PROVISIONS FOR LIABILITIES | 9 | 220,311 |  | 220,311 |  |

NET ASSETS | 5,169,603 |  | 4,946,454 |  |

CAPITAL AND RESERVES

Called up share capital | 10 | 3,634,151 |  | 3,634,151 |  |

Retained earnings | 11 | 1,535,452 |  | 1,312,303 |  |

SHAREHOLDERS' FUNDS | 5,169,603 |  | 4,946,454 |  |

SPRINGHILL ENTERPRISES LIMITED (REGISTERED NUMBER: 02507308) |

BALANCE SHEET - continued

31 DECEMBER 2025

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2026 and were signed on its behalf by:

Mr R A A Coates - Director

SPRINGHILL ENTERPRISES LIMITED (REGISTERED NUMBER: 02507308) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Springhill Enterprises Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Preparation of consolidated financial statements

| The financial statements contain information about Springhill Enterprises Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

| Turnover

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

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Fixtures and fittings | - | 25% on reducing balance

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

SPRINGHILL ENTERPRISES LIMITED (REGISTERED NUMBER: 02507308) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Investments

| Fixed asset investments are stated at cost less provision for diminution in value.

| Current asset investments are stated at market value.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2024 - 2 ) .

4. | TANGIBLE FIXED ASSETS

| Fixtures

| and

| fittings

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 863 |  |

| DEPRECIATION

| At 1 January 2025 | 814 |  |

| Charge for year | 13 |  |

| At 31 December 2025 | 827 |  |

| NET BOOK VALUE

| At 31 December 2025 | 36 |  |

| At 31 December 2024 | 49 |  |

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 January 2025

| and 31 December 2025 | 220,000 |  |

| NET BOOK VALUE

| At 31 December 2025 | 220,000 |  |

| At 31 December 2024 | 220,000 |  |

| The E and F shareholders in the holding company Springhill Rural Enterprises Limited are entitled to the capital and income from this investment property.

SPRINGHILL ENTERPRISES LIMITED (REGISTERED NUMBER: 02507308) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

5. | INVESTMENT PROPERTY - continued

| Fair value at 31 December 2025 is represented by:

£ |

| Valuation in 2023 | (60,000 | ) |

| Cost | 280,000 |  |

220,000 |  |

| If the property had not been revalued it would have been included at the following historical cost:

| 31.12.25 |  | 31.12.24

£ | £ |

| Cost | 280,000 |  | 280,000 |  |

| Investment property was valued on an open market basis on 14 June 2023 by Stratton Creber Estate Agents .

| The open market valuation is considered to be representative of fair value.

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.25 |  | 31.12.24

£ | £ |

| Trade debtors | - |  | 191 |  |

| Other debtors | 726 |  | 734 |  |

| Loan to parent company | 1,682,175 |  | 1,610,175 |  |

| Directors' current accounts | - |  | 99,136 |  |

1,682,901 |  | 1,710,236 |  |

| During 1994 the company entered into a hive-down agreement with its parent company, resulting in the transfer of certain assets. The amount due in respect of this agreement is £946,225 and is included in "Loan to parent company".

| During 2011 the company loaned £420,000 to its parent company in order to fund a buy back of shares by the parent.

| A further £315,950 of working capital has been loaned to its parent company since that date.

7. | CURRENT ASSET INVESTMENTS

| 31.12.25 |  | 31.12.24

£ | £ |

| Listed investments | 3,338,660 |  | 3,096,097 |  |

| Market value of listed investments at 31 December 2025 - £ 3,338,660 (2024 - £ 3,096,097 ).

| The listed investments consist of two Rathbones portfolios, shares in Fundsmith and shares in Clipstone.

| The E and F shareholders in the parent company Springhill Rural Enterprises Limited are entitled to the income and capital from the Rathbones B portfolio.

SPRINGHILL ENTERPRISES LIMITED (REGISTERED NUMBER: 02507308) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.25 |  | 31.12.24

£ | £ |

| Tax | 17,768 |  | 42,860 |  |

| VAT | 900 |  | 914 |  |

| Dunthrop Farms Ltd | - |  | 313 |  |

| Directors' current accounts | 408 |  | - |  |

| Rents received in advance | 4,500 |  | 4,500 |  |

| Accruals | 5,305 |  | 8,637 |  |

28,881 |  | 57,224 |  |

9. | PROVISIONS FOR LIABILITIES

| 31.12.25 |  | 31.12.24

£ | £ |

| Deferred tax

| Tax losses carried forward | (52,689 | ) | (52,689 | ) |

| Other timing differences | 273,000 |  | 273,000 |  |

220,311 |  | 220,311 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 220,311 |  |

| Balance at 31 December 2025 | 220,311 |  |

10. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.12.25 |  | 31.12.24

| value: | £ | £ |

| 3,634,151 | Ordinary | £1 | 3,634,151 |  | 3,634,151 |  |

11. | RESERVES

| Retained

| earnings

£ |

| At 1 January 2025 | 1,312,303 |  |

| Profit for the year | 223,149 |  |

| At 31 December 2025 | 1,535,452 |  |

SPRINGHILL ENTERPRISES LIMITED (REGISTERED NUMBER: 02507308) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31 December 2025 and 31 December 2024:

| 31.12.25 |  | 31.12.24

£ | £ |

| Mr R A A Coates

| Balance outstanding at start of year | 99,136 |  | (432 | ) |

| Amounts advanced | 1,200 |  | 200,000 |  |

| Amounts repaid | (100,432 | ) | (100,432 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | (96 | ) | 99,136 |  |

| The directors loan was repaid by the directors in June 2025. Interest of £3,480 was also paid to the company.

13. | RELATED PARTY DISCLOSURES

| Springhill Enterprises Ltd and Springhill Rural Enterprises Ltd are group companies and related parties. Dunthrop Farm Ltd is under common control and is also a related party.

| At 31 December 2025, £1,682,175 (2024 - £1,610,175) was due from Springhill Rural Enterprises Ltd.

| During the year the company charged Dunthrop Farms Ltd £Nil (2024 - £480) for management fees. At 31 December 2025 £Nil (2024 - £Nil) was due from Dunthrop Farms Ltd.

14. | ULTIMATE PARENT COMPANY

| The company is a wholly owned subsidiary of Springhill Rural Enterprises Ltd a company registered in England and Wales.