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REGISTERED NUMBER: SC162671 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025

FOR

CHERRYTREES DEVELOPMENT COMPANY LIMITED

CHERRYTREES DEVELOPMENT COMPANY LIMITED (REGISTERED NUMBER: SC162671) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

Page |

| Company Information | 1 |

| Chartered Accountants' Report | 2 |

| Balance Sheet | 3 |

| Notes to the Financial Statements | 5 |

| CHERRYTREES DEVELOPMENT COMPANY LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 30 NOVEMBER 2025

| DIRECTORS: | Mrs P Devereux

| E J H Devereux

| Mrs S L J Docherty

| SECRETARY: | K D Brydon

| REGISTERED OFFICE: | 11 Gordon Street

| Broughty Ferry

| Dundee

| DD5 2RA

| REGISTERED NUMBER: | SC162671 (Scotland)

| ACCOUNTANTS: | J.H. Greenwood & Company

| Chartered Accountants

| Ava Lodge

| Castle Terrace

| Berwick Upon Tweed

| Northumberland

| TD15 1NP

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS

ON THE UNAUDITED FINANCIAL STATEMENTS OF

CHERRYTREES DEVELOPMENT COMPANY LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cherrytrees Development Company Limited for the year ended 30 November 2025 which comprise the Profit and Loss, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Cherrytrees Development Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cherrytrees Development Company Limited and state those matters that we have agreed to state to the Board of Directors of Cherrytrees Development Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cherrytrees Development Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Cherrytrees Development Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Cherrytrees Development Company Limited. You consider that Cherrytrees Development Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cherrytrees Development Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

J.H. Greenwood & Company

Chartered Accountants

Ava Lodge

Castle Terrace

Berwick Upon Tweed

Northumberland

TD15 1NP

24 July 2026

CHERRYTREES DEVELOPMENT COMPANY LIMITED (REGISTERED NUMBER: SC162671) |

BALANCE SHEET

30 NOVEMBER 2025

| 30/11/25 | 30/11/24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investments | 4 | 582,303 |  | - |  |

Investment property | 5 | 979,914 |  | 2,229,914 |  |

1,562,217 |  | 2,229,914 |  |

CURRENT ASSETS

Stocks | 6 | - |  | 2,204 |  |

Debtors | 7 | 351,978 |  | 113,036 |  |

Cash at bank | 217,454 |  | 27,869 |  |

569,432 |  | 143,109 |  |

CREDITORS

Amounts falling due within one year | 8 | 460,552 |  | 122,595 |  |

NET CURRENT ASSETS | 108,880 |  | 20,514 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,671,097 |  | 2,250,428 |  |

CREDITORS

Amounts falling due after more than one year | 9 | - |  | 543,046 |  |

NET ASSETS | 1,671,097 |  | 1,707,382 |  |

CAPITAL AND RESERVES

Called up share capital | 500,000 |  | 500,000 |  |

Fair value reserve | 10 | (144,011 | ) | (144,011 | ) |

Retained earnings | 1,315,108 |  | 1,351,393 |  |

SHAREHOLDERS' FUNDS | 1,671,097 |  | 1,707,382 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

CHERRYTREES DEVELOPMENT COMPANY LIMITED (REGISTERED NUMBER: SC162671) |

BALANCE SHEET - continued

30 NOVEMBER 2025

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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2026 and were signed on its behalf by:

E J H Devereux - Director

CHERRYTREES DEVELOPMENT COMPANY LIMITED (REGISTERED NUMBER: SC162671) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

1. | STATUTORY INFORMATION

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

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.

| Turnover

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

| 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.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Taxation

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

| Current or deferred taxation assets and liabilities are not discounted.

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 3 (2024 - 3 ) .

CHERRYTREES DEVELOPMENT COMPANY LIMITED (REGISTERED NUMBER: SC162671) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

4. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST

| Additions | 582,303 |  |

| At 30 November 2025 | 582,303 |  |

| NET BOOK VALUE

| At 30 November 2025 | 582,303 |  |

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 December 2024 | 2,229,914 |  |

| Disposals | (1,232,121 | ) |

| Revaluations | (17,879 | ) |

| At 30 November 2025 | 979,914 |  |

| NET BOOK VALUE

| At 30 November 2025 | 979,914 |  |

| At 30 November 2024 | 2,229,914 |  |

| Fair value at 30 November 2025 is represented by:

£ |

| Valuation in 2015 | (304,525 | ) |

| Valuation in 2016 | (10,100 | ) |

| Valuation in 2017 | 24,100 |  |

| Valuation in 2018 | (7,500 | ) |

| Valuation in 2019 | (655 | ) |

| Valuation in 2020 | (145,521 | ) |

| Valuation in 2023 | (23,810 | ) |

| Valuation in 2024 | 324,000 |  |

| Valuation in 2025 | (1,250,000 | ) |

| Cost | 2,373,925 |  |

979,914 |  |

| No valuation of the properties was carried out at 30th November 2025 as it was considered that the valuation of these properties has not changed from the valuation carried out at 30th November 2024. 8 Melville Street was sold on 16th April 2025 for £1,250,000 therefore the valuation of the properties has been reduced by this amount. Had all the properties been valued at cost under the historical cost accounting rules they would be valued at £2,373,925. The overall surplus over cost has been transferred to the fair value reserve. The provision for potential taxation which would arise if the properties were sold at their valuations has been provided in the deferred tax provision.

CHERRYTREES DEVELOPMENT COMPANY LIMITED (REGISTERED NUMBER: SC162671) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

6. | STOCKS

| 30/11/25 |  | 30/11/24

£ | £ |

| Payments on account | - |  | 2,204 |  |

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

| 30/11/25 |  | 30/11/24

£ | £ |

| Trade debtors | 4,585 |  | 6,710 |  |

| Other debtors | 347,393 |  | 106,326 |  |

351,978 |  | 113,036 |  |

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

| 30/11/25 |  | 30/11/24

£ | £ |

| Payments on account | 3,442 |  | - |  |

| Trade creditors | 1,200 |  | 24 |  |

| Taxation and social security | 38,922 |  | 17,946 |  |

| Other creditors | 416,988 |  | 104,625 |  |

460,552 |  | 122,595 |  |

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 30/11/25 |  | 30/11/24

£ | £ |

| Other creditors | - |  | 543,046 |  |

10. | RESERVES

| Fair

| value

| reserve

£ |

| At 1 December 2024

| and 30 November 2025 | (144,011 | ) |

CHERRYTREES DEVELOPMENT COMPANY LIMITED (REGISTERED NUMBER: SC162671) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

11. | RELATED PARTY DISCLOSURES

| In the year to 30th November 2025 there were four interest-free loans made to a company related by way of a common director. The total amount paid in the year to 30th November 2025 to said company Prism eLogistics (UK) Limited was £235,000 and has been added to the amount of £99,000 already loaned to Prism eLogistics (UK) Limited shown in Other Debtors.

| In the year to 30th November 2025 there were also three interest-free loans amounting to £91,197.20 and one repayment of £15,000 made to a company related by way of a common director. The £76,197.20 balance loaned to said company Guardian Properties Limited has been added to the amount of £36,720 already loaned and is shown in EJH Devereux's Director's Loan Account.

| In the year to 30th November 2025 88,074 shares were purchased for a price of £305,000 in Guardian Properties Limited, a company related by way of a common director.