Frisby Estates Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Frisby Estates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07455864 . The registered office is 46 High Street, Holbeach, Spalding, PE12 7ED.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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.

2.2. Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services

provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair

value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of

completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.

The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly

staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably,

revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	0%
Plant & Machinery	25% reducing balance
Fixtures & Fittings	25% reducing balance
Computer Equipment	25% reducing balance

2.4. Investment Properties

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.

2.5. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

...CONTINUED

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Frisby Estates Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.5. Financial Instruments - continued

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.6. Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current 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

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.

2.7. Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to

determine whether there is any indication that those assets have suffered an impairment loss. If any such

indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the

impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset,

the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use,

the estimated future cash flows are discounted to their present value using a pre-tax discount rate that

reflects current market assessments of the time value of money and the risks specific to the asset for which

the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying

amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An

impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued

amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to

apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cashgenerating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

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Frisby Estates Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.8. Cash and cash equivalents

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.

2.9. Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: 1)

4. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 January 2025	5,430

As at 31 December 2025	5,430

Depreciation
As at 1 January 2025	4,847
Provided during the period	146

As at 31 December 2025	4,993

Net Book Value
As at 31 December 2025	437

As at 1 January 2025	583

5. Investment Property

	2025
	£
Fair Value
As at 1 January 2025 and 31 December 2025	172,407

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,745	-

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Frisby Estates Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	336	65
Bank loans and overdrafts	6,265	4,798
Other creditors	14,826	13,862
Taxation and social security	2,183	3,294

	23,610	22,019

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	96,308	98,976

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		437		583
Investment Properties	5		172,407		172,407

			172,844		172,990
CURRENT ASSETS
Debtors	6	1,745		-
Cash at bank and in hand		54		63

		1,799		63
Creditors: Amounts Falling Due Within One Year	7	(23,610 )		(22,019 )

NET CURRENT ASSETS (LIABILITIES)			(21,811 )		(21,956 )

TOTAL ASSETS LESS CURRENT LIABILITIES			151,033		151,034

Creditors: Amounts Falling Due After More Than One Year	8		(96,308 )		(98,976 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(145 )		(111 )

NET ASSETS			54,580		51,947

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			54,480		51,847

SHAREHOLDERS' FUNDS			54,580		51,947