ACCOUNTS - Final Accounts

Operating profit

The operating profit is stated after charging:

Registered number: 03229381

STORE PROPERTY (CHICHESTER) LIMITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

For the Year Ended 24 March 2026

STORE PROPERTY (CHICHESTER) LIMITED

CONTENTS

	Page
Directors' report	1 - 2
Independent auditors' report	3 - 6
Statement of income and retained earnings	7
Balance sheet	8
Notes to the financial statements	9 - 13

STORE PROPERTY (CHICHESTER) LIMITED

DIRECTORS' REPORT

For the Year Ended 24 March 2026

The directors present their report and the financial statements for the year ended 24 March 2026.

Directors' responsibilities statement

The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Directors

The directors who served during the year were:

Mr R F Wickens (resigned 13 June 2026)

Mrs J J Wickens (resigned 13 June 2026)

Ms S F Wickens BSc

Mr G N Hawkins FCA

Mr P M A Rowland BSc (Hons) MCIOB

Mr R D Moyler BSc (Hons) MRICS

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Page 1

STORE PROPERTY (CHICHESTER) LIMITED

DIRECTORS' REPORT (CONTINUED)

For the Year Ended 24 March 2026

Auditors

Under section 487(2) of the Companies Act 2006, Menzies LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 29 July 2026 and signed on its behalf.

G N Hawkins

Director

Page 2

STORE PROPERTY (CHICHESTER) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF STORE PROPERTY (CHICHESTER) LIMITED

Opinion

We have audited the financial statements of Store Property (Chichester) Limited (the 'company') for the year ended 24 March 2026, which comprise the Statement of income and retained earnings, the Balance sheet and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the company's affairs as at 24 March 2026 and of its profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 3

STORE PROPERTY (CHICHESTER) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF STORE PROPERTY (CHICHESTER) LIMITED (CONTINUED)

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Directors' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit; or

∙the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' report and from the requirement to prepare a Strategic report.

Responsibilities of directors

As explained more fully in the Directors' responsibilities statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Page 4

STORE PROPERTY (CHICHESTER) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF STORE PROPERTY (CHICHESTER) LIMITED (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

• The Company is subject to laws and regulations that directly affect the financial statements including The Companies Act 2006, UK taxation legislation, financial reporting legislation and general regulations such as occupational health and safety and General Data Protection. There are no industry specific laws and regulations which would be deemed to have a significant impact on the financial statements. We assessed the extent of compliance with the appropriate laws and regulations as part of our procedures on the related financial statement items.

• We understood how the Company is complying with those legal and regulatory frameworks by, making inquiries to management, those responsible for legal and compliance procedures and the company secretary. We corroborated our inquiries through our review of documentation.

• The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any issues in this area.

• We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

o Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;

o Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

o Challenging assumptions and judgments made by management in its significant accounting estimates;

o Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations; and

o Review of legal and professional expenditure and supporting documentation.

• As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:

o Posting of unusual journals and complex transactions; and

o Manipulation of amounts subject to significant judgment or estimate.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.

This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.

The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.

Page 5

STORE PROPERTY (CHICHESTER) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF STORE PROPERTY (CHICHESTER) LIMITED (CONTINUED)

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

James Hadfield FCA (Senior statutory auditor)

for and on behalf of

Menzies LLP

Chartered Accountants

Statutory Auditor

3000a Parkway

Whiteley

Hampshire

PO15 7FX

29 July 2026

Page 6

STORE PROPERTY (CHICHESTER) LIMITED

STATEMENT OF INCOME AND RETAINED EARNINGS

For the Year Ended 24 March 2026

	2026	2025
Note	£	£


Turnover		228,611	202,128
Property expenditure		(204,617)	(197,216)
Net income from property		23,994	4,912
Administrative expenses		(171)	(154)
Operating profit	4	23,823	4,758
Tax on profit	6	(5,850)	(904)
Profit after tax		17,973	3,854



Retained earnings at the beginning of the year	13,615	9,761
	13,615	9,761
Profit for the year	17,973	3,854
Retained earnings at the end of the year	31,588	13,615

There were no recognised gains and losses for 2026 or 2025 other than those included in the statement of income and retained earnings.

The notes on pages 9 to 13 form part of these financial statements.

Page 7

STORE PROPERTY (CHICHESTER) LIMITED

Registered number: 03229381

BALANCE SHEET

As at 24 March 2026

	2026	2025
Note	£	£


Current assets
Debtors: amounts falling due within one year	7	1,616	1,386
Cash at bank and in hand		46,069	23,684
		47,685	25,070
Creditors: amounts falling due within one year	8	(16,095)	(11,453)

Net assets		31,590	13,617

Capital and reserves
Called up share capital	9	2	2
Profit and loss account	10	31,588	13,615
		31,590	13,617

The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 July 2026.

S F Wickens

Director

The notes on pages 9 to 13 form part of these financial statements.

Page 8

STORE PROPERTY (CHICHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the Year Ended 24 March 2026

1.	General information

Store Property (Chichester) Limited is a private company limited by shares and incorporated in England and Wales.

The company's registered office and principal place of business is at Farr House, 4 New Park Road, Chichester, West Sussex, PO19 7XA.

The company's principal activity is the letting of residential properties in the south of England which it holds under a lease from a fellow subsidiary company of the Group.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Revenue

Turnover comprises the gross rental charges receivable during the year, excluding VAT and arising wholly within the United Kingdom.

Turnover excludes service charges and other costs directly recoverable from tenants.

2.3

Expenditure

Irrecoverable running costs directly attributable to properties are charged to the profit and loss account on an accruals basis. Costs incurred on the improvement of the property are incurred by the freehold landlord and not by the company.

Costs not directly attributable to specific properties are charged to the profit and loss account as administrative expenditure.

2.4

Operating leases: the company as lessee

At inception the company assesses agreements that transfer the right to use assets. Where the agreement transfers substantially all risks and rewards of ownership of the asset, the lease would be treated as a finance lease. As the leases entered into by the company do not transfer substantially all the risks and rewards of ownership they have been classified as operating leases.

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

2.5

Operating leases: the company as lessor

The company has entered into residential assured shorthold tenancy agreements with individuals as a lessor on the properties leased from the parent undertaking. Rental income from the residential portfolio, is recognised on a straight-line basis over the term of the relevant lease.

Page 9

STORE PROPERTY (CHICHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the Year Ended 24 March 2026

2.Accounting policies (continued)

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

2.9

Going concern

Future cashflow and working capital liquidity requirements are documented at a group level where detailed forecasts and scrutinised by the directors. The methodology adopted is appraised and amended in response to changing economic conditions and the actual outcome is routinely assessed against previous forecasts.

The most recently prepared forecasts demonstrate that the company and the group have the resources to readily meet all liabilities as they fall due. In their judgment, the directors conclude that these financial statements may validly be prepared on the going concern basis.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of financial statements requires the directors to make judgments and estimates that affect reported amounts of assets and liabilities. These judgments and estimates are based on experience and knowledge of the detailed facts but inevitably the actual outcome will differ with any variance being reflected in the accounting records once it becomes apparent.

In preparing these financial statements, there are no areas of significant judgment or estimation uncertainty that require specific disclosure in addition to the disclosures in the accounting policies as set out in Note 2.

Operating lease rentals

127,899

126,844

Page 10

STORE PROPERTY (CHICHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the Year Ended 24 March 2026

Employees

The company has no employees other than the directors, who did not receive any remuneration (2025 - £NIL).

6.	Taxation

Profit on ordinary activities before tax

23,823

4,758

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2025 - 19%)	5,956	904
Effects of:
Marginal relief	(106)	-
Total tax charge for the year	5,850	904

Debtors

					2026	2025
					£	£


Trade debtors	445	322
Other debtors	263	330
Prepayments and accrued income	908	734
	1,616	1,386

8.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Trade creditors	1,499	3,248
Corporation tax	5,850	904
Accruals and deferred income	8,746	7,301
	16,095	11,453

Page 11

STORE PROPERTY (CHICHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the Year Ended 24 March 2026

9.	Share capital
		2026	2025
		£	£

Allotted, called up and fully paid

2 (2025 - 2) Ordinary shares of £1.00 each	2	2

The ordinary shares carry full voting and dividend rights to the shareholders.

10.

Reserves

Profit and loss account

The balance on the Profit and loss account comprises current and prior year distributable profits.

Not later than 1 year	101,312	122,550
Later than 1 year and not later than 5 years	158,000	259,312
	259,312	381,862


Not later than 1 year	63,101	74,229
	63,101	74,229

Page 12

STORE PROPERTY (CHICHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the Year Ended 24 March 2026

13.	Ultimate parent undertaking and controlling party

The company's ultimate holding company is Store Property Holdings Limited, a company registered in England and Wales whose registered office is Farr House, 4 New Park Road, Chichester, West Sussex, PO19 7XA. Store Property Holdings Limited is also the parent company of the largest and smallest group of which the company is a member and for which group accounts are drawn up. Copies of the accounts are available from Companies House.

The directors do not consider there to be a single ultimate controlling party.

The company has taken advantage of the exemption in FRS 102 not to disclose transactions with the parent company and other wholly-owned members of the group.

Page 13