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Pixieacre Limited

FINANCIAL STATEMENTS

for the financial year ended 31 August 2025

PIXIEACRE LIMITED

DIRECTORS AND OTHER INFORMATION

Directors | Sacha Maria Mascolo-Tarbuck
| Pierre Patrick Mascolo (Resigned 10 July 2026)
| Christian Francesco Mascolo (Resigned 6 July 2026)
| Pauline Rose Mascolo (Resigned 6 May 2025)
| Mr David Fitzgerald (Appointed 15 July 2026)
Company Secretary | Mr Graeme Stephen Samson (Appointed 6 May 2025)
| Rupert William Leslie Berrow (Resigned 24 April 2025)
Company Registration Number | 03360708
Registered Office and Business Address | Berkeley House
| Amery Street
| Alton
| Hampshire
| GU341HN
| United Kingdom
Independent Auditors | JWR Audit Limited
| 24 Picton House
| Hussar Court
| Waterlooville
| Hampshire
| PO7 7SQ
| United Kingdom

PIXIEACRE LIMITED

Company Registration Number: 03360708

BALANCE SHEET

as at 31 August 2025

|  |  | 2025 |  | 2024
|  | Notes | £ |  | £
Fixed Assets

Tangible assets |  | 6 | 3,380,000 |  | 3,305,000
|  |  | ───────── |  | ─────────
Current Assets

Debtors |  | 7 | 230,538 |  | 209,307
Cash and cash equivalents |  |  | 6,698 |  | 6,877
|  |  | ───────── |  | ─────────
|  |  | 237,236 |  | 216,184
|  |  | ───────── |  | ─────────
Creditors: amounts falling due within one year |  | 8 | (508,340) |  | (839,871)
|  |  | ───────── |  | ─────────
Net Current Liabilities |  |  | (271,104) |  | (623,687)
|  |  | ───────── |  | ─────────
Total Assets less Current Liabilities |  |  | 3,108,896 |  | 2,681,313
|  |  | ═════════ |  | ═════════
Capital and Reserves

Called up share capital |  |  | 31 |  | 31
Other reserves |  |  | (1,076,204) |  | (1,532,331)
Retained earnings |  |  | 4,185,069 |  | 4,213,613
|  |  | ───────── |  | ─────────
Equity attributable to owners of the company |  |  | 3,108,896 |  | 2,681,313
|  |  | ═════════ |  | ═════════
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.

Approved by the Board and authorised for issue on 13 August 2026 and signed on its behalf by

________________________________ |  |  |  |  |
Sacha Maria Mascolo-Tarbuck |  |  |  |  |
Director |  |  |  |  |

PIXIEACRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2025

1. | GENERAL INFORMATION
| Pixieacre 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 presentation currency of the financial statements is the Pound Sterling (£). Accounts are rounded to the nearest pound. The accounts represent the company as an individual entity.

2. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
| The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
| Statement of compliance
| The financial statements of the company for the financial year ended 31 August 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
| Basis of preparation
| The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
| Turnover
| Turnover represents rents receivable under operating leases in the United Kingdom, net of value added tax, which is recognised on a straight line basis over the term of the relevant lease.
| Investment properties
| 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.
| Trade and other debtors
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be material. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
| Trade and other creditors
| Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
| Taxation and deferred taxation
| Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
| Ordinary share capital
| The ordinary share capital of the company is presented as equity.
| Exceptional item
| Exceptional items are those that the directors' view are required to be separately disclosed by virtue of their size or incidence to enable a full understanding of the company's financial performance. There was a property sale during the year, 15 Market Street, Leicester, and there was a profit on disposal of this property of £32,000.

3. | SIGNIFICANT ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
| In preparing the financial statements in accordance with FRS 102, management is required to make judgements, estimates, and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income, and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

4. | INFORMATION RELATING TO THE AUDITOR'S REPORT
| The Audit Report was unqualified. There were no matters to which the auditor was required to refer by way of emphasis.
| The financial statements were audited by JWR Audit Limited.
| The Auditor's Report was signed by Katie Wood FCA FCCA (Senior Statutory Auditor) for and on behalf of JWR Audit Limited on 15th August 2026.

5. | EMPLOYEES
| The average monthly number of employees, including directors, during the financial year was 0, (2024 - 0).

6. | TANGIBLE ASSETS
|  | Investment | Total
|  | properties |
|  | £ | £
| Cost or Valuation
| At 1 September 2024 | 3,305,000 | 3,305,000
| Disposals | (120,000) | (120,000)
| Revaluation | 195,000 | 195,000
|  | ───────── | ─────────
| At 31 August 2025 | 3,380,000 | 3,380,000
|  | ───────── | ─────────
| Depreciation
| At 1 September 2024 | - | -
|  | ───────── | ─────────
| At 31 August 2025 | - | -
|  | ───────── | ─────────
| Net book value
| At 31 August 2025 | 3,380,000 | 3,380,000
|  | ═════════ | ═════════
| At 31 August 2024 | 3,305,000 | 3,305,000
|  | ═════════ | ═════════

7. | DEBTORS | 2025 | 2024
|  | £ | £
| Trade debtors | 81,323 | 205,868
| Amounts owed by group undertakings | 145,711 | -
| Other debtors | 429 | 429
| Prepayments and accrued income | 3,075 | 3,010
|  | ───────── | ─────────
|  | 230,538 | 209,307
|  | ═════════ | ═════════

8. | CREDITORS | 2025 | 2024
| Amounts falling due within one year | £ | £
| Trade creditors | 5,110 | 274
| Amounts owed to group undertakings | 63,000 | 433,977
| Taxation | 43,060 | 12,813
| Directors' current accounts | - | 350,999
| Other creditors | 370,308 | 12,809
| Accruals and deferred income | 26,862 | 28,999
|  | ───────── | ─────────
|  | 508,340 | 839,871
|  | ═════════ | ═════════

9. | DETAILS OF CREDITORS
| Security given in respect of creditors
| There is a cross guarantee and debenture between Mascolo Holdings Limited, Mascolo Limited, Toni & Guy Holdings Limited and Toni & Guy Limited. In addition, the company is party to cross-guarantee agreements with Covent Garden (T) Hairdressing Limited, Gloucester Road (T) Hairdressing Limited, Kensington (T) Hairdressing Limited, Mascolo Holdings Limited, North Audley Street (T) Hairdressing Limited, Shoreditch (T) Hairdressing Limited, Sloane Square (T) Hairdressing Limited, South Kensington (T) Hairdressing Limited, Toni & Guy Holdings Limited, Toni & Guy Limited, Victoria (T) Hairdressing Limited, Wigmore Street (T) Hairdressing Limited and Wimbledon (T) Hairdressing Limited, whereby each party guarantees the bank facilities of the others. The company had not been called upon to make any payments under these guarantees during the year.

10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
| At the year end, the company owed the director £nil (2024: £350,999)

11. | CONTROLLING INTEREST
| The ultimate controlling party is Toni & Guy International Limited

12. | SHARE CAPITAL
| Allotted, issued and fully paid
|  | 2025 | 2024
|  | £ | £
| 311,239 Ordinary Shares | 31 | 31
|  | ═════════ | ═════════

13. | INVESTMENT PROPERTY REVALUATION
| Freehold buildings were revalued on 31st August 2025 by Graham + Sibbald UK LLP, independent valuers, on the basis of open market value for existing use. As a result of the revaluations, the total carrying amount of the freehold properties has changed due to the disposal of the Leicester building. The revalued amount of freehold property at 31 August 2025 is £3,380,000.
|  | 2025 | 2024
|  | £ | £
| Fair Value at 31 August 2019 | 5,396,500 | 5,396,500
| Fair Value Revaluation to 31 August 2020 | (871,500) | (871,500)
| Fair Value Revaluation to 31 August 2021 | 235,000 | 235,000
| Fair Value Revaluation to 31 August 2022 | (880,000) | (880,000)
| Fair Value Revaluation to 31 August 2023 | (350,000) | (350,000)
| Fair Value Revaluation to 31 August 2024 | (225,000) | (225,000)
| Fair Value Revaluation to 31 August 2025 | 75,000 | -
|  | ───────── | ─────────
|  | 3,380,000 | 3,305,000
|  | ═════════ | ═════════