REGISTERED NUMBER: 08088398 (England and Wales)

Financial Statements for the Year Ended 31 August 2025

for

Oregon & Ratcliffe Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A J Beer

D C Brewitt

REGISTERED OFFICE:

Seymour Chambers

92 London Road

Liverpool

Merseyside

L3 5NW

REGISTERED NUMBER:

08088398 (England and Wales)

AUDITORS:

Douglas Fairless Partnership

Chartered Certified Accountants

and Statutory Auditors

Seymour Chambers

92 London Road

Liverpool

Merseyside

L3 5NW

FIXED ASSETS

Tangible assets

4

19,406

17,955

Investment property

5

16,570,000

14,310,450

16,589,406

14,328,405

CURRENT ASSETS

Debtors

6

498,938

422,930

Cash at bank

29,331

10,389

528,269

433,319

CREDITORS

Amounts falling due within one year

7

791,911

693,818

NET CURRENT LIABILITIES

(263,642

)

(260,499

)

TOTAL ASSETS LESS CURRENT LIABILITIES

16,325,764

14,067,906

CREDITORS

Amounts falling due after more than one year

8

(7,091,000

)

(7,091,000

)

PROVISIONS FOR LIABILITIES

(2,268,215

)

(1,699,021

)

NET ASSETS

6,966,549

5,277,885

CAPITAL AND RESERVES

Called up share capital

2

2

Non-Dist Retained Earnings

6,961,945

5,267,282

Retained earnings

4,602

10,601

SHAREHOLDERS' FUNDS

6,966,549

5,277,885

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 17 August 2026 and were signed on its behalf by:

A J Beer - Director

D C Brewitt - Director

1.	STATUTORY INFORMATION

Oregon & Ratcliffe Ltd 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.

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.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of investment properties]. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

· Section 7 'Statement of Cash Flows': Presentation of a statement of cash flow and related notes and disclosures;

· Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

· Section 26 'Share based Payment': Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

· Section 33 'Related Party Disclosures': Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Carpenter Investments Limited. These consolidated financial statements are available from its registered office, Seymour Chambers, 92 London Road, Liverpool, L3 5NW.

Going Concern

At the time of signing these accounts, having considered the economic climate, the Directors expectations and intentions for the next 12 months, having reviewed cashflow forecasts for the next 12 months and a day and the availability of working capital, the Director's are of the the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.

Significant judgements and estimates

In the application of the company's accounting policies, the director's are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on going basis. Revisions to accounting estimates are recognised in the period in which the estimates is revised where the revision affects only that period, or in the period of the revision and future periods where revision affects both current and future periods.

Investment properties of the group are measured at fair value. Fair value of the group's investment property portfolio is established through obtaining professional valuations of group properties on a periodic basis, which would normally be every 3 to 5 years, using professionals who possess the relevant expertise, experience and qualifications to make an assessment of the fair value of the group's investment property portfolio. On years where a professional valuation has not taken place, the director's make their own assessment of the fair value of the group's investment property portfolio. This assessment is performed by considering current market rental yields and comparable market transactions. Whether the valuations are produced by a professional valuer or the directors, the assumptions applied are inherently subjective and so are subject to a degree of estimation uncertainty.

Estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

The turnover in the profit & loss account represents revenue recognised on accrued rental contracts in place during the period exclusive of value added tax.

Tangible fixed assets

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

Plant and machinery etc

-

15% on reducing balance

Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

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.

The Investment Property is initially recognised at cost; cost includes the purchase cost, costs of development to bring the site into use and any other directly attributable expenditure. Subsequently, it is measured at fair value at the reporting date. The surplus or deficit on revaluation is recognised in the profit & loss account.

The fair value surplus and deficits recognised in the profit loss account are non-distributable reserves and are shown separately on the face of the balance sheet as non-distributable retained earnings. The amounts held in non-distributable reserves for the fair value adjustments are shown after providing for deferred taxation.

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

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.

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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2024

56,010

Additions

4,440

At 31 August 2025

60,450

DEPRECIATION

At 1 September 2024

38,055

Charge for year

2,989

At 31 August 2025

41,044

NET BOOK VALUE

At 31 August 2025

19,406

At 31 August 2024

17,955

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2024

14,310,450

Revaluations

2,259,550

At 31 August 2025

16,570,000

NET BOOK VALUE

At 31 August 2025

16,570,000

At 31 August 2024

14,310,450

Fair value at 31 August 2025 is represented by:

£

Valuation in 2017

1,742,593

Valuation in 2020

3,075,000

Valuation in 2022

875,000

Valuation in 2023

649,000

Valuation in 2024

681,450

Valuation in 2025

2,259,550

Cost

7,287,407

16,570,000

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

31.8.25

31.8.24

£

£

Cost

7,287,407

7,287,407

Investment property was valued on an open market basis on 3 July 2025 by Avison Young (UK) Limited .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Trade debtors

432,051

356,422

Other debtors

66,887

66,508

498,938

422,930

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Trade creditors

13,367

8,163

Amounts owed to group undertakings

342,852

307,000

Taxation and social security

1,193

1,423

Other creditors

434,499

377,232

791,911

693,818

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.25

31.8.24

£

£

Bank loans

7,091,000

7,091,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.25

31.8.24

£

£

Bank loans

7,091,000

7,091,000

Svenska Handelsbanken Ab (Publ) have a charge over the property known as the freehold land being on the north-east side of caryl street, liverpool and registered at land registry under title number MS623611.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Gregory Newton (Senior Statutory Auditor)

for and on behalf of Douglas Fairless Partnership

11.	POST BALANCE SHEET EVENTS

On 13/10/26, the director's agreed terms for the re-financing of the loans held with Handelsbanken, this is considered to be a non-adjusting post balance sheet event. The effects of the re-financing is that the £7,091,000 currently showing as bank loans due within 1 - 2 years will now show as bank loans due within 2 - 5 years in the next set of financial statements.

12.	ULTIMATE PARENT COMPANY

The ultimate parent company is Carpenter Investments Ltd.

The registered office of the parent is as follows.

Seymour Chambers

92 London Road

Liverpool

L3 5NW