REGISTERED NUMBER: 11855721 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2026

for

Functional Property Solutions Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

4

DIRECTOR:

C M M Henry

REGISTERED OFFICE:

176 Hasbury Road

Birmingham

B32 4DY

REGISTERED NUMBER:

11855721 (England and Wales)

ACCOUNTANTS:

M. J. Shapcott & Co. Limited

Chartered Accountants

Charter House, Wyvern Court

Stanier Way

Derby

DE21 6BF

The following reproduces the text of the report prepared for the director 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director 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 Functional Property Solutions Ltd for the year ended 31 March 2026 which comprise the Income Statement, Statement of Financial Position 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 director of Functional Property Solutions Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Functional Property Solutions Ltd and state those matters that we have agreed to state to the director of Functional Property Solutions Ltd 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 Functional Property Solutions Ltd and its director for our work or for this report.

It is your duty to ensure that Functional Property Solutions Ltd 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 profit of Functional Property Solutions Ltd. You consider that Functional Property Solutions Ltd 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 Functional Property Solutions Ltd. 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.

M. J. Shapcott & Co. Limited

Chartered Accountants

Charter House, Wyvern Court

Stanier Way

Derby

DE21 6BF

2 September 2026

FIXED ASSETS

Tangible assets

4

5,362

6,701

Investment property

5

1,356,014

1,142,428

1,361,376

1,149,129

CURRENT ASSETS

Debtors

6

50,350

60,100

Cash at bank

5,052

19,850

55,402

79,950

CREDITORS

Amounts falling due within one year

7

436,454

354,376

NET CURRENT LIABILITIES

(381,052

)

(274,426

)

TOTAL ASSETS LESS CURRENT LIABILITIES

980,324

874,703

CREDITORS

Amounts falling due after more than one year

8

(746,628

)

(676,319

)

PROVISIONS FOR LIABILITIES

(61,464

)

(55,440

)

ACCRUALS AND DEFERRED INCOME

(280

)

(261

)

NET ASSETS

171,952

142,683

CAPITAL AND RESERVES

Called up share capital

1

1

Fair value reserve

10

250,865

208,856

Retained earnings

(78,914

)

(66,174

)

171,952

142,683

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 2 September 2026 and were signed by:

C M M Henry - Director

1.	STATUTORY INFORMATION

Functional Property Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2025 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2025

10,485

-

10,485

Additions

-

270

270

At 31 March 2026

10,485

270

10,755

DEPRECIATION

At 1 April 2025

3,784

-

3,784

Charge for year

1,573

36

1,609

At 31 March 2026

5,357

36

5,393

NET BOOK VALUE

At 31 March 2026

5,128

234

5,362

At 31 March 2025

6,701

-

6,701

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

1,142,428

Additions

165,553

Revaluations

48,033

At 31 March 2026

1,356,014

NET BOOK VALUE

At 31 March 2026

1,356,014

At 31 March 2025

1,142,428

Fair value at 31 March 2026 is represented by:

£

Valuation in 2023

109,049

Valuation in 2024

60,000

Valuation in 2025

95,247

Valuation in 2026

48,033

Cost

1,043,685

1,356,014

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

2026

2025

£

£

Cost

1,043,685

878,132

Aggregate depreciation

(60,186

)

(54,440

)

Investment property was valued on an open market basis on 31 March 2026 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

600

600

Other debtors

49,750

59,500

50,350

60,100

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

-

1

Amounts owed to participating interests

17,065

17,753

Other creditors

419,389

336,622

436,454

354,376

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

746,628

676,319

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

746,628

676,319

9.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank loans

746,628

676,319

The director has provided a personal guarantee over the mortgages held by the company.

10.

RESERVES

Fair

value

reserve

£

At 1 April 2025

208,856

Transfer

42,009

At 31 March 2026

250,865