First Line Estates Limited

	Page
Accountant's Report	1
Statement of Financial Position	2—3
Notes to the Financial Statements	4—6

Report to the directors on the preparation of the unaudited statutory accounts of First Line Estates Limited for the year ended 28 December 2025

To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of First Line Estates Limited which comprise the Income Statement, the 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 of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made to the directors of First Line Estates Limited , as a body, in accordance with the terms of our engagement letter dated 24 November 2025. Our work has been undertaken solely to prepare for your approval the accounts of First Line Estates Limited and state those matters that we have agreed to state to the directors of First Line Estates Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than First Line Estates Limited and its directors as a body for our work or for this report.

It is your duty to ensure that First Line Estates Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of First Line Estates Limited . You consider that First Line Estates Limited 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 accounts of First Line Estates Limited . 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 financial statements.

16/09/2026

FB Accountancy Services Limited

Chartered Certified Accountants

16 Heronsgate Trading Estate

Paycocke Road

Basildon

Essex

SS14 3EU

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First Line Estates Limited

Statement of Financial Position

As At 28 December 2025

Statement of Financial Position

Registered number: 07729731

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		1,489,501		1,106,024

			1,489,501		1,106,024
CURRENT ASSETS
Debtors	5	114,709		11,000
Cash at bank and in hand		16,575		7,069

		131,284		18,069
Creditors: Amounts Falling Due Within One Year	6	(15,229 )		(923,894 )

NET CURRENT ASSETS (LIABILITIES)			116,055		(905,825 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,605,556		200,199

Creditors: Amounts Falling Due After More Than One Year	7		(1,063,503 )		-

PROVISIONS FOR LIABILITIES
Deferred Taxation			(95,869 )		-

NET ASSETS			446,184		200,199

CAPITAL AND RESERVES
Called up share capital	9		1,000		1,000
Fair value reserve	10		287,608		-
Income Statement			157,576		199,199

SHAREHOLDERS' FUNDS			446,184		200,199

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First Line Estates Limited

Statement of Financial Position (continued)

As At 28 December 2025

For the year ending 28 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board

Mr Thomas Vaughan

Director

16/09/2026

The notes on pages 4 to 6 form part of these financial statements.

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First Line Estates Limited

Notes to the Financial Statements

For The Year Ended 28 December 2025

Notes to the Financial Statements

1. General Information

First Line Estates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07729731 . The registered office is Beacon Hill Industrial Estate, Botany Way, Purfleet-On-Thames, RM19 1SR.

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 measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.

2.4. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

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

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First Line Estates Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 December 2025

4. Investment Property

	2025
	£
Fair Value
As at 29 December 2024	1,106,024
Fair value adjustments	383,477

As at 28 December 2025	1,489,501

If investment property had been accounted for under historical cost accounting rules, the amounts would be:

	2025	2024
	£	£
Cost	1,106,024	1,106,024

The investment properties were independently valued at the open market value during 2025. The director believes there to be no further significant change in the open market value at the balance sheet date.

5. Debtors

	2025	2024
	£	£
Due within one year
Amounts owed by participating interests	88,641	-
Other debtors	26,068	11,000

	114,709	11,000

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Amounts owed to group undertakings	-	913,809
Other creditors	2,400	2,369
Taxation and social security	12,829	7,716

	15,229	923,894

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

	2025	2024
	£	£
Bank loans	1,063,503	-

The bank loan is an interest only loan, secured on the investment properties held by the company.

8. Secured Creditors

Of the creditors the following amounts are secured.

	2025		2024
	£		£
Bank loans and overdrafts	1,063,503		-

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First Line Estates Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 December 2025

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1,000	1,000

10. Reserves

	Fair value reserve	Income Statement
	£	£
As at 29 December 2024	-	199,199
Profit for the year and total comprehensive income	-	292,340

Dividends paid	-	(46,355)
Transfer to/from Fair value reserve	-	(287,608)
Transfer to/from Profit & Loss Account	287,608	-

As at 28 December 2025	287,608	157,576

11. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is TV Properties Limited . TV Properties Limited was incorporated in England and Wales. It's registered office address is Beacon Hill Industrial Estate, Botany Way, Purfleet-On-Thames, RM19 1SR . The ultimate controlling party is Thomas Vaughan who controls 100% of the shares of First Line Estates Limited .

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