REGISTERED NUMBER: 07948763 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Tutis Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G A Marino

Ms F Marino

REGISTERED OFFICE:

Lake House

Market Hill

Royston

SG8 9JN

BUSINESS ADDRESS:

19 Rutherford Road

Cambridge

CB2 8HH

REGISTERED NUMBER:

07948763 (England and Wales)

ACCOUNTANTS:

Hardcastle Burton LLP

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

FIXED ASSETS

Tangible assets

4

150,090

310,237

Investment property

5

14,939,092

17,155,093

15,089,182

17,465,330

CURRENT ASSETS

Debtors

6

465,007

192,723

Cash at bank

1,604,807

1,501,467

2,069,814

1,694,190

CREDITORS

Amounts falling due within one year

7

1,051,187

1,956,198

NET CURRENT ASSETS/(LIABILITIES)

1,018,627

(262,008

)

TOTAL ASSETS LESS CURRENT LIABILITIES

16,107,809

17,203,322

PROVISIONS FOR LIABILITIES

8

478,545

944,284

NET ASSETS

15,629,264

16,259,038

CAPITAL AND RESERVES

Called up share capital

9

100

100

Share premium

7,749,900

7,749,900

Fair value reserve

10

1,476,938

2,813,985

Retained earnings

6,402,326

5,695,053

SHAREHOLDERS' FUNDS

15,629,264

16,259,038

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 14 September 2026 and were signed on its behalf by:

Mr G A Marino - Director

1.	STATUTORY INFORMATION

Tutis Properties 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.

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 represents rental income which has been recorded in the profit and loss account on a straight line basis across the period of the lease.

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

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from the changes in fair value is recognised in the profit and loss account.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company

becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors, 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.

Basic financial liabilities

Basic financial liabilities, including creditors and loans 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.

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 5 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2025

285,082

31,504

133,420

Additions

-

-

6,702

Disposals

(145,431

)

(9,438

)

(122,485

)

At 31 December 2025

139,651

22,066

17,637

DEPRECIATION

At 1 January 2025

-

25,612

121,413

Charge for year

-

5,145

8,198

Eliminated on disposal

-

(9,438

)

(118,828

)

At 31 December 2025

-

21,319

10,783

NET BOOK VALUE

At 31 December 2025

139,651

747

6,854

At 31 December 2024

285,082

5,892

12,007

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2025

19,537

12,331

481,874

Additions

-

1,640

8,342

Disposals

(5,747

)

(8,527

)

(291,628

)

At 31 December 2025

13,790

5,444

198,588

DEPRECIATION

At 1 January 2025

15,585

9,027

171,637

Charge for year

1,438

2,074

16,855

Eliminated on disposal

(3,233

)

(8,495

)

(139,994

)

At 31 December 2025

13,790

2,606

48,498

NET BOOK VALUE

At 31 December 2025

-

2,838

150,090

At 31 December 2024

3,952

3,304

310,237

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

17,155,093

Disposals

(370,000

)

Revaluations

(1,846,001

)

At 31 December 2025

14,939,092

NET BOOK VALUE

At 31 December 2025

14,939,092

At 31 December 2024

17,155,093

Fair value at 31 December 2025 is represented by:

£

Valuation in 2017

(94,301

)

Valuation in 2018

71,373

Valuation in 2019

1,140,532

Valuation in 2020

2,127,287

Valuation in 2021

371,976

Valuation in 2024

135,114

Valuation in 2025

(1,782,730

)

Cost

12,969,841

14,939,092

The director has considered the valuation of the investment property held by Tutis Properties Limited and it was determined that a fair value adjustment of £1,782,730 was required.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

as restated

£

£

Trade debtors

124,085

103,222

Related party

335,623

88,980

Prepayments

5,299

521

465,007

192,723

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

as restated

£

£

Trade creditors

8,454

3,340

Tax

301,674

262,204

Social security and other taxes

-

2,206

VAT

30,501

29,698

Other creditors

283,417

282,002

Directors' current accounts

215,073

1,192,826

Accruals and deferred income

212,068

183,922

1,051,187

1,956,198

8.	PROVISIONS FOR LIABILITIES

31.12.25

31.12.24

as restated

£

£

Deferred tax

Accelerated capital allowances

2,609

6,289

Tax losses carried forward

(16,377

)

-

Revaluation

492,313

937,995

478,545

944,284

Deferred

tax

£

Balance at 1 January 2025

944,284

Utilised during year

(3,679

)

Revaluation

(445,683

)

Capital losses

(16,377

)

Balance at 31 December 2025

478,545

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.25

31.12.24

value:

as restated

£

£

1,000

Ordinary

£0.10

100

100

10.

RESERVES

Fair

value

reserve

£

At 1 January 2025

2,813,985

Disposals

63,272

Revaluation

(1,846,001

)

Transfer

445,682

At 31 December 2025

1,476,938

11.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme.The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £227 (2024 - £190). The pension contributions outstanding at the year end were £16 (2024 - £Nil).

12.	RELATED PARTY DISCLOSURES

At the year end the company owed the following balances to related parties:

i) £220,618 (2024: NIL) due from NMA Estates Ltd, this amount is interest free and repayable within one year.The company is related to NMA Estates Ltd by virtue of their shareholder and director in common.

ia) During the year, the company sold a property to NMA Estates Limited for £370,000. The directors consider that the transaction was undertaken at arm's length and represented market value at the date of disposal.

ii) £24,795 (2024: NIL) due from Enton Ltd, this amount is interest free and repayable within one year. The company is related to Enton Ltd by virtue of their shareholder & director in common.

iii) £1,612 (2024 :£833) due from Silver Forest Properties Ltd, this amount is interest free and repayable within one year. The company is related to Silver Forest Properties Ltd by virtue of their shareholder in common.

iv) £88,390 (2024 :£87,888) due from Tutis Construction Ltd, this amount is interest free and repayable within one year. The company is related to Tutis Construction Ltd by virtue of their shareholder & director in common.

v) £208 (2024: 208) due from Barnwell Lake Cafe Ltd, this amount is interest free and repayable within one year.The company is related to Barnwell Lake Cafe Ltd by virtue of their shareholder and director in common.

vi) £957 (2024: 259) due to Lynx Properties Ltd, this amount is interest free and repayable within one year.The company is related to Lynx Properties Ltd by virtue of their shareholder in common.