Registration number: 14567954

Persey Properties Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Persey Properties Limited

Company Information

Directors

N Gratwicke B Gratwicke S L Irving C V Persey

Company secretary

Michelmores Secretaries Limited

Registered office

Pencarrie House South View Estate Willand Cullompton Devon EX15 2QW

Accountants

Thompson Jenner LLP Chartered Accountants 28 Alexandra Terrace Exmouth Devon EX8 1BD

Persey Properties Limited

(Registration number: 14567954)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	249,058	224,290
Investment property	5	12,191,674	10,319,891
		12,440,732	10,544,181
Current assets
Debtors	6	29,074	2,636
Cash at bank and in hand		461,407	252,779
		490,481	255,415
Creditors: Amounts falling due within one year	7	(6,974,573)	(5,505,476)
Net current liabilities		(6,484,092)	(5,250,061)
Total assets less current liabilities		5,956,640	5,294,120
Provisions for liabilities		(59,110)	(43,000)
Net assets		5,897,530	5,251,120
Capital and reserves
Called up share capital		900	900
Share premium reserve		4,205,273	4,205,273
Retained earnings		1,691,357	1,044,947
Shareholders' funds		5,897,530	5,251,120

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 September 2026 and signed on its behalf by:
 

Persey Properties Limited

(Registration number: 14567954)
Balance Sheet as at 31 December 2025

......................................... B Gratwicke Director

Persey Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Pencarrie House
South View Estate
Willand
Cullompton
Devon
EX15 2QW
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Persey Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	Over 5 years
Fixtures and fittings	Over 25 years

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Persey Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 4).

Persey Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 January 2025	213,256	23,273	236,529
Additions	31,335	8,933	40,268
At 31 December 2025	244,591	32,206	276,797
Depreciation
At 1 January 2025	6,375	5,864	12,239
Charge for the year	9,740	5,760	15,500
At 31 December 2025	16,115	11,624	27,739
Carrying amount
At 31 December 2025	228,476	20,582	249,058
At 31 December 2024	206,881	17,409	224,290

5	Investment properties

	2025 £
At 1 January	10,319,891
Additions	1,871,783
At 31 December	12,191,674

There has been no valuation of investment property by an independent valuer.

6

Debtors

	2025 £	2024 £
Trade debtors	6,945	-
Prepayments and accrued income	22,129	2,636
Total current trade and other debtors	29,074	2,636

Persey Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

7

Creditors

	Note	2025 £	2024 £
Due within one year
Trade creditors		170	16,663
Amounts owed to group undertakings and undertakings in which the company has a participating interest		26,159	20,874
Taxation and social security		320,043	346,665
Other creditors		6,345,723	5,116,274
Accrued expenses		7,527	5,000
Deferred income		274,951	-
		6,974,573	5,505,476