Company No: 10246574 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	78,522		99,284
Investment property	4	3,720,000		2,056,454
		3,798,522		2,155,738
Current assets
Debtors	5	55,842		16,686
Investments	6	0		100,000
Cash at bank and in hand		254,695		196,842
		310,537		313,528
Creditors: amounts falling due within one year	7	( 140,293)		( 152,865)
Net current assets		170,244		160,663
Total assets less current liabilities		3,968,766		2,316,401
Creditors: amounts falling due after more than one year	8	( 1,151,564)		( 1,251,252)
Provision for liabilities		( 19,630)		( 37,335)
Net assets		2,797,572		1,027,814
Capital and reserves
Called-up share capital	9	1,000		1,000
Revaluation reserve		1,285,200		143,941
Profit and loss account		1,511,372		882,873
Total shareholders' funds		2,797,572		1,027,814

For the financial year ending 31 March 2026 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Up Country Properties Limited (registered number: 10246574) were approved and authorised for issue by the Board of Directors on 06 October 2026. They were signed on its behalf by:

Mr R O'Connell Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Up Country Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark LLP, Melville Building East, Royal William Yard, Plymouth, PL1 3GW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Rents are recognised in the period in which they relate to.
Turnover comprises the fair value of the consideration received or receivable for the rents and provision of services in the ordinary course of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life.

Vehicles	20 % reducing balance
Fixtures and fittings	20 % reducing balance
Office equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	0		0

3. Tangible assets

	Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£
Cost
At 01 April 2025	137,165		7,545		9,217		153,927
At 31 March 2026	137,165		7,545		9,217		153,927
Accumulated depreciation
At 01 April 2025	40,235		6,322		8,086		54,643
Charge for the financial year	19,386		245		1,131		20,762
At 31 March 2026	59,621		6,567		9,217		75,405
Net book value
At 31 March 2026	77,544		978		0		78,522
At 31 March 2025	96,930		1,223		1,131		99,284

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2025	2,056,454
Fair value movement	1,663,546
As at 31 March 2026	3,720,000

Valuation

A formal valuation of the investment properties was carried out by an independent valuer. The directors are satisfied that this valuation remains representative of the fair value of the properties as at the balance sheet date.

5. Debtors

	2026		2025
	£		£
Trade debtors	51,600		0
Other debtors	4,242		16,686
	55,842		16,686

6. Current asset investments

	2026		2025
	£		£
Other investments – at cost less impairment	0		100,000

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	3,869		17,349
Taxation and social security	44,343		41,866
Other creditors	92,081		93,650
	140,293		152,865

8. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Other creditors	1,151,564		1,251,252

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
750 Ordinary A shares of £ 1.00 each	750		750
250 Ordinary B shares of £ 1.00 each	250		250
	1,000		1,000