Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A - Small Entities, The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the measurement of investment property at fair value. The financial statements are prepared in sterling, which is the functional currency of the company, and are rounded to the nearest pound.

At 31 January 2026 the company had net current liabilities. These include a bridging loan of £600,000 from Raak Financial Ltd, drawn in December 2025 to refinance the previous loan, which is secured on the company's investment property and repayable within 12 months, and arrears of corporation tax and VAT. The directors have personally guaranteed the loan and have confirmed their continued financial support. They intend to refinance the loan on longer terms, or repay it from the property, before it falls due. On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result if the company were unable to continue as a going concern.

Turnover represents rent receivable from the letting of the company's investment property, excluding Value Added Tax. Rent is recognised on a straight-line basis over the period to which it relates.

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Tangible fixed assets, other than investment property, are stated at cost less accumulated depreciation and any impairment. Depreciation is charged so as to write off the cost of assets, less their estimated residual values, over their expected useful lives on the following basis: fixtures, fittings and equipment - 25% reducing balance. The company held no tangible fixed assets other than investment property during the year.

Investment property is property held to earn rentals and/or for capital appreciation. It is initially recognised at cost, including transaction costs, and subsequently measured at fair value at each reporting date, as determined by the directors. Investment property is not depreciated. Changes in fair value are recognised in the revaluation reserve, consistent with the prior year.

The company only has basic financial instruments. Debtors, cash, loans and other creditors are initially recognised at transaction price and subsequently measured at amortised cost, less any impairment for financial assets. Costs of arranging loan finance are charged to the income statement as incurred.