Company No: 01663137 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	29.02.2024		30.11.2023
		£		£
				Restated - note 2
Fixed assets
Tangible assets	4	3,255		3,472
Investment property	5	2,210,365		1,401,365
Investments	6	150,002		150,002
		2,363,622		1,554,839
Current assets
Debtors	7	898,421		1,251,294
Cash at bank and in hand		73,011		131,850
		971,432		1,383,144
Creditors: amounts falling due within one year	8	( 3,195,738)		( 2,238,090)
Net current liabilities		(2,224,306)		(854,946)
Total assets less current liabilities		139,316		699,893
Creditors: amounts falling due after more than one year	9	( 1,225,503)		( 1,228,098)
Net liabilities		( 1,086,187)		( 528,205)
Capital and reserves
Called-up share capital		200,000		200,000
Revaluation reserve		1,223,307		1,223,307
Profit and loss account		( 2,509,494 )		( 1,951,512 )
Total shareholder's deficit		( 1,086,187)		( 528,205)

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges 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 Profit and Loss Account has not been delivered.

The financial statements of Tescan Limited (registered number: 01663137) were approved and authorised for issue by the Director on 26 November 2025. They were signed on its behalf by:

S Samra 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

Tescan 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 Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is Wilson Way, Pool, Redruth, TR15 3RX.

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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £1,086,187. The Company is supported through loans from the I Moore deceased Estate and the I Moore deceased related companies. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The financial statements have been prepared for a shortened accounting period from 1 December 2023 to 29 February 2024, comprising of 3 months.
As a result, the figures presented in these financial statements are not directly comparable to those of the previous full year period. Where necessary, additional disclosures have been provided to aid understanding and comparability.
Key accounting treatments affected by the shortened period include:
Depreciation - charged on a pro-rata basis to reflect the shortened period.
Taxation - provision for corporation tax has been calculated based on the results for the shortened period.
Accruals and prepayments -reviewed to ensure appropriate recognition in line with the revised reporting period.
The director considers that the shortened period provides a true and fair view of the company's financial position and performance.

Prior year adjustment

The prior period has been restated to include interest previously omitted from the original accounts.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of rent in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Taxation

Current 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.

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.

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, as follows:

Investment Property Not Depreciated

Plant and machinery	25 % reducing balance
Fixtures and fittings	25 % reducing balance
Office equipment	25 % reducing balance

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

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.

Fixed asset investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Financial instruments

The company holds the following financial instruments:

Short term trade and other debtors and creditors;
Bank Loans; and
Cash and bank balances.

All financial instruments are classified as basic.

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

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.

2. Prior year adjustment

The prior period has been restated to include interest previously omitted from the original accounts.

		As previously reported		Adjustment		As restated
Year ended 30 November 2023		£		£		£
Other loan interest payable		555		188,202		188,757
Corporation tax		43,439		4,046		47,485

3. Employees

	Period from 01.12.2023 to 29.02.2024		Year ended 30.11.2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	7		7

4. Tangible assets

	Plant and machinery		Fixtures and fittings		Office equipment		Total
	£		£		£		£
Cost
At 01 December 2023	4,247		7,937		263		12,447
At 29 February 2024	4,247		7,937		263		12,447
Accumulated depreciation
At 01 December 2023	4,048		4,711		216		8,975
Charge for the financial year	12		202		3		217
At 29 February 2024	4,060		4,913		219		9,192
Net book value
At 29 February 2024	187		3,024		44		3,255
At 30 November 2023	199		3,226		47		3,472

5. Investment property

	Investment property
	£
Valuation
As at 01 December 2023	1,401,365
Additions	809,000
As at 29 February 2024	2,210,365

6. Fixed asset investments

Investments in subsidiaries

	29.02.2024
	£
Cost
At 01 December 2023	150,002
At 29 February 2024	150,002
Carrying value at 29 February 2024	150,002
Carrying value at 30 November 2023	150,002

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Subsidiary undertakings - Fosters Pottery Limited
Registered office - Towngate House 2-8 Parkstone Road, Poole, Dorset BH15 2PW
Holding - Ordinary
Proportion of voting rights and shares held 2024 100% 2023 100%
The principal activity of Fosters Pottery Limited is Pottery retailer

Subsidiary undertakings - Lichfield Land Company Limited
Registered office - Towngate House 2-8 Parkstone Road, Poole, Dorset BH15 2PW
Holding - Ordinary A shares
Proportion of voting rights and shares held 2024 50% 2023 50%
The principal activity of Lichfield Land Company Limited is letting and operating of own or leased real estate

7. Debtors

	29.02.2024		30.11.2023
	£		£
Trade debtors	54,544		41,929
Amounts owed by own subsidiaries	197,917		193,518
Prepayments	3,678		3,648
VAT recoverable	0		2,887
Other debtors	642,282		1,009,312
	898,421		1,251,294

8. Creditors: amounts falling due within one year

	29.02.2024		30.11.2023
	£		£
Bank loans	10,315		10,271
Trade creditors	48,458		43,938
Amounts owed to Parent undertakings	38,720		38,864
Amounts owed to related parties	12,938		16,188
Corporation tax	7,955		39,391
Other taxation and social security	5,087		1,392
Other creditors	3,072,265		2,088,046
	3,195,738		2,238,090

Included in other creditors is a loan from Boyland & Son Limited for £225k, which is secured on the property known as Station House, Station Road, Congresbury, Bristol. Also, included in other creditors is a loan from Boyland & Son Limited for £500k, which is personally guaranteed by I C Moore deceased.

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

	29.02.2024		30.11.2023
	£		£
Bank loans	13,289		15,884
Amounts owed to related parties	1,212,214		1,212,214
	1,225,503		1,228,098

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

10. Related party transactions

Transactions with entities in which the entity itself has a participating interest

	29.02.2024		30.11.2023
	£		£
Subsidiaries amounts owed to the company	197,917		193,517
Subsidiaries amounts owed by the company	(38,720)		(38,864)