REGISTERED NUMBER: 05977148 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD

31 DECEMBER 2022 TO 31 DECEMBER 2023

FOR

RESIDENTIAL LAND HOLDINGS LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Consolidated Income Statement

9

Consolidated Other Comprehensive Income

11

Consolidated Statement of Financial Position

12

Company Statement of Financial Position

13

Consolidated Statement of Changes in Equity

14

Company Statement of Changes in Equity

15

Consolidated Statement of Cash Flows

16

Notes to the Consolidated Statement of Cash Flows

17

Notes to the Consolidated Financial Statements

18

DIRECTORS:

Mr B W Ritchie

Mr J S D A Rust

SECRETARY:

Mr J S D A Rust

REGISTERED OFFICE:

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

REGISTERED NUMBER:

05977148 (England and Wales)

AUDITORS:

Xeinadin Audit Limited, Statutory Auditor

8th Floor, Becket House

36 Old Jewry

London

EC2R 8DD

The directors present their annual report and audited financial statements for the year ended 31 December 2023.

REVIEW OF BUSINESS

The results of the group are disclosed in the Consolidated Income Statement on pages 9 and 10.

The key indicators relative to the group in the year are as follows:

The result for the year is shown on pages 9 and 10. As shown in the profit and loss account, the group's operating loss for the year was £7,117,598 (2023: operating profit of £470,393).

The company's balance sheet on page 12 shows net liabilities of £4,110,776 (2023: net assets of £5,152,421) at the end of the year, with a cash position of £651,478 (2023: £1,300,697). As noted in Note 23 the assets, including property stock, both held by the group and jointly held by joint venture partners, are shown at historical cost. The market values of these assets are expected to be significantly higher than shown in the accounts. In view of the above, net assets of the group are considered to be in a positive position and the state of affairs at the balance sheet date is considered to be satisfactory.

The directors are of the opinion that further analysis of standardised key performance indicators is not necessary or appropriate for an understanding of the development, performance or position of the group's business.

PRINCIPAL RISKS AND UNCERTAINTIES

Despite prevailing present market conditions, management is confident that the actions taken by the group to reinforce its business, together with strategic initiatives, make it well positioned to progress in the current year.

The group's operations expose it to a variety of financial and interest rate risks including credit risk, liquidity risk and cash flow risk. Overall responsibility for the management of these risks is vested in the directors. The group has in place policies and procedures that seek to minimise the adverse effects on the financial performance of the group by monitoring debt finance and related finance costs. The polices set out by the directors are implemented via the group's finance department.

Credit risk

Credit risk is defined as exposure to loss if another party fails to perform its financial obligations to the group. The group's client base is predominantly high profile clientèle so the historical incidence of default is low. The group has implemented policies that require appropriate credit checks on potential customers before sales are made.

Liquidity and cash flow risk

Liquidity risk is the risk that the Group, though solvent, either does not have sufficient financial resources available to enable it to meet its obligations as they fall due or can secure them only at excessive costs.

Liquidity risk arises as a consequence of the uncertainty surrounding the value and timing of cash flows. The group manages liquidity to ensure it maintains sufficient liquid assets. Debtors and creditors are actively monitored by the group's finance department.

BUSINESS ACTIVITY AND MARKET CONDITIONS

The group continued to seek to maximise returns from its property portfolio and to pursue other investments which would add to those returns. The directors manage the risks inherent in the property market within which the group operates through constantly reviewing market conditions and reacting accordingly.

ON BEHALF OF THE BOARD:

Mr J S D A Rust - Director

20 November 2025

The directors present their report with the financial statements of the company and the group for the period 31 December 2022 to 31 December 2023.

PRINCIPAL ACTIVITIES

The principal activities of the group in the year under review were those of purchase of properties for development for subsequent resale, property investment and property management.

ASSESSMENT OF GOING CONCERN

We have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. We have made this assessment in respect to a period of one year from the date of approval of these accounts.

We have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the group to continue as a going concern. We are of the opinion that the group will have sufficient resources to meet its liabilities as they fall due with the support, if necessary, of assets held jointly with joint venture partners.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2023 will be £nil (2022- £nil).

FUTURE DEVELOPMENTS

Development and performance

The directors have considered the results for the year and the financial position at year-end . The directors believe that the group will continue to grow profitability in the foreseeable future, by not only increasing turnover but also establishing a higher gross profit margin and continuing to keep a tight control on costs.

EVENTS SINCE THE END OF THE PERIOD

Information relating to events since the end of the period is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 31 December 2022 to the date of this report.

Mr B W Ritchie

Mr J S D A Rust

POLITICAL DONATIONS AND EXPENDITURE

During the year, the group made no political donations and charitable donations of £41,986 (2022- £42,321).

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:

Mr J S D A Rust - Director

20 November 2025

Opinion

We have audited the financial statements of Residential Land Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 December 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2023 and of the group's loss for the period then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the company sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, employment, and health and safety legislation and legislation relating to commercial landlords;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence where necessary.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected transactions;

- performing substantive work of material areas affecting profit and revenue recognition;

- tested the appropriateness of journal entries;

- tested authorisation of expenditure;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

To address the risk that revenue could be misstated due to fraud. we:

- we obtained an understanding of the company's revenue recognition policies and compared these to the accounting standard;

- performed a walkthrough to confirm our understanding of the processes and controls through which the business initiates, records, processes and reports revenue transactions;

- tested a sample of revenue transactions to supporting evidence; and

- tested, on a sample basis, revenue related balances in the balance sheet.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Adam Howard Moody (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited, Statutory Auditor

8th Floor, Becket House

36 Old Jewry

London

EC2R 8DD

20 November 2025

TURNOVER

3

4,195,558

10,449,869

Cost of sales

(274,469

)

(275,535

)

GROSS PROFIT

3,921,089

10,174,334

Administrative expenses

(11,082,687

)

(9,732,441

)

(7,161,598

)

441,893

Other operating income

44,000

28,500

GROUP OPERATING (LOSS)/PROFIT

6

(7,117,598

)

470,393

Share of operating profit in

Joint ventures

977,282

306,256

Loans written off

7

(171,434

)

(135,167

)

Loss on sale of tangible

fixed assets

7

-

(2,305,880

)

Amounts written off

investments

7

(1,026,829

)

(671,895

)

(7,338,579

)

(2,336,293

)

Income from fixed asset investments

8

71

94

Interest receivable and similar income

Group

12,649

542

Joint ventures

1,383

44

(7,324,476

)

(2,335,613

)

Brought forward

(7,324,476

)

(2,335,613

)

Interest payable and similar expenses

Group

9

(1,031,409

)

(519,296

)

Joint ventures

(1,164,699

)

(653,177

)

LOSS BEFORE TAXATION

(9,520,584

)

(3,508,086

)

Tax on loss

10

257,387

63,431

LOSS FOR THE FINANCIAL PERIOD

(9,263,197

)

(3,444,655

)

Loss attributable to:

Owners of the parent

(9,263,197

)

(3,444,655

)

LOSS FOR THE PERIOD

(9,263,197

)

(3,444,655

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

(9,263,197

)

(3,444,655

)

Note

Prior year adjustment

12

(485,525

)

(1,020,392

)

TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT

(9,748,722

)

(4,465,047

)

Total comprehensive income attributable to:

Owners of the parent

(9,748,722

)

(4,465,047

)

FIXED ASSETS

Intangible assets

13

302,760

440,426

Tangible assets

14

92,045

86,490

Investments

15

Interest in joint venture

Share of gross assets

16,033,261

15,458,558

Share of gross liabilities

(22,775,527

)

(22,272,176

)

(6,742,266

)

(6,813,618

)

Interest in associate

(2

)

(2

)

Other investments

5,347,672

7,642,984

(999,791

)

1,356,280

CURRENT ASSETS

Debtors

16

46,837,775

50,804,010

Prepayments and accrued income

13,937

12,288

Cash at bank and in hand

651,478

1,300,697

47,503,190

52,116,995

CREDITORS

Amounts falling due within one year

17

50,614,175

48,158,132

NET CURRENT (LIABILITIES)/ASSETS

(3,110,985

)

3,958,863

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,110,776

)

5,315,143

PROVISIONS FOR LIABILITIES

18

-

162,722

NET (LIABILITIES)/ASSETS

(4,110,776

)

5,152,421

CAPITAL AND RESERVES

Called up share capital

19

1

1

Retained earnings

(4,110,777

)

5,152,420

SHAREHOLDERS' FUNDS

(4,110,776

)

5,152,421

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2025 and were signed on its behalf by:

Mr J S D A Rust - Director

FIXED ASSETS

Intangible assets

13

-

-

Tangible assets

14

-

-

Investments

15

362,613

362,613

362,613

362,613

CURRENT ASSETS

Debtors

16

55,625,948

60,683,075

Cash at bank

97,933

99,062

55,723,881

60,782,137

CREDITORS

Amounts falling due within one year

17

27,933,798

32,808,570

NET CURRENT ASSETS

27,790,083

27,973,567

TOTAL ASSETS LESS CURRENT LIABILITIES

28,152,696

28,336,180

CAPITAL AND RESERVES

Called up share capital

19

1

1

Retained earnings

28,152,695

28,336,179

SHAREHOLDERS' FUNDS

28,152,696

28,336,180

Company's loss for the financial year

(183,484

)

(35,107

)

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2025 and were signed on its behalf by:

Mr J S D A Rust - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 31 December 2021

1

9,617,467

9,617,468

Prior year adjustment

-

(1,020,392

)

(1,020,392

)

As restated

1

8,597,075

8,597,076

Changes in equity

Total comprehensive income

-

(2,959,130

)

(2,959,130

)

Balance at 30 December 2022

1

5,637,945

5,637,946

Prior year adjustment

-

(485,525

)

(485,525

)

As restated

1

5,152,420

5,152,421

Changes in equity

Total comprehensive income

-

(9,263,197

)

(9,263,197

)

Balance at 31 December 2023

1

(4,110,777

)

(4,110,776

)

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 31 December 2021

1

28,371,286

28,371,287

Changes in equity

Total comprehensive income

-

(35,107

)

(35,107

)

Balance at 30 December 2022

1

28,336,179

28,336,180

Changes in equity

Total comprehensive income

-

(183,484

)

(183,484

)

Balance at 31 December 2023

1

28,152,695

28,152,696

Cash flows from operating activities

Cash generated from operations

1

(5,356,912

)

3,352,969

Interest paid

(659,339

)

(827,996

)

Tax paid

-

(4,538

)

Net cash from operating activities

(6,016,251

)

2,520,435

Cash flows from investing activities

Purchase of tangible fixed assets

(36,270

)

(15,894

)

Sale of tangible fixed assets

100

115,894

Interest received

14,032

586

Dividends received

71

94

Net cash from investing activities

(22,067

)

100,680

Cash flows from financing activities

Amount introduced by directors

6,151,676

5,828,526

Amount withdrawn by directors

(762,577

)

(8,373,218

)

Net cash from financing activities

5,389,099

(2,544,692

)

(Decrease)/increase in cash and cash equivalents

(649,219

)

76,423

Cash and cash equivalents at beginning of period

2

1,300,697

1,224,274

Cash and cash equivalents at end of period

2

651,478

1,300,697

1.	RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period

31.12.22

to

Year Ended

31.12.23

30.12.22

as restated

£

£

Loss before taxation

(9,520,584

)

(3,508,086

)

Depreciation charges

168,260

187,031

Loss/(profit) on disposal of fixed assets

21

(1,014,720

)

Loans written off

-

(73,438

)

Amounts written off investments

2,295,312

(671,894

)

Finance costs

2,196,108

1,172,473

Finance income

(14,103

)

(680

)

(4,874,986

)

(3,909,314

)

(Increase)/decrease in trade and other debtors

(3,805,034

)

1,359,735

Increase in trade and other creditors

3,323,108

5,902,548

Cash generated from operations

(5,356,912

)

3,352,969

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Period ended 31 December 2023

31.12.23

31.12.22

£

£

Cash and cash equivalents

651,478

1,300,697

Year ended 30 December 2022

30.12.22

31.12.21

as restated

£

£

Cash and cash equivalents

1,300,697

1,224,274

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 31.12.22

Cash flow

At 31.12.23

£

£

£

Net cash

Cash at bank and in hand

1,300,697

(649,219

)

651,478

1,300,697

(649,219

)

651,478

Total

1,300,697

(649,219

)

651,478

1.	STATUTORY INFORMATION

Residential Land Holdings 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Assessment of going concern

The directors have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The directors have made this assessment in respect to a period of one year from the date of approval of these accounts.

The directors have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the group to continue as a going concern. The directors are of the opinion that the group will have sufficient resources to meet its liabilities as they fall due.

Basis of consolidation

The group financial statements consolidate the results and balance sheets of Residential Land Holdings Group Limited and its subsidiaries undertakings drawn up to 31 December using acquisition method of accounting. The results of the subsidiaries acquired are consolidated for the period of ownership by the group using acquisition basis accounting.

The company is exempt from the requirement to present its own profit and loss account by section 408 of the Companies Act 2006.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

Contract revenue is recognised based on the number of contractor hours worked multiplied by the agreed hourly rate. Revenue not invoiced by the end of the period is accrued within debtors.

Goodwill

Purchased goodwill is the excess of the fair value of the purchase consideration over the fair value of the net assets acquired on acquisition of subsidiary undertakings.Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the consolidated statement of comprehensive income over its useful economic life.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

20% on reducing balance

Transport

-

25% on reducing balance and 10% on cost

Fixtures and fittings

-

25% on reducing balance and 25% on cost

Computer equipment

-

25% on reducing balance and 25% on reducing balance