REGISTERED NUMBER: 05328485 ( and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2020

for

Schyde Investments Limited

Schyde Investments Limited (Registered number: 05328485) Schyde Investments Limited (Registered number: 05328485)

Contents of the Financial Statements for the Year Ended 31 December 2020

Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Schyde Investments Limited Schyde Investments Limited

Company Information for the Year Ended 31 December 2020

DIRECTOR: M Edmund

SECRETARY: B Lander

REGISTERED OFFICE: Royal Mews St. Georges Court Cheltenham Gloucestershire GL50 3PQ

REGISTERED NUMBER: 05328485 (England and Wales)

ACCOUNTANTS: Crossley and Co. Royal Mews St Georges Place Cheltenham Gloucestershire GL50 3PQ

Page 1 Schyde Investments Limited (Registered number: 05328485) Schyde Investments Limited (Registered number: 05328485)

Balance Sheet 31 December 2020

31.12.20 31.12.19 Notes £ £ £ £ FIXED ASSETS Tangible assets 4 85,094 83,027 Investments 5 1,899,275 1,918,571 Investment property 6 20,825,000 20,825,000 22,809,369 22,826,598

CURRENT ASSETS Debtors 7 2,292,579 2,300,823 Cash at bank 441,872 188,592 2,734,451 2,489,415 CREDITORS Amounts falling due within one year 8 463,133 328,860 NET CURRENT ASSETS 2,271,318 2,160,555 TOTAL ASSETS LESS CURRENT LIABILITIES 25,080,687 24,987,153

CREDITORS Amounts falling due after more than one 9 (13,134,410 (13,375,373 ) ) year

PROVISIONS FOR LIABILITIES (2,018,347) (2,017,919) NET ASSETS 9,927,930 9,593,861

CAPITAL AND RESERVES Called up share capital 11 1 1 Retained earnings 12 9,927,929 9,593,860 SHAREHOLDERS' FUNDS 9,927,930 9,593,861

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for: (a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The notes form part of these financial statements

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Balance Sheet - continued 31 December 2020

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 September 2021 and were signed by:

M Edmund - Director

The notes form part of these financial statements

Page 3 Schyde Investments Limited (Registered number: 05328485) Schyde Investments Limited (Registered number: 05328485)

Notes to the Financial Statements for the Year Ended 31 December 2020

1. STATUTORY INFORMATION

Schyde Investments 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 Company Information page.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover Turnover represents rents receivable, sales of property and interest receivable on fixed and current asset investments (Exclusive of VAT).

Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery - 10% on cost Motor vehicles - 25% on reducing balance Computer equipment - 25% on cost

The freehold property represents land only and as such is not subject to annual depreciation. The land has been independently revalued and is stated at its current open market value.

Investments in associates Investments in associate undertakings are recognised at cost.

Investment property Investment Properties are revalued at their open market value in accordance with Section 1A of FRS 102 (effective January 2016). No depreciation is provided on investment properties which is a departure from the requirements of the Companies Act 2006. In the opinion of the director these properties are held primarily for their investment potential and so their current value is of more significance than any measure of consumption and to depreciate them would not give a true and fair view. The provisions of Section 1A of FRS 102 in respect of investment properties have therefore been adopted in order to give a true and fair view. If this departure from the Act had not been made, the profit for the year would have been reduced by depreciation. However, the amount of depreciation cannot reasonably be quantified and the amount which might otherwise have been shown cannot be separately identified or quantified. The changes in the market value of Investment Properties were previously taken to the Statement of Recognised Gains and Losses (being a movement on an investment revaluation reserve), but have been moved to the Profit and Loss Account this year under FRS 102. All Investment property was independently revalued at 23rd May 2014. The Valuer used was : Matthew Pellereau FRICS Commercial Property Consultants Diamond House 149 Frimley Road, Camberley, Surrey. GU15 2PS

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Notes to the Financial Statements - continued for the Year Ended 31 December 2020

2. ACCOUNTING POLICIES - continued Taxation Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. From 2016, under FRS 102 Deferred tax is recognised on the increases in Investment Property from revaluations now recognised in comprehensive income. The cumulative valuation increase in 2018 is £10,538,637.05 upon which deferred tax has been recognised of £2,002,341.04. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 3 ) .

4. TANGIBLE FIXED ASSETS Fixtures Plant and and Motor Computer machinery fittings vehicles equipment Totals £ £ £ £ £ COST At 1 January 2020 34,644 72,664 73,099 28,353 208,760 Additions 1,834 14,796 - 6,156 22,786 At 31 December 2020 36,478 87,460 73,099 34,509 231,546 DEPRECIATION At 1 January 2020 33,462 3,396 71,272 17,603 125,733 Charge for year 857 13,854 1,827 4,181 20,719 At 31 December 2020 34,319 17,250 73,099 21,784 146,452 NET BOOK VALUE At 31 December 2020 2,159 70,210 - 12,725 85,094 At 31 December 2019 1,182 69,268 1,827 10,750 83,027

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Notes to the Financial Statements - continued for the Year Ended 31 December 2020

5. FIXED ASSET INVESTMENTS

The company has a long term investment in SHSS Partnership LLP (OC338756) for the sum of £1,899,275 (£1,918,568 FY2019).

Under the Partnership agreement Schyde Investments Ltd is entitled to 60% of the trading profits and bears 60% of the losses which amounted to £19,293 in the year to 31st December 2020.

6. INVESTMENT PROPERTY Total £ FAIR VALUE At 1 January 2020 and 31 December 2020 20,825,000 NET BOOK VALUE At 31 December 2020 20,825,000 At 31 December 2019 20,825,000

Fair value at 31 December 2020 is represented by: £ Valuation in 2009 (202,048) Valuation in 2010 1,348,637 Valuation in 2011 1,685,000 Valuation in 2014 7,490,000 Cost 10,503,411 20,825,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.20 31.12.19 £ £ Trade debtors 80,018 61,598 Other debtors 50,500 53,500 Related Party Loans 2,093,330 2,092,916 Prepayments 68,731 92,809 2,292,579 2,300,823

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Notes to the Financial Statements - continued for the Year Ended 31 December 2020

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.20 31.12.19 £ £ Bank loans and overdrafts 121,928 121,928 Trade creditors 46,956 59,246 Rent deposits 43,940 17,290 Tax 77,231 17,834 Social security and other taxes 4,292 2,933 VAT 71,034 17,906 Accruals and deferred income 86,575 86,437 Accrued expenses 11,177 5,286 463,133 328,860

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.12.20 31.12.19 £ £ Bank loans - 1-2 years 121,928 121,928 Bank loans - 2-5 years 3,573,253 3,634,216 Other creditors 500,000 500,000 Directors loans 8,939,229 9,119,229 13,134,410 13,375,373

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.20 31.12.19 £ £ Bank loans 3,817,109 3,878,072

£3,817,109 of bank loans and overdrafts are secured by charges in favour of Lloyds Bank plc. over the following properties:

a) The Close, Broad Lane, , (Title No.BK21854)

b) Garage, Forest Road, Warfield Berkshire (Title Nos. BK116046,BK30508,BK376386,BK230980,BK246785,BK60409,BK150225)

c)Moss End Garden Centre, Warfield, Berkshire (Title No.BK378089 and BK196876) excluding the property and land known as "The Forge"

d)Texaco Garage, 240-242 London Road,Bagshot,Surrey GU19 5EX (Title No.SY145482 and SY116184)

e) Molly Millars Service Station, Molly Millars Lane, Wokingham, RG41 2PT (Title No. BK22285 and BK23321)

Lloyds Bank plc also hold a deed of postponement from the Estate of Stephen Colin Hyde in respect of £8,340,000 of the directors loan balance.

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Notes to the Financial Statements - continued for the Year Ended 31 December 2020

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid: Number: Class: Nominal 31.12.20 31.12.19 value: £ £ 1 Ordinary £1 1 1

12. RESERVES Retained earnings £

At 1 January 2020 9,593,860 Profit for the year 334,069 At 31 December 2020 9,927,929

The revaluation gain on Investment Property in the sum of £10,538,637 has been moved from the revaluation reserve to the Profit and Loss account under FRS 102. This element of reserves is not distributable as dividends.

13. RELATED PARTY DISCLOSURES

Included in Debtors are loan advances to companies that are under the common control of the trustees of the Stephen Colin Hyde Will Trust during the year to 31st December 2020.

Loans to Beckingham Homes (Egham Hill) Ltd, Reg : 05943452 , totalled £1,117,093 at the 31st December 2020. Beckingham Homes (Egham Hill) Ltd has been working on various projects in partnership with Schyde Investments Limited for 6 years and the directors consider this debt collectible as some of these projects are close to completion.

Loans to Beckingham Homes (Guildford) Ltd, Reg : 05943452, totalled £976,237 at the 31st December 2012.

Loans to Moss End Roofing Ltd, Reg : 6368340, totalled £112,844 at the 16th October 2019 when the company entered formal liquidation. The directors consider it appropriate to take full provision against this debt as they do not consider the company to have any realisable assets.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party from the 10th May 2018 is the the trustees of the Stephen Colin Hyde Will Trust. Mrs Dawn Oliver (Resigned 22nd September 2020), Mr William Bolsover (Resigned 22nd September 2020) Mrs Janet Hyde Mrs Moira Hyde (Appointed 10th December 2019)

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