Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-05-232025-03-312025-05-23false2024-04-01false00falsefalse 06572285 2024-04-01 2025-03-31 06572285 2023-04-01 2024-03-31 06572285 2025-03-31 06572285 2024-03-31 06572285 2023-04-01 06572285 2 2024-04-01 2025-03-31 06572285 2 2023-04-01 2024-03-31 06572285 d:Director1 2024-04-01 2025-03-31 06572285 d:Director2 2024-04-01 2025-03-31 06572285 d:Director3 2024-04-01 2025-03-31 06572285 d:Director4 2024-04-01 2025-03-31 06572285 d:Director5 2024-04-01 2025-03-31 06572285 d:RegisteredOffice 2024-04-01 2025-03-31 06572285 e:CurrentFinancialInstruments 2025-03-31 06572285 e:CurrentFinancialInstruments 2024-03-31 06572285 e:CurrentFinancialInstruments e:WithinOneYear 2025-03-31 06572285 e:CurrentFinancialInstruments e:WithinOneYear 2024-03-31 06572285 e:ReportableOperatingSegment1 2024-04-01 2025-03-31 06572285 e:ReportableOperatingSegment1 2023-04-01 2024-03-31 06572285 e:ReportableOperatingSegment2 2024-04-01 2025-03-31 06572285 e:ReportableOperatingSegment2 2023-04-01 2024-03-31 06572285 e:UKTax 2024-04-01 2025-03-31 06572285 e:UKTax 2023-04-01 2024-03-31 06572285 e:ShareCapital 2025-03-31 06572285 e:ShareCapital 2024-03-31 06572285 e:ShareCapital 2023-04-01 06572285 e:RevaluationReserve 2024-04-01 2025-03-31 06572285 e:RevaluationReserve 2025-03-31 06572285 e:RevaluationReserve 2023-04-01 2024-03-31 06572285 e:RevaluationReserve 2024-03-31 06572285 e:RevaluationReserve 2023-04-01 06572285 e:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 06572285 e:RetainedEarningsAccumulatedLosses 2025-03-31 06572285 e:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 06572285 e:RetainedEarningsAccumulatedLosses 2024-03-31 06572285 e:RetainedEarningsAccumulatedLosses 2023-04-01 06572285 e:AcceleratedTaxDepreciationDeferredTax 2025-03-31 06572285 e:AcceleratedTaxDepreciationDeferredTax 2024-03-31 06572285 e:TaxLossesCarry-forwardsDeferredTax 2025-03-31 06572285 e:TaxLossesCarry-forwardsDeferredTax 2024-03-31 06572285 e:RetirementBenefitObligationsDeferredTax 2025-03-31 06572285 e:RetirementBenefitObligationsDeferredTax 2024-03-31 06572285 d:OrdinaryShareClass1 2024-04-01 2025-03-31 06572285 d:OrdinaryShareClass1 2025-03-31 06572285 d:OrdinaryShareClass1 2024-03-31 06572285 d:OrdinaryShareClass2 2024-04-01 2025-03-31 06572285 d:OrdinaryShareClass2 2025-03-31 06572285 d:OrdinaryShareClass2 2024-03-31 06572285 d:FRS102 2024-04-01 2025-03-31 06572285 d:Audited 2024-04-01 2025-03-31 06572285 d:FullAccounts 2024-04-01 2025-03-31 06572285 d:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 06572285 6 2024-04-01 2025-03-31 06572285 f:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:shares xbrli:pure


Registered number: 06572285












EDGBASTON PARTNERS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

 

EDGBASTON PARTNERS LIMITED
 
COMPANY INFORMATION


Directors
C. Fernando 
M. Myles 
S. Nichols 
R. Cheung 
G.C Arrigoni 




Registered number
06572285



Registered office
105 Piccadilly

London

W1J 7NJ




Independent auditors
Blick Rothenberg Audit LLP
Chartered Accountants & Statutory Auditor

16 Great Queen Street

Covent Garden

London

WC2B 5AH





 

EDGBASTON PARTNERS LIMITED

CONTENTS



Page
Directors' report
1 - 2
Independent auditors' report
3 - 5
Statement of comprehensive income
6
Balance sheet
7
Statement of changes in equity
8
Notes to the financial statements
9 - 14


 

EDGBASTON PARTNERS LIMITED

DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025

The directors present their report and the financial statements for the year ended 31 March 2025.

Principal activity

The Company’s principal activity is investment management. The Company engages in investment management by providing ongoing operational, intellectual, financial and other support to the firms in which it has an economic interest. 
The Company directly owns a substantial majority interest in Edgbaston Investment Partners LLP (the “Partnership”), a UK based investment management partnership.

Results and dividends

The profit for the year, after taxation, amounted to £3,201,065 (2024: £2,539,287).

Dividends of £1,300,000 were paid to Shareholders on 24 May 2024 and £1,001,000 on 15 October 2024 (2024: total dividends of £1,111,500). A final dividend of £650,000 is proposed (2024: £1,300,000).

Directors

The directors who served during the year were:

C. Fernando 
M. Myles 
S. Nichols 
R. Cheung (1) 

(1) The executive of Silchester Partners Limited, owner of 100% of the ordinary A shares.
G. Arrigoni was appointed as a director on 7 April 2025.
 
Directors' responsibilities statement

The directors are responsible for preparing the directors' report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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 transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the
Page 1

 

EDGBASTON PARTNERS LIMITED

DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025

prevention and detection of fraud and other irregularities.

Insurance

The Company maintains professional indemnity and crime insurance cover at a level the Directors consider appropriate for the business.

Disclosure of information to auditors

Each of the persons who are directors at the time when this directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

Under section 487(2) of the Companies Act 2006Blick Rothenberg Audit LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 23 May 2025 and signed on its behalf.
 





C. Fernando
Director
M. Myles
Director

Page 2

 

EDGBASTON PARTNERS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EDGBASTON PARTNERS LIMITED
 FOR THE YEAR ENDED 31 MARCH 2025

Opinion
We have audited the financial statements of Edgbaston Partners Limited (the 'Company') for the year ended 31 March 2025, which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and the related notes, including a summary of significant accounting policiesThe 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 Company's affairs as at 31 March 2025 and of its profit for the year 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 Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 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 other information comprises the information included in the Annual Report other than the financial statements and our auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur 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. 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 course of 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.

Opinion 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 directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the directors' report has been prepared in accordance with applicable legal requirements.

Page 3

 

EDGBASTON PARTNERS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EDGBASTON PARTNERS LIMITED (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

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

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the 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; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.

Responsibilities of directors
As explained more fully in the directors' responsibilities statement set out on page 1, 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 is 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 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 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 an auditors' report 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, and noncompliance with laws and regulations, our procedures included the following: enquiring of management concerning the Company’s policies with regards identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; enquiring of management concerning the
Company’s policies detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; enquiring of management concerning the Company’s policies in relation to the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations; discussing among the engagement team where fraud might occur in the financial statements and any potential indicators of fraud; and obtaining an understanding of the legal and regulatory framework that the Company operates in and focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the Company. The key laws and regulations we considered in this context included the UK Companies Act and applicable tax legislation.
A particular focus area included the risk of fraud through management override of controls. Our procedures to respond to risks identified included the following: performing analytical procedures to identify any unusual or
Page 4

 

EDGBASTON PARTNERS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EDGBASTON PARTNERS LIMITED (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025

unexpected relationships that may indicate risks of material misstatement due to fraud; reviewing the bank statements of the Company for evidence of any large or unusual activity which may be indicative of fraud; enquiring of management in relation to any potential litigation and claims; and testing the appropriateness of journal entries and other adjustments.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 auditors' report.




Shaun Melvin (senior statutory auditor)
  
for and on behalf of
Blick Rothenberg Audit LLP
 
Chartered Accountants
Statutory Auditor
  
16 Great Queen Street
Covent Garden
London
WC2B 5AH

2 June 2025
Page 5

 

EDGBASTON PARTNERS LIMITED
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025

2025
2024
Note
£
£

  

Profit distribution from the Partnership
 3 
2,098,001
2,762,441

Administrative expenses
  
(32,042)
(24,713)

Operating profit
 4 
2,065,959
2,737,728

Dividend income from securities
  
749,833
814,306

Unrealised gain/(loss) on investments
  
1,145,029
(523,671)

Interest receivable and similar income
  
66,145
66,660

Profit before tax
  
4,026,966
3,095,023

Tax on profit
 6 
(825,901)
(555,736)

Profit for the financial year
  
3,201,065
2,539,287

There was no other comprehensive income for 2025 or 2024.

The notes on pages 9 to 14 form part of these financial statements.

Page 6


 
REGISTERED NUMBER:06572285
EDGBASTON PARTNERS LIMITED

BALANCE SHEET
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Fixed asset investments
  
24,070,671
22,175,809

Current assets
  

Debtors: amounts falling due within one year
 8 
878,911
667,858

Cash at bank and in hand
  
1,249,473
2,267,015

  
2,128,384
2,934,873

Creditors: amounts falling due within one year
 9 
(235,542)
(347,093)

Net current assets
  
 
 
1,892,842
 
 
2,587,780

Total assets less current liabilities
  
25,963,513
24,763,589

Provisions for liabilities
  

Deferred tax
 10 
(560,674)
(260,815)

Net assets
  
25,402,839
24,502,774


Capital and reserves
  

Called up share capital 
 11 
650,000
650,000

Revaluation reserve
  
2,054,599
909,570

Profit and loss account
  
22,698,240
22,943,204

  
25,402,839
24,502,774


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 May 2025.




C. Fernando
M. Myles
Director
Director

The notes on pages 9 to 14 form part of these financial statements.

Page 7

 

EDGBASTON PARTNERS LIMITED

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 April 2023
650,000
1,433,241
20,991,746
23,074,987



Profit for the year
-
-
2,539,287
2,539,287

Dividends: Equity capital
-
-
(1,111,500)
(1,111,500)

Reallocation of unrealised losses on investments
-
(523,671)
523,671
-



At 1 April 2024
650,000
909,570
22,943,204
24,502,774



Profit for the year
-
-
3,201,065
3,201,065

Dividends: Equity capital
-
-
(2,301,000)
(2,301,000)

Reallocation of realised gains on investments
-
1,145,029
(1,145,029)
-


At 31 March 2025
650,000
2,054,599
22,698,240
25,402,839


The notes on pages 9 to 14 form part of these financial statements.

Page 8

 

EDGBASTON PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

The Company is a United Kingdom private company limited by shares. It is both incorporated and domiciled in England and Wales. The address of its registered office is 105 Piccadilly, London W1J 7NJ.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The Directors do not consider there to be any key accounting estimates or judgements that materially affect the financial statements.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors have assessed a period of 12 months from the date of approval of the financial statements and are satisfied that no material uncertainties exist that cast significant doubt about the ability of the Company to continue as a going concern. The Directors have adopted the going concern basis of accounting in preparing the financial statements.

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.4

Valuation of investments

Investments in unlisted commingled funds, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Page 9

 

EDGBASTON PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.5

Investments in associates

Investments in associates are held at cost less impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.


Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 10

 

EDGBASTON PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

3.


Distributions from the Partnership




2025
2024
£
£

Income profit distribution from the Partnership
2,011,168
2,659,919

Capital profit distribution from the Partnership
86,833
102,522

2,098,001
2,762,441


The distribution of income and capital profits from the Partnership. The term “capital profits or losses” means any profits or losses that arise from the disposal or part disposal, of any business asset as well as any interest, dividend income, or other capital gain or losses derived from capital howsoever employed.


4.


Operating profit

The operating profit is stated after charging:

2025
2024
£
£

Auditor’s remuneration - corporate audit
10,500
10,000


5.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2024 - £NIL)

6.


Taxation


2025
2024
£
£

Current tax


UK corporation tax on profits for the year
526,043
695,092


526,043
695,092


Total current tax
526,043
695,092

Deferred tax


Origination and reversal of timing differences
299,858
(139,356)

Total deferred tax
299,858
(139,356)


Tax on profit
825,901
555,736
Page 11

 

EDGBASTON PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
 
6.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year differs from the standard rate of corporation tax in the UK of 25% (2024 - 
25%). The differences are explained below:

2025
2024
£
£


Profit on ordinary activities before tax
4,026,966
3,095,023


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)
1,006,742
773,756

Effects of:


Non-taxable income
(187,458)
(203,577)

Difference between accounting and taxable profits allocated by the Partnership
6,617
(14,443)

Total tax charge for the year
825,901
555,736


7.


Fixed asset investments





Investments in associates
Investments in funds and equities
Total

£
£
£



Cost or valuation


At 1 April 2024
1,500,000
20,675,809
22,175,809


Additions
-
749,833
749,833


Revaluations
-
1,145,029
1,145,029



At 31 March 2025
1,500,000
22,570,671
24,070,671




All investments are unlisted.
Investments in associates are held at cost less impairment as fair value cannot be reliably determined. The investment in associated undertaking relates to a 90.9% (2024: 90.9%) partnership interest in the Partnership. Although the Company holds a 90.9% interest in the capital of the Partnership it does not control the Partnership, and accordingly the Partnership is treated as an associate.


8.


Debtors

2025
2024
£
£


Amounts owed by associated undertakings
874,833
667,834
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EDGBASTON PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

8.Debtors (continued)


Other debtors
4,078
24

878,911
667,858



9.


Creditors: Amounts falling due within one year

2025
2024
£
£

Corporation tax
212,042
325,093

Accruals and deferred income
23,500
22,000

235,542
347,093


Page 13

 

EDGBASTON PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

10.


Deferred taxation




2025
2024


£

£






At beginning of year
(260,816)
(400,171)


Charged to profit or loss
(299,858)
139,356



At end of year
(560,674)
(260,815)

The deferred tax balance is made up as follows:

2025
2024
£
£


Timing differences on fixed assets
3,333
2,590

Pension contributions
3,000
3,000

Unrealised gains on unlisted investments
(567,007)
(266,405)

(560,674)
(260,815)



11.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



324,350 (2024 - 324,350) A Ordinary shares shares of £1.00 each
324,350
324,350
325,650 (2024 - 325,650) B Ordinary shares shares of £1.00 each
325,650
325,650

650,000

650,000

The voting rights of the A shareholders are restricted to 9.9% of the total voting rights attributable to the share capital of the company.
The shares have equal dividend rights with any declared dividend being split between the share classes in proportion to the number of allotted shares.



12.


Related party transactions

During the year ended 31 March 2025, income and capital profits payable by the Partnership to the Company amounted to £2,098,001 (2024: £2,762,451). At 31 March 2025, the Partnership owed the Company income and capital profits of £874,833 (2024: £667,834 ).


13.


Controlling party

Charu Fernando is the chairman and with her family, the controlling shareholder of the Company

Page 14