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Registration number: 00706454

Humphris (Banbury) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Humphris (Banbury) Limited

(Registration number: 00706454)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

12,144

15,299

Investment property

5

28,271,850

27,050,850

Other financial assets

7

540,065

530,680

 

28,824,059

27,596,829

Current assets

 

Debtors

8

162,247

125,676

Cash at bank and in hand

 

987,544

340,709

 

1,149,791

466,385

Creditors: Amounts falling due within one year

9

(487,802)

(362,504)

Net current assets

 

661,989

103,881

Total assets less current liabilities

 

29,486,048

27,700,710

Provisions for liabilities

(3,344,644)

(2,968,147)

Net assets

 

26,141,404

24,732,563

Capital and reserves

 

Called up share capital

10

60,000

60,000

Retained earnings

26,081,404

24,672,563

Shareholders' funds

 

26,141,404

24,732,563

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Humphris (Banbury) Limited

(Registration number: 00706454)
Balance Sheet as at 31 March 2025 (continued)

Approved and authorised by the Board on 24 July 2025 and signed on its behalf by:
 

C J Humphris
Director

M A Humphris
Director

 
     
 

Humphris (Banbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Colin Sanders Business Innovation Centre
Mewburn Road
Banbury
Oxon
OX16 9PA

These financial statements were authorised for issue by the Board on 24 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006 as applicable to companies subject to the small companies regime . The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Revenue recognition

Turnover derived from ordinary activities represents the rents receivable. The company is not registered for VAT. Income is recognised when the right to rent falls due under the terms of the tenancy agreements.

 

Humphris (Banbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred 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.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost and subsequently measured at cost or valuation, net of depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

15% reducing balance

Furniture, fittings and equipment

20% straight line

Motor vehicles

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Humphris (Banbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Investments

Loans and managed funds 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from tenants in respect of rents due.

Trade debtors are recognised initially at the transaction price and subsequently adjusted for any provisions for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Humphris (Banbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2024 - 13).

 

Humphris (Banbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4

Tangible assets

Plant and machinery
£

Cost or valuation

At 1 April 2024

137,299

Additions

418

At 31 March 2025

137,717

Depreciation

At 1 April 2024

122,000

Charge for the year

3,573

At 31 March 2025

125,573

Carrying amount

At 31 March 2025

12,144

At 31 March 2024

15,299

 

Humphris (Banbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

5

Investment properties

2025
£

At 1 April

27,050,850

Additions

355,702

Disposals

(395,000)

Fair value adjustments

1,260,298

At 31 March

28,271,850

The investment properties comprise a portfolio of residential and commercial buildings. The fair value of the investment properties has been arrived at on the basis of a valuation carried out on 31 March 2025 by C J Humphris, a director of the company. The valuation has been made on an open market value basis by reference to market evidence of transaction price for similar properties, and subject to:

1. properties having assured short-hold leases are valued at vacant possession value, discounted by 10% for sitting tenancies.

2. registered rental properties and commercial properties are valued based upon rates of rental return assessed for individual properties.

There has been no valuation of investment property by an independent valuer.

6

Investments

Other investments

The market value of the listed investments at 31 March 2025 was £540,065 (2024 - £530,680).

 

Humphris (Banbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

7

Other financial assets (current and non-current)

Investments other than loans
£

Non-current financial assets

Valuation

At 1 April 2024

530,680

Fair value adjustments

5,136

Additions

6,960

Disposals

(2,711)

At 31 March 2025

540,065

8

Debtors

Current

2025
£

2024
£

Trade debtors

116,765

112,179

Prepayments

12,496

13,177

Other debtors

32,986

320

 

162,247

125,676

9

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Taxation and social security

321,796

197,103

Accruals and deferred income

11,598

12,022

Other creditors

154,408

153,379

487,802

362,504

 

Humphris (Banbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

10

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

60,000

60,000

60,000

60,000