REGISTERED NUMBER: 01104331 (England and Wales)

A. & B. PRIEST LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

4

DIRECTORS:

Mrs B M Priest

Mrs C A Thompson

SECRETARY:

Mrs C A Thompson

REGISTERED OFFICE:

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

REGISTERED NUMBER:

01104331 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

BANKERS:

HSBC Bank Plc

88 Westgate

Grantham

Lincolnshire

NG31 6LF

FIXED ASSETS

Investment property

4

1,203,408

1,007,000

CURRENT ASSETS

Debtors

5

4,573

4,010

Cash at bank

173,804

329,035

178,377

333,045

CREDITORS

Amounts falling due within one year

6

20,445

18,696

NET CURRENT ASSETS

157,932

314,349

TOTAL ASSETS LESS CURRENT LIABILITIES

1,361,340

1,321,349

PROVISIONS FOR LIABILITIES

46,278

46,278

NET ASSETS

1,315,062

1,275,071

CAPITAL AND RESERVES

Called up share capital

7

100

100

Fair value reserve

8

351,823

351,823

Retained earnings

963,139

923,148

SHAREHOLDERS' FUNDS

1,315,062

1,275,071

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2025 and were signed on its behalf by:

Mrs B M Priest - Director

1.	STATUTORY INFORMATION

A. & B. Priest 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.

Income from investments

Investment income comprises the fair value of rents received from the company's investment properties which is recognised in the period receivable.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 6 April 2024

1,007,000

Additions

196,408

At 5 April 2025

1,203,408

NET BOOK VALUE

At 5 April 2025

1,203,408

At 5 April 2024

1,007,000

Fair value at 5 April 2025 is represented by:

£

Valuation in 2025

398,101

Cost

805,307

1,203,408

The investment properties were valued by the directors as at 5 April 2025 by considering the fair values of recent, comparable property sales in the local area.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

2,766

2,665

Prepayments and accrued income

1,807

1,345

4,573

4,010

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation

9,380

8,403

Other taxes and social security

-

402

Directors' current accounts

1,367

1,145

Accruals and deferred income

9,698

8,746

20,445

18,696

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Fair

value

reserve

£

At 6 April 2024

and 5 April 2025

351,823

The aggregate surplus on re-measurement of investment properties , net of associated deferred tax, is transferred to a separate non-distributable reserve in order to assist with the identification of profits available for distribution.