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Company No: 05575493 (England and Wales)

# TOWNSEND PADDOCK LIMITED

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

TOWNSEND PADDOCK LIMITED

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

TOWNSEND PADDOCK LIMITED

## COMPANY INFORMATION

For the financial year ended 31 March 2025
TOWNSEND PADDOCK LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 31 March 2025

DIRECTORS | Mr Stephen David Russell
| Miss Sarah Ann Russell

SECRETARY | Miss Sarah Ann Russell

REGISTERED OFFICE | 82 Station Road
| Soham
| Ely
| CB7 5DZ
| United Kingdom

BUSINESS ADDRESS | 3 The Birches
| Soham
| Cambridgeshire
| CB7 5DZ

COMPANY NUMBER | 05575493 (England and Wales)

ACCOUNTANT | Corbett Accountants Limited
| Bakersfield
| 82 Station Road
| Soham
| Ely
| Cambridgeshire
| CB7 5DZ

TOWNSEND PADDOCK LIMITED

## BALANCE SHEET

As at 31 March 2025
TOWNSEND PADDOCK LIMITED

## BALANCE SHEET (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Investment property | 3 | 8,318,875 |  | 7,318,875
|  | 8,318,875 |  | 7,318,875
Current assets |  |  |  |
Debtors | 4 | 5,005 |  | 6,067
Investments | 5 | 779,109 |  | 779,109
Cash at bank and in hand |  | 20,815 |  | 7,799
|  | 804,929 |  | 792,975
Creditors: amounts falling due within one year | 6 | ( 3,116,935) |  | ( 2,417,055)
Net current liabilities |  | (2,312,006) |  | (1,624,080)
Total assets less current liabilities |  | 6,006,869 |  | 5,694,795
Creditors: amounts falling due after more than one year | 7 | ( 3,629,381) |  | ( 3,341,345)
Provision for liabilities | 8 | ( 247,300) |  | ( 247,300)
Net assets |  | 2,130,188 |  | 2,106,150
Capital and reserves |  |  |  |
Called-up share capital | 9 | 3 |  | 3
Revaluation reserve |  | 1,349,524 |  | 1,349,524
Profit and loss account |  | 780,661 |  | 756,623
Total shareholders' funds |  | 2,130,188 |  | 2,106,150

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 financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Townsend Paddock Limited (registered number: 05575493) were approved and authorised for issue by the Board of Directors on 30 June 2025. They were signed on its behalf by:

Mr Stephen David Russell Director |

TOWNSEND PADDOCK LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
TOWNSEND PADDOCK LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Townsend Paddock Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 82 Station Road, Soham, Ely, CB7 5DZ, United Kingdom. The principal place of business is 3 The Birches, Soham, Cambridgeshire, CB7 5DZ.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 5 |  | 5

#### 3. Investment property

| Investment property
| £
Valuation |
As at 01 April 2024 | 7,318,875
Additions | 1,000,000
As at 31 March 2025 | 8,318,875

Valuation

A full market valuation of investment property was completed by [insert date] at the Balance Sheet date. As a result of the valuation a number of properties prior period impairments were reversed. The fair value of the Group’s residential investment property at 31 March 2025 have been arrived at on the basis of valuations carried out on that date by external valuers having appropriate relevant professional qualifications and recent experience in the location and category of property being valued. The valuations performed which conform to the Valuations Standards of the Royal Institution of Chartered Surveyors and with the International Valuations Standards (IVS) 2013 were arrived at by reference to market evidence of transaction prices for similar properties. The comparison approach was used for all residential properties which involved reviewing recent market evidence from the sales of similar properties during the period.
For commercial investment property, the yield methodology was used which involved applying market derived capitalisation yields to current and market derived future income streams with appropriate adjustments for income voids arising from vacancies or rent free periods. These capitalisation yields and future income streams are derived from comparable property and leasing transactions.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 5,005 |  | 6,067

#### 5. Current asset investments

| 2025 |  | 2024
| £ |  | £
Other investments – at cost less impairment | 779,109 |  | 779,109

Townsend Paddock Limited own a 50% share of Russell & Townsend Development Partnership. Mr Stephen David Russell, director and majority shareholder of Townsend Paddock Limited, is the other 50% partner of Russell & Townsend Development Partnership.

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 17,269 |  | 20,295
Amounts owed to Group undertakings | 329,613 |  | 329,613
Amounts owed to directors | 2,762,653 |  | 2,047,987
Corporation tax | 6,966 |  | 18,726
Other taxation and social security | 434 |  | 434
| 3,116,935 |  | 2,417,055

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 3,629,381 |  | 3,341,345

Included in creditors are secured liabilities totalling £3,629,381 (2024 - £3,341,345). The company's financiers hold 12 charges over the company's freehold properties.

#### 8. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | 247,300 |  | 247,300

#### 9. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
3 Ordinary shares of £ 1.00 each | 3 |  | 3

#### 10. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Included within creditors is a directors' loan payable to Mr SD Russell and Miss SA Russell. | 2,762,653 |  | 2,047,987
During the year the company charged Mr SD Russell and Miss SA Russell for the management of their rental properties. | 21,453 |  | 19,473