Company No: 07779563 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	9,461		12,615
Investment property	4	7,310,000		6,765,000
		7,319,461		6,777,615
Current assets
Debtors
- due within one year	5	4,449		5,212
- due after more than one year	5	5,828,022		5,813,022
Cash at bank and in hand		726,190		715,287
		6,558,661		6,533,521
Creditors: amounts falling due within one year	6	( 449,720)		( 454,764)
Net current assets		6,108,941		6,078,757
Total assets less current liabilities		13,428,402		12,856,372
Creditors: amounts falling due after more than one year	7	( 6,468,628)		( 6,528,628)
Provision for liabilities	8	( 608,730)		( 601,118)
Net assets		6,351,044		5,726,626
Capital and reserves
Called-up share capital	9	1		1
Profit and loss account	11	6,351,043		5,726,625
Total shareholder's funds		6,351,044		5,726,626

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 member has 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 Income and Retained Earnings has not been delivered.

The financial statements of Cabot Mews Limited (registered number: 07779563) were approved and authorised for issue by the Board of Directors on 15 September 2025. They were signed on its behalf by:

Mr S M Davidson Director

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

Cabot Mews 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 Lobby Office 65 Redcross Village, Redcross Street, Bristol, BS2 0BB, United Kingdom.

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 £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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 Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 reducing balance basis over its expected useful life, as follows:

Vehicles	25 % reducing balance
Fixtures and fittings	25 % reducing balance

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.

Impairment of assets

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

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Investment property

Investment property are 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.

The fair value is determined annually by either external valuers or the Directors and derived from current market rent and investment property yields for comparable real estate, adjusted if necessary, for any difference in nature, location or condition of the specific property.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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 Statement of Financial Position 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Vehicles		Fixtures and fittings		Total
	£		£		£
Cost
At 01 April 2024	600		44,083		44,683
At 31 March 2025	600		44,083		44,683
Accumulated depreciation
At 01 April 2024	567		31,501		32,068
Charge for the financial year	8		3,146		3,154
At 31 March 2025	575		34,647		35,222
Net book value
At 31 March 2025	25		9,436		9,461
At 31 March 2024	33		12,582		12,615

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	6,765,000
Fair value movement	545,000
As at 31 March 2025	7,310,000

Valuation

Investment properties, which are all freehold, were revalued during the year, based on a valuation undertaken by Jones Lang LaSalle, an independent valuer with recent experience in the location and class of the investment property being valued.

5. Debtors

	2025		2024
	£		£
Debtors: amounts falling due within one year
Trade debtors	414		4,768
Prepayments	3,785		444
Other debtors	250		0
	4,449		5,212
Debtors: amounts falling due after more than one year
Amounts owed by Parent undertakings	5,828,022		5,813,022

Amounts owed by Parent undertakings are repayable in more than one year and do not bear interest.

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	6,093		2,935
Accruals and deferred income	433,145		433,146
Other taxation and social security	553		0
Other creditors	9,929		18,683
	449,720		454,764

There are no amounts included above in respect of which any security has been given by the small entity.

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

	2025		2024
	£		£
Bank loans (secured)	5,150,000		5,150,000
Amounts owed to directors	1,318,628		1,378,628
	6,468,628		6,528,628

Bank loans falling due after more than one year are secured by a fixed and floating charge over the property and undertakings of the company.

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 601,118)		( 647,530)
(Charged)/credited to the Statement of Income and Retained Earnings	( 7,612)		46,412
At the end of financial year	( 608,730)		( 601,118)

The deferred taxation balance is made up as follows:

	2025		2024
	£		£
Accelerated capital allowances	( 2,365)		( 3,154)
Revaluation of tangible assets	( 606,382)		( 597,964)
Other timing differences	17		0
	( 608,730)		( 601,118)

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1

10. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Amounts due to the directors	1,318,628		1,378,628

Interest was accruing on £1,000,000 of the total loan at a rate of 3.5% above the base rate up to the repayment date and £310,945 (2024: £310,945) has been accrued and is included in accruals and deferred income.

All other directors loans are unsecured with no fixed date for repayment.

The company has taken advantage of the exemption available under Section 1 a.c. 35 of FRS 102 to not disclose individual transactions within a wholly owned group.

11. Reserves

The profit and loss reserve includes both distributable and non-distributable reserves. Non-distributable reserves represents cumulative gains and losses on the revaluation of investment property, net of deferred tax. At the balance sheet date non-distributable reserves totalled £2,538,283 (2024: £2,129,533).