Company No: 03170425 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

Director	R M Harris (Resigned 25 April 2025)
	L G Marks

Secretary

I Gadilhe

Registered office	2nd Floor
	168 Shoreditch High Street
	E1 6RA
	London
	United Kingdom

Company number

03170425 (England and Wales)

Accountant	Kreston Reeves LLP
	2nd Floor
	168 Shoreditch High Street
	London
	E1 6RA

	Note	2024		2023
		£		£
Fixed assets
Investments	3	1,274,864		1,333,202
		1,274,864		1,333,202
Current assets
Debtors	4	8,860,552		8,805,568
		8,860,552		8,805,568
Creditors: amounts falling due within one year	5	( 3,933,328)		( 3,930,328)
Net current assets		4,927,224		4,875,240
Total assets less current liabilities		6,202,088		6,208,442
Provision for liabilities	6	( 534)		( 3,144)
Net assets		6,201,554		6,205,298
Capital and reserves
Called-up share capital	7	500		500
Revaluation reserve		6,968		4,358
Capital redemption reserve		983		983
Profit and loss account		6,193,103		6,199,457
Total shareholders' funds		6,201,554		6,205,298

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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 Profit and Loss Account has not been delivered.

The financial statements of Barbridge Limited (registered number: 03170425) were approved and authorised for issue by the Director on 19 September 2025. They were signed on its behalf by:

L G Marks 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

Barbridge 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 2nd Floor, 168 Shoreditch High Street, E1 6RA, London, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Finance costs

Finance costs are charged to the Profit and Loss Account 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 Balance Sheet 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.

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 Profit and Loss Account as described below.

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.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Investments
Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, 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.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

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

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 January 2024	101
At 31 December 2024	101
Carrying value at 31 December 2024	101
Carrying value at 31 December 2023	101

	Listed investments		Investments in associates		Other investments		Total
	£		£		£		£
Cost or valuation before impairment
At 01 January 2024	826,256		83,031		423,814		1,333,101
Additions	262,862		0		0		262,862
Disposals	( 276,394)		0		( 56,201)		( 332,595)
Movement in fair value	18,773		0		( 4,774)		13,999
Share of profits	0		0		( 3,581)		( 3,581)
Foreign exchange movements	0		0		977		977
At 31 December 2024	831,497		83,031		360,235		1,274,763
Carrying value at 31 December 2024	831,497		83,031		360,235		1,274,763
Carrying value at 31 December 2023	826,256		83,031		423,814		1,333,101

4. Debtors

	2024		2023
	£		£
Amounts owed by Group undertakings	8,750,703		8,603,444
Other debtors	109,849		202,124
	8,860,552		8,805,568

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Amounts owed to Group undertakings	100		100
Accruals	5,760		2,760
Other creditors	3,927,468		3,927,468
	3,933,328		3,930,328

6. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 3,144)		( 3,144)
Credited to the Profit and Loss Account	2,610		0
At the end of financial year	( 534)		( 3,144)

The deferred taxation balance is made up as follows:

	2024		2023
	£		£
Revaluation of investments	( 534)		( 3,144)

7. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
5,000 Ordinary shares of £ 0.10 each	500		500

8. Related party transactions

As at the balance sheet date the company owed a former director of the company £3,927,468 (2023: £3,927,468), which is included within Creditors: "Other creditors".

9. Reserves

Revaluation reserve

The revaluation reserve is used to record the revaluation gains on investments, less any related provision for deferred taxation.

Capital redemption reserve

This reserve represents the repurchase of share capital in a previous year.

Profit & loss account

The Profit and loss account comprises all current and prior period retained profits and losses.

Share capital

This represents the nominal value of shares that have been issued by the company.

10. Ultimate controlling party

The company regards Barbridge Investments Limited, a company registered in England and Wales as its immediate and ultimate parent company.