Company No: 11077417 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	43,619		47,871
Investment property	4	4,584,839		4,515,000
Investments	5	150		150
		4,628,608		4,563,021
Current assets
Debtors	6	233,808		124,381
Cash at bank and in hand		355,166		383,478
		588,974		507,859
Creditors: amounts falling due within one year	7	( 4,151,814)		( 4,093,656)
Net current liabilities		(3,562,840)		(3,585,797)
Total assets less current liabilities		1,065,768		977,224
Creditors: amounts falling due after more than one year	8	( 272,403)		( 347,396)
Provision for liabilities	9	( 178,340)		( 173,292)
Net assets		615,025		456,536
Capital and reserves
Called-up share capital		1,135		1,135
Share premium account		599,865		599,865
Undistributable reserve		585,823		585,823
Profit and loss account		( 571,798 )		( 730,287 )
Total shareholder's funds		615,025		456,536

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.

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 Profit and Loss Account has not been delivered.

The financial statements of Frome Business Park Limited (registered number: 11077417) were approved and authorised for issue by the Board of Directors on 30 September 2025. They were signed on its behalf by:

D Nicholson 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

Frome Business Park 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 Unit G1 Frome Business Park, Manor Road, Frome, BA11 4FN, 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 Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net current liabilities. The Company is supported through loans from the associated company. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the associated company will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met 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 represents rents receivable in relation to investment properties which is recognised in the period of occupation of the property by the tenant. Turnover is shown net of sales/value added tax and rebates.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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. Tax is recognised in the profit and loss account, 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.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. 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. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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:

Fixtures and fittings	25 % reducing balance
Computer equipment	33 % 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.

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 Profit and Loss Account 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.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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. 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.

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.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Ordinary share capital

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

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		4

3. Tangible assets

	Fixtures and fittings		Computer equipment		Total
	£		£		£
Cost
At 01 January 2024	191,225		9,730		200,955
Additions	7,978		0		7,978
At 31 December 2024	199,203		9,730		208,933
Accumulated depreciation
At 01 January 2024	144,586		8,498		153,084
Charge for the financial year	11,825		405		12,230
At 31 December 2024	156,411		8,903		165,314
Net book value
At 31 December 2024	42,792		827		43,619
At 31 December 2023	46,639		1,232		47,871

4. Investment property

	Investment property
	£
Valuation
As at 01 January 2024	4,515,000
Additions	69,839
As at 31 December 2024	4,584,839

Valuation

The value of investment property is derived from observable current market prices for comparable real estate determined by the directors. The assets have a current value of £4,584,839 (2023 - £4,515,000) and a carrying historic cost of £3,803,741 (2023 - £3,733,903).

5. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 January 2024	150
At 31 December 2024	150
Carrying value at 31 December 2024	150
Carrying value at 31 December 2023	150

6. Debtors

	2024		2023
	£		£
Trade debtors	9,226		11,027
Amounts owed by Group undertakings	209,720		109,242
Other debtors	14,862		4,112
	233,808		124,381

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans (secured)	74,021		71,249
Trade creditors	81,480		4,476
Amounts owed to related parties	3,717,275		3,717,275
Taxation and social security	48,510		20,723
Other creditors	230,528		279,933
	4,151,814		4,093,656

The bank loans above are secured by a fixed and floating charge over all the assets of the company.

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

	2024		2023
	£		£
Bank loans (secured)	272,403		347,396

The bank loans above are secured by a fixed and floating charge over all the assets of the company.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2024		2023
	£		£
Bank loans (secured)	0		71,754

9. Provision for liabilities

	2024		2023
	£		£
Deferred tax	178,340		173,292

10. Related party transactions

Transactions with the entity's directors

Advances

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 January 2024, the balance owed by the director was £10. During the year, £Nil was advanced to the director, and £10 was repaid by the director. At 31 December 2024, the balance owed by the director was £Nil.

At 1 January 2023, the balance owed by the director was £Nil. During the year, £20 was advanced to the director, and £10 was repaid by the director. At 31 December 2023, the balance owed by the director was £10.

Other related party transactions

	2024		2023
	£		£
Income received from DNA Worldwide Group Ltd	28,350		28,350
Income received from Living DNA Limited	4,000		4,000
Income received from DNA Legal Limited	71,460		73,504
Income received from DNA Workplace Limited	7,200		7,200

DNA Worldwide Group Ltd, Living DNA Limited, DNA Legal Limited and DNA Workplace Limited are associated companies of Frome Business Park Limited by virtue of D Nicholson being the ultimate controlling shareholder.

In addition to the amounts above, included under amounts owed to related parties is £3,717,275 as at 31 December 2024 which is owed to DNA Worldwide Group Ltd by Frome Business Park Limited. The value of this liability was £3,717,275 as at 31 December 2023 and there has been no movement in the year.

The company has taken advantage of the exemption under FRS 102 from disclosing related party transactions with other wholly owned group Companies.