REGISTERED NUMBER: 04432176 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

Willoughby 395 Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C A Butterfield FCA

J M Butterfield

SECRETARY:

J M Butterfield

REGISTERED OFFICE:

North Lodge Farm

Widmerpool Lane

Widmerpool

Nottingham

NG12 5QE

REGISTERED NUMBER:

04432176 (England and Wales)

ACCOUNTANTS:

Mellor Oxland LLP

Hine House

25 Regent Street

Nottingham

Nottinghamshire

NG1 5BS

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

11,800,639

11,812,269

11,800,639

11,812,269

CURRENT ASSETS

Stocks

150,088

220,045

Debtors

6

822,522

916,248

Prepayments and accrued income

14,696

13,570

Cash at bank

145,507

133,302

1,132,813

1,283,165

CREDITORS

Amounts falling due within one year

7

162,929

140,104

NET CURRENT ASSETS

969,884

1,143,061

TOTAL ASSETS LESS CURRENT LIABILITIES

12,770,523

12,955,330

CREDITORS

Amounts falling due after more than one year

8

3,064,689

3,066,127

NET ASSETS

9,705,834

9,889,203

CAPITAL AND RESERVES

Called up share capital

200

200

Share premium

2,089,998

2,089,998

Revaluation reserve

11

2,468,372

2,468,372

Retained earnings

5,147,264

5,330,633

9,705,834

9,889,203

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2025 and were signed on its behalf by:

C A Butterfield FCA - Director

1.	STATUTORY INFORMATION

Willoughby 395 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Other intangibles are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

in accordance with the property

Plant and machinery etc

-

at variable rates on reducing balance and at varying rates on cost

Freehold property was revalued in April 2014 by Savills. The carrying value of these assets represents the deemed cost at the date of transition to FRS102 (Section 1A). Deferred tax has been provided on the revalued amounts from the date of transition and reflected in the Revaluation Reserve.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. As there are now sufficient tax losses available which could be utilised to reduce deferred tax liabilities to an immaterial amount, it is not currently necessary to provide for any deferred tax liabilities.

Basic payment scheme

This has been capitalised as an intangible asset and is written off in equal instalments over its estimated useful economic life.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

139,971

AMORTISATION

At 1 April 2024

and 31 March 2025

139,971

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

11,712,002

991,264

12,703,266

Additions

9,077

90,190

99,267

Disposals

(4,008

)

(14,650

)

(18,658

)

At 31 March 2025

11,717,071

1,066,804

12,783,875

DEPRECIATION

At 1 April 2024

433,238

457,759

890,997

Charge for year

30,341

70,721

101,062

Eliminated on disposal

-

(8,823

)

(8,823

)

At 31 March 2025

463,579

519,657

983,236

NET BOOK VALUE

At 31 March 2025

11,253,492

547,147

11,800,639

At 31 March 2024

11,278,764

533,505

11,812,269

Cost or valuation for Freehold Property includes an increase of £2,468,372 for the revaluation in 2014. All other assets are shown at cost.

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

16,963

3,735

Other debtors

15,613

-

32,576

3,735

2025

2024

£

£

Amounts falling due after more than one year:

Amounts owed by associates

750,000

750,000

Other debtors

39,946

162,513

789,946

912,513

Aggregate amounts

822,522

916,248

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Finance leases (see note 9)

33,196

50,825

Trade creditors

73,694

44,257

Amounts owed to group undertakings

100

100

Social security and other taxes

3,380

-

VAT

-

37

Other creditors

52,239

44,885

Directors' current accounts

320

-

162,929

140,104

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans more 5 yrs non-inst

3,030,000

3,030,000

Finance leases (see note 9)

34,689

36,127

3,064,689

3,066,127

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

3,030,000

3,030,000

C A Butterfield FCA and J M Butterfield have given a joint and several guarantee in respect of the bank loans for a total of £500,000.

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases

2025

2024

£

£

Net obligations repayable:

Within one year

33,196

50,825

Between one and five years

34,689

36,127

67,885

86,952

Non-cancellable

operating leases

2025

2024

£

£

Within one year

7,847

6,719

Between one and five years

10,328

1,324

18,175

8,043

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

3,030,000

3,030,000

11.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

2,468,372

12.	CONTINGENT LIABILITIES

The company has provided a guarantee secured on some of the freehold land owned by the company in respect of the personal borrowings of C A Butterfield FCA and J M Butterfield. The maximum liability which may result under the guarantee is £300,000. However the directors consider the likelihood of a claim being made remote.

13.	RELATED PARTY DISCLOSURES

Debtors includes a balance of £33,496 (2024 £156,027) due from Willoughby 395 (EBK) Limited.

The company charged interest of £112,500 (2024 £112,500) to Evenbrook Capital Partners Limited and at the year end the amount owed to the company was £750,000 (2024 £750,000). C A Butterfield FCA is one of the directors of Evenbrook Capital Partners Limited.

The company is a wholly owned subsidiary of Willoughby 395 (NLF) Limited, which is registered in England and Wales under company number 08948545.