Company registration number 04295225 (England and Wales)
SUREBIND LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SUREBIND LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 7
SUREBIND LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
31 December 2024
31 March 2024
Notes
£
£
£
£
Fixed assets
Investments
3
666,714
736,470
Current assets
Debtors
4
2,400,295
5,333,832
Investments
5
732,550
691,102
Cash at bank and in hand
4,035,505
992,199
7,168,350
7,017,133
Creditors: amounts falling due within one year
6
(236,928)
(4,656,444)
Net current assets
6,931,422
2,360,689
Net assets
7,598,136
3,097,159
Capital and reserves
Called up share capital
7
100
100
Other reserves
8
(84,030)
(14,274)
Profit and loss reserves
8
7,682,066
3,111,333
Total equity
7,598,136
3,097,159

For the financial Period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the Period in question 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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 4 November 2025 and are signed on its behalf by:
S C Kelly
Director
Company registration number 04295225 (England and Wales)
SUREBIND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Surebind Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Leman Street, London, United Kingdom, E1W 9US. The principal place of business is Wenman's Cottage, Glassenbury Road, Kent, TN17 2QF.

1.1
Reporting period

The financial statements cover the period from 1 April 202 4 to 31 December 2024. The reporting period was shortened to 31 December 2024 to bring it in line with the company’s activities. The comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

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.

1.3
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover represents amounts receivable for rent.

Turnover from rents receivable is recognised at the fair value of the rents received or receivable based on the rent agreements and to the extent that it is probable that the economic benefits will flow to the company and it can be reliably measured.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.

SUREBIND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -

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.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

The fair value is determined by the directors with the benefit of professional external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any differences in the nature or location of the specified asset.

1.6
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at banks .

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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.

SUREBIND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

SUREBIND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

31 December
31 March
2024
2024
Number
Number
Total
2
2
3
Fixed asset investments
31 December
31 March
2024
2024
£
£
Shares in group undertakings and participating interests
3
3
Other investments other than loans
666,711
736,467
666,714
736,470

Included within 'other investments other than loans' includes investments in listed entities that are recorded at market value by reference to the stock price as at the year end.

Movements in fixed asset investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 April 2024
3
736,467
736,470
Valuation changes
-
(69,756)
(69,756)
At 31 December 2024
3
666,711
666,714
Carrying amount
At 31 December 2024
3
666,711
666,714
At 31 March 2024
3
736,467
736,470
4
Debtors
31 December
31 March
2024
2024
Amounts falling due within one year:
£
£
Other debtors
2,400,295
5,333,832

Trade debtors disclosed above are measured at amortised cost.

SUREBIND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
4
Debtors
(Continued)
- 6 -

Included within other debtors is a balance of £307,043 (March 2024: £600,08 5) due from connected companies that is unsecured, interest free, has no fixed date of repayment and is repayable on demand.

Included within other debtors is a balance of £nil (March 2024: £1,300,000 ) due from connected parties. Interest is charged at the HM Revenue & Customs official rate. The loan is unsecured and repayable on demand.

Included within other debtors is a balance of £nil (March 2024: £1,033,691) due from a connected company. The balance is unsecured and is repayable 3-5 years from 20 January 2022. Interest is charged at 5% per annum.

Included in other debtors is a loan balance of £444,404 (March 2024: £400,895) due from unconnected third parties that is secured by a second ranking legal charge and has no fixed date of repayment. Interest is charged at 7% per annum.

Included in other debtors is a loan balance of £135,986 (March 2024: £143,943) due from unconnected third parties that is unsecured and has no fixed date of repayment. Interest is charged at 6.75% per annum.

Included in other debtors is a loan balance of £1,500,000 (March 2024: £1,555,904) due from unconnected third party. Interest is charged at 7% per annum.

Included in other debtors is a loan balance of £nil (March 2024: £291,448) owed by the director. Interest is charged at the HM Revenue & Customs official rate. The loan is unsecured and repayable on demand.

5
Current asset investments
31 December
31 March
2024
2024
£
£
Other investments
732,550
691,102
6
Creditors: amounts falling due within one year
31 December
31 March
2024
2024
£
£
Trade creditors
334
-
0
Amounts owed to group undertakings
846
4,609,829
Taxation and social security
20,236
33,535
Other creditors
215,512
13,080
236,928
4,656,444

Included within amounts due to group undertakings is a loan amount of £846 (March 2024: £4,609,829) that is unsecured, interest free, has no fixed date of repayment and is repayable on demand.

Included in other creditors is a loan balance of £3,903 (March 2024: £nil) owed to the director. The loan is unsecured, interest free, has no fixed date of repayment and is repayable on demand.

Included within other creditors is a balance of £207,758 (March 2024: £nil) due to connected company that is unsecured, interest free, has no fixed date of repayment and is repayable on demand.

SUREBIND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 7 -
7
Called up share capital
31 December
31 March
31 December
31 March
2024
2024
2024
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100

There is a single class of Ordinary shares. There are no restrictions on the distribution of dividends and repayment of capital.

8
Reserves
Other reserve

Other reserves relates to non-distributable reserves arising from revaluation of investment property less deferred tax.

Profit and loss reserves

Retained earnings represents accumulated comprehensive income for the year and prior periods less dividends paid.

9
Related party transactions
Transactions with related parties
Sale of investment properties
31 December
31 March
2024
2024
£
£
Key management personnel
-
1,800,000

31 December
31 March
2024
2024
Amounts due to related parties
£
£
Entities over which the entity has control, joint control or significant influence
846
4,609,829
Key management personnel
3,903
-
Other related parties
207,758
-

The following amounts were outstanding at the reporting end date:

31 December
31 March
2024
2024
Amounts due from related parties
£
£
Other related parties
307,043
2,537,826
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