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Company No: 00326356 (England and Wales)

# SADBOROW ESTATE LIMITED

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

SADBOROW ESTATE LIMITED

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

SADBOROW ESTATE LIMITED

## BALANCE SHEET

As at 31 March 2025
SADBOROW ESTATE LIMITED

## BALANCE SHEET (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 193,692 |  | 207,105
Investment property | 4 | 5,570,000 |  | 5,570,000
Investments | 5 | 53,348 |  | 50,514
|  | 5,817,040 |  | 5,827,619
Current assets |  |  |  |
Debtors | 6 | 275,531 |  | 309,095
Cash at bank and in hand |  | 100,968 |  | 158,892
|  | 376,499 |  | 467,987
Creditors: amounts falling due within one year | 7 | ( 1,062,170) |  | ( 1,053,091)
Net current liabilities |  | (685,671) |  | (585,104)
Total assets less current liabilities |  | 5,131,369 |  | 5,242,515
Provision for liabilities |  | ( 380,666) |  | ( 379,870)
Net assets |  | 4,750,703 |  | 4,862,645
Capital and reserves |  |  |  |
Called-up share capital | 8 | 83,199 |  | 83,199
Share premium account |  | 772,731 |  | 772,731
Profit and loss account |  | 3,894,773 |  | 4,006,715
Total shareholders' funds |  | 4,750,703 |  | 4,862,645

Included within the profit and loss account are undistributable reserves totalling £2,493,993 (2024: £2,581,521) in relation to fair value gains on investment property and listed investments.

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 members have 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 Sadborow Estate Limited (registered number: 00326356) were approved and authorised for issue by the Board of Directors on 02 December 2025. They were signed on its behalf by:

Mr C G S Eyre Director |

SADBOROW ESTATE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
SADBOROW ESTATE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 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

Sadborow Estate 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 Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is Sadborow, Chard, Somerset, TA20 4PW.
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 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, which is stated net of value added tax, represents:
a) Property rental income recognised on a straight line basis over the life of the lease; and,
b) The fair value of the consideration received or receivable for goods sold or services provided in the ordinary course of the company's activities during the accounting period.

##### 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

##### 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 straight-line basis over its expected useful life, as follows:

Land and buildings | not depreciated
Plant and machinery | 5 years straight line
Vehicles | 5 years straight line
Fixtures and fittings | 4 - 10 years straight line

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 Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings 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.

##### 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.

##### 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.

##### Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

##### 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

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 0 |  | 0

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |
At 01 April 2024 | 1,191 |  | 721,392 |  | 31,321 |  | 75,450 |  | 829,354
Additions | 0 |  | 52,674 |  | 0 |  | 880 |  | 53,554
Disposals | 0 |  | ( 28,500) |  | 0 |  | 0 |  | ( 28,500)
At 31 March 2025 | 1,191 |  | 745,566 |  | 31,321 |  | 76,330 |  | 854,408
Accumulated depreciation |  |  |  |  |  |  |  |  |
At 01 April 2024 | 0 |  | 565,981 |  | 31,321 |  | 24,947 |  | 622,249
Charge for the financial year | 0 |  | 45,705 |  | 0 |  | 6,845 |  | 52,550
Disposals | 0 |  | ( 14,083) |  | 0 |  | 0 |  | ( 14,083)
At 31 March 2025 | 0 |  | 597,603 |  | 31,321 |  | 31,792 |  | 660,716
Net book value |  |  |  |  |  |  |  |  |
At 31 March 2025 | 1,191 |  | 147,963 |  | 0 |  | 44,538 |  | 193,692
At 31 March 2024 | 1,191 |  | 155,411 |  | 0 |  | 50,503 |  | 207,105

#### 4. Investment property

| Investment property
| £
Valuation |
As at 01 April 2024 | 5,570,000
Additions | 152,378
Fair value movement | (152,378)
As at 31 March 2025 | 5,570,000

Valuation

Investment property is stated at fair value at 31 March 2025, as estimated by the directors. The directors have determined the fair value of the investment properties using current market data for comparable real estate based on observable market prices, adjusted where necessary for any differences in nature, location or condition.

#### 5. Fixed asset investments

| Listed investments |  | Total
| £ |  | £
Cost or valuation before impairment |  |  |
At 01 April 2024 | 50,514 |  | 50,514
Movement in fair value | 2,834 |  | 2,834
At 31 March 2025 | 53,348 |  | 53,348
Carrying value at 31 March 2025 | 53,348 |  | 53,348
Carrying value at 31 March 2024 | 50,514 |  | 50,514

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 406 |  | 880
Prepayments and accrued income | 27,451 |  | 42,423
VAT recoverable | 0 |  | 6,799
Other debtors | 247,674 |  | 258,993
| 275,531 |  | 309,095

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 16,968 |  | 86,349
Amounts owed to connected companies | 92,931 |  | 92,931
Amounts owed to related parties | 7,550 |  | 7,550
Amounts owed to directors | 906,186 |  | 842,197
Accruals | 18,046 |  | 11,064
Other taxation and social security | 7,489 |  | 0
Other creditors | 13,000 |  | 13,000
| 1,062,170 |  | 1,053,091

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
20,533 A Ordinary shares of £ 1.00 each | 20,533 |  | 20,533
24,266 B Ordinary shares of £ 1.00 each | 24,266 |  | 24,266
12,000 C Ordinary shares of £ 1.00 each | 12,000 |  | 12,000
26,400 D Ordinary shares of £ 1.00 each | 26,400 |  | 26,400
| 83,199 |  | 83,199

#### 9. Related party transactions

Other debtors includes a balance of £245,000 (2024- £245,000) owed by a company under common control. The balance is interest free and repayable on demand.
Other creditors include a loan totalling £92,931 (2024- £92,931) from a company under common control of the directors' family which was outstanding at the year end. Interest was charged on the loan at base rate + 1.5%
Creditors also includes a loan from the director totalling £906,186 (2024- £842,197). The balance is interest free and repayable on demand.