REGISTERED NUMBER: 05620272 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

Napier Street (Bedford) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr T F Wells

Mr R Ashworth

Mr N F Wells

SECRETARY:

Mr R Ashworth

REGISTERED OFFICE:

Brewpoint

Fairhill

Bedford

Bedfordshire

MK41 7FY

REGISTERED NUMBER:

05620272 (England and Wales)

AUDITORS:

GH Audit Limited

Brigham House

93 High Street

Biggleswade

Bedfordshire

SG18 0LD

FIXED ASSETS

Investment property

5

2,437,027

1,915,000

CURRENT ASSETS

Debtors

6

45,618

70,007

Cash at bank

53,392

29,140

99,010

99,147

CREDITORS

Amounts falling due within one year

7

866,616

442,286

NET CURRENT LIABILITIES

(767,606

)

(343,139

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,669,421

1,571,861

PROVISIONS FOR LIABILITIES

8

112,670

112,670

NET ASSETS

1,556,751

1,459,191

CAPITAL AND RESERVES

Called up share capital

9

1

1

Non-distributable reserves

432,887

432,887

Retained earnings

1,123,863

1,026,303

SHAREHOLDERS' FUNDS

1,556,751

1,459,191

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 20 November 2025 and were signed on its behalf by:

Mr T F Wells - Director

1.	STATUTORY INFORMATION

Napier Street (Bedford) 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates

The directors have used their knowledge and experience to arrive at the fair value of the investment properties held.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. Revenue from the rental of investment properties is recognised evenly over the term of the lease.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The directors revalue Investment Property at each year end. Every third year the directors consider if there is a possibility that the fair value has materially altered since the last professional valuation and, where they consider this possible, the directors appoint an independent professional valuer to revalue the properties.

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.

Financial instruments

Loans with group companies are repayable on demand and therefore measured at cost less impairment with no adjustment made to discount future cash flows.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

1,915,000

Additions

522,027

At 31 March 2025

2,437,027

NET BOOK VALUE

At 31 March 2025

2,437,027

At 31 March 2024

1,915,000

The freehold land and buildings are revalued annually by the directors on an open market value basis. Every third year the properties are valued by an independent valuer where the directors consider there is a possibility that the valuation has materially changed since the last professional valuation.

A valuation by the directors took place at the balance sheet date.

No independent professional valuation took place as the directors consider that the value of the relevant properties has not materially altered since the last professional valuation in 2023.

Valuation models & techniques

The directors have considered their knowledge of the rental yields and local property market in arriving at their valuation.

Significant assumptions

That the valuation of the land has not materially altered since 2023.

Effects on the profit and loss and fair value reserve

No change to the fair value of the properties has been made and therefore there are no adjustments to the profit and loss account or the fair value

Fair value at 31 March 2025 is represented by:

£

Valuation in 2011

(308,889

)

Valuation in 2014

169,583

Valuation in 2017

30,000

Valuation in 2020

259,863

Valuation in 2023

395,000

Cost

1,891,470

2,437,027

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

16,925

Other debtors

45,618

53,082

45,618

70,007

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

801,919

384,919

Tax

32,424

28,372

VAT

6,715

6,092

Accruals and deferred income

25,558

22,903

866,616

442,286

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

112,670

112,670

Deferred

tax

£

Balance at 1 April 2024

112,670

Balance at 31 March 2025

112,670

9.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2025

2024

value:

£

£

1

Share capital

£1

1

1

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Colin Airey FCCA (Senior Statutory Auditor)

for and on behalf of GH Audit Limited

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12.	GROUP FINANCIAL STATEMENTS

Group financial statements, in which the company's financial results are included, are prepared by its parent company:

Oakley Properties (Bedford) Ltd

Brewpoint

Fairhill

Bedford

MK41 7FY