Samuel Earnshaw Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 955318

SAMUEL EARNSHAW LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 May 2025

SAMUEL EARNSHAW LIMITED

STATEMENT OF FINANCIAL POSITION

31 May 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		440,000		370,000

CURRENT ASSETS

Cash at bank and in hand	38,651		49,429

CREDITORS: amounts falling due within one year	6	4,715		4,497
		---------		---------
NET CURRENT ASSETS			33,936		44,932
			----------		----------
TOTAL ASSETS LESS CURRENT LIABILITIES			473,936		414,932

PROVISIONS

Taxation including deferred tax	65,791	50,790
	----------	----------
NET ASSETS	408,145	364,142
	----------	----------

SAMUEL EARNSHAW LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 May 2025

	2025		2024
Note	£	£	£	£

CAPITAL AND RESERVES

Called up share capital	60	60
Revaluation reserve	295,596	240,596
Profit and loss account	112,489	123,486
	----------	----------
SHAREHOLDERS FUNDS	408,145	364,142
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 10 December 2025 , and are signed on behalf of the board by:

K A Tuck
Director

Company registration number: 955318

SAMUEL EARNSHAW LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Equitable House, 55 Pellon Lane, Halifax, West Yorkshire, HX1 5SP, United Kingdom.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Key judgements and estimates are in relation to the valuation of investment property.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable in respect of property rents due for the period under review.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. No depreciation is provided on investment properties as a result of FRS 102 section 16, this represents a departure from the requirements of the Companies Act. The directors have concluded that the financial statements present fairly the group's financial position, financial performance and cash flows and complies with applicable legislation, except for the departure above.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. TANGIBLE ASSETS

	Land and buildings
	£
Cost or valuation
At 1 June 2024	370,000
Revaluations	70,000
	----------
At 31 May 2025	440,000
	----------
Depreciation
At 1 June 2024 and 31 May 2025	–
	----------
Carrying amount
At 31 May 2025	440,000
	----------
At 31 May 2024	370,000
	----------

The investment properties are all available for rental and the director estimates that these properties have a current market value, based on current use, of £440,000 (2024 - 370,000). If the properties were disposed of at this value, there would be a potential tax liability of £65,791 (2024 - £50,791).

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold property
	£
At 31 May 2025
Aggregate cost	78,613
Aggregate depreciation	–
	---------
Carrying value	78,613
	---------

At 31 May 2024
Aggregate cost	78,613
Aggregate depreciation	–
	---------
Carrying value	78,613
	---------

6. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	–	18
Trade creditors	–	891
Corporation tax	938	1,357
Social security and other taxes	360	352
Other creditors	3,417	1,879
	-------	-------
	4,715	4,497
	-------	-------

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director had an unsecured interest free loan with the Company. The loan was in credit throughout the year and repayable on demand.