Basinghall Estate Company Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00228497

Basinghall Estate Company Limited

Filleted Financial Statements

31 March 2025

Basinghall Estate Company Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Directors' responsibilities statement	1

Statement of financial position	2

Notes to the financial statements	3

Basinghall Estate Company Limited

Directors' Responsibilities Statement

Year ended 31 March 2025

The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Basinghall Estate Company Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	7		40,379,565	38,482,000

Current assets

Debtors	9	273,380	301,724
Cash at bank and in hand		1,298,871	1,353,633
		------------	------------
		1,572,251	1,655,357

Creditors: amounts falling due within one year	10	838,284		742,282
		------------		------------
Net current assets			733,967	913,075
			-------------	-------------
Total assets less current liabilities			41,113,532	39,395,075

Provisions

Deferred tax	6,379,972	6,080,602
	-------------	-------------
Net assets	34,733,560	33,314,473
	-------------	-------------

Capital and reserves

Called up share capital	11	76,648	76,648
Profit and loss account	12	34,656,912	33,237,825
		-------------	-------------
Shareholders funds		34,733,560	33,314,473
		-------------	-------------

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 income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 14 October 2025 , and are signed on behalf of the board by:

Mr H J A Stanford	Mr J M E Hazel
Director	Director

Company registration number: 00228497

Basinghall Estate Company Limited

Notes to the Financial Statements

Year ended 31 March 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 Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN.

2. Statement of compliance

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

3. Accounting policies

(a) 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 company.

(b) Trade and other debtors

Trade and other debtors are recognised and carried forward at invoiced amounts less provisions for any doubtful debts. Bad debts are written off when identified.

(c) Reserves

Realised profits and losses on the disposal of tangible fixed asset investments compared with their book values are recognised through the profit and loss account and transferred to a capital reserve, after adjusting for taxation attributable thereto. Realised revaluation surpluses are transferred directly to a capital reserve after adjusting for taxation attributable thereto.

A maintenance reserve has been established to set aside an amount to meet the cost of exceptional future repairs expenditure.

(d) Dividends

When the company declares dividends after the balance sheet date, the company does not recognise those dividends as a liability at the balance sheet date. The aggregate amount of dividends declared before approval of the financial statements, which have not been shown as liabilities at the balance sheet date, are disclosed in the notes to the financial statements.

The dividends on ordinary shares are set out in note 9 (note 6 of the filleted financial statements).

(e) 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. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. Judgements include the recognition of revenue. Estimates include accruals, deferred income, property revaluation and provisions.

(f) Revenue recognition

The figure in the profit and loss account represents gross rental income exclusive of VAT relating to the financial year before the deduction of expenses.

(g) Income tax

As required by Financial Reporting Standard 102, a provision is made for taxation deferred as a result of material timing differences between the incidence of income and expenditure for taxation and accounts purposes using a full provision basis, except for those timing differences in respect of which the standard specifies that deferred tax should not be recognised.

(h) Tangible assets

Tangible assets are initially recorded at cost. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation.

(i) Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

(j) Repairs provisions

The cost of repairs to properties is charged to property outgoings in the year in which the expenditure is incurred.

(k) Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2024: 4 ).

5. Tax on profit

Major components of tax expense

	2025	2024
	£	£
Current tax:
UK current tax expense	264,676	166,269
Adjustments in respect of prior periods	2,504	–
	---------	---------
Total current tax	267,180	166,269
	---------	---------

Deferred tax:
Origination and reversal of timing differences	299,370	65,718
Tax on profit	566,550	231,987

Tax recognised as other comprehensive income or equity

Taxation on realisation of investment revaluation reserve £NIL (2024: £NIL).

Deferred tax

Deferred tax has been recognised at 25% (2024: 25%).

Factors that may affect future tax expense

The deferred tax provision is a contingent liability and calculated in respect of the entire property portfolio. A tax liability would only become payable in the event that the investment properties were sold.

6. Dividends

Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):

	2025	2024
	£	£
Equity dividends on ordinary shares	582,525	559,530
	---------	---------

Dividends paid on ordinary shares:

	2025	2024
	£	£
Second 2023 interim dividend of £3.75 per ordinary share paid on 1 July 2024 (2023: £3.55 paid on 1 July 2023)	287,430	272,100
First 2024 interim dividend of £3.85 per ordinary share paid on 1 January 2025 (2024: £3.75 paid 1 January 2024)	295,095	287,430
	---------	---------
	582,525	559,530
	---------	---------

Dividends proposed on ordinary shares:

	2025	2024
	£	£
Second 2024 interim dividend of £3.85 per ordinary share paid on 1 July 2025 (2024: £3.75 paid on 1 July 2024)	295,095	287,430
Proposed first 2025 interim dividend of £3.95 per ordinary share payable on 1 January 2026 (2024: £3.85 paid 1 January 2025)	302,760	295,095
Proposed second 2025 interim dividend of £3.95 per ordinary share payable 1 July 2026 (2024: £3.85 paid 1 July 2025)	302,760	295,095
	---------	---------
	900,615	877,620
	---------	---------

7. Tangible assets

	Freehold property
	£
Cost or valuation
At 1 April 2024	38,482,000
Additions	413,775
Revaluations	1,483,790
	-------------
At 31 March 2025	40,379,565
	-------------
Depreciation
At 1 April 2024 and 31 March 2025	–
	-------------
Carrying amount
At 31 March 2025	40,379,565
	-------------
At 31 March 2024	38,482,000
	-------------

The investment properties are included at their estimated open market value at 31 March 2025. This is based on an external valuation report prepared by Stiles Harold Williams Partnership LLP, Chartered Surveyors as at 31 March 2025. The valuation was carried out in accordance with the RICS Valuation Global Standards, effective from 31 January 2025, published by the Royal Institution of Chartered Surveyors.

8. Capital commitments

During the year, the company entered into two contracts for the conversion of the properties at 1 Rocks Lane and 8-9 Rocks Lane. The contract sums were £495,605 net of VAT and £533,370 net of VAT, respectively. These works continue to be carried out after the year end.

At the year end, there were contract costs remaining of £323,346 net of VAT for 1 Rocks Lane and £343,673 net of VAT for 8-9 Rocks Lane, respectively.

9. Debtors

	2025	2024
	£	£
Trade debtors	203,449	243,230
Other debtors	69,931	58,494
	---------	---------
	273,380	301,724
	---------	---------

10. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	65,815	85,869
Accruals	180,338	60,670
Deferred income	286,861	282,119
Corporation tax	264,676	166,269
Social security and other taxes	40,594	57,354
Other creditors	–	90,001
	---------	---------
	838,284	742,282
	---------	---------

11. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	76,648	76,648	76,648	76,648
	--------	--------	--------	--------

12. Reserves

	2025	2024
	£	£
Capital and reserves includes the following balances:
Called up share capital	76,648	76,648
Profit and loss account	34,656,912	33,237,825
	-------------	-------------
	34,733,560	33,314,473
	-------------	-------------

The profit and loss account includes the following reserves:

	2025	2024
	£	£
Maintenance reserve	403,796	384,820
Capital reserve	1,499,564	1,499,564
Fair value reserve	24,872,941	23,688,521
Balance of profit and loss account	7,880,611	7,664,920
	-------------	-------------
	34,656,912	33,237,825
	-------------	-------------

Of the above reserves, the fair value reserves are profits which are not available for distribution as they are unrealised.

13. Summary audit opinion

The auditor's report dated 22 October 2025 was unqualified .

The senior statutory auditor was Kenton May , for and on behalf of Burgess Hodgson Audit Limited .

14. Related party transactions

During the year Mr S P J Howell received a salary of £3,000 (2024: £2,500) for additional administrative work and company secretarial duties carried out on behalf of the company.