REGISTERED NUMBER: 05079520 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st March 2025

for

BAKHATY PROPERTY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A Bakhaty

Mrs M H G Bakhaty

SECRETARY:

Mrs M H G Bakhaty

REGISTERED OFFICE:

89 Leigh Road

Eastleigh

Hampshire

SO50 9DQ

REGISTERED NUMBER:

05079520 (England and Wales)

ACCOUNTANTS:

Graham Martin & Co

Accountants

89 Leigh Road

Eastleigh

Hampshire

SO50 9DQ

BANKERS:

Handelsbanken Plc

Winchester Branch

1 Crown Walk

Jewry Street

Winchester

Hampshire

SO23 8BB

FIXED ASSETS

Tangible assets

4

31,497

41,880

Investment property

5

19,710,672

19,691,040

19,742,169

19,732,920

CURRENT ASSETS

Debtors

6

153,715

128,123

Investments

7

151,264

103,955

Cash at bank

683,726

969,064

988,705

1,201,142

CREDITORS

Amounts falling due within one year

8

472,650

513,887

NET CURRENT ASSETS

516,055

687,255

TOTAL ASSETS LESS CURRENT LIABILITIES

20,258,224

20,420,175

CREDITORS

Amounts falling due after more than one year

9

(5,003,334

)

(5,013,334

)

PROVISIONS FOR LIABILITIES

(2,011,200

)

(2,013,126

)

NET ASSETS

13,243,690

13,393,715

CAPITAL AND RESERVES

Called up share capital

200

200

Fair value reserve

11

7,991,169

7,991,169

Retained earnings

5,252,321

5,402,346

SHAREHOLDERS' FUNDS

13,243,690

13,393,715

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 9th December 2025 and were signed on its behalf by:

M A Bakhaty - Director

1.	STATUTORY INFORMATION

Bakhaty Property 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents net invoiced rent and service charges receivable from tenants, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

30% on reducing balance, 25% on reducing balance and 10% on cost

Investment property

The company carries investment property on the balance sheet at fair value. Any changes to fair value are recognised in the profit and loss.

No depreciation is provided for in respect of investment properties as they are accounted for under the provisions of Section 16 of FRS 102.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2024

and 31st March 2025

872,108

DEPRECIATION

At 1st April 2024

830,228

Charge for year

10,383

At 31st March 2025

840,611

NET BOOK VALUE

At 31st March 2025

31,497

At 31st March 2024

41,880

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2024

19,691,040

Additions

19,632

At 31st March 2025

19,710,672

NET BOOK VALUE

At 31st March 2025

19,710,672

At 31st March 2024

19,691,040

Fair value at 31st March 2025 is represented by:

£

Valuation in 2008

1,114,888

Valuation in 2009

592,556

Valuation in 2012

62,398

Valuation in 2016

8,227,706

Valuation in 2020

(1,000,000

)

Valuation in 2021

1,000,000

Cost

9,713,124

19,710,672

If Investment property had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

9,693,492

9,693,492

Investment property were valued on open market basis on 31st March 2025 by the director Mr M Bakhaty .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

68,832

91,680

Other debtors

84,883

36,443

153,715

128,123

7.	CURRENT ASSET INVESTMENTS

2025

2024

£

£

Unlisted investments

151,264

103,955

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

70,373

25,836

Amounts owed to group undertakings

81,838

81,838

Taxation and social security

41,228

119,682

Other creditors

269,211

276,531

472,650

513,887

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

5,003,334

5,013,334

During the year ended 31sr March 2024 the company entered into a £5m loan agreement, the terms of which are as follows:-

1) Repayable in full on maturity (27/09/2028)

2) Interest payable quarterly at a rate of 2.5% over base rate.

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

5,013,334

5,023,334

The £5,000,000 loan is secured as follows:-

1. First legal charges over freehold property held in the company dated 28 September 2018.

2. First legal charge over leasehold property held in the company dated 28 September 2018.

3. Debenture dated 28 September 2018.

11.

RESERVES

Fair

value

reserve

£

At 1st April 2024

and 31st March 2025

7,991,169

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2025 and 31st March 2024:

2025

2024

£

£

M A Bakhaty and Mrs M H G Bakhaty

Balance outstanding at start of year

25

1,182

Amounts advanced

173,000

157,100

Amounts repaid

(1,720,456

)

(158,257

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,547,431

)

25

13.	RELATED PARTY DISCLOSURES

At 31st March 2024 & 2025 the company owed £81,838 to Hansen Property Limited a company under the control of the directors Mr & Mrs Bakhaty. This is an interest free loan and is repayable on demand.

At 31st March 2024 and 2025 the company was owed £860 by Hansen Goodlad Ltd a company under the control of a connected person. This is an interest free loan and is repayable on demand.

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Mr & Mrs Bakhaty by virtue of their majority shareholding in MAB Wessex Limited, the parent company.