Company No: 07996347 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	E F Gallagher
	K S Gallagher

REGISTERED OFFICE	134 Worplesdon Road
	Guildford
	Surrey
	GU2 9RX
	United Kingdom

COMPANY NUMBER

07996347 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	Wey Court West
	Union Road
	Farnham
	Surrey
	GU9 7PT

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	44,030		58,707
Tangible assets	4	268,240		275,302
		312,270		334,009
Current assets
Debtors	5	19,039		18,154
Cash at bank and in hand	6	129,211		73,101
		148,250		91,255
Creditors: amounts falling due within one year	7	( 211,803)		( 139,816)
Net current liabilities		(63,553)		(48,561)
Total assets less current liabilities		248,717		285,448
Creditors: amounts falling due after more than one year	8	( 234,367)		( 251,177)
Provision for liabilities	9	( 1,937)		( 1,766)
Net assets		12,413		32,505
Capital and reserves
Called-up share capital		2		2
Profit and loss account		12,411		32,503
Total shareholders' funds		12,413		32,505

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 Cobbles Property Limited (registered number: 07996347) were approved and authorised for issue by the Board of Directors on 12 December 2025. They were signed on its behalf by:

E F Gallagher Director

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

Cobbles Property 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 134 Worplesdon Road, Guildford, Surrey, GU2 9RX, United Kingdom.

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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is [number] years.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

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 or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Fixtures and fittings	4 years straight line
Office equipment	4 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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.

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.

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).

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	8		8

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2024	146,765		146,765
At 31 March 2025	146,765		146,765
Accumulated amortisation
At 01 April 2024	88,058		88,058
Charge for the financial year	14,677		14,677
At 31 March 2025	102,735		102,735
Net book value
At 31 March 2025	44,030		44,030
At 31 March 2024	58,707		58,707

4. Tangible assets

	Land and buildings		Fixtures and fittings		Office equipment		Total
	£		£		£		£
Cost
At 01 April 2024	293,205		9,870		39,650		342,725
Additions	0		0		1,709		1,709
At 31 March 2025	293,205		9,870		41,359		344,434
Accumulated depreciation
At 01 April 2024	27,283		9,642		30,498		67,423
Charge for the financial year	5,664		69		3,038		8,771
At 31 March 2025	32,947		9,711		33,536		76,194
Net book value
At 31 March 2025	260,258		159		7,823		268,240
At 31 March 2024	265,922		228		9,152		275,302

5. Debtors

	2025		2024
	£		£
Trade debtors	3,873		11,526
Amounts owed by directors	4,888		0
Prepayments and accrued income	7,515		3,864
Other debtors	2,763		2,764
	19,039		18,154

6. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	129,211		73,101

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	20,814		35,026
Trade creditors	4,261		6,991
Amounts owed to directors	0		7
Accruals	3,700		2,435
Taxation and social security	76,854		29,431
Other creditors	106,174		65,926
	211,803		139,816

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	234,367		251,177

The bank loans are secured by a loan over the company's property, namely a debenture granted in favour of Barclays Security Trustee Limited for the benefit of Barclays Bank PLC and two personal guarantees from K and E Gallagher, the first for £50,000 and the second for £100,000 both in favour of Barclays Bank UK PLC and Barclays Bank PLC.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2025		2024
	£		£
Bank loans (repayable by instalments)	150,394		173,800

The bank loan is repayable in 120 instalments which vary with the bank interest rate.

9. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 1,766)		0
Charged to the Statement of Income and Retained Earnings	( 171)		( 1,766)
At the end of financial year	( 1,937)		( 1,766)

10. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £6,770 (2024: £2,054).

	2025		2024
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	533		522