Company Registration No. 9938733 (England and Wales)
Barrow Close Investments Limited
Unaudited accounts
for the year ended 31 March 2025
Barrow Close Investments Limited
Unaudited accounts
Contents
Barrow Close Investments Limited
Company Information
for the year ended 31 March 2025
Directors
Mr Ardeshir Naghshineh
Mr Shapoor Naghshineh
Mr Corin Thoday
Company Number
9938733 (England and Wales)
Registered Office
11-13 Riverside Road
Norwich
Norfolk
NR1 1SQ
United Kingdom
Barrow Close Investments Limited
Statement of financial position
as at 31 March 2025
Investment property
2,000,000
1,600,000
Debtors
3,225,879
2,929,738
Cash at bank and in hand
798
391,728
Creditors: amounts falling due within one year
(2,294,148)
(2,294,912)
Net current assets
932,529
1,026,554
Total assets less current liabilities
2,932,529
2,626,554
Provisions for liabilities
Deferred tax
(472,163)
(392,618)
Net assets
2,460,366
2,233,936
Called up share capital
1
1
Profit and loss account
2,460,365
2,233,935
Shareholders' funds
2,460,366
2,233,936
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2025 and were signed on its behalf by
Mr Corin Thoday
Director
Company Registration No. 9938733
Barrow Close Investments Limited
Notes to the Accounts
for the year ended 31 March 2025
Barrow Close Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 9938733. The registered office is 11-13 Riverside Road, Norwich, Norfolk, NR1 1SQ, United Kingdom.
2
Compliance with accounting standards
The financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention unless otherwise specified and in accordance with the provisions of FRS 102 Section 1A Small Entities and the Companies Act 2006.
The financial statements have been prepared on a going concern basis. However, attention is drawn to the following.
At the end of the year the company owed a total of £2,650,610 (2024: 2,657,154) to other connected parties.
Additionally the company was owed £3,211,411 (2024: £2,857,761 ) by connected parties.
Based on the above the directors have prepared cashflow projections and business plans which demonstrate that the company has the resources available to meet its obligations for the foreseeable future and, in particular, has resources available for the period of 12 months from the date of approval of these financial statements.
The accounts are presented in £ sterling.
Turnover comprises rental income from the fixed asset investment property. The income is recognised on an accruals basis.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts.
Deferred tax liabilities arising from gains on the revaluation of investment property are recognised in full.
Deferred tax assets arising from unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against future profits or the future reversal of deferred tax liabilities.
Deferred tax assets and liabilities are not discounted.
Barrow Close Investments Limited
Notes to the Accounts
for the year ended 31 March 2025
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Fair value at 1 April 2024
1,600,000
Net gain from fair value adjustments
400,000
At 31 March 2025
2,000,000
The investment property was valued on an open market basis by the Directors of the company on 31 March 2025.
Amounts falling due within one year
Amounts due from group undertakings etc.
3,211,410
2,857,760
Accrued income and prepayments
11,042
68,551
6
Creditors: amounts falling due within one year
2025
2024
Trade creditors
(500,823)
(492,508)
Amounts owed to group undertakings and other participating interests
2,650,610
2,657,154
Taxes and social security
144,371
144,371
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
8
Transactions with related parties
Under section 33.1A of FRS 102 Section 1A Small Entities, the Company is not obliged to disclose transactions between members of other group companies where group accounts are prepared.
The company has a loan agreement with Targetfollow Estates Limited. At the end of the period the company was owed a total of £2,358,352 (2024: £2,308,352) by Targetfollow Estates Limited.
The company has a loan agreement with Kerdiston Investments Limited, also a company controlled by A Naghshineh. At the year end, £9,354 (2024: £17,054) was owed to Kerdiston Investments Limited.
Barrow Close Investments Limited
Notes to the Accounts
for the year ended 31 March 2025
The company is controlled by Targetfollow Group Ltd and, in the opinion of the directors, this is the company's ultimate parent company. The ultimate controlling party is A Naghshineh, sole shareholder and a director of Targetfollow Group Ltd.
The parent undertaking of the largest and smallest group for which consolidated accounts are prepared is Targetfollow Group Ltd, whose registered address is 11-12 Riverside Road Norwich NR1 1SQ. Consolidated accounts are available from Companies House.
10
Average number of employees
During the year the average number of employees was 0 (2024: 0).