REGISTERED NUMBER: 05696830 (England and Wales)

SOCKETT PROPERTIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

Chartered Certified Accountants' Report

8

DIRECTOR:

Mr D P Sockett

REGISTERED OFFICE:

21 Burcott Road

Hereford

Herefordshire

HR4 9LW

REGISTERED NUMBER:

05696830 (England and Wales)

ACCOUNTANTS:

Lockett & Co

Chartered Certified Accountants

Shelton House

Coningsby Street

Hereford

Herefordshire

HR1 2DY

FIXED ASSETS

Tangible assets

4

165,618

119,970

Investments

5

202

202

Investment property

6

27,253,359

24,081,980

27,419,179

24,202,152

CURRENT ASSETS

Debtors

7

774,115

243,722

Cash at bank

824,166

502,299

1,598,281

746,021

CREDITORS

Amounts falling due within one year

8

892,215

799,895

NET CURRENT ASSETS/(LIABILITIES)

706,066

(53,874

)

TOTAL ASSETS LESS CURRENT LIABILITIES

28,125,245

24,148,278

CREDITORS

Amounts falling due after more than one year

9

(5,495,373

)

(3,707,426

)

PROVISIONS FOR LIABILITIES

(3,707,096

)

(3,383,286

)

NET ASSETS

18,922,776

17,057,566

CAPITAL AND RESERVES

Called up share capital

103

103

Profit and loss reserve - non distributable

11

11,627,185

10,675,413

Retained earnings

7,295,488

6,382,050

SHAREHOLDERS' FUNDS

18,922,776

17,057,566

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

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

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 December 2025 and were signed by:

Mr D P Sockett - Director

1.	STATUTORY INFORMATION

Sockett Properties Ltd 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, except for modification to a fair value basis for certain fixed assets, as specified in the accounting policies below.

Preparation of consolidated financial statements

The financial statements contain information about Sockett Properties Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents rental income and management and service charges received or receivable by the company from leasing its investment properties.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

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

Integral features

10% reducing balance basis

Plant and equipment

25% reducing balance basis

Furniture and fittings

25% reducing balance basis

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised on the balance sheet when the entity becomes party to the contractual provisions of the financial instrument.

Debtors and Creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Bank loans are initially recognised at the transaction price including transaction costs. Subsequent to initial recognition, loans are stated at amortised cost using the effective interest rate method, less impairment.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 4 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

213,307

Additions

64,878

At 31 March 2025

278,185

DEPRECIATION

At 1 April 2024

93,337

Charge for year

19,230

At 31 March 2025

112,567

NET BOOK VALUE

At 31 March 2025

165,618

At 31 March 2024

119,970

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

202

NET BOOK VALUE

At 31 March 2025

202

At 31 March 2024

202

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

24,081,980

Additions

1,907,464

Revaluations

1,263,915

At 31 March 2025

27,253,359

NET BOOK VALUE

At 31 March 2025

27,253,359

At 31 March 2024

24,081,980

Investment properties were valued on an open market freehold basis on 31 March 2025 by Mr D P Sockett, director of the company, based on previous professional valuations deemed to still be appropriate.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

179,721

141,533

Amounts owed by group undertakings

82,503

82,503

Other debtors

511,891

19,686

774,115

243,722

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

11,056

60,593

Trade creditors

111,072

60,955

Amounts owed to group undertakings

211,356

130,183

Taxation and social security

385,508

346,786

Other creditors

173,223

201,378

892,215

799,895

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

5,495,373

3,707,426

Amounts falling due in more than five years:

Repayable by instalments

Bank loans - over 5 years

60,717

69,816

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

5,494,762

3,746,352

The bank borrowing is secured by a debenture, legal charges and a personal guarantee given by the director.

11.

RESERVES

Profit

and loss

reserve -

non

distributable

£

At 1 April 2024

10,675,413

Transfer between reserves

951,772

At 31 March 2025

11,627,185

This non-distributable reserve relates to unrealised gains less attributable deferred tax, on investment properties carried at fair value, transferred from profit and loss reserve.

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2025

2024

£

£

Mr D P Sockett

Balance outstanding at start of year

-

602,820

Amounts advanced

343,118

491,698

Amounts repaid

-

(1,094,518

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

343,118

-

These advances and credits, were unsecured and repayable on demand, with interest paid at the statutory rate. The above amounts represent an aggregate summary of all the amounts advanced to the director.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sockett Properties Ltd for the year ended 31 March 2025 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at accaglobal.com/rulebook.

This report is made solely to the director of Sockett Properties Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sockett Properties Ltd and state those matters that we have agreed to state to the director of Sockett Properties Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/gb/en/technical-activities/technical-resources-

search/2009/october/factsheet-163-audit-exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Sockett Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sockett Properties Ltd. You consider that Sockett Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sockett Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lockett & Co

Chartered Certified Accountants

Shelton House

Coningsby Street

Hereford

Herefordshire

HR1 2DY

12 December 2025