Balance sheet continued

As at 31 March 2025

	Notes	2025 £	2024 £
Capital and reserves
Called up share capital:		2	3
Revaluation reserve:	5	137,124	130,609
Profit and loss account:		828,689	848,992
Shareholders funds:		965,815	979,604

For the year ending 31 March 2025 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 March 2025

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Tangible fixed assets depreciation policy

  Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of Property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
  
  Land and Buildings Freehold - Carried at fair value
  
  The carrying value of tangible fixed assets are reviewed annually for impairment in periods of events or changes in circumstances indicate the carrying value may not be recoverable.

  Intangible fixed assets amortisation policy

  Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets when they were acquired. Purchased goodwill is capitalised in the Statement of Financial Position and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.