REGISTERED NUMBER: 09003139 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

A BETTER CHOICE FOR PROPERTY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T Kerly

M Stevens

G A Miles

B J Horton

SECRETARY:

L M Foreman

REGISTERED OFFICE:

C/o Ashford Borough Council

International House

Dover Place

Ashford

Kent

TN23 1HU

REGISTERED NUMBER:

09003139 (England and Wales)

AUDITORS:

Cassidys Chartered Accountants

And Registered Auditors

South Stour Offices

South Stour Road

Mersham

Ashford

Kent

TN25 7HS

FIXED ASSETS

Investments

4

1

1

Investment property

5

22,177,000

22,388,000

22,177,001

22,388,001

CURRENT ASSETS

Debtors

6

14,643,069

13,721,150

Cash at bank

214,001

152,284

14,857,070

13,873,434

CREDITORS

Amounts falling due within one year

7

6,221,084

773,636

NET CURRENT ASSETS

8,635,986

13,099,798

TOTAL ASSETS LESS CURRENT LIABILITIES

30,812,987

35,487,799

CREDITORS

Amounts falling due after more than one year

8

(27,764,521

)

(32,683,712

)

PROVISIONS FOR LIABILITIES

(340,086

)

(352,953

)

NET ASSETS

2,708,380

2,451,134

CAPITAL AND RESERVES

Called up share capital

1,039,549

1,039,549

Retained earnings

1,668,831

1,411,585

SHAREHOLDERS' FUNDS

2,708,380

2,451,134

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 22 December 2025 and were signed on its behalf by:

M Stevens - Director

1.	STATUTORY INFORMATION

A Better Choice For 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about A Better Choice For Property Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Ashford Borough Council, International House, Dover Place, Ashford, Kent, TN23 1HU.

Turnover

Turnover comprises of rental income from investment property leased out under tenancy agreements and is recognised in the Income Statement on a straight-line basis over the term of the agreements.

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

The company classifies financial instruments, or their component parts, on initial recognition as a financial asset, a financial liability or equity instrument in accordance with the substance of the contractual arrangement. Financial instruments are recognised when the company becomes party to the contractual provision of the instrument.

Trade and other debtors

Trade and other debtors are initially measured at fair value and are carried at amortised cost in the financial statements. Consideration will be given to balances throughout the period to determine if any amounts are deemed irrecoverable. Where irrecoverable amounts are identified the impairment is recognised immediately in profit or loss.

Trade and other payables

Trade and other payables are initially measured at fair value and are carried at amortised cost in the financial statements at year end.

Loans payable and receivable

Loans payable and receivable are initially measured at fair value and carried at their amortised cost. Annual debits or credits are posted to the Income Statement as interest payable or receivable, and are based on the carrying amount of the liability or asset multiplied by the effective rate of interest for the instrument. For most of the loans that the Company has received or made, this means that the amount presented in the Balance Sheet is the outstanding principal payable or receivable, and interest debited or credited to the Income Statement is the amount payable or receivable for the year in the loan agreement.

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.

Going concern

The financial statements are prepared on a going concern basis. The directors have considered all available

information about future events and have reviewed cash flows for the 12 months following the date of approval of these accounts. The Company has access to funding to meet its future obligations by way of loans issued by its ultimate parent entity, Ashford Borough Council, and the company has received confirmation from the parent entity of its continued support.

From the above assessment, the directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis of accounting in preparing the financial statements.

Judgements and estimates

In applying the company's accounting policies management is required to make judgements and estimates. Management have not made any critical judgement that are material to the company and key sources of estimation uncertainty that could have a significant effect on the amounts recognised in the financial statements are described below.

Valuation of investment properties

Investment properties are valued at fair value. Actual values achieved, if properties were to be sold, may differ significantly to those estimated for inclusion in the financial statements. To reduce this risk, the company only engages independent reputable qualified professionals to perform the valuations. As describe in note 5 Investment property, the properties were valued by independent reputable qualified professionals and valuation reports provided did not indicate any material uncertainties with the valuations.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

1

NET BOOK VALUE

At 31 March 2025

1

At 31 March 2024

1

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

22,388,000

Disposals

(147,305

)

Fair value adjustment

(63,695

)

At 31 March 2025

22,177,000

NET BOOK VALUE

At 31 March 2025

22,177,000

At 31 March 2024

22,388,000

The fair value of the company's investment properties portfolio was valued as at 31 March 2025 by an independent RICs Registered Valuer, Sibley Pares Chartered Surveyors on a market value basis.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2016

95,010

Valuation in 2017

251,760

Valuation in 2018

122,060

Valuation in 2019

(229,264

)

Valuation in 2020

883

Valuation in 2021

711,087

Valuation in 2022

1,229,500

Valuation in 2023

264,000

Valuation in 2024

(819,011

)

Valuation in 2025

(63,695

)

Cost

20,614,670

22,177,000

6.

DEBTORS

31.3.25

31.3.24

£

£

Amounts falling due within one year:

Amounts owed by group undertakings

1,171,368

281,722

Other debtors

88,308

178,317

1,259,676

460,039

Amounts falling due after more than one year:

Amounts owed by group undertakings

13,383,393

13,261,111

Aggregate amounts

14,643,069

13,721,150

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

19,377

11,701

Amounts owed to group undertakings

6,106,684

373,806

Taxation and social security

1,662

9,048

Other creditors

93,361

379,081

6,221,084

773,636

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Amounts owed to group undertakings

27,764,521

32,683,712

Amount falling due in more than fives years repayable by instalments - £26,482,134 (2024 - £29,036,688).

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Loans due to parent

33,871,205

33,350,983

Investment properties and land held by the company and its subsidiary, A Better Choice for Property Development Limited, to the value of £24,151,980 have been pledged as security for liabilities owed to the parent, Ashford Borough Council. The holder (Ashford Borough Council) of the security does not have the right to sell or re-pledge the investment properties in absence of default.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stuart G Whorlow (Senior Statutory Auditor)

for and on behalf of Cassidys Chartered Accountants

11.	RELATED PARTY DISCLOSURES

The company's immediate and ultimate parent is Ashford Borough Council, which is a local UK government organisation.

The company has a wholly owned and controlled subsidiary, A Better Choice for Property Development Limited.

The company and its subsidiary are included in the consolidated financial statements of Ashford Borough Council, which are available from Ashford Borough Council, International House, Dover Place, Ashford, Kent TN23 1HU.