Company No: 09785195 (England and Wales)

Contents

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

DIRECTORS	G S Ritchie
	J H Ritchie
	R G Robinson
	T F Theron (Resigned 25 June 2025)

SECRETARY

Cosec Services Limited

REGISTERED OFFICE	5 Stratford Place
	London
	W1C 1AX
	United Kingdom

COMPANY NUMBER

09785195 (England and Wales)

AUDITOR	Dixon Wilson Audit Services LLP
	Statutory Auditor
	22 Chancery Lane
	London
	WC2A 1LS

	Note	31.03.2025		31.03.2024
		£		£
Fixed assets
Intangible assets	4	788		0
Tangible assets	5	884,836		795,891
		885,624		795,891
Current assets
Stocks	6	27,029		32,191
Debtors	7	147,112		113,135
Cash at bank and in hand		139,535		41,805
		313,676		187,131
Creditors: amounts falling due within one year	89	( 9,636,860)		( 8,566,335)
Net current liabilities		(9,323,184)		(8,379,204)
Total assets less current liabilities		(8,437,560)		(7,583,313)
Net liabilities		( 8,437,560)		( 7,583,313)
Capital and reserves
Called-up share capital		100		100
Profit and loss account		( 8,437,660 )		( 7,583,413 )
Total shareholder's deficit		( 8,437,560)		( 7,583,313)

The 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 Profit and Loss Account has not been delivered.

The financial statements of Ashgrove Farmhouse Limited (registered number: 09785195) were approved and authorised for issue by the Board of Directors on 23 December 2025. They were signed on its behalf by:

R G Robinson 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 period, unless otherwise stated.

General information and basis of accounting

Ashgrove Farmhouse 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 5 Stratford Place, London, W1C 1AX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. In assessing whether the going concern basis is appropriate, the directors have considered that the Parent Company will continue to support the Company for a period of no less than 12 months from the date of signing these financial statements and consequently the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The accounting reference date was changed in the prior year - the prior period was 9 months long and ran from 1 July 2023 to 31 March 2024.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover represents the sale of goods and services, excluding Value Added Tax (VAT).

Turnover is recognised from the sale of goods when the significant risks and rewards of ownership of the goods have passed to the buyer. Turnover is recognised from the sale of services once the service has been provided.

Other revenue comprises income from events and is recognised on the date of the event.

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:

Other intangible assets

4 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is charged once the assets are substantially complete and in use by the company.

The cost of tangible assets include directly attributable incremental costs incurred in their acquisition and installation.

Vehicles	5 years straight line
Fixtures and fittings	10 years straight line
Computer equipment	5 years straight line
Other property, plant and equipment	30 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Provision is made for obsolete, slow-moving, expired or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all liabilities.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estiamte is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3. Employees

	Year ended 31.03.2025		Period from 01.07.2023 to 31.03.2024
	Number		Number
Monthly average number of persons employed by the company during the year, excluding directors	30		0

4. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 April 2024	0		0
Additions	795		795
At 31 March 2025	795		795
Accumulated amortisation
At 01 April 2024	0		0
Charge for the financial year	7		7
At 31 March 2025	7		7
Net book value
At 31 March 2025	788		788
At 31 March 2024	0		0

5. Tangible assets

	Vehicles		Fixtures and fittings		Computer equipment		Other property, plant and equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	17,710		547,981		7,240		222,960		795,891
Additions	76,973		98,768		571		52,142		228,454
Disposals	0		0		0		( 12,000)		( 12,000)
Impairment	0		0		0		( 4,107)		( 4,107)
At 31 March 2025	94,683		646,749		7,811		258,995		1,008,238
Accumulated depreciation
At 01 April 2024	0		0		0		0		0
Charge for the financial year	18,937		57,842		1,553		45,070		123,402
At 31 March 2025	18,937		57,842		1,553		45,070		123,402
Net book value
At 31 March 2025	75,746		588,907		6,258		213,925		884,836
At 31 March 2024	17,710		547,981		7,240		222,960		795,891

6. Stocks

	31.03.2025		31.03.2024
	£		£
Stocks	27,029		32,191

An impairment loss of £nil (2024: £9,014) was recognised in cost of sales against stock during the year as perishable items passed their expiration dates.

7. Debtors

	31.03.2025		31.03.2024
	£		£
Prepayments	55,430		69,666
VAT recoverable	21,695		22,848
Other debtors	69,987		20,621
	147,112		113,135

8. Creditors: amounts falling due within one year

	31.03.2025		31.03.2024
	£		£
Trade creditors	49,916		25,472
Amounts owed to group undertakings	9,444,030		8,458,030
Other creditors	142,914		82,833
	9,636,860		8,566,335

9. Related party transactions

The company has taken advantage of the exemption in FRS102 Paragraph 1AC.35 "Related Party Disclosures" from disclosing transactions between wholly-owned members of a group.

10. Parent undertaking

The company's immediate parent is GSR Holdings Ltd, incorporated in England and Wales. The most senior parent entity producing publicly available consolidated financial statements is GSR Holdings Limited (5 Stratford Place, London, United Kingdom, W1C 1AX). These financial statements are publicly available from Companies House.

11. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 March 2025 was unqualified.

The audit report was signed by Steven Wakefield on 23 December 2025 on behalf of Dixon Wilson Audit Services LLP.