Freshbay Limited - Filleted accounts

Registered number

02203572

Freshbay Limited

Filleted Accounts

31 March 2025

Freshbay Limited
Registered number:		02203572
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		23,426,511			23,934,722

Current assets
Debtors	4	1,188,303			405,781
Cash at bank and in hand		898,308			773,829
		2,086,611			1,179,610

Creditors: amounts falling due within one year	5	(320,410)			(323,703)

Net current (liabilities)/assets			1,766,201			855,907

Total assets less current liabilities			25,192,712			24,790,629

Creditors: amounts falling due after more than one year	6		(7,833,520)			(7,883,558)

Provisions for liabilities			(1,195,392)			(1,195,392)

Net assets			16,163,800			15,711,679

Capital and reserves
Called up share capital			100			100
Fair value reserve	7		8,227,998			8,388,200
Profit and loss account			7,935,702			7,323,379

Shareholders' funds			16,163,800			15,711,679

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr R Mulji
Director
Approved by the board on 24 December 2025

Freshbay Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings	over 50 years
	Leasehold land and buildings	over the lease term
	Plant and machinery	over 5 years
	Fixtures, fittings, tools and equipment	over 5 years

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.




2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			1		1



3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 April 2024	23,933,838		109,743		24,043,581
	Additions	117,668		-		117,668
	Fair value movements	(160,202)		-		(160,202)
	Disposals	(464,798)		-		(464,798)
	At 31 March 2025	23,426,506		109,743		23,536,249

	Depreciation
	At 1 April 2024	-		108,859		108,859
	Charge for the year	-		879		879
	At 31 March 2025	-		109,738		109,738

	Net book value
	At 31 March 2025	23,426,506		5		23,426,511
	At 31 March 2024	23,933,838		884		23,934,722

	The investment properties have been valued at its fair value as at 31 March 2025 by the director of the company. The investment properties have been charged as security for bank borrowings



4	Debtors			2025		2024
£					£

	Trade debtors			7,346		18,978
	Other debtors			1,180,957		386,803
				1,188,303		405,781



5	Creditors: amounts falling due within one year			2025		2024
£					£

	Trade creditors			77,643		99,109
	Taxation and social security costs			12,027		16,046
	Other creditors			230,740		208,548
				320,410		323,703



6	Creditors: amounts falling due after one year			2025		2024
£					£

	Bank loans			13,031		23,231
	Shareholders loans			7,820,489		7,860,327
				7,833,520		7,883,558

	The bank loans are secured by way of legal charge over the company's investment properties



7	Fair value reserve			2025		2024
£					£

	At 1 April 2024			8,388,200		8,388,200
	Reversal of fair value on disposal of Investment properties			(160,202)		-

	At 31 March 2025			8,227,998		8,388,200



8	Controlling party

	The company is controlled by its director.



9	Transition to FRS 102

	The financial statements comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.



10	Other information

	Freshbay Limited is a private company limited by shares and incorporated in England. Its registered office is:
	c/o 128 Ebury Street
	London
	SW1W 9QQ