Barsham Securities Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02143022

Barsham Securities Limited

Unaudited financial statements

31 March 2025

Barsham Securities Limited

Statement of financial position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	6	25,713,691	26,500,340
Investments	7	100	100
		------------	------------
		25,713,791	26,500,440

Current assets

Debtors	8	197,559	188,140
Cash at bank and in hand		809,123	777,175
		-----------	---------
		1,006,682	965,315

Creditors: Amounts falling due within one year	9	( 5,486,032)		( 5,730,864)
		-----------		-----------
Net current liabilities			( 4,479,350)		( 4,765,549)
			------------		------------
Total assets less current liabilities			21,234,441		21,734,891

Provisions

Taxation including deferred tax	( 895,657)	( 1,039,483)
	------------	------------
Net assets	20,338,784	20,695,408
	------------	------------

Capital and reserves

Called up share capital	10	200,000	200,000
Revaluation reserve	11	1,938,228	3,126,714
Profit and loss account	11	18,200,556	17,368,694
		------------	------------
Shareholders funds		20,338,784	20,695,408
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Barsham Securities Limited

Statement of financial position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 30 December 2025 , and are signed on behalf of the board by:

Mr S R Holmes

Director

Company registration number: 02143022

Barsham Securities Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Branford House, 8 Hungate, Beccles, Suffolk.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Classification of properties

Investment properties and properties for own use are classified as fixed assets. Properties held for resale are classified as current assets and included in work in progress. Properties are so classified according to the intention of the directors, usually as decided at the time of acquisition.

Revenue recognition

The turnover shown in the profit and loss account represents the amount of goods and services provided during the year, exclusive of Value Added Tax. Sales of properties are recognised when the sale is legally completed.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax. Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold; Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% straight line
Motor vehicles	-	20% straight line

Investment properties are not depreciated. This is on the basis that the company has a policy and practice of regular maintenance and repair such that the standard of the property is maintained. The property is also revalued annually and therefore any diminution in value would be reflected in the revaluation.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of employees during the year was 4 (2024: 4 ).

5. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	309,470	271,209

Deferred tax:

Origination and reversal of timing differences	( 143,826)	71,789
	---------	---------
Tax on profit	165,644	342,998
	---------	---------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

The differences are explained below:-

	2025	2024
	£	£
Profit on ordinary activities before taxation	43,012	1,170,591
	-------	-----------
Profit on ordinary activities by rate of tax	10,753	292,648
Effect of expenses not deductible for tax purposes	176,303	( 22,000)
Effect of capital allowances and depreciation	( 13,131)	561
Utilisation of tax losses	( 8,281)	–
Deferred tax movement	–	71,789
	---------	-----------
Tax on profit	165,644	342,998
	---------	-----------

6. Tangible assets

	Freehold property	Freehold investment property	Leasehold investment property	Plant and machinery	Motor vehicles	Total
	£	£	£	£	£	£
Cost or valuation
At 1 April 2024	157,000	24,963,000	1,365,000	8,248	23,622	26,516,870
Additions	–	539,806	–	458	–	540,264
Revaluations	–	( 1,316,806)	( 5,000)	–	–	( 1,321,806)
	---------	------------	-----------	------	-------	------------
At 31 March 2025	157,000	24,186,000	1,360,000	8,706	23,622	25,735,328
	---------	------------	-----------	------	-------	------------
Depreciation
At 1 April 2024	–	–	–	7,082	9,448	16,530
Charge for the year	–	–	–	383	4,724	5,107
	---------	------------	-----------	------	-------	------------
At 31 March 2025	–	–	–	7,465	14,172	21,637
	---------	------------	-----------	------	-------	------------
Carrying amount
At 31 March 2025	157,000	24,186,000	1,360,000	1,241	9,450	25,713,691
	---------	------------	-----------	------	-------	------------
At 31 March 2024	157,000	24,963,000	1,365,000	1,166	14,174	26,500,340
	---------	------------	-----------	------	-------	------------

All freehold and leasehold properties were revalued in the year on the basis of open market value with existing use by Mr C R Holmes FCIOB, a director of the company. If freehold and leasehold properties had not been revalued they would have been included at historical cost of £22,854,446 (2024: £22,314,639).

7. Investments

	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	100
	----
Impairment
At 1 April 2024 and 31 March 2025	–
	----

Carrying amount
At 31 March 2025	100
	----
At 31 March 2024	100
	----

Shares in Group Undertakings

The company owns 100% of the issued share capital of Waveney House Hotel Limited.

8. Debtors

	2025	2024
	£	£
Trade debtors	164,174	167,536
Other debtors	33,385	20,604
	---------	---------
	197,559	188,140
	---------	---------

9. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Trade creditors	41,222	43,175
Amounts owed to group undertakings and undertakings in which the company has a participating interest	173,389	203,389
Social security and other taxes	153,706	154,062
Other creditors	5,117,715	5,330,238
	-----------	-----------
	5,486,032	5,730,864
	-----------	-----------

10. Called up share capital

Authorised share capital

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	1,000,000	1,000,000	1,000,000	1,000,000
	-----------	-----------	-----------	-----------

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	200,000	200,000	200,000	200,000
	---------	---------	---------	---------

11. Reserves

Revaluation reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income. Profit and loss account - This reserve records retained earnings and accumulated losses.