Company No: 02358997 (England and Wales)

Contents

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

DIRECTORS	R Hipkin
	L Hipkin
	S Hipkin

SECRETARY

S Hipkin

REGISTERED OFFICE	Scotlands Farm
	Forest Road
	Newell Green
	Warfield
	Bracknell
	Berkshire
	RG42 6AJ
	United Kingdom

COMPANY NUMBER

02358997 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	264 Banbury Road
	Oxford
	OX2 7DY
	United Kingdom

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	136,530		174,691
Investment property	4	3,440,000		4,640,000
		3,576,530		4,814,691
Current assets
Stocks		167,880		167,880
Debtors	5	1,407,456		1,260,407
Cash at bank and in hand		597,398		62,132
		2,172,734		1,490,419
Creditors: amounts falling due within one year	6	( 875,697)		( 1,477,142)
Net current assets		1,297,037		13,277
Total assets less current liabilities		4,873,567		4,827,968
Provision for liabilities	7	0		( 129,096)
Net assets		4,873,567		4,698,872
Capital and reserves
Called-up share capital	8	269,964		269,964
Share premium account		2,223,019		2,223,019
Fair value reserve		1,076,399		1,578,596
Profit and loss account		1,304,185		627,293
Total shareholders' funds		4,873,567		4,698,872

For the financial 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These 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 Classicstone Properties Limited (registered number: 02358997) were approved and authorised for issue by the Board of Directors on 16 December 2025. They were signed on its behalf by:

R Hipkin Director

S Hipkin 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 year, unless otherwise stated.

General information and basis of accounting

Classicstone Properties 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 Scotlands Farm, Forest Road, Newell Green, Warfield, Bracknell, Berkshire, RG42 6AJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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. 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.

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 at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rental income on assets leased under operating leases is recognised on a straight-line basis over the lease term.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	5 years straight line
Vehicles	4 years straight line
Fixtures and fittings	10 years straight line
Computer equipment	4 years straight line

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	15		16

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	154,864		18,250		584,723		19,857		777,694
Additions	1,000		18,500		570		0		20,070
Disposals	0		0		( 27,635)		0		( 27,635)
At 31 March 2025	155,864		36,750		557,658		19,857		770,129
Accumulated depreciation
At 01 April 2024	123,864		9,126		452,372		17,641		603,003
Charge for the financial year	16,683		5,333		27,458		743		50,217
Disposals	0		0		( 19,621)		0		( 19,621)
At 31 March 2025	140,547		14,459		460,209		18,384		633,599
Net book value
At 31 March 2025	15,317		22,291		97,449		1,473		136,530
At 31 March 2024	31,000		9,124		132,351		2,216		174,691

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	4,640,000
Fair value movement	(419,998)
Disposals	(780,002)
As at 31 March 2025	3,440,000

Investment properties have been valued at 31 March 2025 on an open market value basis by Mr R Hipkin, a director of the company. Each property has been valued on its economic yield.

All investment properties are held for use under operating leases.

5. Debtors

	2025		2024
	£		£
Trade debtors	1,230,073		1,238,538
Deferred tax asset	132,678		0
Other debtors	44,705		21,869
	1,407,456		1,260,407

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	27,551		16,272
Other taxation and social security	3,637		11,346
Other creditors	844,509		1,449,524
	875,697		1,477,142

7. Provision for liabilities

	2025		2024
	£		£
Deferred tax	0		129,096

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
269,964 Ordinary shares of £ 1.00 each	269,964		269,964

9. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	205,315		505,315

The company is subject to mortgage deeds and legal mortgages in favour of the company's bankers secured over the investment property valued at £3,440,000 and fixed assets with a net book value of £145,961.

10. Related party transactions

In the year the company occupied a rental property owned by a director of the company. The company paid rent of £35,000 (2024: £35,000) in the year. No amounts were outstanding at the year end (2024: £nil).

Dividends totalling £nil (2024 - £nil) were paid in the year in respect of shares held by the company's directors.

During the year R Hipkin, a director, withdrew £400,575 (2024: £nil) from the company and loaned £30,000 (2024: £70,000) to the company. At the year end the company owed R Hipkin £757,505 (2024: £1,128,080).

S Hipkin, a director, withdrew £215,000 (2024: £nil) from the company and loaned the company £nil in the year (2024: £20,000). At the year end the company owed S Hipkin £20,000 (2024: £235,000).

At the year end, included in trade creditors, the company owed the directors £11,910 (2024:£nil).

The amounts owed to the directors of the company are interest free and repayable on demand.