Company registration number 03151334 (England and Wales)
ACTIVE BUSINESS SERVICES LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ACTIVE BUSINESS SERVICES LIMITED
CONTENTS
Page
Director's report
1 - 2
Balance sheet
3
Notes to the financial statements
5 - 10
ACTIVE BUSINESS SERVICES LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The director presents his annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activity of the company continued to be that of ownership and the provision of land and buildings to other companies within the Parseq Limited group.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

A C Callow

Post balance sheet event

Following the year end the company refinanced the bank loan with a new bank loan facility totalling £3,250,000, repayable over 60 months and subject to an interest rate of 2.95% above the Bank of England base rate.

In addition to the legal charge over the freehold property detailed in note 5 of these financial statements, the loan is supported by a guarantee from Parseq Limited and additional security is provided by a personal guarantee of £1m from the ultimate controlling party.

Qualifying third party indemnity provisions

The company maintains liability insurance for its directors and officers. Following shareholders' approval in July 2008 the company has also provided an indemnity for the company directors and the secretary, which is a qualifying third party indemnity provision for the purposes of the Companies Act 2006. The third-party indemnity was in force during the financial year and also at the start date of the approval of the financial statements.

Auditor

Sumer Auditco Limited were appointed as auditor to the company following BHP LLP becoming part of the Sumer Group on 31 December 2025, which required a change in audit firm to comply with applicable regulatory requirements.

In accordance with section 487(2) of the Companies Act 2006, Sumer Auditco Limited are deemed to be reappointed annually.

Statement of director's responsibilities

The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ACTIVE BUSINESS SERVICES LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
A C Callow
Director
16 January 2026
ACTIVE BUSINESS SERVICES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 3 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Investment property
5
5,480,937
5,480,937
Current assets
Debtors
6
644,429
545,554
Cash at bank and in hand
1,381
-
0
645,810
545,554
Creditors: amounts falling due within one year
7
(3,154,701)
(3,050,144)
Net current liabilities
(2,508,891)
(2,504,590)
Total assets less current liabilities
2,972,046
2,976,347
Creditors: amounts falling due after more than one year
8
-
0
(62,852)
Net assets
2,972,046
2,913,495
Capital and reserves
Called up share capital
10
100
100
Profit and loss reserves
2,971,946
2,913,395
Total equity
2,972,046
2,913,495

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 16 January 2026
A C Callow
Director
Company registration number 03151334 (England and Wales)
ACTIVE BUSINESS SERVICES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2023
100
2,814,741
2,814,841
Year ended 31 December 2023:
Profit and total comprehensive income
-
98,654
98,654
Balance at 31 December 2023
100
2,913,395
2,913,495
Year ended 31 December 2024:
Profit and total comprehensive income
-
58,551
58,551
Balance at 31 December 2024
100
2,971,946
2,972,046
ACTIVE BUSINESS SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
1
Accounting policies
Company information

Active Business Services Limited ('the company') acts as a holding company for a property occupied by an associated company.

The company is a private company limited by shares incorporated in England and Wales. The registered office is Parseq Lowton Way, Hellaby, Rotherham, South Yorkshire, S66 8RY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

1.2
Going concern

The company meets its day-to-day working capital requirements through the Parseq Limited Group's bank facilities. The company's forecasts and projections, taking account of reasonably possible changes in trading performance, show that the company should be able to operate within the level of its current facilities. After making enquiries, the directors' have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, The company therefore continues to adopt the going concern basis in preparing its financial statements.true

1.3
Turnover

Turnover comprises of rental income that is recognised on an accruals basis, in line with the lease terms when it is probable that economic benefits will flow to the entity and the amount can be measured reliably.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

ACTIVE BUSINESS SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
Basic financial assets

Basic financial assets, which include 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

ACTIVE BUSINESS SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 7 -
1.9

Restatement

These accounts include two prior period adjustments. The comparative bank loan balances have been restated to reflect the actual terms of the loan agreement. As a result of this reclassification, current liabilities and net current liabilities have increased by £2,941,164.

Additionally, a prior year classification adjustment was made in the fixed asset note to remove the brought forward cost of £938,003 and the corresponding accumulated depreciation of £938,003. This adjustment has no impact on the company’s profit and loss account or reserves.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is 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 estimate 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

The company had no employees in either the current or the prior year.

4
Tangible fixed assets

Formerly held fixtures and fittings that had been transferred to related companies had not been recognised, as a result a prior year classification adjustment was made to remove the brought forward cost of £938,003 and the corresponding accumulated depreciation of £938,003. This adjustment does not affect the company's profit and loss account or reserves.

5
Investment property
2024
£
Fair value
At 1 January 2024 and 31 December 2024
5,480,937

Under FRS 102 properties held for capital appreciation and/or rental income are classified as investment property even if occupied by a fellow group company. Freehold land and buildings noted above are occupied by an associated company, Parseq Limited.

Post year end, a valuation was performed by Sanderson Weatherall LLP, a firm of independent Chartered Surveyors. The basis of the valuation was market value with a restricted marketing period of 9 months for secured lending purposes. The director is satisfied that the brought forward valuation remains appropriate for the current reporting period.

Investment properties are measured at fair value. Had this class of asset been measured on a historical cost basis, the carrying amount would have been £5,267,624 (2023: £5,267,624).

The property is subject to a legal charge in favour of the Cynergy Bank and Bibby Financial Services Limited.

ACTIVE BUSINESS SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
298,429
185,554
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
346,000
360,000
Total debtors
644,429
545,554
7
Creditors: amounts falling due within one year
2024
2023
as restated
£
£
Bank loans
2,993,051
3,000,144
Amounts owed to group undertakings
150,000
50,000
Other creditors
11,650
-
0
3,154,701
3,050,144
8
Creditors: amounts falling due after more than one year
2024
2023
as restated
£
£
Bank loans and overdrafts
-
0
62,852

The loan above is secured by way of a debenture from Active Business Services Limited as well as a fixed charge over the land held by Active Business Services Limited. Additional security is provided by a personal guarantee from the ultimate controlling party.

9
Loans and overdrafts
2024
2023
£
£
Bank loans
2,993,051
3,062,996
Payable within one year
2,993,051
3,000,144
Payable after one year
-
0
62,852
ACTIVE BUSINESS SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
9
Loans and overdrafts
(Continued)
- 9 -

The bank loan is a secured mortgage repayable in monthly instalments over a period of 5 years commencing 31 January 2020 and carries interest at 4.65% over LIBOR. The mortgage is secured against the company's freehold property in Hellaby.

Following the year end the bank loan was refinanced, see note 14 for details.

10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
11
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Rachel Heath
Statutory Auditor:
Sumer Auditco Limited
Date of audit report:
16 January 2026
12
Financial commitments, guarantees and contingent liabilities

Bibby Financial S ervices Limited hold an unlimited guarantee and debenture between Parseq Limited, DMR Connect Ltd, Parseq (Hellaby) Ltd and Active B usiness Services Limited.

13
Related party transactions

As permitted under FRS 102 Section 1A, the company has applied the reduced disclosure framework available to small entities.

During the reporting period, the company did not enter into any material related party transactions that were not concluded under normal market conditions. Therefore, no related party disclosures are required in these financial statements.

14
Parent company
ACTIVE BUSINESS SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
14
Parent company
(Continued)
- 10 -

The immediate and ultimate parent undertaking is Parabellum Investments Limited, a limited company registered in Jersey.

The ultimate controlling party is Rami Cassis.

15
Post balance sheet event

Following the year end the company refinanced the bank loan with a new bank loan facility totalling £3,250,000, repayable over 60 months and subject to an interest rate of 2.95% above the Bank of England base rate. In addition to the legal charge over the freehold property detailed in note 5, the loan is supported by a guarantee from Parseq Limited and additional security is provided by a personal guarantee of £1m from the ultimate controlling party.

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