Company No: 03587027 (England and Wales)

Contents

• Company Information
• Statement of Financial Position
• Notes to the Financial Statements

DIRECTOR

C F Mckay

REGISTERED OFFICE	Wey Court West
	Union Road
	Farnham
	Surrey
	GU9 7PT
	United Kingdom

COMPANY NUMBER

03587027 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	Wey Court West
	Union Road
	Farnham
	Surrey
	GU9 7PT

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	535,008		633,024
Tangible assets	4	15,294		17,654
		550,302		650,678
Current assets
Stocks	5	22,994		25,549
Debtors	6	51,032		42,396
Cash at bank and in hand	7	188,015		354,419
		262,041		422,364
Creditors: amounts falling due within one year	8	( 228,151)		( 258,980)
Net current assets		33,890		163,384
Total assets less current liabilities		584,192		814,062
Creditors: amounts falling due after more than one year	9	( 380,653)		( 456,033)
Provision for liabilities	10	( 5,634)		( 6,490)
Net assets		197,905		351,539
Capital and reserves
Called-up share capital		2		2
Other reserves	12	115,806		115,806
Profit and loss account		82,097		235,731
Total shareholder's funds		197,905		351,539

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.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Bourne Buildings Limited (registered number: 03587027) were approved and authorised for issue by the Director on 29 November 2025. They were signed on its behalf by:

C F Mckay 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

Bourne Buildings 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 Wey Court West, Union Road, Farnham, Surrey, GU9 7PT, 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 £.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings 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 Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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.

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:

Goodwill	10 years straight line
Development costs	10 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

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:

Leasehold improvements	10 years straight line
Fixtures and fittings	25 % reducing balance
Computer equipment	25 % reducing balance

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

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. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving 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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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 Statement of Financial Position 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).

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	7		6

3. Intangible assets

	Goodwill		Development costs		Total
	£		£		£
Cost
At 01 April 2024	960,000		20,160		980,160
At 31 March 2025	960,000		20,160		980,160
Accumulated amortisation
At 01 April 2024	344,000		3,136		347,136
Charge for the financial year	96,000		2,016		98,016
At 31 March 2025	440,000		5,152		445,152
Net book value
At 31 March 2025	520,000		15,008		535,008
At 31 March 2024	616,000		17,024		633,024

4. Tangible assets

	Leasehold improve- ments		Fixtures and fittings		Computer equipment		Total
	£		£		£		£
Cost
At 01 April 2024	15,906		5,280		1,476		22,662
At 31 March 2025	15,906		5,280		1,476		22,662
Accumulated depreciation
At 01 April 2024	1,326		3,057		625		5,008
Charge for the financial year	1,591		556		213		2,360
At 31 March 2025	2,917		3,613		838		7,368
Net book value
At 31 March 2025	12,989		1,667		638		15,294
At 31 March 2024	14,580		2,223		851		17,654

5. Stocks

	2025		2024
	£		£
Stocks	22,994		25,549

6. Debtors

	2025		2024
	£		£
Trade debtors	37,005		42,394
Prepayments	14,027		0
Other debtors	0		2
	51,032		42,396

7. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	188,015		354,419

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	24,084		4,749
Amounts owed to director	90		0
Accruals	4,700		4,700
Corporation tax	65,627		81,355
Other taxation and social security	56,332		72,307
Other creditors	77,318		95,869
	228,151		258,980

9. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Other creditors	380,653		456,033

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2025		2024
	£		£
Other creditors (repayable by instalments)	39,516		131,139

10. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 6,490)		( 5,717)
Credited/(charged) to the Statement of Income and Retained Earnings	856		( 773)
At the end of financial year	( 5,634)		( 6,490)

The deferred taxation balance is made up as follows:

	2025		2024
	£		£
Accelerated capital allowances	( 5,634)		( 6,490)

11. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
within one year	57,000		57,000
between one and five years	228,000		228,000
after five years	19,000		76,000
Total future minimum lease payments under non-cancellable operating leases	304,000		361,000

12. Reserves

Other reserves

Capital contribution reserve

This reserve represents the capital contribution made by a related party on a below market rate loan.