Company Registration No. 07219377 (England and Wales)
PUBPROP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
PUBPROP LIMITED
COMPANY INFORMATION
Director
DR Bowler
Company number
07219377
Registered office
30 Herondale Avenue
London
SW18 3JL
Accountants
Rickard Luckin Limited
1st Floor
County House
100 New London Road
Chelmsford
Essex
CM2 0RG
Bankers
National Westminster Bank plc
41 High Street
Beckenham
Kent
BR3 1DA
PUBPROP LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
PUBPROP LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,688
1,836
Investment properties
5
10,368,741
10,818,741
10,370,429
10,820,577
Current assets
Debtors
6
58,885
208,516
Cash at bank and in hand
183,785
94,504
242,670
303,020
Creditors: amounts falling due within one year
7
(1,376,829)
(2,506,037)
Net current liabilities
(1,134,159)
(2,203,017)
Total assets less current liabilities
9,236,270
8,617,560
Creditors: amounts falling due after more than one year
8
(5,758,814)
(4,852,095)
Provisions for liabilities
9
(607,000)
(687,000)
Net assets
2,870,456
3,078,465
Capital and reserves
Called up share capital
100
100
Share premium account
21
21
Profit and loss reserves
10
2,870,335
3,078,344
Total equity
2,870,456
3,078,465

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

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

PUBPROP LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 27 January 2026
DR Bowler
Director
Company Registration No. 07219377
PUBPROP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -
1
Accounting policies
Company information

Pubprop Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30 Herondale Avenue, London, SW18 3JL.

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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rent provided in the normal course of business, and is shown net of VAT and other sales related taxes.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
33.3% Reducing balance
Fixtures, fittings and equipment
15% Straight line
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. The surplus or deficit on revaluation is recognised in the profit and loss account.

1.5
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.

PUBPROP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

1.6
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.

1.7
Employee 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.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

PUBPROP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 5 -
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.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Revaluation of property

The valuation of the property owned by the company is carried out and completed by independent surveyors who are appointed by the company directors and have no other connection with the company. These valuations are regularly reviewed by the company and independent professionals to reflect the current value of the land and property and the expected useful life of the buildings held by the company.

Depreciation

The depreciation expense is recognised over the period of the estimated useful life of the asset and the allocation of the cost of the assets over the periods in which the assets will be used. Judgements are made on the estimated useful life of the assets which are regularly reviewed to reflect the changing environment.

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event, as the company's best estimate of the costs that will be incurred based on legislative and contractual requirements. Provision is made for deferred tax.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
4
PUBPROP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 30 April 2024
5,069
Additions
1,109
At 30 April 2025
6,178
Depreciation and impairment
At 30 April 2024
3,233
Depreciation charged in the year
1,257
At 30 April 2025
4,490
Carrying amount
At 30 April 2025
1,688
At 29 April 2024
1,836
5
Investment property
2025
£
Fair value
At 30 April 2024
10,818,741
Disposals
(200,000)
Revaluations
(250,000)
At 30 April 2025
10,368,741

Investment property comprises of eight properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the director DR Bowler, who wholly owns the company. The valuation was made on a fair value basis by reference to market evidence of transaction prices for similar properties.

6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Corporation tax recoverable
50,061
50,061
Other debtors
-
0
143,141
Prepayments and accrued income
8,824
15,314
58,885
208,516
PUBPROP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 7 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Secured bank loan (see note below)
94,365
2,313,502
Trade creditors
-
0
1,873
Corporation tax
30,691
38,439
Other taxation and social security
225,967
115,073
Other creditors
1,025,806
37,150
1,376,829
2,506,037

The secured bank loans and other creditors are secured by fixed charges over the properties of the company.

8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
5,758,814
4,852,095

The long-term loans and other creditors are secured by fixed charges over the properties of the company.

Creditors which fall due between two and five years are as follows:
2025
2024
£
£
Payable by instalments
888
11,196
Payable other than by instalments
5,757,926
4,840,899
5,758,814
4,852,095
9
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Tax losses
(64,773)
(47,273)
Investment property revalution
671,773
734,273
607,000
687,000
PUBPROP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
9
Deferred taxation
(Continued)
- 8 -
2025
Movements in the year:
£
Liability at 30 April 2024
687,000
Credit to profit or loss
(80,000)
Liability at 30 April 2025
607,000
10
Non-distributable profits reserve

The company has £2,584,751 (20 2 4: £2,754,751) of non distributable retained earnings and £285,584 (20 2 4: £323,593) of distributable retained earnings.

PUBPROP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 9 -
11
Directors' transactions

At the year end the company owed the director £986,183 (202 4: the director owed the company £133,141).

During the year, interest of £Nil (20 2 4: £2,514) was charged on a loan based upon HMRC's official rate of interest.

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