Company registration number 03369653 (England and Wales)
President Buildings Limited
Unaudited Financial Statements
For The Year Ended 30 September 2025
Pages For Filing With Registrar
PRESIDENT BUILDINGS LIMITED
President Buildings Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
PRESIDENT BUILDINGS LIMITED
President Buildings Limited
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
13,228
15,257
Investment property
4
3,000,000
3,000,000
Investments
5
-
0
75
3,013,228
3,015,332
Current assets
Debtors
6
77,633
109,413
Cash at bank and in hand
663,200
568,962
740,833
678,375
Creditors: amounts falling due within one year
7
(307,923)
(242,860)
Net current assets
432,910
435,515
Total assets less current liabilities
3,446,138
3,450,847
Provisions for liabilities
(2,000)
(3,300)
Net assets
3,444,138
3,447,547
Capital and reserves
Called up share capital
600
600
Capital redemption reserve
100
100
Other reserves
3,787
9,160
Profit and loss reserves
8
3,439,651
3,437,687
Total equity
3,444,138
3,447,547
PRESIDENT BUILDINGS LIMITED
President Buildings Limited
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2025
30 September 2025
- 2 -

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

T he 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

The financial statements were approved by the board of directors and authorised for issue on 6 February 2026 and are signed on its behalf by:
Mr D K Crossland
Director
Company registration number 03369653 (England and Wales)
PRESIDENT BUILDINGS LIMITED
President Buildings Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -
1
Accounting policies
Company information

President Buildings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1 President Buildings, Savile Street East, Sheffield, S4 7UQ.

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.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents rental income and associated service fees, which are recognised on an accruals basis across the period of each lease agreement. Lease incentives are spread across the life of each lease so as to straight line the income.

On termination of a lease, any amounts charged in respect of dilapidation costs are recognised as income immediately on the date of termination of the lease.

1.4
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:

Fixtures, fittings and equipment
15% Straight line

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.

1.5
Investment property

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.

PRESIDENT BUILDINGS LIMITED
President Buildings Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Loans to entities in which the company has an equity interest, but where the loans are substantially used for the growth of that company, are classified as fixed asset investments and accounted for at cost less provision for irrecoverability.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.8
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 current liabilities.

1.9
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.

PRESIDENT BUILDINGS LIMITED
President Buildings Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 5 -
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.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 associated 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
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.

PRESIDENT BUILDINGS LIMITED
President Buildings Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 6 -
1.11
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.

1.12
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.

2
Employees

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

2025
2024
Number
Number
Total
3
3
PRESIDENT BUILDINGS LIMITED
President Buildings Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 7 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2024
35,956
Additions
3,634
At 30 September 2025
39,590
Depreciation and impairment
At 1 October 2024
20,699
Depreciation charged in the year
5,663
At 30 September 2025
26,362
Carrying amount
At 30 September 2025
13,228
At 30 September 2024
15,257
4
Investment property
2025
£
Fair value
At 1 October 2024 and 30 September 2025
3,000,000

The investment property is included at open market value as at 30 September 2025 as determined by the directors, who are qualified chartered surveyors.

If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2025
2024
£
£
Cost
2,093,638
2,093,638
Accumulated depreciation
(437,452)
(416,516)
Carrying amount
1,656,186
1,677,122
5
Fixed asset investments
2025
2024
£
£
Other investments other than loans
-
0
75
PRESIDENT BUILDINGS LIMITED
President Buildings Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
5
Fixed asset investments
(Continued)
- 8 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 October 2024
75
Disposals
(75)
At 30 September 2025
-
Carrying amount
At 30 September 2025
-
At 30 September 2024
75

As at the year end P resident B uildings Limited disposed of its holding of 75 shares in Cygnus Estates Limited as the company has now been dissolved. A loss of £75 has been recognised in the profit and loss account.

6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
66,478
62,208
Other debtors
11,155
47,205
77,633
109,413
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
605
1,059
Taxation and social security
133,384
67,495
Other creditors
173,934
174,306
307,923
242,860
8
Profit and loss reserves

Included within profit and loss reserves are unrealised profits of £906,362 (2024 - £906,362) which relate to cumulative fair value gains made on investment properties, net of deferred tax provided thereon. As these gains are unrealised they are not permitted to be distributed to shareholders.

Other reserves represent a sinking fund paid into by tenants for any maintenance or repairs required to maintain the let units. The annual transfer relates to the adjustment for amounts spent within the terms of the fund, net of new contributions made by tenants.

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