Registration number: 09161556

Bailey & Passmore Properties Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Bailey & Passmore Properties Limited

(Registration number: 09161556)
Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	4,724	6,296
Investment property	5	905,254	1,620,000
Investments	6	20,000	20,000
		929,978	1,646,296
Current assets
Debtors	7	59,586	65,556
Cash at bank and in hand		52,776	58,285
		112,362	123,841
Creditors: Amounts falling due within one year	8	(782,094)	(645,244)
Net current liabilities		(669,732)	(521,403)
Total assets less current liabilities		260,246	1,124,893
Creditors: Amounts falling due after more than one year	8	(415,303)	(948,639)
Provisions for liabilities		(39,738)	(130,198)
Net (liabilities)/assets		(194,795)	46,056
Capital and reserves
Called up share capital		100	100
Other reserves		399,140	826,502
Retained earnings		(594,035)	(780,546)
Shareholders' (deficit)/funds		(194,795)	46,056

Bailey & Passmore Properties Limited

(Registration number: 09161556)
Balance Sheet as at 31 August 2025

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 May 2026 and signed on its behalf by:
 

......................................... Mr D J Bailey Director

Bailey & Passmore Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

The principal place of business is:
The Coach House
Cranhams Lane
Cirencester
Gloucestershire
GL7 1TZ
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The directors confirm that they will be able to provide ongoing financial support to the company for the foreseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises deferred tax.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Bailey & Passmore Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% reducing balance
Fixtures and fittings	25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Bailey & Passmore Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Bailey & Passmore Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

4	Tangible assets

	Fixtures and fittings £	Total £
Cost or valuation
At 1 September 2024	72,960	72,960
At 31 August 2025	72,960	72,960
Depreciation
At 1 September 2024	66,664	66,664
Charge for the year	1,572	1,572
At 31 August 2025	68,236	68,236
Carrying amount
At 31 August 2025	4,724	4,724
At 31 August 2024	6,296	6,296

5	Investment properties

	2025 £
At 1 September 2022	1,620,000
Additions	26,504
Disposals	(666,964)
Fair value adjustments	(74,286)
At 31 August 2023	905,254

There has been no valuation of investment property by an independent valuer.

6	Investments

	2025 £	2024 £
Investments in subsidiaries	20,000	20,000

Bailey & Passmore Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025