Company Registration No. 08010028 (England and Wales)
Bevis Marks Properties Limited
Unaudited accounts
for the year ended 30 September 2025
Bevis Marks Properties Limited
Unaudited accounts
Contents
Bevis Marks Properties Limited
Company Information
for the year ended 30 September 2025
Directors
R Borchard
E Brenden
L Brenden
Company Number
08010028 (England and Wales)
Registered Office
5th Floor Bevis Marks House
24 Bevis Marks
London
EC3A 7JB
United Kingdom
Accountants
Fosters & Gate Consultancy Limited
39 Brim Hill
London
N2 0HA
Bevis Marks Properties Limited
Statement of financial position
as at 30 September 2025
Tangible assets
7,000
7,000
Investment property
33,270,941
33,270,941
Cash at bank and in hand
437,403
361,982
Creditors: amounts falling due within one year
(633,213)
(859,128)
Net current liabilities
(161,195)
(433,935)
Total assets less current liabilities
33,116,746
32,844,006
Creditors: amounts falling due after more than one year
(19,603,947)
(19,499,804)
Provisions for liabilities
Deferred tax
(1,640,574)
(1,640,574)
Net assets
11,872,225
11,703,628
Called up share capital
100
100
Profit and loss account
11,872,125
11,703,528
Shareholders' funds
11,872,225
11,703,628
For the year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 April 2026 and were signed on its behalf by
R Borchard
Director
Company Registration No. 08010028
Bevis Marks Properties Limited
Notes to the Accounts
for the year ended 30 September 2025
Bevis Marks Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 08010028. The registered office is 5th Floor Bevis Marks House, 24 Bevis Marks, London, EC3A 7JB, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these accounts. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these accounts. Accordingly, they continue to adopt the going concern basis in preparing the accounts.
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover represents amounts receivable for rent , and is shown net of VAT and other sales related taxes.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Bevis Marks Properties Limited
Notes to the Accounts
for the year ended 30 September 2025
Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible fixed assets and depreciation
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:
Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
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.
Plant & machinery
not depreciated
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible 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). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. 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.
Bevis Marks Properties Limited
Notes to the Accounts
for the year ended 30 September 2025
Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The fair value is determined annually by the directors, on an open market value for existing use basis.
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.
Bevis Marks Properties Limited
Notes to the Accounts
for the year ended 30 September 2025
The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.
Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 asset9s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Financial assets and liabilities are offset and 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.
Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Bevis Marks Properties Limited
Notes to the Accounts
for the year ended 30 September 2025
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).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The estimates and underlying assumptions are reviewed on an ongoing basis. Revision 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.
4
Tangible fixed assets
Plant & machinery
At 30 September 2025
7,000
At 30 September 2025
7,000
At 30 September 2024
7,000
Fair value at 1 October 2024
33,270,941
At 30 September 2025
33,270,941
The investment property was revalued by Fletcher King (Chartered Surveyors) on 4 November 2022 , on an open market basis and the directors believe that this is the fair value as at 30 September 2024. No depreciation is provided in respect of these properties.
On an historical cost basis these would have been included at an original cost of £26,708,646 (2023: £24,007,705}, and aggregate depreciation of £nil (2023: £nil).
Non-Distributable Reserves
Included within Profit and Loss reserves is a non-distributable reserve of £4,921,721.
Bevis Marks Properties Limited
Notes to the Accounts
for the year ended 30 September 2025
Amounts falling due within one year
Other debtors
29,973
63,211
7
Creditors: amounts falling due within one year
2025
2024
Other creditors
613,787
720,283
8
Creditors: amounts falling due after more than one year
2025
2024
Amounts owed to group undertakings and other participating interests
19,603,947
19,499,804
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Transactions with related parties
Transactions with the members of the group and with other related parties concluded under normal market conditions have not been disclosed as per section 1AC.35 of FRS 102.
11
Average number of employees
During the year the average number of employees was 3 (2024: 3).