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Registered number: 02047933 BEAUFORT HOUSE LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 30 NOVEMBER 2025
BEAUFORT HOUSE LIMITED REGISTERED NUMBER: 02047933 BALANCE SHEET AS AT 30 NOVEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 319,390 |  | 297,513
Investments | 5 |  | 6,202,032 |  | 6,202,032
|  |  | 6,521,422 |  | 6,499,545
Current assets |  |  |  |  |
Stocks |  | 2,436,660 |  | 2,341,603 |
Debtors: amounts falling due within one year | 6 | 2,527,976 |  | 2,149,841 |
Cash at bank and in hand | 7 | 1,900,148 |  | 2,810,373 |
|  | 6,864,784 |  | 7,301,817 |
Creditors: amounts falling due within one year | 8 | (8,294,294) |  | (8,576,249) |
Net current liabilities |  |  | (1,429,510) |  | (1,274,432)
Total assets less current liabilities |  |  | 5,091,912 |  | 5,225,113
Provisions for liabilities |  |  |  |  |
Deferred tax | 9 |  | (44,403) |  | (44,403)
Net assets |  |  | 5,047,509 |  | 5,180,710
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 2 |  | 2
Revaluation reserve |  |  | 173,407 |  | 173,407
Profit and loss account |  |  | 4,874,100 |  | 5,007,301
|  |  | 5,047,509 |  | 5,180,710
Page 1
BEAUFORT HOUSE LIMITED REGISTERED NUMBER: 02047933 BALANCE SHEET (CONTINUED) AS AT 30 NOVEMBER 2025 The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 July 2026.
................................................ M J Osborne
Director
The notes on pages 3 to 10 form part of these financial statements. Page 2
BEAUFORT HOUSE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
1. | General information
Beaufort House Limited is a private company, limited by shares, incroporated in England and Wales, United Kingdom. The address of the registered office is Beaufort House, 12 Abingdon Road, London, W8 6AF. The principal activity of the Company continued to be that of property developers. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. 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 Company's functional and presentational currency is GBP. These financial statements are rounded to the nearest £. The following principal accounting policies have been applied:
| 2.2 | Exemption from preparing consolidated financial statements
The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
| 2.3 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.4 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.
| 2.5 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 3
BEAUFORT HOUSE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 2.Accounting policies (continued)
| 2.6 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.7 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Freehold property | - |  | Not depreciated
|  |  |  | Fixtures and fittings | - | 15% | Per annum on the reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Page 4
BEAUFORT HOUSE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 2.Accounting policies (continued)
| 2.8 | Revaluation of tangible fixed assets
Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date. Fair values are determined from market based evidence normally undertaken by professionally qualified valuers. Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
| 2.9 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.10 | Work in progress
Work in progress is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the development cost of the specific development. Work in progress includes directly attributable costs including labour and interest.
| 2.11 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.12 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.13 | Financial instruments
The Company only enters into basic financial instrument 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 related parties and investments in ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
| 2.14 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 5
BEAUFORT HOUSE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 2.Accounting policies (continued)
| 2.15 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.16 | 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.
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
4. | Tangible fixed assets
|  | Freehold property | Fixtures and fittings | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 December 2024 | 279,560 | 37,002 | 316,562
| Additions | - | 28,906 | 28,906
| At 30 November 2025 | 279,560 | 65,908 | 345,468
| Depreciation |  |  |
| At 1 December 2024 | - | 19,049 | 19,049
| Charge for the year on owned assets | - | 7,029 | 7,029
| At 30 November 2025 | - | 26,078 | 26,078
| Net book value |  |  |
| At 30 November 2025 | 279,560 | 39,830 | 319,390
| At 30 November 2024 | 279,560 | 17,953 | 297,513
Page 6
BEAUFORT HOUSE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 Cost or valuation at 30 November 2025 is as follows:
|  |  | Land and buildings
|  |  | £
|  | At cost | 61,750
|  | At valuation: |
|  | Revaluation by director on open market value | 217,810
|  |  | 279,560
| If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cost | 61,750 | 61,750
| Net book value | 61,750 | 61,750
5. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost |
| At 1 December 2024 | 6,393,900
| At 30 November 2025 | 6,393,900
| Impairment |
| At 1 December 2024 | 191,868
| At 30 November 2025 | 191,868
| Net book value |
| At 30 November 2025 | 6,202,032
| At 30 November 2024 | 6,202,032
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
Page 7
BEAUFORT HOUSE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 6.Debtors (continued)
| Amounts owed by other related entities | 2,266,770 | 1,974,181
| Other debtors | 261,206 | 175,660
|  | 2,527,976 | 2,149,841
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 1,900,148 | 2,810,373
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 2,607 | 1,323
| Amounts owed to group undertakings | 3,586,117 | 3,603,666
| Amounts owed to other related entities | 4,013,724 | 4,094,135
| Corporation tax | - | 14,713
| Other taxation and social security | 1,561 | 1,025
| Other creditors | 687,285 | 858,587
| Accruals and deferred income | 3,000 | 2,800
|  | 8,294,294 | 8,576,249
Page 8
BEAUFORT HOUSE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
9. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | (44,403)
| At end of year | (44,403)
| The deferred tax balance is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| On revalued freehold property | (44,403) | (44,403)
|  | (44,403) | (44,403)
| Comprising: |  |
| Liability | (44,403) | (44,403)
|  | (44,403) | (44,403)
10. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 2 (2024 - 2) Ordinary shares of £1.00 each | 2 | 2
11. | Pension commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £3,659 (2024 - £3,192). Contributions totalling £484 (2024 - £NIL) were payable to the fund at the balance sheet date. Page 9
BEAUFORT HOUSE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
12. | Related party transactions
| The company is party to a joint arrangement which also includes Beaufort House Design Limited, Beaufort House Surveyors Limited and Openyard Limited. The company accounts for its part of the assets, liabilities and cashflows held with the joint arrangement in accordance with Financial Reporting Standard 102. All future income and costs will be split by the joint arrangement members. During the year the company operated an intercompany account with Beaufort House Projects Limited, a subsidiary undertaking. The balance with Beaufort House Projects Limited as at 30 November 2025 was £2 (2024 - £2). During the year the company operated an intercompany account with Beaufort House Building Limited, a subsidiary undertaking. The balance due to Beaufort House Building Limited as at 30 November 2025 was £3,586,115 (2024 - £3,603,664). During the year the company operated an intercompany account with Openyard Limited, a company under common control. The balance due to Openyard Limited as at 30 November 2025 was £4,103,724 (2024 - £4,094,135). During the year the company operated an intercompany account with Beaufort House Surveyors Limited, a company in which M J Osborne has a material interest. The balance due to Beaufort House Surveyors Limited as at 30 November 2025 was £801,787 (2024 - £721,079). During the year the company operated an intercompany account with Beaufort House Design Limited, a company in which M J Osborne has a material interest. The balance due to Beaufort House Design Limited as at 30 November 2025 was £1,464,983 (2024 - £1,253,102). During the year the company paid dividends of £105,000 (2024 - £60,000) to M J Osborne, a director of the company. During the year the company operated a loan account with M J Osborne, a director of the company. The balance due to M J Osborne as at 30 November 2025 was £671,717 (2024 - £848,770).
13. | Controlling party
The company is under the immediate and ultimate control of M J Osborne, who owns all of the issued share capital.
Page 10