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Company No: 10273934 (England and Wales)

# ASHGROVE SOUTHERN LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JULY 2025
PAGES FOR FILING WITH THE REGISTRAR

ASHGROVE SOUTHERN LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2025

Contents

ASHGROVE SOUTHERN LIMITED

## COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 JULY 2025
ASHGROVE SOUTHERN LIMITED

## COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 JULY 2025

DIRECTORS | Mr S Burch
| Mr K Burch
| Mr N Burch

REGISTERED OFFICE | Wey Court West
| Union Road
| Farnham
| Surrey
| GU9 7PT
| United Kingdom

COMPANY NUMBER | 10273934 (England and Wales)

ACCOUNTANT | Shaw Gibbs Limited
| Wey Court West
| Union Road
| Farnham
| Surrey
| GU9 7PT

ASHGROVE SOUTHERN LIMITED

## BALANCE SHEET

AS AT 31 JULY 2025
ASHGROVE SOUTHERN LIMITED

## BALANCE SHEET (continued)

AS AT 31 JULY 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 33,626 |  | 42,188
Investment property | 4 | 3,602,490 |  | 2,871,191
|  | 3,636,116 |  | 2,913,379
Current assets |  |  |  |
Debtors | 5 | 16,029 |  | 43,501
Cash at bank and in hand |  | 288,238 |  | 189,928
|  | 304,267 |  | 233,429
Creditors: amounts falling due within one year | 6 | ( 123,049) |  | ( 116,358)
Net current assets |  | 181,218 |  | 117,071
Total assets less current liabilities |  | 3,817,334 |  | 3,030,450
Creditors: amounts falling due after more than one year | 7 | ( 2,550,843) |  | ( 2,571,343)
Provision for liabilities | 8, 9 | ( 312,335) |  | ( 119,008)
Net assets |  | 954,156 |  | 340,099
Capital and reserves |  |  |  |
Called-up share capital |  | 102 |  | 102
Profit and loss account |  | 954,054 |  | 339,997
Total shareholders' funds |  | 954,156 |  | 340,099

For the financial year ending 31 July 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 financial statements for the financial year 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Ashgrove Southern Limited (registered number: 10273934) were approved and authorised for issue by the Board of Directors on 16 July 2026. They were signed on its behalf by:

Mr N Burch Director |

ASHGROVE SOUTHERN LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2025
ASHGROVE SOUTHERN LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Ashgrove Southern Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

##### Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

##### Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an
expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate
probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic
lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

##### Tangible fixed assets

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:

Plant and machinery | 4 years straight line
Vehicles | 4 years straight line
Computer equipment | 3 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.
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.

##### Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

##### Investment property

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.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### 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.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

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.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

##### Provisions

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 Balance Sheet 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).

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 3 |  | 3

#### 3. Tangible assets

| Plant and machinery |  | Vehicles |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 August 2024 | 14,067 |  | 63,489 |  | 2,133 |  | 79,689
Additions | 6,662 |  | 0 |  | 2,222 |  | 8,884
Disposals | 0 |  | 0 |  | ( 99) |  | ( 99)
At 31 July 2025 | 20,729 |  | 63,489 |  | 4,256 |  | 88,474
Accumulated depreciation |  |  |  |  |  |  |
At 01 August 2024 | 10,203 |  | 26,454 |  | 844 |  | 37,501
Charge for the financial year | 4,035 |  | 12,698 |  | 713 |  | 17,446
Disposals | 0 |  | 0 |  | ( 99) |  | ( 99)
At 31 July 2025 | 14,238 |  | 39,152 |  | 1,458 |  | 54,848
Net book value |  |  |  |  |  |  |
At 31 July 2025 | 6,491 |  | 24,337 |  | 2,798 |  | 33,626
At 31 July 2024 | 3,864 |  | 37,035 |  | 1,289 |  | 42,188

#### 4. Investment property

| Investment property
| £
Valuation |
As at 01 August 2024 | 2,871,191
Fair value movement | 731,299
As at 31 July 2025 | 3,602,490

Valuation

The 2025 valuations were made by the directors on 31 July 2025 on an open market value for existing use basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

| 2025 |  | 2024
| £ |  | £
Historic cost | 2,497,119 |  | 2,497,119

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 120 |  | 2,180
Prepayments | 15,909 |  | 15,296
Other debtors | 0 |  | 26,025
| 16,029 |  | 43,501

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 2,632 |  | 7,023
Accruals | 2,625 |  | 2,500
Taxation and social security | 17,791 |  | 6,834
Other creditors | 100,001 |  | 100,001
| 123,049 |  | 116,358

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Other loans | 915,000 |  | 915,000
Other creditors | 1,635,843 |  | 1,656,343
| 2,550,843 |  | 2,571,343

#### 8. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | 312,335 |  | 119,008

#### 9. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 119,008) |  | ( 107,831)
Charged to the Statement of Income and Retained Earnings | ( 193,327) |  | ( 11,177)
At the end of financial year | ( 312,335) |  | ( 119,008)

The deferred taxation balance is made up as follows:

| 2025 |  | 2024
| £ |  | £
Accelerated capital allowances | ( 38,501) |  | ( 38,459)
Tax losses carry forward | 0 |  | 10,808
Capital gains | ( 275,018) |  | ( 92,193)
Short term timing differences | 1,184 |  | 836
| ( 312,335) |  | ( 119,008)

#### 10. Related party transactions

Transactions with owners holding a participating interest in the entity

| 2025 |  | 2024
| £ |  | £
Interest charged on directors loans | 69,237 |  | 69,166
Amounts owed to directors at the year end | 1,735,843 |  | 1,756,343

At the year end the company owed the directors £1,735,843 (£1,756,343) interest is charged on these balances at a market rate. The loans have no fixed date of repayment.