Navarino Group Limited - Filleted accounts


NAVARINO GROUP LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2026



































Company Registration Number: 13966626

NAVARINO GROUP LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026


CONTENTS									PAGES



Company information									1

Balance sheet									2 to 3

Notes to the financial statements									4 to 8

NAVARINO GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2026


DIRECTORS

C G W Codrington
Mrs N L Codrington
A M R Salter


SECRETARY

The company does not have an appointed secretary


REGISTERED OFFICE

Navarino House
Unit 1D Network Point
Range Road
Witney
Oxon
OX29 0YN


COMPANY REGISTRATION NUMBER

13966626 England and Wales

NAVARINO GROUP LIMITED

BALANCE SHEET
AS AT 31 MARCH 2026


	Notes	2026		2025
		£		£

FIXED ASSETS
Investments	5		34,598		10,000

CURRENT ASSETS
Debtors	6	62,275		46,614
Cash at bank and in hand		4,487,643		3,077,397


		4,549,918		3,124,011

CREDITORS: Amounts falling due within one year	7	89,147		32,244
CREDITORS: Amounts falling due within one year


NET CURRENT ASSETS			4,460,771		3,091,767


NET ASSETS			4,495,369		3,101,767


CAPITAL AND RESERVES
Called up share capital			10,000		10,000
Distributable profit and loss account			4,460,771		3,091,767
Capital contribution reserve			24,598		-


SHAREHOLDERS' FUNDS			4,495,369		3,101,767

NAVARINO GROUP LIMITED

BALANCE SHEET
AS AT 31 MARCH 2026


These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

Members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.


Signed on behalf of the board of directors




A M R Salter						C G W Codrington
Director						Director

Date approved by the board: 19 August 2026

NAVARINO GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026


1	GENERAL INFORMATION

	Navarino Group Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:

	Navarino House
	Unit 1D Network Point
	Range Road
	Witney
	Oxon
	OX29 0YN

	The financial statements are presented in Sterling, which is the functional currency of the company.

2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

	Basis of preparation of financial statements

	These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.

	Investments

	Investments in subsidiaries are shown at cost less accumulated impairment losses.

NAVARINO GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026

2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Financial Instruments

	A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

	The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

	Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through the profit and loss account.

	Basic financial assets and financial liabilities are initially recognised at transaction price and measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. They are subsequently carried at their amortised cost using the effective interest rate method, less any provision for impairment. If the effect of the time value of money is immaterial, they are measured at cost less impairment.

	Basic financial assets and liabilities which are measured at cost or amortised cost are reviewed for objective impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the profit and loss account immediately.

Any reversals of impairment are recognised in the profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset or liability which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.


	Financing transactions are measured at the present value of the future receipts discounted at a market rate of interest. They are subsequently measured at amortised costs using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

	Debtors

	Short term debtors are measured at transaction price, less any impairment.

	Creditors

	Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.

NAVARINO GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Taxation

	Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.

	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.

	Deferred tax is measured using 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.

	Current and deferred tax assets and liabilities are not discounted.

	Foreign currencies

	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

	Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the rate of exchange prevailing at that date. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit or loss.


	Consolidation

	The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has therefore taken advantage of the option provided by section 399 of the Companies Act 2006 not to prepare group accounts.

3	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

	No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.

NAVARINO GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026

4	EMPLOYEES

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

		2026		2025
	Average number of employees	3		3


5	FIXED ASSET INVESTMENTS
			Investment in subsidiary
				£
	Cost
	At 1 April 2025			10,000

	Additions			24,598


	At 31 March 2026			34,598


	Net book value
	At 1 April 2025			10,000


	At 31 March 2026			34,598


6	DEBTORS
		2026		2025
		£		£
	Prepayments and accrued income	13,483		-
	Other debtors	48,792		46,614


		62,275		46,614


7	CREDITORS: Amounts falling due within one year
		2026		2025
		£		£
	Taxation and social security	37,768		8,058
	Accruals and deferred income	3,001		3,001
	Other creditors	48,378		21,185


		89,147		32,244

NAVARINO GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026


8	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

	The following directors' advances, credits and guarantees took place during the year:

		Balance at 1 April 2025	Amounts advanced	Amounts repaid	Amounts written off or waived	Balance at 31 March 2026
		£	£	£	£	£
	C G W Codrington	12,811	9,609	-	-	22,420
	Mrs N L Codrington	22,368	627	-	-	22,995


		35,179	10,236	-	-	45,415

	Interest has been charged on these advances at the Beneficial Loan Arrangement Official Rate as prescribed by HM Revenue and Customs. These advances are repayable on demand.

9	RELATED PARTY TRANSACTIONS

	The company has claimed exemptions from reporting disclosure of related party transactions with the following wholly owned group members:

	Navarino Services Limited	Subsidiary undertaking

10	SHARE BASED PAYMENTS

	The company operates an equity settled share based payment plan for certain employees using the Enterprise Management Incentive (EMI) scheme framework.

	Each employee in the scheme has been awarded an option to acquire ordinary shares in the company's parent company over a vesting period. The conditions of the agreement require the employee to remain employed by the company throughout this period and options can only be exercised upon a change of ownership of the company. The maximum term of the options is 10 years from the grant date.


	Brought forward	Additions	Exercised	Lapsed	Carried Forward
Quantity	56,500	10,000	-	-	66,500
Average exercise price (£)	1.00	2.63	-	-	1.27

During the year, the company operated an equity-settled share option scheme under the EMI framework. Options were granted to eligible employees. The fair value at the date of grant has been measured using the Black-Scholes option pricing model. The amount recognised as an expense in relation to EMI options during the period was £24,598 (2025: £Nil). The cumulative amount recognised in the capital contribution reserve at 31 March 2026 was £24,598 (2025: £Nil).