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Registered number: 12111458
1 Browns Lane Limited
Unaudited Financial Statements
For The Year Ended 31 December 2025
Attune Accountants Limited
Chartered Accountants
Church Farm, Maris Lane
Trumpington
Cambridge
Cambridgeshire
CB2 9LG
Contents
Page
Statement of Financial Position 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Statement of Financial Position
Registered number: 12111458
2025 2024
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 14,000,000 14,500,000
14,000,000 14,500,000
CURRENT ASSETS
Debtors 5 66,966 1
Cash at bank and in hand 1,864,006 289,397
1,930,972 289,398
Creditors: Amounts Falling Due Within One Year 6 (14,837,742 ) (13,415,213 )
NET CURRENT ASSETS (LIABILITIES) (12,906,770 ) (13,125,815 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,093,230 1,374,185
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 - (62,500 )
NET ASSETS 1,093,230 1,311,685
CAPITAL AND RESERVES
Called up share capital 9 1 1
Fair value reserve (187,500 ) 187,500
Income Statement 1,280,729 1,124,184
SHAREHOLDERS' FUNDS 1,093,230 1,311,685
Page 1
Page 2
For the year ending 31 December 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr K W Richardson
Director
14 August 2026
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Fair value reserve Income Statement Total
£ £ £ £
As at 1 January 2024 1 187,500 976,390 1,163,891
Profit for the year and total comprehensive income - - 147,794 147,794
As at 31 December 2024 and 1 January 2025 1 187,500 1,124,184 1,311,685
Loss for the year and total comprehensive income - - (218,455 ) (218,455)
Transfer to/from Fair value reserve - - 375,000 375,000
Transfer to/from Profit & Loss Account - (375,000 ) - (375,000)
As at 31 December 2025 1 (187,500 ) 1,280,729 1,093,230
Page 3
Page 4
Notes to the Financial Statements
1. General Information
1 Browns Lane Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12111458 . The registered office is Church Farm, Maris Lane, Trumpington, Cambridge, Cambridgeshire, CB2 9LG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The company and the group it is a member of qualify as small as set out in section 383 of the Companies Act 2006 and are considered eligible for the exemption to prepapre group accounts. Accordingly, these financial statements have been compiled for the company as a single entity.
2.2. Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 
Turnover represents rental income receivable on the company's investment properties, net of value added tax. 
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
2.4. 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.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
Page 4
Page 5
4. Investment Property
2025
£
Fair Value
As at 1 January 2025 14,500,000
Fair value adjustments (500,000 )
As at 31 December 2025 14,000,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2025 2024
£ £
Cost 14,250,000 14,250,000
Accumulated depreciation and impairment 1,662,500 1,377,500
Carrying amount 12,587,500 12,872,500
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 4,465 -
Other debtors 62,501 1
66,966 1
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 5,700 -
Amounts owed to participating interests 14,718,233 13,131,124
Other creditors 52,796 208,358
Taxation and social security 61,013 75,731
14,837,742 13,415,213
7. Deferred Taxation
Provision for tax on future capital gains as follows:-
2025 2024
£ £
Revaluation of investment properties (62,500 ) 62,500
Page 5
Page 6
8. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 January 2025 62,500 62,500
Reversals (125,000 ) (125,000)
Balance at 31 December 2025 (62,500 ) (62,500)
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
10. Related Party Transactions
These accounts include interest of £309,616 (2024: £330,244) payable to the parent company Spire Bricks & Mortar Limited in respect of bank borrowings undertaken on the company's behalf.
11. Ultimate Parent Undertaking and Controlling Party
The company's immediate parent undertaking is Spire Bricks and Mortar Limited, and it's ultimate parent undertaking is Spirit Holdings Limited . Spirit Holdings Limited was incorporated in England and Wales. The ultimate controlling party is Mr D Guiver .
Page 6