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Registered number: 09265020
DEERHURST SECURITIES LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2025
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DEERHURST SECURITIES LIMITED
REGISTERED NUMBER: 09265020
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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DEERHURST SECURITIES LIMITED
REGISTERED NUMBER: 09265020
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2025
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 comprehensive income 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 by:
The notes on pages 3 to 7 form part of these financial statements.
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DEERHURST SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Deerhurst Securities Limited is a private company, limited by shares and registered in England & Wales under the Companies Act. The address of the registered office is given on the contents page and the nature of the Company's operations and its principal activity are set out in the directors' report.
2.Accounting policies
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Basis of preparation of financial statements
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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 following principal accounting policies have been applied:
The turnover shown in the Statement of Comprehensive Income represents rents and service charges net of VAT accruing in respect of the year. Turnover represents rents receivable from the letting of investment property and is wholly attributable to the principal activity of the Company and arises solely within the United Kingdom.
Investment properties are initially measured at cost and subsequently measured at fair value whilst a reliable measure of fair value is available without undue cost or effort. Changes in fair value are recognised in the Statement of Comprehensive Income.
Incentive payments to new tenants to occupy the Company's investment properties are initially recorded as prepayments. The payments are charged to the Statement of Comprehensive Income so as to reduce rental income on the lease over the period until the earlier of the end of the lease and the date rentals are expected to revert to the prevailing market rate. The properties are carried at open market value less the amount of the unamortised incentive.
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.
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DEERHURST SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The Company is expected to continue to generate positive cash flows on its own account for the foreseeable future and the shareholders have confirmed that they will continue to financially support the group during this period. As a consequence, the directors believe that the Company is well placed to manage its business risks successfully.
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
The Company and its directors have received assurances from its shareholders and related lenders, that funds will be available if needed. As a consequence the directors have a reasonable expectation that the Company and the Group will have sufficient resources to fund their operations for at least the next twelve months from the date of this report.
The directors consider that this should enable the Company to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due for payment. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so.
Financial assets are initially measured at transaction price (including transaction costs) and subsequently held at costs, less any impairment.
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Cash and cash equivalents
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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.
Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form. Financial liabilities are initially measured at transaction price (including transaction costs) and subsequently held at amortised cost.
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 reporting date in the countries where the Company operates and generates income.
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DEERHURST SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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In preparing these financial statements, the directors have made the following judgments:
3.1 Valuation of investment properties
Investment properties are valued annually by the directors, having regard to recent independent external valuations performed on each of the portfolio assets or comparable properties held by other group undertakings. The properties are valued using a yield methodology method which uses current passing rental values capitalised at a market capitalisation rate, but there is an inevitable degree of judgment involved in that each property is unique and value can ultimately only be reliably tested in the market itself.
3.2 Recoverable value of recognised receivables
The recoverability of trade receivables is regularly reviewed in the light of the available economic information specific to each receivable and specific provisions are recognised for balances considered to be irrecoverable.
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The average monthly number of employees, including directors, during the year was 4 (2024 - 4).
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Freehold investment property
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Long term leasehold investment property
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The 2025 valuations were made by Cushman & Wakefield, on an open market value for existing use
basis.
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DEERHURST SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Amounts owed by group undertakings
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Prepayments and accrued income
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All amounts fall due for payment within one year.
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Amounts due to group undertakings are unsecured, interest free with no fixed terms of repayment.
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DEERHURST SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Creditors: Amounts falling due after more than one year
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Included within creditors due after more than one year are bank borrowings of £20,000,000 (2024: £16,500,000) owed to Lloyds Bank. During the year, it was decided that 45.09% of the loans held by the company be transferred to another group company in proportion to the value of properties held compared to the group as a whole (£9,018,000).
The Group has total available lending facilities of £31,500,000, comprising a committed facility of £16,500,000 and an accordion facility of £15,000,000.
During the year, £3,500,000 of the accordion facility was utilised. At the year end, £11,500,000 of the accordion facility remained undrawn. The loan is subject to a fixed interest rate of 5% and will expire on 14 March 2028.
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Allotted, called up and fully paid
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1 (2024 - 1) Ordinary share of £1.00
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Called up share capital - represents the nominal value of shares that have been issued
Profit and loss account - includes all current and prior period retained profits and losses.
The Company is controlled by the Lister family by virtue of their shareholding in the ultimate parent company. The ultimate parent company is Apperley Properties Limited, incorporated in the United Kingdom. Copies of Apperley Properties Limited's consolidated financial statements for year ended 31 December 2025 are available and can be obtained from the company's registered office at 45 Welbeck Street, London, W1G 8DZ.
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.
The audit report was signed on 17 September 2026 by Daniel Walters (Senior Statutory Auditor) on behalf of Harris & Trotter LLP.
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