ACCOUNTS - Final Accounts preparation

Registered number: 00209304

WELSH THEOSOPHICAL TRUST LIMITED(THE)

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2025

WELSH THEOSOPHICAL TRUST LIMITED(THE)

REGISTERED NUMBER: 00209304

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		2,666		3,072
Investments	5		99,490		88,172
			102,156		91,244
Current assets
Debtors: amounts falling due within one year	6	-		703
Cash at bank and in hand		4,671		1,156
		4,671		1,859
Creditors: amounts falling due within one year	7	(4,156)		(3,361)
Net current assets/(liabilities)			515		(1,502)
Total assets less current liabilities			102,671		89,742
Provisions for liabilities
Deferred tax		(14,423)		(12,273)
			(14,423)		(12,273)
Net assets			88,248		77,469

Capital and reserves
Revaluation reserve	65,472	56,304
Profit and loss account	22,776	21,165
	88,248	77,469

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 profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

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WELSH THEOSOPHICAL TRUST LIMITED(THE)

REGISTERED NUMBER: 00209304

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2025

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

D Marsland

Director

Date: 24 September 2026

The notes on pages 3 to 8 form part of these financial statements.

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WELSH THEOSOPHICAL TRUST LIMITED(THE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

Welsh Theosophical Trust Limited is a private company, limited by guarantee, registered in England and Wales. The company’s registered number and registered office address can be found on the Company Information page.

The company’s functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These accounting policies have been consistently applied to all years presented unless otherwise states.

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 following principal accounting policies have been applied:

2.2

Turnover

Turnover represents rental income receivable during the year net of associated rental expenses.

2.3

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.

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WELSH THEOSOPHICAL TRUST LIMITED(THE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.4

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 land and buildings	-	1.85%	on a straight line basis
				Fixtures and fittings	-	15.00%	on a reducing balance basis

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.

2.5

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.6

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.

2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

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WELSH THEOSOPHICAL TRUST LIMITED(THE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.7

Financial instruments (continued)

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

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WELSH THEOSOPHICAL TRUST LIMITED(THE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

4.	Tangible fixed assets

	Freehold property	Fixtures and fittings	Total
	£	£	£
Cost or valuation
At 1 January 2025	21,759	2,184	23,943
At 31 December 2025	21,759	2,184	23,943
Depreciation
At 1 January 2025	18,714	2,157	20,871
Charge for the year on owned assets	403	3	406
At 31 December 2025	19,117	2,160	21,277
Net book value
At 31 December 2025	2,642	24	2,666
At 31 December 2024	3,045	27	3,072

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WELSH THEOSOPHICAL TRUST LIMITED(THE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

5.	Fixed asset investments

		Other fixed asset investments
		£
	Cost or valuation
	At 1 January 2025	88,172
	Revaluations	11,318
	At 31 December 2025	99,490

Debtors

					2025	2024
					£	£


Other debtors	-	703
	-	703

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Other creditors	2,716	2,161
Accruals and deferred income	1,440	1,200
	4,156	3,361

8.	Directors Loan Account

At the balance sheet date, the company owed £2,716 to its directors (2024: £2,161). This balance is unsecured, interest free and due on demand.

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WELSH THEOSOPHICAL TRUST LIMITED(THE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

9.	Company Limited By Guarante

The Company is limited by guarantee and does not have a share capital. Each member undertakes to contribute not more than 50 pence if required in the event of the winding up of the company.

Membership of the Company is comprised of the Regional Secretary, Treasurer and other members of the Regional Council of the Theosophical Society in Wales and any Fellow of that Society admitted by the directors.

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