REGISTERED NUMBER: 02395873 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

BARGETS (ESTATE AGENTS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr N B Stone

Mrs S Stone

SECRETARY:

Mrs S Stone

REGISTERED OFFICE:

16 Park Road

Regents Park

London

NW1 4SH

REGISTERED NUMBER:

02395873 (England and Wales)

ACCOUNTANTS:

MGR Weston Kay LLP

55 Loudoun Road

St John's Wood

London

NW8 0DL

BUSINESS ADDRESS:

16 Park Road

Regent's Park

London

NW1 4SH

FIXED ASSETS

Tangible assets

4

368,374

387,100

Investments

5

200

200

368,574

387,300

CURRENT ASSETS

Debtors

6

332,847

476,311

CREDITORS

Amounts falling due within one year

7

(436,091

)

(537,465

)

NET CURRENT LIABILITIES

(103,244

)

(61,154

)

TOTAL ASSETS LESS CURRENT LIABILITIES

265,330

326,146

CREDITORS

Amounts falling due after more than one year

8

(3,334

)

(41,003

)

PROVISIONS FOR LIABILITIES

11

-

(8,928

)

NET ASSETS

261,996

276,215

CAPITAL AND RESERVES

Called up share capital

12

10,000

10,000

Revaluation reserve

246,382

252,567

Retained earnings

5,614

13,648

SHAREHOLDERS' FUNDS

261,996

276,215

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2025 and were signed on its behalf by:

Mr N B Stone - Director

1.	STATUTORY INFORMATION

Bargets (Estate Agents) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Accounting convention

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of land and buildings. The principal accounting policies adopted are set out below.

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small sized group. The company has therefore taken advantage of the exemption provided by Section 399 of the Companies Act 2006 not to prepare group accounts.

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 current liabilities.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Turnover

Turnover represents amounts receivable for fees and expenses on the sale of properties net of VAT. Fees are recognised when contracts are exchanged.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and building leasehold

-

evenly over the period of the lease

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Taxation

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.

Retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Land and

Fixtures

building

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2024

400,000

12,682

49,422

74,778

536,882

Disposals

-

-

(342

)

-

(342

)

At 31 March 2025

400,000

12,682

49,080

74,778

536,540

DEPRECIATION

At 1 April 2024

59,893

9,999

31,171

48,719

149,782

Charge for year

8,556

670

2,694

6,515

18,435

Eliminated on disposal

-

-

(51

)

-

(51

)

At 31 March 2025

68,449

10,669

33,814

55,234

168,166

NET BOOK VALUE

At 31 March 2025

331,551

2,013

15,266

19,544

368,374

At 31 March 2024

340,107

2,683

18,251

26,059

387,100

The leasehold land and buildings were valued on an open market basis at £400,000 by an independent valuation on 31 March 2017. On an historical basis the property would have been included at an original cost of £175,000 (2024: £175,000).

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

200

NET BOOK VALUE

At 31 March 2025

200

At 31 March 2024

200

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

103,248

40,000

Other debtors

229,599

436,311

332,847

476,311

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts (see note 9)

109,783

214,424

Trade creditors

37,504

82,606

Amounts owed to group undertakings

95,734

96,311

Taxation and social security

26,092

113,357

Other creditors

166,978

30,767

436,091

537,465

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans (see note 9)

3,334

13,334

Other creditors

-

27,669

3,334

41,003

The aggregate amount of creditors for which security has been given amounted to £126,919 (2024: £241,166).

9.

LOANS

An analysis of the maturity of loans is given below:

31.3.25

31.3.24

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

99,783

204,424

Bank loans

10,000

10,000

109,783

214,424

Amounts falling due between one and two years:

Bank loans - 1-2 years

3,334

13,334

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

£

Within one year

6,000

6,000

Between one and five years

24,000

24,000

In more than five years

196,500

202,500

226,500

232,500

11.	PROVISIONS FOR LIABILITIES

31.3.24

£

Deferred tax

8,928

Deferred

tax

£

Balance at 1 April 2024

8,928

Credit to Income Statement during year

(10,233

)

Balance at 31 March 2025

(1,305

)

12.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

10,000

Share capital 1

1

10,000

10,000

13.	RELATED PARTY TRANSACTIONS

Included in other debtors is an amount of £182,662 (2024: £391,259) owed by a director to the company. During the year, dividends of £Nil (2024: £105,000) were paid to a director.