# B.P. MARSH & PARTNERS PLC (Company No: 05674962) # UNAUDITED INTERIM FINANCIAL STATEMENTS # FOR THE PERIOD ENDED 31ST MAY 2025 ![img-0.jpeg](img-0.jpeg) *RE8CSJ41* RM 06/08/2025 #1 COMPANIES HOUSE *AE7EETMP* A05 23/07/2025 #125 COMPANIES HOUSE --- # B.P. MARSH & PARTNERS PLC ## INDEX | Section | Page | | --- | --- | | STATEMENT OF COMPREHENSIVE INCOME | 1 | | STATEMENT OF FINANCIAL POSITION | 2 | | STATEMENT OF CHANGES IN EQUITY | 3 | | STATEMENT OF CASH FLOWS | 3 | | NOTES TO THE FINANCIAL STATEMENTS | 4-5 | | DIRECTOR’S STATEMENT | 6 | --- 1 # B.P. MARSH & PARTNERS PLC # STATEMENT OF COMPREHENSIVE INCOME # FOR THE PERIOD ENDED 31ST MAY 2025 | | Notes | Unaudited Period Ended 31st May 2025 | | Audited Year Ended 31st January 2025 | | | --- | --- | --- | --- | --- | --- | | | | £'000 | £'000 | £'000 | £'000 | | GAINS ON INVESTMENTS | | | | | | | Unrealised gains on equity investment revaluation | | - | - | 99,499 | 99,499 | | INCOME Dividends | | 16,501 | 16,501 | - | - | | OPERATING INCOME | | | 16,501 | | 99,499 | | OPERATING PROFIT | | | 16,501 | | 99,499 | | PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION | | | 16,501 | | 99,499 | | Income taxes | | | - | | - | | PROFIT ON ORDINARY ACTIVITIES AFTER TAXATION ATTRIBUTABLE TO EQUITY HOLDERS | 5 | | £16,501 | | £99,499 | | TOTAL COMPREHENSIVE INCOME FOR THE PERIOD | 5 | | £16,501 | | £99,499 | The result for the period is wholly attributable to continuing activities. The notes on pages 4 to 5 form part of these financial statements --- 2 # B.P. MARSH & PARTNERS PLC # STATEMENT OF FINANCIAL POSITION 31ST MAY 2025 (Company Number: 05674962) | | Notes | Unaudited Period Ended 31st May 2025 | Audited Year Ended 31st January 2025 | | --- | --- | --- | --- | | | | £'000 | £'000 | | ASSETS | | | | | NON-CURRENT ASSETS | | | | | Investments – equity portfolio | | 290,359 | 290,359 | | Investments – subsidiaries | | 47,148 | 36,123 | | Loans and receivables | | 1,979 | 1,979 | | | | 339,486 | 328,461 | | CURRENT ASSETS | | | | | Cash and cash equivalents | | 7 | 7 | | TOTAL CURRENT ASSETS | | 7 | 7 | | TOTAL ASSETS | | 339,493 | 328,468 | | NET ASSETS | | £339,493 | £328,468 | | CAPITAL AND RESERVES - EQUITY | | | | | Called up share capital | 5 | 3,710 | 3,710 | | Share premium account | 5 | 29,356 | 29,356 | | Fair value reserve | 5 | 288,216 | 288,216 | | Capital redemption reserve | 5 | 44 | 44 | | Retained earnings | 5 | 18,167 | 7,142 | | SHAREHOLDERS' FUNDS - EQUITY | 5 | £339,493 | £328,468 | The condensed interim financial statements were approved by the Board of Directors and signed on its behalf by: ![img-1.jpeg](img-1.jpeg) F.L. Chappell 18th July 2025 The notes on pages 4 to 5 form part of these financial statements --- 3 # B.P. MARSH & PARTNERS PLC # STATEMENT OF CHANGES IN EQUITY # FOR THE PERIOD ENDED 31ST MAY 2025 | | Unaudited Period Ended 31st May 2025 | Audited Year Ended 31st January 2025 | | --- | --- | --- | | | £'000 | £'000 | | Opening total equity | 328,468 | 233,355 | | Comprehensive income for the year | 16,501 | 99,499 | | Dividends paid | (5,476) | (3,964) | | Repurchase of company shares | - | (835) | | Share incentive and share option plan | - | 413 | | TOTAL EQUITY | £339,493 | £328,468 | Refer to Note 5 for detailed analysis of the changes in the components of equity. # STATEMENT OF CASH FLOWS # FOR THE PERIOD ENDED 31ST MAY 2025 | | Notes | Unaudited Period Ended 31st May 2025 | Audited Year Ended 31st January 2025 | | --- | --- | --- | --- | | | | £'000 | £'000 | | Cash from operating activities | | | | | Dividends received from subsidiary undertakings | | 16,501 | - | | Net cash from operating activities | | 16,501 | - | | Net cash used by financing activities | | | | | (Increase) / decrease in amounts owed by group undertakings | | (11,025) | 2,260 | | Adjustment relating to non-cash items | | - | 413 | | Dividends paid | 4 | (5,476) | (3,964) | | Payments made to repurchase company shares | | - | (835) | | Cash received in respect of JSOP shares sold | | - | 2,126 | | Net cash used by financing activities | | - | - | | Change in cash and cash equivalents | | - | - | | Cash and cash equivalents at beginning of the period | | 7 | 7 | | Cash and cash equivalents at end of period | | £ 7 | £ 7 | The notes on pages 4 to 5 form part of these financial statements --- 4 # B.P. MARSH & PARTNERS PLC # NOTES TO THE FINANCIAL STATEMENTS # FOR THE PERIOD ENDED 31ST MAY 2025 ## 1. ACCOUNTING POLICIES B.P. Marsh & Partners Plc is a public limited company incorporated in England and Wales under the Companies Act 2006 and domiciled in the United Kingdom. The address of the Company’s registered office is 5th Floor, 4 Matthew Parker Street, London SW1H 9NP. ### Basis of preparation of financial statements These condensed interim financial statements for the four-month period ended 31st May 2025 have been prepared in accordance with UK-adopted international accounting standards, and in accordance with the Companies Act 2006. The financial statements are unaudited and have not been filed previously. The interim financial statements do not include all of the notes normally included in the annual consolidated financial statements. Accordingly, this report should be read in conjunction with the annual consolidated financial statements for the year ended 31st January 2025. The accounting policies adopted are consistent with those of the previous financial year. The interim financial statements are presented in sterling, the functional currency of the Company, rounded to the nearest thousand pounds (£’000) except where otherwise indicated. ## 2. PURPOSE OF INTERIM FINANCIAL STATEMENTS These interim financial statements have been prepared in accordance with Section 836(1) of the Companies Act 2006 to demonstrate the availability of sufficient distributable reserves for the declaration of a dividend. ## 3. DISTRIBUTABLE RESERVES As at 31st May 2025 the retained earnings available for distribution are £18,167,103. ## 4. DIVIDENDS | | Unaudited Period Ended 31st May 2025 | Audited Year Ended 31st January 2025 | | --- | --- | --- | | | £’000 | £’000 | | Ordinary dividends | | | | Dividend paid: | | | | 14.86 pence each on 36,848,398* Ordinary shares (Year to 31st January 2025: 10.72 pence each on 36,977,431* Ordinary shares) | 5,476 | 3,964 | | | £5,476 | £3,964 | *Due to the Company making two separate dividend payments during the current period (Year to 31st January 2025: three dividend payments made), the calculation of the number of ordinary shares on which the dividend was paid is an average based upon the total aggregate dividend distribution made divided by the total pence per ordinary share distributed during the period. --- 5 # B.P. MARSH & PARTNERS PLC # NOTES TO THE FINANCIAL STATEMENTS # FOR THE PERIOD ENDED 31ST MAY 2025 ## 5. STATEMENT OF CHANGES IN EQUITY | | Share capital £'000 | Share premium account £'000 | Fair value reserve £'000 | Capital redemption reserve £'000 | Retained earnings £'000 | Total £'000 | | --- | --- | --- | --- | --- | --- | --- | | At 1st February 2025 | 3,710 | 29,356 | 288,216 | 44 | 7,142 | 328,468 | | Comprehensive income for the year | - | - | - | - | 16,501 | 16,501 | | Dividends paid (Note 4) | - | - | - | - | (5,476) | (5,476) | | At 31st May 2025 | £3,710 | £29,356 | £288,216 | £44 | £18,167 | £339,493 | ## 6. EVENTS AFTER THE REPORTING DATE Since 31st May 2025, the Company has paid a total of £989,714 including commission, in order to repurchase 140,000 ordinary shares at an average price of 703 pence per share. --- 6 # B.P. MARSH & PARTNERS PLC ## DIRECTOR'S STATEMENT ### FOR THE PERIOD ENDED 31ST MAY 2025 I confirm that these unaudited interim financial statements give a true and fair view of the financial position of B.P. Marsh & Partners Plc as at 31st May 2025 and that, based on these interim financial statements, the Company has sufficient distributable reserves to support the proposed distribution. ![img-2.jpeg](img-2.jpeg) F.L. Chappell Director 18th July 2025