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REGISTERED NUMBER: 13182732 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

SF1 PROPERTIES LIMITED

SF1 PROPERTIES LIMITED (REGISTERED NUMBER: 13182732)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SF1 PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: M Stankovic





REGISTERED OFFICE: Apartment 15
8 Whistler Square
Chelsea Barracks
London
SW1W 8BW





REGISTERED NUMBER: 13182732 (England and Wales)





ACCOUNTANTS: B&P Tax Legal Finance LLP
38 Craven Street
London
WC2N 5NG

SF1 PROPERTIES LIMITED (REGISTERED NUMBER: 13182732)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 105,913 122,085
Investment property 5 5,400,000 5,400,000
5,505,913 5,522,085

CURRENT ASSETS
Debtors 6 211,655 211,655
Cash at bank 528 315,650
212,183 527,305
CREDITORS
Amounts falling due within one year 7 (6,180,187 ) (6,071,150 )
NET CURRENT LIABILITIES (5,968,004 ) (5,543,845 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(462,091

)

(21,760

)

CAPITAL AND RESERVES
Called up share capital 1,040,000 1,040,000
Retained earnings 8 (1,502,091 ) (1,061,760 )
(462,091 ) (21,760 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SF1 PROPERTIES LIMITED (REGISTERED NUMBER: 13182732)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 director and authorised for issue on 26 November 2024 and were signed by:





M Stankovic - Director


SF1 PROPERTIES LIMITED (REGISTERED NUMBER: 13182732)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Sf1 Properties 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

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

SF1 PROPERTIES LIMITED (REGISTERED NUMBER: 13182732)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 141,905
Additions 5,645
At 29 February 2024 147,550
DEPRECIATION
At 1 March 2023 19,820
Charge for year 21,817
At 29 February 2024 41,637
NET BOOK VALUE
At 29 February 2024 105,913
At 28 February 2023 122,085


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 5,400,000
NET BOOK VALUE
At 29 February 2024 5,400,000
At 28 February 2023 5,400,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2024 5,400,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 6,245,062 6,245,062

The investment property was valued on an open market basis on 28 November 2022 by Chesterton Professional Valuations .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 211,655 211,655

SF1 PROPERTIES LIMITED (REGISTERED NUMBER: 13182732)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,577,000 3,390,000
Trade creditors 1,860 18,385
Other creditors 3,601,327 2,662,765
6,180,187 6,071,150

8. RESERVES
Retained
earnings
£   

At 1 March 2023 (1,061,760 )
Deficit for the year (440,331 )
At 29 February 2024 (1,502,091 )

9. RELATED PARTY DISCLOSURES

At the year end, there was an outstanding loan balance with Sf1 Clips - Slovenia a related party company amounting to £1,001,337 (2023:£995,605). The applicable annual interest rates on the loans ranges from 0.50% to 2%.

At the year end, there was an outstanding loan balance with a Sf1 Clips - Croatia a related party company amounting to £1,748,901 (2023:£869,455). The applicable interest rates on the loan were 2.40% for the period from March to December 2023 and 3.25% for the months of January to February 2024

At the year end, there was an outstanding loan balance with Punta - Croatia a related party company amounting to £685,812 (2023:£681,690). The applicable interest rates on the loan were 2.68% for the period from March to December 2023 and 2.40% for the months of January to February 2024.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M Stankovic.