1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 7,360,931 686,554 8,047,485 8,047,485 7,360,931 xbrli:pure xbrli:shares iso4217:GBP 11378592 2023-06-01 2024-05-31 11378592 2024-05-31 11378592 2023-05-31 11378592 2022-06-01 2023-05-31 11378592 2023-05-31 11378592 2022-05-31 11378592 bus:Director1 2023-06-01 2024-05-31 11378592 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 11378592 core:WithinOneYear 2024-05-31 11378592 core:WithinOneYear 2023-05-31 11378592 core:ShareCapital 2024-05-31 11378592 core:ShareCapital 2023-05-31 11378592 core:RetainedEarningsAccumulatedLosses 2024-05-31 11378592 core:RetainedEarningsAccumulatedLosses 2023-05-31 11378592 core:LandBuildings core:OwnedOrFreeholdAssets 2024-05-31 11378592 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 11378592 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 11378592 bus:SmallEntities 2023-06-01 2024-05-31 11378592 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 11378592 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 11378592 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11378592 bus:FullAccounts 2023-06-01 2024-05-31
COMPANY REGISTRATION NUMBER: 11378592
St Clair Brixton Limited
Filleted Unaudited Financial Statements
31 May 2024
St Clair Brixton Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
8,047,485
7,360,931
Current assets
Debtors
6
239,415
85,916
Cash at bank and in hand
170,562
160,540
---------
---------
409,977
246,456
Creditors: amounts falling due within one year
7
7,948,999
7,367,921
------------
------------
Net current liabilities
7,539,022
7,121,465
------------
------------
Total assets less current liabilities
508,463
239,466
---------
---------
Net assets
508,463
239,466
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
508,462
239,465
---------
---------
Shareholder funds
508,463
239,466
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 23 July 2025 , and are signed on behalf of the board by:
Mr D R Philips
Director
Company registration number: 11378592
St Clair Brixton Limited
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5th Floor, Thames Tower, Station Road, Reading, RG1 1LX, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties measured at fair value as adjusted.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation. Interest is capitalised on investment properties in the course of construction. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Investment property in the course of construction
£
Cost
At 1 June 2023
7,360,931
Additions
686,554
------------
At 31 May 2024
8,047,485
------------
Depreciation
At 1 June 2023 and 31 May 2024
------------
Carrying amount
At 31 May 2024
8,047,485
------------
At 31 May 2023
7,360,931
------------
The property is included at a director's valuation. The property was valued by Savills in September 2022 at £6,700,000 and the current valuation is based upon this valuation plus development costs incurred since, including borrowing costs.
6. Debtors
2024
2023
£
£
Trade debtors
83,916
83,916
Other debtors
155,499
2,000
---------
--------
239,415
85,916
---------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
4,439,999
4,480,000
Corporation tax
1,267
1,267
Social security and other taxes
95,828
40,758
Other creditors
3,411,905
2,845,896
------------
------------
7,948,999
7,367,921
------------
------------
The Bank Loan totalling £4,440,000 (2023 - £4,480,000) is secured on the property and assets held by the company.
8. Related party transactions
The company was under the control of Mr D R Philips throughout the year. Mr D R Philips is the sole director and shareholder. Other creditors includes an amount of £1,626,935 (2023 - £1,500,669) owed to St Clair Developments Limited, an associated company in which Mr D R Philips is the sole director and shareholder. Other creditors includes an amount of £157,039 (2023 - £157,039) owed to Rokesley Estates Limited, a company controlled by the brother of the director. Other creditors includes an amount of £3,221 (2023 - £2,549) owed to St Clair Lamb Yard Limited, an associated company in which Mr D R Philips is the sole director and shareholder. Other creditors includes an amount of £701,795 (2023 - £471,925) owed to the spouse of the director, Mr D R Philips . Other creditors includes an amount of £837,415 (2023 - £637,545) owed to the director, Mr D R Philips . Other debtors includes an amount of £2,000 (2023 - £2,000) due from St Clair Studios Limited, a 100% subsidiary of St Clair Developments Ltd, an associated company in which M D R Philips is the sole director and shareholder.