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Registered number: 13889252










SF PARADISE MEMBER LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
SF PARADISE MEMBER LIMITED
REGISTERED NUMBER: 13889252

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 3 
16,969,556
13,269,650

  
16,969,556
13,269,650

Current assets
  

Debtors: amounts falling due within one year
 4 
-
3,641,801

  
-
3,641,801

Creditors: amounts falling due within one year
 5 
(57,056)
(35,509)

Net current (liabilities)/assets
  
 
 
(57,056)
 
 
3,606,292

Total assets less current liabilities
  
16,912,500
16,875,942

  

Net assets
  
16,912,500
16,875,942


Capital and reserves
  

Called up share capital 
 6 
16,969,556
16,911,471

Profit and loss account
  
(57,056)
(35,529)

  
16,912,500
16,875,942


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 statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

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




On Nakagawa
Director

Date: 14 March 2025

The notes on pages 3 to 5 form part of these financial statements.
Page 1

 
SF PARADISE MEMBER LIMITED
REGISTERED NUMBER: 13889252
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024


Page 2

 
SF PARADISE MEMBER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

SF Paradise Member Limited is a private company limited by shares which was incorporated in United Kingdom.
The principal place of business and registered address is Chancery House, 53-64 Chancery Lane, London, United Kingdom, WC2A 1QS.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
SF PARADISE MEMBER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Fixed asset investments





Investments in joint venture

£



Cost or valuation


At 1 January 2024
13,269,650


Additions
3,699,906



At 31 December 2024
16,969,556




The Company holds a 90% ownership interest in Paradise 11 Limited, whose registered office is located at A&L Suite 1-3, The Hop Exchange, 24 Southwark Street, London, SE1 1TY. Despite this majority ownership of the ordinary share capital, the investment is classified as a Joint Venture. This classification is based on the terms of the shareholders' agreement, which restrict the Company’s ability to exercise control over Paradise 11 Limited.


4.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
-
3,641,801

-
3,641,801



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
37,256
17,509

Accruals and deferred income
19,800
18,000

57,056
35,509



6.


Share capital

2024
2023
£
£
Allotted, called up share capital



1,696,955,640 (2023 - 1,691,147,100) Ordinary shares of £0.01 each
16,969,556
16,911,471

Page 4

 
SF PARADISE MEMBER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.Share capital (continued)


During the year the company issued 5,808,540 of ordinary share capital with a nominal value of £0.01 per share which were all fully paid as at 31 December 2024.


7.


Post balance sheet events

In January 2025, the Company increased its own share capital through the issue of 250,000,000 ordinary shares with a nominal value of £0.01 per share. Subsequently the total value of share capital was £19,469,556.


8.


Controlling party

The immediate parent company is Sumitomo Forestry Europe Limited, a company incorporated in the UK. The ultimate parent company is Sumitomo Forestry Co., Ltd, a company incorporated and registered in Japan. Sumitomo Forestry Co., Ltd is the parent undertaking of the smallest and largest group of undertaking to consolidate these financial statements at 31 December 2024. Copies of the parent company financial statements may be obtained from Sumitomo Forestry CO., Ltd, Keidanren Kaikan, 3-2, Otemachi 1-chome, Chiyoda-ku, Tokyo 100-8270, Japan.


9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 14 March 2025 by Yusuke Takanishi (Senior statutory auditor) on behalf of Greenback Alan LLP.

Page 5