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
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debtors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
Net current (liabilities)/assets
|
|
|
|
|
|
Total assets less current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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:
The notes on pages 3 to 5 form part of these financial statements.
|
SF PARADISE MEMBER LIMITED
REGISTERED NUMBER: 13889252
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024
|
SF PARADISE MEMBER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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
|
|
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:
Investments in subsidiaries are measured at cost less accumulated impairment.
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.
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.
|
SF PARADISE MEMBER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
|
|
Investments in joint venture
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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.
|
|
|
|
|
|
Amounts owed by group undertakings
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed to group undertakings
|
|
|
|
Accruals and deferred income
|
|
|
|
|
|
|
|
|
|
|
|
|
Allotted, called up share capital
|
|
|
|
|
|
|
|
|
|
1,696,955,640 (2023 - 1,691,147,100) Ordinary shares of £0.01 each
|
|
|
|
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.
|
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.
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.
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.
|