IRIS Accounts Production v24.3.2.46 11176110 director 1.8.23 31.7.24 31.7.24 Medium entities care homes. 0 0 true true false true true false false true true true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. 0 0 Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh111761102023-07-31111761102024-07-31111761102023-08-012024-07-31111761102022-07-31111761102022-08-012023-07-31111761102023-07-3111176110ns15:EnglandWales2023-08-012024-07-3111176110ns14:PoundSterling2023-08-012024-07-3111176110ns10:Director12023-08-012024-07-3111176110ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3111176110ns10:MediumEntities2023-08-012024-07-3111176110ns10:Audited2023-08-012024-07-3111176110ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-08-012024-07-3111176110ns10:Medium-sizedCompaniesRegimeForAccounts2023-08-012024-07-3111176110ns10:FullAccounts2023-08-012024-07-3111176110ns10:OrdinaryShareClass12023-08-012024-07-3111176110ns10:RegisteredOffice2023-08-012024-07-3111176110ns5:CurrentFinancialInstruments2024-07-3111176110ns5:CurrentFinancialInstruments2023-07-3111176110ns5:Non-currentFinancialInstruments2024-07-3111176110ns5:Non-currentFinancialInstruments2023-07-3111176110ns5:ShareCapital2024-07-3111176110ns5:ShareCapital2023-07-3111176110ns5:SharePremium2024-07-3111176110ns5:SharePremium2023-07-3111176110ns5:RetainedEarningsAccumulatedLosses2024-07-3111176110ns5:RetainedEarningsAccumulatedLosses2023-07-3111176110ns5:ShareCapital2022-07-3111176110ns5:RetainedEarningsAccumulatedLosses2022-07-3111176110ns5:SharePremium2022-07-3111176110ns5:RetainedEarningsAccumulatedLosses2022-08-012023-07-3111176110ns5:RetainedEarningsAccumulatedLosses2023-08-012024-07-3111176110112023-08-012024-07-3111176110112022-08-012023-07-3111176110ns5:CostValuation2023-07-3111176110ns5:Subsidiary12023-08-012024-07-31111761101ns5:Subsidiary12023-08-012024-07-3111176110ns5:Subsidiary22023-08-012024-07-3111176110ns5:Subsidiary232023-08-012024-07-3111176110ns5:Subsidiary32023-08-012024-07-31111761105ns5:Subsidiary32023-08-012024-07-3111176110ns5:Subsidiary42023-08-012024-07-31111761107ns5:Subsidiary42023-08-012024-07-3111176110ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3111176110ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-3111176110ns10:OrdinaryShareClass12024-07-3111176110ns5:RetainedEarningsAccumulatedLosses2023-07-3111176110ns5:SharePremium2023-07-31
REGISTERED NUMBER: 11176110 (England and Wales)















SAFFRONLAND GROUP LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024






SAFFRONLAND GROUP LIMITED (REGISTERED NUMBER: 11176110)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 7

Balance Sheet 8

Statement of Changes in Equity 9

Notes to the Financial Statements 10


SAFFRONLAND GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: Mr A M Lakhani





REGISTERED OFFICE: Maple House
121B Winchester Road
Chandlers Ford
Eastleigh
Hampshire
SO53 2DR





REGISTERED NUMBER: 11176110 (England and Wales)





AUDITORS: Rothmans Audit LLP
Statutory Auditors
Chartered Accountants
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR

SAFFRONLAND GROUP LIMITED (REGISTERED NUMBER: 11176110)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2024


The director presents his strategic report for the year ended 31 July 2024.

REVIEW OF BUSINESS
The company is a holding company and also holds the bank loans for the group. Other than interest payable on the bank loan there is little other activity in the period.

FUTURE DEVELOPMENTS
The company will continue to hold and finance the bank loan in line with the terms of the agreement.

PRINCIPAL RISKS AND UNCERTAINTIES
The key risk for the company relates to the bank loan as commented below.

LIQUIDITY RISKS
The director recognises the importance of funding and liquidity under the current economic climate and will continue to monitor the Company's financial resources to ensure that the Company is able to support its activities and future growth.

INTEREST RATE AND CASH FLOW RISKS
The Company has interest bearing liabilities such as bank loans which attracts interest at variable SONIA rates.
The Company manages the liquidity risk by ensuring there are sufficient funds to meet amounts due.

ON BEHALF OF THE BOARD:





Mr A M Lakhani - Director


8 April 2025

SAFFRONLAND GROUP LIMITED (REGISTERED NUMBER: 11176110)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 JULY 2024


The director presents his report with the financial statements of the company for the year ended 31 July 2024.

DIVIDENDS
The total distribution of dividends for the year ended 31 July 2024 will be £Nil (2023: £Nil).

DIRECTOR
Mr A M Lakhani held office during the whole of the period from 1 August 2023 to the date of this report.

THIRD PARTY INDEMNITIES
A qualifying third party indemnity provision for the benefit of the director was in force during the year under review and remains in force as at the date of approval of the financial statements.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Rothmans Audit LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr A M Lakhani - Director


8 April 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SAFFRONLAND GROUP LIMITED


Opinion
We have audited the financial statements of Saffronland Group Limited (the 'company') for the year ended 31 July 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 July 2024 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SAFFRONLAND GROUP LIMITED


Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory framework that the Company operates in, focusing on those laws and regulations that had a direct effect on the Financial Statements or that had a fundamental effect of the operations of the Company. The key laws and regulations we considered in this context include the UK Companies Act.

Discussions were held within the engagement team regarding how and where fraud might occur in the Financial Statements and any potential indicators of fraud. Audit procedures were designed to ensure all of the risks were addressed.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

o enquiring of management as to actual and potential litigation and claims; and
o reviewing any correspondence with regulators and the Company's legal advisors.

To address the risk of fraud through management bias and override of controls, we:

o performed analytical procedures to identify any unusual or unexpected relationships; and
o tested journal entries to identify unusual transactions; and
o assessed whether judgements and assumptions contained any indication of potential bias.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SAFFRONLAND GROUP LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Kevin Richards (Senior Statutory Auditor)
for and on behalf of Rothmans Audit LLP
Statutory Auditors
Chartered Accountants
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR

8 April 2025

SAFFRONLAND GROUP LIMITED (REGISTERED NUMBER: 11176110)

STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 31 JULY 2024

2024 2023
Notes £    £   

TURNOVER - -

Administrative expenses 542 411
OPERATING LOSS 4 (542 ) (411 )


Interest payable and similar expenses 5 1,548,626 769,592
LOSS BEFORE TAXATION (1,549,168 ) (770,003 )

Tax on loss 6 - -
LOSS FOR THE FINANCIAL YEAR (1,549,168 ) (770,003 )

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

(1,549,168

)

(770,003

)

SAFFRONLAND GROUP LIMITED (REGISTERED NUMBER: 11176110)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 7 16,072,539 16,072,539

CURRENT ASSETS
Debtors 8 14,305,085 15,246,941
Cash at bank - 111
14,305,085 15,247,052
CREDITORS
Amounts falling due within one year 9 904,931 16,558,000
NET CURRENT ASSETS/(LIABILITIES) 13,400,154 (1,310,948 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,472,693

14,761,591

CREDITORS
Amounts falling due after more than one
year

10

16,260,270

-
NET ASSETS 13,212,423 14,761,591

CAPITAL AND RESERVES
Called up share capital 12 500 500
Merger reserve 13 16,072,039 16,072,039
Retained earnings 13 (2,860,116 ) (1,310,948 )
SHAREHOLDERS' FUNDS 13,212,423 14,761,591

The financial statements were approved by the director and authorised for issue on 8 April 2025 and were signed by:





Mr A M Lakhani - Director


SAFFRONLAND GROUP LIMITED (REGISTERED NUMBER: 11176110)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024

Called up
share Retained Merger Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 August 2022 500 (540,945 ) 16,072,039 15,531,594

Changes in equity
Total comprehensive income - (770,003 ) - (770,003 )
Balance at 31 July 2023 500 (1,310,948 ) 16,072,039 14,761,591

Changes in equity
Total comprehensive income - (1,549,168 ) - (1,549,168 )
Balance at 31 July 2024 500 (2,860,116 ) 16,072,039 13,212,423

SAFFRONLAND GROUP LIMITED (REGISTERED NUMBER: 11176110)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. COMPANY INFORMATION

Saffronland Group Limited is a private limited company, limited by shares, registered in England and Wales. The company's registered number is 11176110 and the address of its registered office is 121B Winchester Road, Chandlers Ford, Eastleigh, Hampshire, SO53 2DR.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency is £ sterling.

Going concern
The financial statements have been prepared on the going concern basis.

Consolidated financial statements
The financial statements contain information about Saffronland Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken advantage of the exemption conferred by section 400 of the Companies Act 2006 not to produce consolidated financial statements as it is included in UK group accounts of a larger group.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirement of paragraph 33.7.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

1)Impairment of assets
Management use their judgement to determine if there are any indicators of impairment.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.


SAFFRONLAND GROUP LIMITED (REGISTERED NUMBER: 11176110)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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 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.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid and final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Debt instruments are measured at amortised cost. Financial liabilities are presented as such in the Balance Sheet. Finance costs and gains or losses relating to financial liabilities are included in the Income Statement. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited directly to equity.

Finance costs
Finance costs are charged to the Income Statement over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction on the proceeds of the associated capital instrument.

3. EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 31 July 2024 nor for the year ended 31 July 2023.

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

2024 2023
£    £   
Director's remuneration - -

4. OPERATING LOSS

The operating loss is stated after charging:

2024 2023
£    £   
Auditors remuneration 3,830 3,300

SAFFRONLAND GROUP LIMITED (REGISTERED NUMBER: 11176110)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 1,548,626 769,592

6. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 31 July 2024 nor for the year ended 31 July 2023.

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Loss before tax (1,549,168 ) (770,003 )
Loss multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

(387,292

)

(146,301

)

Effects of:
Utilisation of tax losses - group relief 391,991 146,301
Movement in deferred tax unprovided (4,699 ) -
Total tax charge - -

7. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 August 2023
and 31 July 2024 16,072,539
NET BOOK VALUE
At 31 July 2024 16,072,539
At 31 July 2023 16,072,539

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Saffronland Care Limited
Registered office: Maple House, 121b Winchester Road, Chandlers Ford, Hampshire, SO53 2DR
Nature of business: Nursing & residential care homes
%
Class of shares: holding
Ordinary 100.00

Saffronland Homes 1 Limited
Registered office: Maple House, 121b Winchester Road, Chandlers Ford, Hampshire, SO53 2DR
Nature of business: Nursing & residential care homes
%
Class of shares: holding
Ordinary 100.00

SAFFRONLAND GROUP LIMITED (REGISTERED NUMBER: 11176110)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


7. FIXED ASSET INVESTMENTS - continued

Saffronland Homes 2 Limited
Registered office: Maple House, 121b Winchester Road, Chandlers Ford, Hampshire, SO53 2DR
Nature of business: Nursing & residential care homes
%
Class of shares: holding
Ordinary 100.00

Saffronland Homes 2 Limited
Registered office: Maple House, 121b Winchester Road, Chandlers Ford, Hampshire, SO53 2DR
Nature of business: Nursing & residential care homes
%
Class of shares: holding
Ordinary 100.00

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 14,305,075 15,246,931
VAT 10 10
14,305,085 15,246,941

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 11) 904,931 16,558,000

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 11) 16,260,270 -

11. LOANS

An analysis of the maturity of loans is given below:

20242023
£   £   

Amounts falling due within one year895,00016,558,000
Amounts falling due between one and two years--
Amounts falling due between two and five years16,105,000-
17,000,00016,558,000

The above represents the repayment terms of the liability at the year end, excluding amortised cost adjustments.

The loan facilities are due for repayment in full by 18 March 2029. Interest payments are paid quarterly. Interest is charged on the loans at variable SONIA plus 2.55% until termination of the loans.

The loans are secured by way of legal charge on the following:

a)Freehold properties of the subsidiary companies of Saffronland Group Limited - Saffronland Homes 1
Limited, Saffronland Homes 2 Limited, Saffronland Homes 3 Limited and Homebeech Limited.
b)Unlimited cross guarantee from all subsidiaries of Saffronland Group Limited.
c)Fixed floating debenture over the assets and undertakings of all subsidiaries of Saffronland Group Limited.

SAFFRONLAND GROUP LIMITED (REGISTERED NUMBER: 11176110)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
500 Ordinary 1 500 500

Shares rank equally for voting purposes, each share entitles the holder to participate in a distribution by way of dividend and capital (including on a winding up of the company).

13. RESERVES
Retained Merger
earnings reserve Totals
£    £    £   

At 1 August 2023 (1,310,948 ) 16,072,039 14,761,091
Deficit for the year (1,549,168 ) (1,549,168 )
At 31 July 2024 (2,860,116 ) 16,072,039 13,211,923

14. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

15. ULTIMATE PARENT COMPANY AND ULTIMATE CONTROLLING PARTY

The company's immediate and ultimate parent undertaking is Saffronland Investments Limited, a company incorporated in England and Wales. The ultimate control of that company is exercised by Mr A M Lakhani.

The largest and smallest group in which the results of the company are consolidated is that headed by Saffronland Investments Limited, a company incorporated in England & Wales. The consolidated accounts of this company are available to the public and may be obtained from Companies House. No other group accounts include the results of the company.