Registration number: 10011640

SOFF 452 Limited

(Registration number: 10011640)

Balance Sheet as at 28 February 2025

	Note	2025 £	2024 £
Fixed assets
Investment property	3	14,724,936	14,594,827
Investments	4	871,600	406,000
		15,596,536	15,000,827
Current assets
Debtors	5	26,723	18,681
Other financial assets	6	1,700,851	1,601,569
Cash at bank and in hand		122,068	123,422
		1,849,642	1,743,672
Creditors: Amounts falling due within one year	7	(3,594,637)	(3,400,222)
Net current liabilities		(1,744,995)	(1,656,550)
Total assets less current liabilities		13,851,541	13,344,277
Creditors: Amounts falling due after more than one year	7	(5,155,000)	(5,055,000)
Provisions for liabilities		(319,111)	(285,074)
Net assets		8,377,430	8,004,203
Capital and reserves
Called up share capital		5,035,512	5,035,512
Revaluation reserve		317,575	336,325
Retained earnings		3,024,343	2,632,366
Shareholders' funds		8,377,430	8,004,203

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

SOFF 452 Limited

(Registration number: 10011640)

Balance Sheet as at 28 February 2025 (continued)

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 21 August 2025 and signed on its behalf by:
 

.........................................

Mr A J B Smith

Director

SOFF 452 Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1	Accounting policies

Statutory information

SOFF 452 Limited is a private company, limited by shares, domiciled in England and Wales, company number 10011640. The registered office is at Pegasus House, 463a Glossop Road, Sheffield, S10 2QD.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover represents rental income from occupied investment properties.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

SOFF 452 Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

1	Accounting policies (continued)

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Investments

Investments in shares are included at fair value.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

3	Investment properties

	2025 £
At 1 March 2024	14,594,827
Additions	155,109
Fair value adjustments	(25,000)
At 28 February 2025	14,724,936

The investment properties were revalued on 28 February 2025 by the directors who are internal to the company. The basis of the valuation was existing use basis. This class of assets has a current value of £14,724,936 (2024: £14,594,827) and has a historical cost of £14,301,496 (2024: £14,146,387). The depreciation on this historical cost is £NIL.

SOFF 452 Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

4	Investments

	2025 £	2024 £
Investments in related undertakings	871,600	406,000