South Gare Developments Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

South Gare Developments Ltd

Company Information

Directors

Mrs Laura Jean Rutherford Mr Keith Rutherford

Registered office

7 Lorton Road Redcar Cleveland TS10 4LY

Accountants

Chuhan and Singh Partnership Limited Chartered Accountants81 Borough Road Middlesbrough TS1 3AA

South Gare Developments Ltd

(Registration number: 09319904)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	2,715,404	2,301,561
Current assets
Debtors	5	(1,286)	5,208
Cash at bank and in hand		26,833	36,695
		25,547	41,903
Creditors: Amounts falling due within one year	6	(1,320,182)	(1,012,278)
Net current liabilities		(1,294,635)	(970,375)
Total assets less current liabilities		1,420,769	1,331,186
Creditors: Amounts falling due after more than one year	6	(327,943)	(375,794)
Provisions for liabilities		(34,560)	(34,560)
Net assets		1,058,266	920,832
Capital and reserves
Called up share capital		100	100
Other reserves		264,327	264,327
Retained earnings		793,839	656,405
Shareholders' funds		1,058,266	920,832

South Gare Developments Ltd

(Registration number: 09319904)
Balance Sheet as at 31 March 2025 (continued)

For the financial year ending 31 March 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 prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 August 2025 and signed on its behalf by:
 

......................................... Mrs Laura Jean Rutherford Director

......................................... Mr Keith Rutherford Director

South Gare Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
7 Lorton Road
Redcar
Cleveland
TS10 4LY

These financial statements were authorised for issue by the Board on 22 August 2025.

2	Accounting policies

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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.

South Gare Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land & Buildings	Nil

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

South Gare Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2024 - 1).

4	Tangible assets

	Land and buildings £	Total £
Cost or valuation
At 1 April 2024	2,306,561	2,306,561
Revaluations	121,165	121,165
Additions	287,678	287,678
At 31 March 2025	2,715,404	2,715,404
Depreciation
Carrying amount
At 31 March 2025	2,715,404	2,715,404
At 31 March 2024	2,301,561	2,301,561

Included within the net book value of land and buildings above is £2,715,404 (2024 - £2,301,561) in respect of freehold land and buildings.
 

South Gare Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

5

Debtors

Current	2025 £	2024 £
Trade debtors	(1,286)	5,208
	(1,286)	5,208

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	71,554	71,554
Trade creditors		15,868	6,893
Amounts owed to group undertakings and undertakings in which the company has a participating interest		1,188,681	874,095
Taxation and social security		3,816	24,585
Accruals and deferred income		2,247	2,220
Other creditors		38,016	32,931
		1,320,182	1,012,278

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	327,943	375,794

South Gare Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	327,943	375,794

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	71,554	71,554