REGISTERED NUMBER: 14771406 (England and Wales)

SER Real Estate Limited

Financial Statements

for the Period 1 April 2024 to 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C Serban

REGISTERED OFFICE:

Hunters Hall Farm

Epping Upland

Epping

Essex

CM16 6PL

REGISTERED NUMBER:

14771406 (England and Wales)

AUDITORS:

Gravita Audit II Ltd

Chartered Accountants & Statutory Auditors

Aldgate Tower

2 Leman Street

London

E1 8FA

FIXED ASSETS

Tangible assets

4

102,467

-

Investment property

5

4,413,431

-

4,515,898

-

CURRENT ASSETS

Debtors

6

58,058

-

Cash at bank and in hand

224,726

1

282,784

1

CREDITORS

Amounts falling due within one year

7

2,531,341

-

NET CURRENT (LIABILITIES)/ASSETS

(2,248,557

)

1

TOTAL ASSETS LESS CURRENT LIABILITIES

2,267,341

1

CREDITORS

Amounts falling due after more than one year

8

2,286,900

-

NET (LIABILITIES)/ASSETS

(19,559

)

1

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

(19,560

)

-

SHAREHOLDERS' FUNDS

(19,559

)

1

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 September 2025 and were signed by:

C Serban - Director

1.	COMPANY INFORMATION

SER Real Estate Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Hunters Hall Farm, Epping Upland, Epping, Essex, CM16 6PL.

2.	ACCOUNTING POLICIES

2.1 Reporting period

The period end was shortened to 31 December 2024, representing an 9 months period, to bring the period end date inline with the group entities. The comparative amounts presented in the financial statements (including the relevant notes) are therefore not entirely comparable as they cover a 12 months period.

2.2 Accounting convention

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.

2.3 Going concern

The company currently has a net liability position of £19,559 and made a loss of £19,560 during the period ended 31 December 2024.

The financial statements are prepared on the going concern basis on the assumption that the company will continue in operational existence for the foreseeable future, the validity of which depends upon on the ongoing support of the parent company SER Holdings Limited and related group entity SER Contractor Limited.

SER Holdings Limited and related group entity SER Contractor Limited have provided the company with a letter of support indicating that it will not seek repayment of its outstanding intercompany balance totalling £2,507,748 to the company to the detriment of other creditors in the 12 months following the formal approval of these financial statements. In addition, SER Holdings Limited and related group entity SER Contractor Limited have also confirmed that if the trading forecasts are not achieved, they will provide sufficient additional financial support in order for the Company to meet its obligation towards creditors and carry on trading for a period of at least 12 months from the date of approval of its financial statements. The financial statements include no adjustment that might otherwise be necessary if that support were not forthcoming.

2.4 Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Fair value of investment properties

The cost of investment property requires management judgement to capture identifiable costs that are directly attributable to the purchase of the property which should be added to the cost of the property and to identify costs that should be charged to the Statement of Comprehensive Income.

The fair value of investment property requires management to estimate the price at which the property could be exchanged between knowledgeable, willing parties in an arm's length transaction. The estimated selling price is reviewed by management with reference to independent external valuation where appropriate.

2.5 Turnover

Turnover represents revenue recognised by the company in respect of rents receivable.

Turnover is recognised at the fair value of the rents received or receivable based on the rent agreements and to the extent that it is probable that the economic benefits will flow to the company and it can be reliably measured.

2.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and equipment 10% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

2.7 Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

The fair value is determined by the directors with the benefit of professional external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any differences in the nature or location of the specified asset.

2.8 Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

106,000

At 31 December 2024

106,000

DEPRECIATION

Charge for period

3,533

At 31 December 2024

3,533

NET BOOK VALUE

At 31 December 2024

102,467

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

4,413,431

At 31 December 2024

4,413,431

NET BOOK VALUE

At 31 December 2024

4,413,431

The fair value of investment properties at the reporting date was based on a valuation carried out by the directors. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in its location, together with a review of property rental yields.

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

4,413,431

If investment property had not been revalued it would have been included at the following historical cost:

31.12.24

31.3.24

(Unaudited)

£

£

Cost

4,413,431

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.3.24

(Unaudited)

£

£

Trade debtors

57,467

-

Other debtors

591

-

58,058

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.3.24

(Unaudited)

£

£

Other creditors

10,858

-

Owed to group undertakings

2,507,748

-

Accruals and deferred income

12,735

-

2,531,341

-

Included within amounts owed to group undertakings are loan balances that are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.3.24

(Unaudited)

£

£

Bank loans and overdrafts

2,286,900

-

Bank loans are secured by way of a fixed and floating charge over the assets of the company. The bank loan is an interest only loan and carries an annual interest charge of 2.97%. It is fully repayable in September 2029.

Total aggregate secured liabilities is £2,286,900 (2023: £nil).

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.3.24

value:

£

£

1

Ordinary share capital

1

1

1

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and repayment of capital.

10.	AUDIT REPORT INFORMATION

11.	RELATED PARTY TRANSACTIONS

The company has taken advantage of the exemption in FRS 102 1AC.35 that transactions entered into between members of a group do not need to be disclosed as all relevant subsidiaries are wholly owned.

12.	PARENT COMPANY

The ultimate parent company is SER Holdings Limited. The parent company's registered office is Hunters Hall Farm, Epping Upland, Epping, Essex, CM16 6PL.

C Serban is the ultimate controlling party of SER Holdings Limited.