Company No: 01349968 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	R M Jameson
	M Nash

REGISTERED OFFICE	68 Venn Street
	Clapham Common
	London
	SW4 0AX
	United Kingdom

COMPANY NUMBER

01349968 (England and Wales)

	Note	2024		2023
		£		£
Fixed assets
Investment property	3	2,500,000		2,500,000
Investments	4	100		100
		2,500,100		2,500,100
Current assets
Debtors	5	3,935,158		3,911,969
Cash at bank and in hand		25,013		412
		3,960,171		3,912,381
Creditors: amounts falling due within one year	6	( 13,838)		( 91,195)
Net current assets		3,946,333		3,821,186
Total assets less current liabilities		6,446,433		6,321,286
Creditors: amounts falling due after more than one year	7	( 293,076)		( 196,425)
Provision for liabilities	8	( 412,840)		( 412,840)
Net assets		5,740,517		5,712,021
Capital and reserves
Called-up share capital		4,800		4,800
Undistributable reserve		1,482,861		1,482,860
Profit and loss account		4,252,856		4,224,361
Total shareholders' funds		5,740,517		5,712,021

For the financial year ending 31 December 2024 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Sedley Place Limited (registered number: 01349968) were approved and authorised for issue by the Board of Directors on 17 September 2025. They were signed on its behalf by:

R M Jameson Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sedley Place Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 68 Venn Street, Clapham Common, London, SW4 0AX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

The company is a property investment company and therefore turnover represents rental income.

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 the entity becomes entitled to the income under the tenancy agreements on the accruals basis. Turnover is shown net of value added tax, and is recognised evenly over the terms of the lease.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate. Changes in fair value are recognised in profit or loss.

Fixed asset investments

Investments in subsidiaries are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

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 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.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year	0		0

3. Investment property

	Investment property
	£
Valuation
As at 01 January 2024	2,500,000
As at 31 December 2024	2,500,000

4. Fixed asset investments

	2024		2023
	£		£
Subsidiary undertakings	100		100

Investments in subsidiaries

	2024
	£
Cost
At 01 January 2024	100
At 31 December 2024	100
Carrying value at 31 December 2024	100
Carrying value at 31 December 2023	100

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.12.2024	Ownership 31.12.2023
Venn Property Limited	68 Venn Street, London, SW4 0AX	Property Investment	Ordinary	100.00%	100.00%

5. Debtors

	2024		2023
	£		£
Trade debtors	49,926		25,084
Amounts owed by group undertakings (note 9)	3,881,821		3,881,820
Other debtors	3,411		5,065
	3,935,158		3,911,969

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	0		55,401
Trade creditors	4,770		15,840
Taxation and social security	0		8,179
Other creditors	9,068		11,775
	13,838		91,195

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans (secured)	293,076		196,425

The company has a mortgage and overdraft which is denominated in sterling. The carrying amount at year end is £293,076 (2023 - £251,826).

These are secured over the freehold interest in the company's properties.

8. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 412,840)		( 412,840)
At the end of financial year	( 412,840)		( 412,840)

9. Related party transactions

Included within current financial liabilities is £1,936 (2023 - £1,936) owed to a director.

At the year end, the balance owed from Venn Property Limited, a company which is owned by Sedley Place Limited controlled by the directors, was £3,881,819 (2023 - £3,881,819).

At the year end, the balance owed to Sedley Place Design Limited, a company which is controlled by the directors, was £14,919 (2023 - £18,994).