Sheffield Science Park Company Limited (Limited by Guarantee)

Registered number

01825398

Filleted Accounts

31 March 2025

Sheffield Science Park Company Limited (Limited by Guarantee)
Registered number:		01825398
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		161,539			224,430
Investments	5		100			100
			161,639			224,530

Current assets
Debtors	6	256,137			176,154
Cash at bank and in hand		483,255			551,416
		739,392			727,570

Creditors: amounts falling due within one year	7	(148,493)			(117,188)

Net current assets			590,899			610,382

Total assets less current liabilities			752,538			834,912

Creditors: amounts falling due after more than one year	8		(8,129)			(18,330)

Provisions for liabilities			(142,920)			(189,883)


Net assets			601,489			626,699

Capital and reserves
Profit and loss account			601,489			626,699

Shareholder's funds			601,489			626,699

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




NEIL MACDONALD
Director
Approved by the board on 16.09.2025

Sheffield Science Park Company Limited (Limited by Guarantee)
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).




	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:


	Short leasehold building improvements	over the lease term

	Fixtures and equipment	over 5 years

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			13		10


3	Tangible fixed assets
		Short leasehold improvements		Fixtures and equipment		Total
£			£		£
	Cost
	At 1 April 2024	766,312		309,886		1,076,198
	Additions	11,460		50,538		61,998
	At 31 March 2025	777,772		360,424		1,138,196

	Depreciation
	At 1 April 2024	556,081		295,687		851,768
	Charge for the year	93,359		31,530		124,889
	At 31 March 2025	649,440		327,217		976,657

	Net book value
	At 31 March 2025	128,332		33,207		161,539
	At 31 March 2024	210,231		14,199		224,430

4	Leasehold property

	The company leases property from Sheffield City Council. The lease is a short term and expires 7th December 2026. Lease renewal negotiations are ongoing.



5	Investments
Investments in
subsidiary
undertakings
£
	Cost
	At 1 April 2024					100

	At 31 March 2025					100

	Leahs Yard Limited ,(a private limited company), was incorporated 23rd April 2021. It is a wholly owned subsidiary company of Sheffield Science Park Company Limited. Sheffield Science Park Company Limited owns 100 £1 ordinary shares in Leahs Yard Limited. Sheffield Science Park Company Limited has provided an overall guarantee to Sheffield City Council in respect of Leahs Yard Limited for £100,000. The principal activity of Leahs Yard Limited is the subletting of retail and studio space within a heritage building on which it holds the headlease with Sheffield City Council.
6	Debtors			2025		2024
£					£

	Trade debtors			35,280		2,543
	Amounts owed by group undertakings and undertakings in which the company has a participating interest			203,490		167,625
	Other debtors			17,367		5,986
				256,137		176,154

	Amounts due after more than one year included above			124,154		121,856
	Amount owed by Leahs Yard Limited, (a fully owned subsidiary), includes a £173024 loan. The loan repayment commenced February 2025. Interest of 4% applies.

7	Creditors: amounts falling due within one year			2025		2024
£					£

	Bounce back loan			6,667		6,667
	Trade creditors			12,178		21,954
	Amounts owed to group undertakings and undertakings in which the company has a participating interest			5,822		-
	Taxation and social security costs			40,736		20,439
	Other creditors			83,090		68,128
				148,493		117,188


8	Creditors: amounts falling due after one year			2025		2024
£					£

	Bounce back loan			8,129		18,330


9	Capital commitments			2025		2024
£					£

	Amounts contracted for but not provided in the accounts			12,000		-


10	Other financial commitments			2025		2024
£					£

	Total future minimum payments under non-cancellable operating leases			45,184		32,678


11	Related party transactions			£	£

	Ms E Wallis is a director of Sero Consulting Limited and a non-exec director of Sheffield Science Park Company Limited to 11th March 2025.
	Consultancy purchased from Sero Consulting Limited			-		1,200


12	Other information

	Sheffield Science Park Company Limited (Limited by Guarantee) is a private company limited by guarantee and incorporated in England. Its registered office is:
	Cooper Buildings
	Arundel Street
	Sheffield
	S1 2NS