Steadfast Property Investors Ltd

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—5

Registered number: 09904770

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		439		206
Investment Properties	5		1,660,875		1,622,250

			1,661,314		1,622,456
CURRENT ASSETS
Debtors	6	1,878		748
Cash at bank and in hand		35,163		32,078

		37,041		32,826
Creditors: Amounts Falling Due Within One Year	7	(395,063 )		(403,207 )

NET CURRENT ASSETS (LIABILITIES)			(358,022 )		(370,381 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,303,292		1,252,075

Creditors: Amounts Falling Due After More Than One Year	8		(845,024 )		(845,024 )

NET ASSETS			458,268		407,051

CAPITAL AND RESERVES
Called up share capital	9		20		20
Income Statement			458,248		407,031

SHAREHOLDERS' FUNDS			458,268		407,051

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Steadfast Property Investors Ltd

Statement of Financial Position (continued)

As At 31 December 2024

For the 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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board

Mr James Maidwell

Director

26/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Steadfast Property Investors Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09904770 . The registered office is 85 Wellesley Road, Ilford, IG1 4LJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The accounts are presented in £ sterling.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

20% straightline

Investment property is carried at fair value, provided by the Director and 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 profit or loss.

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.

2.5. Taxation

Taxation expense for the year represents current tax recognised in the reporting period and is recognised in the statement of income and retained earnings. Current tax is the amount of income tax payable in respect of taxable profit for the year. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the year end. Current taxation assets and liabilities are not discounted.

Deferred tax assets are recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are only recognised 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 assets and liabilities are measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply in the periods in which any timing differences are expected to reverse. Deferred tax assets and liabilities are not discounted. No deferred tax asset has been recognised for the current or previous year.

2.6. Prepayments

Prepayments of £1,878 is made up of creditors paid in advance.

2.7. Property Deposits

Deposits received from tenants are held by Deposit Protection Scheme and not by the company.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 2)

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Steadfast Property Investors Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Tangible Assets

	Fixtures & Fittings
	£
Cost or Valuation
As at 1 January 2024	12,432
Additions	394

As at 31 December 2024	12,826

Depreciation
As at 1 January 2024	12,226
Provided during the period	161

As at 31 December 2024	12,387

Net Book Value
As at 31 December 2024	439

As at 1 January 2024	206

5. Investment Property

	2024
	£
Fair Value
As at 1 January 2024	1,622,250
Revaluations	38,625

As at 31 December 2024	1,660,875

6. Debtors

	2024	2023
	£	£
Due within one year
Other debtors	1,878	248
Due after more than one year
Other debtors	-	500

	1,878	748

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	41	1,743
Other creditors	392,031	393,918
Taxation and social security	2,991	7,546

	395,063	403,207

Amounts due within 12 months in respect of mortgage repayments are reflected below.

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Steadfast Property Investors Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	845,024	845,024

Long-term creditors comprise of mortgage finance secured over three freehold properties.

The mortgages are interest-only with no capital repayments and have a variable interest rate. As at 31 December 2024 the interest rates were as follows:

Buckswood - 5.99%
Lavant - 3.44%
Walnut - 3.44%

The remaining terms on the properties are:

Buckswood - 18 years
Lavant - 17 years
Walnut - 17 years

Mortgage repayments within 12 months comprise:

Buckswood - £18,285 (2023: £18,285)
Lavant - £9,909 (2023: £9,909)
Walnut - £8,765 (2023: £8,875)

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	20	20

10. Related Party Transactions

The balance of £389,754 (2023: £391,130) in loans from Directors comprises £79,892 (2023: £94,330) owed to Mr J Maidwell and £309,862 (2023: £296,800) owed to Ms M van den Berg. Amounts owed to the Directors are unsecured, interest-free and have no fixed terms of repayment.

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