Company No: 01979368 (England and Wales)

Contents

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

Director

Mrs P M McCleave

Secretary

Mrs P M McCleave

Registered office	2nd Floor
	168 Shoreditch High Street
	London
	E1 6RA
	United Kingdom

Company number

01979368 (England and Wales)

Accountant	Kreston Reeves LLP
	2nd Floor
	168 Shoreditch High Street
	London
	E1 6RA

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	678		915
Investments	4	3,225,190		3,225,190
		3,225,868		3,226,105
Current assets
Stocks		837,838		837,838
Debtors	5	1,357,170		1,395,073
Cash at bank and in hand		517,532		563,480
		2,712,540		2,796,391
Creditors: amounts falling due within one year	6	( 10,582)		( 10,143)
Net current assets		2,701,958		2,786,248
Total assets less current liabilities		5,927,826		6,012,353
Provision for liabilities	7, 8	( 401,000)		( 401,000)
Net assets		5,526,826		5,611,353
Capital and reserves
Called-up share capital	9, 11	2		2
Revaluation reserve		1,649,164		1,649,164
Profit and loss account		3,877,660		3,962,187
Total shareholder's funds		5,526,826		5,611,353

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.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges 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 Sidrew Limited (registered number: 01979368) were approved and authorised for issue by the Director on 27 September 2025. They were signed on its behalf by:

Mrs P M McCleave 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

Sidrew 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 2nd Floor ,168 Shoreditch High Street, London, E1 6RA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Turnover

Sale of properties

Turnover represents the consideration for redeveloped property sales recognised on legal completion.

Sale of paintings

Turnover represents the consideration received when ownership is transferred.

Rent receivable

Other operating income comprises rent receivable from the company's properties.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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:

Plant and machinery	25 % reducing balance
Fixtures and fittings	25 % reducing balance

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.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		2

3. Tangible assets

	Plant and machinery		Fixtures and fittings		Total
	£		£		£
Cost
At 01 January 2024	11,871		13,957		25,828
At 31 December 2024	11,871		13,957		25,828
Accumulated depreciation
At 01 January 2024	11,601		13,312		24,913
Charge for the financial year	73		164		237
At 31 December 2024	11,674		13,476		25,150
Net book value
At 31 December 2024	197		481		678
At 31 December 2023	270		645		915

4. Fixed asset investments

	2024		2023
	£		£
Subsidiary undertakings	190		190
Other investments and loans	3,225,000		3,225,000
	3,225,190		3,225,190

5. Debtors

	2024		2023
	£		£
Prepayments	4,371		3,748
Other debtors	1,352,799		1,391,325
	1,357,170		1,395,073

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Amounts owed to own subsidiaries	190		190
Accruals and deferred income	10,392		9,953
	10,582		10,143

7. Provision for liabilities

	2024		2023
	£		£
Deferred tax	401,000		401,000

Other

The provision for deferred taxation is made up of Property Revaluations.

8. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 401,000)		( 401,000)
At the end of financial year	( 401,000)		( 401,000)

The deferred taxation balance is made up as follows:

	2024		2023
	£		£
Revaluation of investment property	( 401,000)		( 401,000)

9. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
2 Class 1 ordinary shares of £ 1.00 each	2		2

10. Related party transactions

At the year end the company owed John Lesley Properties Limited £90 (2023 - £90) and Aragon Property Company Limited £100 (2023 - £100).

The company paid dividends of £100,000 (2023 - £100,000) to Mr. D and Mrs. P McCleave, the directors.

During the year the company incurred management charges of £25,000 (2023 - £25,000) from a partnership controlled by Mrs. P McCleave. Advancements made during the period totalled £132,488 and repayments totalled £87,814. Included within other debtors is an amount of £398,052 due from the partnership (2023 - £453,378).

11. Reserves

Profit & loss account

This reserve comprises all current and prior period retained profits and losses after deducting any distributions made to the company's shareholders.

Share capital

This represents the nominal value of shares that have been issued by the company.

Non distributable reserve

The company has adopted the revaluation model for the measurement of its investment properties. This reserve is used to record increases in the fair value of investment properties, less a related provision for deferred tax.

12. Ultimate controlling party

The company is controlled by Mrs. P McCleave who own all of the issued share capital.