REGISTERED NUMBER: 07450675 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CAMDEN STREET DEVELOPMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M Da Cruz

E Sjolander Da Cruz

REGISTERED OFFICE:

Studio 211 Scott House

Gibb Street

Birmingham

B9 4AA

REGISTERED NUMBER:

07450675 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

2nd Floor, 55 Ludgate Hill

London

EC4M 7JW

CURRENT ASSETS

Stocks

1,454,757

1,366,680

Debtors

4

275

277

Cash at bank

5

1,513,096

2,030

2,968,128

1,368,987

CREDITORS

Amounts falling due within one year

6

(2,815,675

)

(1,222,323

)

NET CURRENT ASSETS

152,453

146,664

TOTAL ASSETS LESS CURRENT LIABILITIES

152,453

146,664

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

152,452

146,663

SHAREHOLDERS' FUNDS

152,453

146,664

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

E Sjolander Da Cruz - Director

1.	STATUTORY INFORMATION

Camden Street Development Limited is a private company limited by shares, it is incorporated and domiciled in the England and Wales. The address of the company's registered office is Studio 211 Scott House, Gibb Street, Birmingham, B9 4AA.

The principal activity of the company is that of property development.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

Going concern

The director considers the going concern basis to be appropriate having paid due regard to the company's projected results during the twelve months from the date the financial statements are approved and in regards to the company's current and anticipated bank facilities and the availability of support, if required, from the parent undertaking.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Tax is recognised in the Statement of income and retained earnings.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date and in the countries where the company operates and generates

income.

Foreign currency translation

Functional and presentational currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and

non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of income and retained earnings.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within ‘Administrative expenses’.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of income and retained earnings on a straight line basis over the period of the lease.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors

Short term creditors are measured at the transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

1

1

Prepayments

274

276

275

277

5.	CASH AT BANK

2024

2023

£

£

Cash at bank and in hand

1,513,096

2,030

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

2,554

2,653

Amounts owed to group undertakings

2,736,686

1,173,179

Taxation and social security

104

-

Other creditors

76,331

46,491

2,815,675

1,222,323

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary

1

1

1

8.	RELATED PARTY DISCLOSURES

At the year end the company owed Liv Projekt Limited £3,567 (2023: £3,567), Liv Property Limited £1,228,641 (2023: £88,700), Liv Property 2 Limited £971 (2023: £670), and owed £nil (2023: £1,079,941) to Liv Property 3 Limited. All are fellow subsidiaries.

At the year end the company owed H2 Projekt AB, the immediate parent, £1,503,507 (2023: £nil). This loan is repayable on demand and the interest rate is 4.5%.

During the year, Liv Projekt charged the company management fees of £10,000 (2023: £10,000). These are recorded in accruals at the year end.

During the year, Sjolander da Cruz Architects Limited, a company under the control of the directors, charged the company rent of £4,284 (2023: £2,142), shown within administrative expenses, and architecture fees of £22,800 (2023: £nil) shown within additions to stock. At the year end, the company owed Sjolander da Cruz Architects Limited £285 (2023: £nil).

9.	ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent company is H2 Projekt AB.