Registration number: 11950644

St Albans Residential Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

St Albans Residential Limited

Company Information

Directors

H Piric D Zecevic

Registered office

Suite A4, Skylon Court Coldnose Road Rotherwas Hereford HR2 6JS

Accountants

Boon and Worth Limited Suite A4, Skylon Court Coldnose Road Rotherwas Hereford HR2 6JS

St Albans Residential Limited

(Registration number: 11950644)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	1,230	1,622
Investment property	5	1,060,360	1,060,360
		1,061,590	1,061,982
Current assets
Cash at bank and in hand		12,804	17,333
Creditors: Amounts falling due within one year	6	(211,416)	(233,418)
Net current liabilities		(198,612)	(216,085)
Total assets less current liabilities		862,978	845,897
Creditors: Amounts falling due after more than one year	6	(799,640)	(799,640)
Net assets		63,338	46,257
Capital and reserves
Called up share capital	7	3	3
Retained earnings		63,335	46,254
Shareholders' funds		63,338	46,257

St Albans Residential Limited

(Registration number: 11950644)
Balance Sheet as at 31 December 2024

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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 26 August 2025 and signed on its behalf by:
 

......................................... H Piric Director

......................................... D Zecevic Director

St Albans Residential Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS
England

These financial statements were authorised for issue by the Board on 26 August 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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 specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 in the countries where the company operates and generates taxable income.

St Albans Residential Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixture and fittings	20% Reducing Balance Method
Office Equipment	33% Reducing Balance Method

Investment property

Investment property is carried at fair value, 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 account 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

St Albans Residential Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4	Tangible assets

	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
At 1 January 2024	2,294	-	2,294
Additions	-	719	719
At 31 December 2024	2,294	719	3,013
Depreciation
At 1 January 2024	1,193	198	1,391
Charge for the year	220	172	392
At 31 December 2024	1,413	370	1,783
Carrying amount
At 31 December 2024	881	349	1,230
At 31 December 2023	1,101	521	1,622

5	Investment properties

	2024 £
At 1 January	1,060,360
At 31 December	1,060,360

There has been no valuation of investment property by an independent valuer.

St Albans Residential Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Taxation and social security	4,598	5,287
Accruals and deferred income	3,859	3,859
Other creditors	202,959	224,272
	211,416	233,418

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	8	799,640	799,640

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary Share of £1 each	3	3	3	3

8	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	394,090	394,090
Other borrowings	405,550	405,550
	799,640	799,640

St Albans Residential Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9	Related party transactions

Transactions with directors

2024	At 1 January 2024 £	Advances to director £	Repayments by director £	At 31 December 2024 £
H Piric
Director's loan account	(566)	26,000	(28,429)	(2,995)
D Zecevic
Director's loan account	(233)	-	(211)	(444)

2023	At 1 January 2023 £	Repayments by director £	At 31 December 2023 £
H Piric
Director's loan account	(467)	(99)	(566)
D Zecevic
Director's loan account	(233)	-	(233)

Summary of transactions with other related parties

St Albans Development Ltd

At the balance sheet date the amount due to St Albans Development Ltd was £193,886 (2023 - £218,152.20). H Piric and D Zecevic are the directors of this company.