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COMPANY REGISTRATION NUMBER: 10902246
Stanmore Property Developments Limited
Filleted Financial Statements
31 December 2024
Stanmore Property Developments Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Current assets
Stocks
3,404,740
1,222,762
Debtors
5
420,784
39,715
Cash at bank and in hand
4,278
5,315
------------
------------
3,829,802
1,267,792
Creditors: amounts falling due within one year
6
4,329,117
1,597,314
------------
------------
Net current liabilities
499,315
329,522
---------
---------
Total assets less current liabilities
( 499,315)
( 329,522)
---------
---------
Net liabilities
( 499,315)
( 329,522)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 499,415)
( 329,622)
---------
---------
Shareholders deficit
( 499,315)
( 329,522)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:
R Pankhania
S Ladwa
Director
Director
Company registration number: 10902246
Stanmore Property Developments Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 173 Cleveland Street, London, W1T 6QR. The trading address of the company is Stanmore House, 15-19 Church Road, Stanmore, Middlesex, HA7 4AR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors are confident that the company will be able to remain operational and this can be evidenced by examining the development appraisal which has been prepared by the development director in which a gross profit is expected to be achieved once the development is completed. Furthermore, the shareholders have confirmed that they will continue to provide financial support to the company, by deferment of amounts owed to or by other means, so as to allow the company to continue in operation as a going concern. In view of the above assurances, the directors are satisfied that the company will have sufficient resources to enable it to continue in existence for the foreseeable future and therefore that it is appropriate to prepare the financial statements on the going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Stocks
Stocks which comprises of a development property is valued at the lower of cost and estimated net realisable value. Stock includes principally the property cost, construction costs, project management costs and all associated costs incurred during the course of development. Net realisable value is the price at which the stock can be realised in the normal course of business, less further costs to completion of sale. Interest and loan arrangement fees payable to acquire and develop properties for resale is written off as incurred.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Debtors
2024
2023
£
£
Other debtors
420,784
39,715
---------
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
1,157,000
1,157,000
Trade creditors
785
38,778
Amounts owed to group undertakings and undertakings in which the company has a participating interest
2,990,200
341,700
Other creditors
181,132
59,836
------------
------------
4,329,117
1,597,314
------------
------------
The bank loan totalling £1,157,000 is secured by a debenture in the approved form granted by the company in favour of the bank, a first legal charge over the property, a rent charge agreement by the company, a charge over the cash deposits held with the bank by the company, a deed of subordination and a personal guarantee from the directors' , R Pankhania and A Pankhania in favour of the bank limited to £900,000. Subsequent to the year end, the bank loan has been fully repaid.
7. Summary audit opinion
The auditor's report dated 29 September 2025 was unqualified .
The senior statutory auditor was Shammir Shah , for and on behalf of Chamberlains UK LLP .
8. Related party transactions
As the company is a wholly owned subsidiary of Jaspar Holdings Limited, the company has taken advantage of the exemption afforded by FRS 102 not to disclose transactions or balances with other wholly owned members of the group.
9. Controlling party
The company is a wholly owned subsidiary of Jaspar Holdings Limited , a company registered in England and Wales, The registered office address of Jaspar Holdings Limited is 173 Cleveland Street, London, W1T 6QR and the principal place of business of Jaspar Holdings Limited is Stanmore House, 15-19 Church Road, Stanmore, Middlesex, HA7 4AR. These financial statements will be consolidated in the financial statements of Jaspar Holdings Limited , which is the only group in which the results of the company are consolidated.