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REGISTERED NUMBER: 04347881 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Sheaf Bank Business Park Limited

Sheaf Bank Business Park Limited (Registered number: 04347881)

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Sheaf Bank Business Park Limited

Company Information

for the Year Ended 31 March 2025

| DIRECTOR: | Mrs J M T Bennett

| SECRETARY: | Mr N M Bennett

| REGISTERED OFFICE: | Upper Hurst Farm

| Hathersage

| Hope Valley

| Derbyshire

| S32 1BQ

| REGISTERED NUMBER: | 04347881 (England and Wales)

| ACCOUNTANTS: | Crowther Chartered Accountants

| Abacus House

| Pennine Business Park

| Longbow Close

| Huddersfield

| West Yorkshire

| HD2 1GQ

Sheaf Bank Business Park Limited (Registered number: 04347881)

Balance Sheet

31 March 2025

31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £

FIXED ASSETS

Tangible assets | 4 | 25,336 |  | 25,441 |  |

Investment property | 5 | 1,750,000 |  | 1,750,000 |  |

1,775,336 |  | 1,775,441 |  |

CURRENT ASSETS

Debtors | 6 | 2,008,142 |  | 1,274,105 |  |

Cash at bank | 309,839 |  | 234,145 |  |

2,317,981 |  | 1,508,250 |  |

CREDITORS

Amounts falling due within one year | 7 | 1,413,060 |  | 496,287 |  |

NET CURRENT ASSETS | 904,921 |  | 1,011,963 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,680,257 |  | 2,787,404 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (813,461 | ) | (840,078 | ) |

PROVISIONS FOR LIABILITIES | (72,956 | ) | (74,521 | ) |

NET ASSETS | 1,793,840 |  | 1,872,805 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Non-distributable reserves | 706,156 |  | 706,156 |  |

Retained earnings | 1,087,584 |  | 1,166,549 |  |

SHAREHOLDERS' FUNDS | 1,793,840 |  | 1,872,805 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Sheaf Bank Business Park Limited (Registered number: 04347881)

Balance Sheet - continued

31 March 2025

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 October 2025 and were signed by:

Mrs J M T Bennett - Director

Sheaf Bank Business Park Limited (Registered number: 04347881)

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Sheaf Bank Business Park Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

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

| Tangible fixed assets

| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

| At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

| Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

| Fixtures and Fittings |  | 25% Reducing balance |  |

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Financial instruments

| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all of its financial instruments.

| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability.

| Basic financial assets

| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of future receipts discounted at a market rate of interest. Financial assets classified as receivable in one year are not amortised.

| Classification of financial liabilities

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Sheaf Bank Business Park Limited (Registered number: 04347881)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Basic financial liabilities

| Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement consitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 3 (2024 - 2 ) .

Sheaf Bank Business Park Limited (Registered number: 04347881)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

4. | TANGIBLE FIXED ASSETS

Fixtures |

and |

fittings |

| £

| COST

| At 1 April 2024 | 69,008 |  |

| Additions | 7,233 |  |

| Disposals | (1,049 | ) |

| At 31 March 2025 | 75,192 |  |

| DEPRECIATION

| At 1 April 2024 | 43,567 |  |

| Charge for year | 6,748 |  |

| Eliminated on disposal | (459 | ) |

| At 31 March 2025 | 49,856 |  |

| NET BOOK VALUE

| At 31 March 2025 | 25,336 |  |

| At 31 March 2024 | 25,441 |  |

5. | INVESTMENT PROPERTY

Total |

| £

| FAIR VALUE

| At 1 April 2024

| and 31 March 2025 | 1,750,000 |  |

| NET BOOK VALUE

| At 31 March 2025 | 1,750,000 |  |

| At 31 March 2024 | 1,750,000 |  |

| The fair value of the investment property has been arrived at based on a valuation carried out on 21 August 2021 by Bradley Hall Chartered Surveyors, who are not connected to the company. The valuation has been made on an open market basis by reference to market evidence of transaction prices for similar properties. The original cost of all properties was £977,221. The directors are satisfied with the valuation of investment property.

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

31.3.25 | 31.3.24 |

| £ | £

| Trade debtors | 676,836 |  | 52,372 |  |

| Amounts owed by group undertakings | 1,220,387 |  | 1,129,256 |  |

| Prepayments | 110,919 |  | 92,477 |  |

2,008,142 |  | 1,274,105 |  |

Sheaf Bank Business Park Limited (Registered number: 04347881)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

31.3.25 | 31.3.24 |

| £ | £

| Bank loans and overdrafts (see note 9) | 24,000 |  | 24,000 |  |

| Trade creditors | 62,617 |  | 76,474 |  |

| Amounts owed to group undertakings | 328,592 |  | 99,113 |  |

| Tax | 69,585 |  | 22,953 |  |

| Social security and other tax | 788 |  | 458 |  |

| Other creditors | 118,503 |  | 116,717 |  |

| Wages control | - |  | 68 |  |

| Accrued expenses | 808,975 |  | 156,504 |  |

1,413,060 |  | 496,287 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

31.3.25 | 31.3.24 |

| £ | £

| Bank loans (see note 9) | 813,461 |  | 840,078 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more 5 yr by instal | 717,461 |  | 744,078 |  |

9. | LOANS

| An analysis of the maturity of loans is given below:

31.3.25 | 31.3.24 |

| £ | £

| Amounts falling due within one year or on demand:

| Bank loans | 24,000 |  | 24,000 |  |

| Amounts falling due between one and two years:

| Bank loans - 1-2 years | 24,000 |  | 24,000 |  |

| Amounts falling due between two and five years:

| Bank loans - 2-5 years | 72,000 |  | 72,000 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more 5 yr by instal | 717,461 |  | 744,078 |  |

Sheaf Bank Business Park Limited (Registered number: 04347881)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

10. | SECURED DEBTS

| The following secured debts are included within creditors:

31.3.25 | 31.3.24 |

| £ | £

| Bank loans | 837,461 |  | 864,078 |  |

| The bank loan is secured by a fixed and floating charge over the assets of the company.

11. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. | ULTIMATE CONTROLLING PARTY

| The controlling party is Sheaf Property Ltd.

| The ultimate controlling party is Mrs J M T Bennett.