REGISTERED NUMBER: 04347881 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Sheaf Bank Business Park Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

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.

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

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.

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 ) .

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

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

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.