Salluz Developments Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—3

Registered number: 11166130

		2025		2024
	Notes	£	£	£	£
CURRENT ASSETS
Stocks	4	711,685		684,307
Debtors	5	2,267		2,493
Cash at bank and in hand		1,376		4,262

		715,328		691,062
Creditors: Amounts Falling Due Within One Year	6	(21,660 )		(20,840 )

NET CURRENT ASSETS (LIABILITIES)			693,668		670,222

TOTAL ASSETS LESS CURRENT LIABILITIES			693,668		670,222

Creditors: Amounts Falling Due After More Than One Year	7		(747,114 )		(679,400 )

NET LIABILITIES			(53,446 )		(9,178 )

CAPITAL AND RESERVES
Called up share capital	8		10		10
Profit and Loss Account			(53,456 )		(9,188 )

SHAREHOLDERS' FUNDS			(53,446)		(9,178)

For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Eamon Stafford

Director

28th August 2025

The notes on pages 2 to 3 form part of these financial statements.

1. General Information

Salluz Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11166130 . The registered office is Marlowe Innovation Centre, Marlowe Way, Ramsgate, Kent, CT12 6FA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2. Going Concern Disclosure

The directors have considered the company’s financial position, current intentions, and available resources. The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt upon the company’s ability to continue as a going concern. Accordingly, the financial statements have been prepared on a going concern basis.

2.3. Turnover

(a) Development of residential and commercial properties

Sales of investment properties, land and property developments are recognised in respect of contracts exchanged during the year, provided that no material conditions remain outstanding at the balance sheet date and all conditions are fully satisfied by the date on which the financial statements are signed. Full provision is made for all known or expected losses on completing a development as soon as such losses are foreseen.

2.4. Stocks and Work in Progress

Land and property developments are recorded at the lower of cost and net realisable value. Cost includes direct construction costs and attributable overheads. Finance costs are expensed as incurred and are not capitalised within stock.

2.5. Taxation

Taxation represents the sum of current and deferred tax.

• Current tax is based on the taxable profit for the year, using tax rates that have been enacted or substantively enacted by the balance sheet date.

• Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, except as required by FRS 102. Deferred tax assets are recognised only to the extent that it is probable they will be recovered against future taxable profits.

• Finance costs, including interest on specific borrowings for development purposes, are recognised as an expense in the period in which they are incurred and are not capitalised within stock.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2024: 4)

4. Stocks

	2025	2024
	£	£
Work in progress	711,685	684,307

5. Debtors

	2025	2024
	£	£
Due within one year
Prepayments and accrued income	2,267	2,493

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Salluz Developments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Bank loans and overdrafts	20,770	20,060
Other creditors	890	780

	21,660	20,840

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	244,990	251,848
Other creditors	502,124	427,552

	747,114	679,400

Of the creditors falling due after more than one year the following amounts are due after more than five years.

	2025		2024
	£		£
Bank loans	151,624		175,494

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	10	10

9. Related Party Transactions

During the year the Company had transactions with Salluz Ltd, a related party by virtue of common ownership and common directorships.

At the balance sheet date the Company owed £502,124 (2024: £427,552) to Salluz Ltd. This balance represents borrowings advanced to the Company. The loan is interest-free, and no formal repayment terms have been agreed.

No guarantees have been given or received in respect of this loan. Other than the balances disclosed above, there were no related party transactions requiring disclosure in the year.

10. Controlling Party Not Known

The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.

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