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Registration number: 13674730

South Canterbury Development Corporation Limited Unaudited Financial Statements for the Year Ended 31 January 2025
Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

South Canterbury Development Corporation Limited

Contents

Company Information | 1
Statement of Financial Position | 2
Notes to the Unaudited Financial Statements | 3 to 4

South Canterbury Development Corporation Limited

Company Information

Directors | B M Gummer T Leathes A Billings T Billings

Registered office | 130 Shaftesbury Avenue 2nd Floor London W1D 5EU

Accountants | Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

South Canterbury Development Corporation Limited

Statement of Financial Position as at 31 January 2025

| Note | 2025 £ | 2024 £
Current assets |  |  |
Stocks | 4 | 2,680,752 | 1,470,040
Debtors | 5 | 30,188 | 115,971
Cash at bank and in hand |  | 141,247 | 1,408
|  | 2,852,187 | 1,587,419
Creditors: Amounts falling due within one year | 6 | (3,131,116) | (1,708,154)
Net liabilities |  | (278,929) | (120,735)
Capital and reserves |  |  |
Called up share capital |  | 1 | 1
Retained earnings |  | (278,930) | (120,736)
Shareholders' deficit |  | (278,929) | (120,735)

For the financial 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.

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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of South Canterbury Development Corporation Limited have elected not to include a copy of the profit and loss account within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Approved and authorised by the Board on 8 October 2025 and signed on its behalf by:

.........................................

B M Gummer

Director

Company registration number: 13674730

South Canterbury Development Corporation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of real estate development.

2 | Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a loss for the period ended 31 January 2025 and had net liabilities at that date amounting to £278,929. At 31 January 2025 an amount of £2,735,440 was owed to related parties who have agreed not to call for repayment until such time as the company has adequate working capital.
Based on the company’s business plan and the ongoing support of its lenders, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, rebates and discounts.
The company recognises revenue from developments based upon the stage of contractual completion.

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.

South Canterbury Development Corporation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of work in progress comprises direct materials, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

3 | Staff numbers

The average number of persons employed by the company during the year, was 0 (2024 - 0).

4 | Stocks

| 2025 £ | 2024 £
Stock | 2,680,752 | 1,470,040

5 | Debtors

| 2025 £ | 2024 £
Other debtors | 30,188 | 115,971
| 30,188 | 115,971

6 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Trade creditors | 343,789 | 345,496
Amounts owed to group undertakings | 172,778 | 97,158
Other creditors | 2,614,549 | 1,265,500
| 3,131,116 | 1,708,154