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Registered number: 09816366 SENTPARK DEVELOPMENTS LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 JANUARY 2025
SENTPARK DEVELOPMENTS LIMITED REGISTERED NUMBER: 09816366 BALANCE SHEET AS AT 31 JANUARY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 11,079 |  | 10,515
Investments | 6 |  | 1,294,918 |  | 1,561,404
Investment property | 7 |  | 145,001 |  | 145,001
|  |  | 1,450,998 |  | 1,716,920
Current assets |  |  |  |  |
Debtors | 8 | 148,987 |  | 237,497 |
Cash at bank and in hand |  | 68,039 |  | 126,662 |
|  | 217,026 |  | 364,159 |
Creditors: amounts falling due within one year | 9 | (1,511,105) |  | (1,905,162) |
Net current liabilities |  |  | (1,294,079) |  | (1,541,003)
Total assets less current liabilities |  |  | 156,919 |  | 175,917
Provisions for liabilities |  |  |  |  |
Deferred tax | 10 | (6,227) |  | (8,879) |
|  |  | (6,227) |  | (8,879)
Net assets |  |  | 150,692 |  | 167,038
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1 |  | 1
Profit and loss account | 11 |  | 150,691 |  | 167,037
|  |  | 150,692 |  | 167,038
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SENTPARK DEVELOPMENTS LIMITED REGISTERED NUMBER: 09816366 BALANCE SHEET (CONTINUED) AS AT 31 JANUARY 2025 The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Darren Andrew Gayer
Director
Date: 9 October 2025
The notes on pages 3 to 11 form part of these financial statements. Page 2
SENTPARK DEVELOPMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
1. | General information
Sentpark Developments Limited ('the Company') is a private company limited by share capital, incorporated under the UK Companies Act 2006 and domiciled in England. The address of the Company's registered office is Sheldon House, 904/910 High Road, London, N12 9RW. 2.Accounting policies
| 2.1 | 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 reporting periods presented, unless otherwise stated.
| 2.2 | Basis of preparation of financial statements
The financial statements of the Company have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland, and the UK Companies Act 2006. The preparation of financial statements in conformity with Financial Reporting Standard 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Company's accounting policies. Details of those estimates and/or judgments made in applying the Company's accounting policies towards the preparation of these financial statements that may be considered as yielding a significant risk of a material adjustment being made to the carrying amounts of assets and/or liabilities reported in the balance sheet during the next financial reporting period are disclosed in note 3 to the financial statements.
| 2.3 | Functional and presentational currency
Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the "functional currency"). The functional currency of the Company, and the currency in which the financial statements are presented (the "presentational currency"), is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.
| 2.4 | Going concern
In assessing whether the going concern basis remains appropriate for the preparation of the financial statements, the director has reviewed the Company’s principal and emerging risks, access to funding and liquidity position and the Company's performance up to the date these financial statements were approved and expected performance over the 18 months following the balance sheet date. Based on his assessment, the director is of the conclusion that the Company will have, available at its disposal, adequate resources to continue in operational existence for the foreseeable future. Page 3
SENTPARK DEVELOPMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 2.Accounting policies (continued)
| 2.4 | Going concern (continued)
While there will always remain an inherent uncertainty, as is the case for all companies, the director has no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the Company to continue as a going concern and therefore considers it both appropriate to continue to adopt the going concern basis in preparing the Company's financial statements and to not recognise any adjustments in the financial statements that would arise if the going concern basis were to become no longer appropriate.
| 2.5 | Revenue
Revenue represents amounts receivable, measured at fair value exclusive of value added taxation, during the reporting period from the rental of properties and other income directly attributable to the Company's principal activity. Rental income is recognised in accordance with the terms of the underlying rental arrangement on a straight line basis. Other income is recognised as and when the Company raises an invoice in respect of amounts due with amounts accrued and/or deferred in accordance with the terms of the underlying contract.
| 2.6 | Pensions
The Company operates a defined contribution pension plan for its employees. A defined contribution pension plan is one under which the Company pays fixed contributions to a separate entity. Once the contributions have been paid the Company has no further payment obligations. Contributions payable are recognised as an expense in profit or loss for the reporting period when they fall due. Amounts falling due but not paid are included within other creditors in the balance sheet. The assets of the respective pension plans are held separately from the Company in independently administered funds.
| 2.7 | Taxation
Taxation comprises of income and/or corporate taxation ("current taxation") and deferred taxation recognised solely in profit or loss. Current taxation is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date where taxable income is generated by the Company through its business operations. Deferred taxation is recognised on temporary differences arising between the tax bases of assets and liabilities and their respective carrying amounts in the financial statements. Deferred taxation is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date expected to apply when the related deferred tax asset/liability is realised/settled. Deferred tax assets are recognised only to the extent that it is sufficiently probable that future taxable profits will be available against which the temporary differences can be utilised. Page 4
SENTPARK DEVELOPMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 2.Accounting policies (continued)
| 2.8 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Computer and office equipment | - | 33% | per annum
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.9 | Investment property
Investment property comprises of property held by the Company to earn income or for capital appreciation, or both. Investment property is initially recognised at purchase cost plus directly attributable acquisition expenses and subsequently measured at fair value. Investment properties are not depreciated. Gains and losses arising from changes in fair value are recognised in profit or loss during the period in which they arise. Purchases and sales of investment property are recognised when contracts have been unconditionally exchanged and the significant risks and rewards of ownership have been transferred. An investment property is derecognised for accounting purposes upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying value) is recognised in profit or loss in the period the asset is derecognised.
| 2.10 | Fixed asset investments
Loans to joint ventures, which are a form of financial instrument, are initially measured at transaction price (i.e fair value) and subsequently held at transaction price less provision for impairment of assets. Page 5
SENTPARK DEVELOPMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 2.Accounting policies (continued)
| 2.11 | Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities; with said financial assets and liabilities classified in accordance with the substance of the underlying contractual obligations rather than its legal form. Financial assets and liabilities are recognised upon becoming party to the contractual provisions of the instrument. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or the financial asset is transferred along with substantially all the risks and rewards of ownership of the asset to another party. Financial liabilities are derecognised only when the underlying obligations are discharged, cancelled or expired. The measurement of specific financial assets, financial liabilities and equity held by the Company is as outlined in notes 2.12 to 2.15 of the financial statements.
| 2.12 | Debtors
Debtors, excluding deferred taxation (see note 2.12), are initially measured at transaction price (i.e fair value) and subsequently held, at transaction price less provision for impairment of assets.
| 2.13 | Cash and cash equivalents
Cash and cash equivalents are classified by the Company as financial instruments being held at fair value through profit and loss. Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. The Company held no such cash equivalents during either the current or preceding financial reporting periods.
| 2.14 | Creditors
Creditors are initially measured and subsequently held at transaction price (i.e fair value).
| 2.15 | Equity
Ordinary share capital, shown in equity, is initially measured and subsequently held at its nominal value. Where the transaction price for issued shares exceeds their nominal value, the difference is shown under equity in a share premium account with any directly attributable transaction costs associated with the issuing of said shares deducted from said share premium account. Page 6
SENTPARK DEVELOPMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
In the application of the Company's accounting policies, the director is required to apply judgment and make estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other available sources based on historical experience and other factors that are considered to be relevant. Consequently, actual results may differ from that originally estimated. The judgments, estimates and assumptions that are considered to have a significant risk of causing a material adjustment to the carrying amounts of assets and/or liabilities within the next financial period are addressed below: Investment properties The fair value of investment properties is determined annually by the director on an open market value basis by reference to specific advice from third party experts and available market evidence. From time to time, the director may employ independent professional valuers to determine the fair value on his behalf. In determining the fair value, the application, and therefore significant judgment, of unobservable inputs as well as a number of estimates and assumptions is required. Key estimates and assumptions considered on valuation of investment property include market evidence on comparable transactions for similar properties, current market and investor expectations, occupancy rates, rental yields, the nature, location, condition and permissible uses of the specific investment property and consideration of hypothetical sellers and buyers, who are reasonably informed and motivated, but not compelled, to transact on an arm’s length basis. Recoverable value of loans to joint ventures and debtors When assessing the recoverable value of loans to joint ventures and debtors, the director considers both externally available and internal sources of information such as historic and expected market activity, ageing profile, historical experience and, in the case of amounts owed by joint ventures and connected parties, the forecasted financial performance and expected cash flows of the joint venture/connected party.
4. | Employees
| The average monthly number of employees, including directors, during the year was 5 (2024 - 5).
Page 7
SENTPARK DEVELOPMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
5. | Tangible fixed assets
|  | Computer equipment
|  | £
| Cost |
| At 1 February 2024 | 11,676
| Additions | 5,846
| At 31 January 2025 | 17,522
| Depreciation |
| At 1 February 2024 | 1,161
| Charge for the year | 5,282
| At 31 January 2025 | 6,443
| Net book value |
| At 31 January 2025 | 11,079
| At 31 January 2024 | 10,515
6. | Fixed asset investments
|  | Loans to joint ventures
|  | £
| Cost |
| At 1 February 2024 | 1,561,404
| Repayments | (358,048)
| Interest receivable | 91,562
| At 31 January 2025 | 1,294,918
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SENTPARK DEVELOPMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
7. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 1 February 2024 | 145,001
| At 31 January 2025 | 145,001
The 2025 valuations were made by the director, on an open market value for existing use basis.
8. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Falling due within one year |  |
| Trade debtors | 1,531 | 1,531
| Amounts owed by group undertakings | - | 703
| Other debtors | 104,444 | 192,651
| Prepayments and accrued income | 3,775 | 3,375
| Tax recoverable | 39,237 | 39,237
|  | 148,987 | 237,497
| Amounts owed by group undertakings are unsecured, interest-free and repayable on demand with no fixed date of repayment. Debtors falling due within one year are, in the opinion of the director, of a fair value not materially different to their carrying value. At the balance sheet date, the provision for impairment against debtors falling due within one year was £nil (2024: £nil)
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SENTPARK DEVELOPMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 10,244 | 31,395
| Amounts owed to group undertakings | 1,450,770 | 1,820,486
| Corporation tax | - | 7,018
| Other taxation and social security | 487 | 521
| Other creditors | 5,450 | 4,588
| Accruals and deferred income | 44,154 | 41,154
|  | 1,511,105 | 1,905,162
| Amounts owed to group undertakings are unsecured, expect for those amounts noted below, interest-free and repayable on demand with no fixed date of repayment. Amounts owed to group undertakings of £1,450,770 (2023: £1,820,486) are secured by way of a fixed and floating charge over all present and future assets of the Company.
10. | Deferred taxation
|  | 2025
|  | £
| At beginning of year (as restated) | (8,879)
| Charged to profit or loss | 2,652
| At end of year | (6,227)
| The net deferred taxation asset/(liability) carried forward is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (2,770) | (2,629)
| Tax losses carried forward | 2,793 | -
| Investment property revaluations | (6,250) | (6,250)
|  | (6,227) | (8,879)
| In the opinion of the director, deferred tax liabilities of £1,000 are expected to reverse in the following financial reporting period.
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SENTPARK DEVELOPMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
11. | Reserves
Profit and loss account The profit and loss account of £150,691 (2024: £167,037) includes all current and prior period retained profits and (losses), inclusive of undistributable amounts totalling £18,750 (2024: £18,750) in respect of fair value re-valuation of investment properties net of deferred taxation, less amounts distributed to the Company's equity shareholders.
12. | Pension commitments
Employee and employer contributions totalling £nil (2024: £nil) were payable by the Company and its group at the balance sheet date and are included in creditors falling due within one year.
13. | Related party transactions
| Wholly-owned group undertakings The Company has taken advantage of exemptions provided by Section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions undertaken or balances carried forward as at the balance sheet date between the Company and its fellow wholly-owned group undertakings. Other related parties At the balance sheet date, companies under common control owed the Company £5,703 (2024: £83,901) in respect of non-interest bearing amounts, which are repayable on demand and have no fixed date of repayment,
14. | Controlling party
The immediate parent undertaking is Sentpark Capital Limited, a company incorporated under the UK Companies Act 2016 and whose registered office is located at Sheldon House, 904/910 High Road, London, N12 9RW. Sentpark Capital Limited is the parent undertaking of the smallest group to consolidate these financial statements. Copies of consolidated group financial statements for Sentpark Capital Limited are not publicly available on the grounds of exemption available under the Companies Act 2006 for small groups and companies.
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