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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Allied London Fire Station Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O Allied London, Suite 1, Bonded Warehouse, 18 Lower Byrom Street, Manchester, M3 4AP.

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 £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The directors have assessed the financial performance and note that as at 31 December 2024 the company had net liabilities of £100 (2023 net assets: £82,983). £Nil (2023: £26,738,431) of the short-term creditors are owed to group companies and companies who have common directors. These balances are not deemed significantly likely to be called in and the parties have confirmed that such loans will not be called such that it will not enable the company to settle its obligations as they fall due for a period of at least 12-months from the signing date of these financial statements.

Management has undertaken a thorough going concern review which has included forecasts from 12 months from signing date of the financial statements to ensure the company will continue to be able to meet its liabilities for the next year from the signing date of the accounts. The forecasts included some sensitivity on the development cost recharges obtained. Turnover of £7,741,002 (2023: £7,213,777) represents development cost recharges made to Allied London Fire Station Opco Limited. 

Parent company, Allied London Fire Station Holdco One Limited, is party to a loan facility amounting to £37.1m (2023: £37.1m), excluding interest, of which £37.1m plus an additional £6.6m allocated to an uncommitted tranche as a result of under budgeted costs (2023: £37.0m) has been drawn down at the year-end. The loan was refinanced in June 2022 and continues to be provided on a rolling basis and is repayable on demand. The lender holds a legal charge over Allied London Fire Station Developments Limited. 

Following the refinancing in June 2022, the directors of Allied London Fire Station Holdco One Limited are confident that Allied London Fire Station Holdco One Limited has adequate resources to continue in operational existence for at least 12 months from the date of approval of those financial statements. For these reasons, the directors of Allied London Fire Station Developments Limited continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Nevertheless, as the loan remains repayable on demand, the company’s assets could be called on under the legal charge of the lender if the current facility is called on for repayment. Therefore, these conditions indicate the existence of a material uncertainty which may cast significant doubt about the company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the company was unable to continue as a going concern.

Turnover is recognised at the fair value of the invoiced development costs recharged in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 simultaneously.

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 the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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, 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 constitutes a financing transaction, where the debt instrument is measured at the present value of the 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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Audit fees were borne by another group company, Allied London Fire Station Opco Limited.

The average monthly number of persons (including directors) employed by the company during the year was:

The company had no employees during the period other than the directors, who received no remuneration.

Amounts due from group undertakings are unsecured, repayable on demand and not interest bearing.

Amounts due to group undertakings are unsecured, repayable on demand and not interest bearing.

Called up share capital represents the nominal value of shares issued. All shares carry no fixed right to income and rank pari-passu in every respect.

The profit and loss account represents cumulative profits and losses, net of any dividends paid and other adjustments.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Material uncertainty relating to going concern

We draw attention to note 1.2 of the financial statements, which states the wider group's debt facilities are on a rolling basis, repayable on demand and are required to be refinanced. As stated in note 1.2, the lenders of these facilities holds a charge over the company and these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

During the year the company entered into the following transactions with related parties:

The company has taken advantage of the exemption allowed by Financial Reporting Standard 102, "Related party disclosures" Section 33.1A not to disclose details of related party transactions with entities that are 100% owned members of the same group. There are no other related party transactions other than as disclosed.

The company's immediate parent company is Allied London Fire Station OPCO Limited, a company registered in England & Wales.

The directors consider the ultimate parent company to be Allied London Firestation Holding Company Limited, a company registered in England & Wales with the registered office at C/O Allied London, Suite 1, Bonded Warehouse, 18 Lower Byrom Street, Manchester, Greater Manchester, M3 4AP.

Ultimate controlling party

The directors consider the ultimate controlling party to be M Ingall, who is also a director of the company.