REGISTERED NUMBER: 13182732 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

SF1 PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Stankovic

REGISTERED OFFICE:

Apartment 15

8 Whistler Square

Chelsea Barracks

London

SW1W 8BW

REGISTERED NUMBER:

13182732 (England and Wales)

ACCOUNTANTS:

B&P Tax Legal Finance LLP

38 Craven Street

London

WC2N 5NG

FIXED ASSETS

Tangible assets

4

90,111

105,913

Investment property

5

5,400,000

5,400,000

5,490,111

5,505,913

CURRENT ASSETS

Debtors

6

211,664

211,655

Cash at bank

4,044

528

215,708

212,183

CREDITORS

Amounts falling due within one year

7

(6,572,833

)

(6,180,187

)

NET CURRENT LIABILITIES

(6,357,125

)

(5,968,004

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(867,014

)

(462,091

)

CAPITAL AND RESERVES

Called up share capital

1,040,000

1,040,000

Retained earnings

8

(1,907,014

)

(1,502,091

)

(867,014

)

(462,091

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 7 November 2025 and were signed by:

M Stankovic - Director

1.	STATUTORY INFORMATION

Sf1 Properties 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 as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% on cost

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2024

147,550

Additions

7,387

At 28 February 2025

154,937

DEPRECIATION

At 1 March 2024

41,637

Charge for year

23,189

At 28 February 2025

64,826

NET BOOK VALUE

At 28 February 2025

90,111

At 29 February 2024

105,913

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2024

and 28 February 2025

5,400,000

NET BOOK VALUE

At 28 February 2025

5,400,000

At 29 February 2024

5,400,000

Fair value at 28 February 2025 is represented by:

£

Valuation in 2025

5,400,000

If investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

6,245,062

6,245,062

The investment property was valued on an open market basis on 28 November 2022 by Chesterton Professional Valuations .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

211,664

211,655

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

2,577,000

2,577,000

Trade creditors

2,900

1,860

Other creditors

3,992,933

3,601,327

6,572,833

6,180,187

8.

RESERVES

Retained

earnings

£

At 1 March 2024

(1,502,091

)

Deficit for the year

(404,923

)

At 28 February 2025

(1,907,014

)

9.	RELATED PARTY DISCLOSURES

At the year end, there was an outstanding loan balance with Sf1 Clips - Slovenia a related party company amounting to £1,108,704 (2024:£1,001,337). The applicable annual interest rates on the loans ranges from 0.50% to 6.30%.

At the year end, there was an outstanding loan balance with a Sf1 Clips - Croatia a related party company amounting to £1,947,754 (2024: £1,748,901). The applicable interest rates on the loan were 3.25% for the period from March to December 2024 and 4.38% for the months of January to February 2025.

At the year end, there was an outstanding loan balance with Punta - Croatia a related party company amounting to £676,133 (2024: £685,812). The applicable interest rate on the loan was 2.40% from March 2024 to February 2025.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M Stankovic.