Stonegate Homes (Westbrook Mills 2) Limited

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

Registered number: 14345029

		28 February 2025		28 February 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		19,625,806		23,400,000

			19,625,806		23,400,000
CURRENT ASSETS
Debtors	5	41,332		36,329
Cash at bank and in hand		100		100

		41,432		36,429
Creditors: Amounts Falling Due Within One Year	6	(24,930,905 )		(25,851,863 )

NET CURRENT ASSETS (LIABILITIES)			(24,889,473 )		(25,815,434 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(5,263,667 )		(2,415,434 )

NET LIABILITIES			(5,263,667 )		(2,415,434 )

CAPITAL AND RESERVES
Called up share capital	7		100		100
Profit and Loss Account			(5,263,767 )		(2,415,534 )

SHAREHOLDERS' FUNDS			(5,263,667)		(2,415,434)

For the year ending 28 February 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 Jatin Ondhia

Director

23/10/2025

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

1. General Information

Stonegate Homes (Westbrook Mills 2) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14345029 . The registered office is C/o Leaman Mattei Suite 1, First Floor, 1 Duchess Street, London, W1W 6AN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

Whilst the Balance Sheet is overdrawn at the period end by £5,263,667 (2024: £2,415,434.)

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Investment Properties
	£
Cost
As at 29 February 2024	23,400,000
Disposals	(3,774,194 )

As at 28 February 2025	19,625,806

Net Book Value
As at 28 February 2025	19,625,806

As at 29 February 2024	23,400,000

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Stonegate Homes (Westbrook Mills 2) Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

5. Debtors

	28 February 2025	28 February 2024
	£	£
Due within one year
Other debtors	41,332	36,329

6. Creditors: Amounts Falling Due Within One Year

	28 February 2025	28 February 2024
	£	£
Trade creditors	(1 )	(1 )
Senior Loan GRE ASK Lendco Ltd	13,840,423	16,932,954
Mezzanine Loan Shojin Westbrook Mills Ltd	7,871,588	6,193,489
Accruals and deferred income	-	12,500
Amounts owed to group undertakings	331,439	75,465
Amounts owed to parent undertaking	2,887,456	2,637,456

	24,930,905	25,851,863

The loans due to GRE ASK Lendco Ltd and Shojin Westbrook Mills Ltd are secured by charges over the property held by the company.

7. Share Capital

	28 February 2025	28 February 2024
	£	£
Allotted, Called up and fully paid	100	100

8. Post Balance Sheet Events

One of the companys lenders, Shojin Westbrrok Mills Ltd, acquired all the shares of the company by September 2025.

9. Related Party Transactions

The company owes £2,887,456 (2024: £2,637,456) to it's parent company, Stonegate Homes (Cricklewood) Limited.

It also owed its fellow subsidiary, Stonegate Homes (Westbrook Mills 1) Limited, £255,974, and an associated company, Stonegate Land & Estates Ltd, 75,465.

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