REGISTERED NUMBER: 14010618 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Sellick Property Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs S J Sellick

P C Sellick

REGISTERED OFFICE:

Folly Cottage Painswick Beacon

Painswick

Stroud

Gloucestershire

GL6 6TA

REGISTERED NUMBER:

14010618 (England and Wales)

ACCOUNTANTS:

HATS Gloucester Ltd

48 Hucclecote Road

Gloucester

Gloucestershire

GL3 3RS

BANKERS:

Lloyds Bank

19 Eastgate Street

Gloucester

GL1 1NU

FIXED ASSETS

Investment property

4

9,482,000

9,482,000

CURRENT ASSETS

Debtors

5

17,689

14,119

Cash at bank

414,375

508,906

432,064

523,025

CREDITORS

Amounts falling due within one year

6

9,213,000

9,597,602

NET CURRENT LIABILITIES

(8,780,936

)

(9,074,577

)

TOTAL ASSETS LESS CURRENT LIABILITIES

701,064

407,423

CAPITAL AND RESERVES

Called up share capital

5

5

Capital redemption reserve

8

400,000

150,000

Retained earnings

8

301,059

257,418

SHAREHOLDERS' FUNDS

701,064

407,423

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 4 September 2025 and were signed on its behalf by:

P C Sellick - Director

1.	STATUTORY INFORMATION

Sellick Property 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.

Turnover

Turnover represents rental income due for the accounting period from the investment properties.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Income Statement.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the statement of financial position.

All financial liabilities are initially measured at transaction price. Non-interest bearing debt instruments that are repayable at the request of the holder are subsequently measured at the undiscounted amount of the cash or consideration expected to be paid.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern

Despite net current liabilities of £8,780,936 at 31 March 2025 (2024 - £9,074,577), the financial statements have been prepared on a going concern basis. The directors have reviewed the future cash flows of the business and have expressed their willingness to financially support the company for the foreseeable future, deeming the going concern basis of preparation to be appropriate.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

Fair value

At 1 April 2024

and 31 March 2025

9,482,000

Net book value

At 31 March 2025

9,482,000

At 31 March 2024

9,482,000

The company purchased the investment properties during the period ended 31 March 2023 at a cost of £9,476,000 plus capitalised fees of £6,000. The directors have reviewed the local property market and have determined the fair value of the property at 31 March 2025 is not significantly different to these costs, so no fair value adjustment has been made in this period.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade debtors

4,829

1,728

Other debtors

12,860

12,391

17,689

14,119

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Taxation and social security

97,881

83,839

Other creditors

9,115,119

9,513,763

9,213,000

9,597,602

7.	FINANCIAL INSTRUMENTS

Other creditors include the following financial instruments:

Unsecured loan notes - £5,000,000 (2024 - £5,000,000)

On 4 July 2022, £5,000,000 of unsecured loan notes were created and issued to the directors P C Sellick (£2,500,000) and Mrs S J Sellick (£2,500,000). The loan notes bear no interest and are repayable at the request of the holders. Any outstanding loan notes will be repaid to the holders on the maturity date of the financial instrument being 4 July 2052. There were no loan note redemptions during the year.

Redeemable preference shares - £4,076,000 (2024 - £4,326,000)

On 4 July 2022, 4,476,000 of £1 redeemable preference shares were issued to the directors P C Sellick (£2,238,000) and Mrs S J Sellick (£2,238,000). The shares have no dividend or voting rights and are redeemable at the request of the holders. Any unredeemed preference shares will become redeemable on the thirtieth anniversary of the date of issue being 4 July 2052. During the year the directors redeemed 250,000 £1 redeemable preference shares.

8.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 April 2024

257,418

150,000

407,418

Profit for the year

293,641

293,641

Preference share redemption

(250,000

)

250,000

-

At 31 March 2025

301,059

400,000

701,059

9.	RELATED PARTY DISCLOSURES

P C Sellick & Mrs S J Sellick

Directors

On 4 July 2022, investment properties were transferred from Sellick Property Partnership LLP to the company at their market value of £9,476,000.

Consideration for the transfer of the investment property business was £9,476,000, satisfied by the issue of 4,476,000 £1 redeemable preference shares and £5,000,000 of loan notes to the LLP designated members, P C Sellick and Mrs S J Sellick.

At 31 March 2025, the outstanding loan notes remained at £5,000,000 and the balance of redeemable preference shares was £4,076,000 (2024 - £4,326,000).

The loan notes are interest free and the redeemable preference shares have no dividend or voting rights. Redemption of these financial instruments is at the request of the holders.

A directors current account loan is in place in addition to the above. At 31 March 2025, the company owed the directors £25,953 (2024 - £179,559). This balance is interest free and has no fixed repayment terms.