REGISTERED NUMBER: 04903620 (England and Wales)

SEA PEBBLES (UK) LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Andreou

SECRETARY:

C Andreou

REGISTERED OFFICE:

2nd Floor, One Hobbs House,

Harrovian Business Village

Bessborough Road

Harrow

Middlesex

HA1 3EX

REGISTERED NUMBER:

04903620 (England and Wales)

ACCOUNTANTS:

KHI Albury Limited

2nd Floor, One Hobbs House,

Harrovian Business Village

Bessborough Road

Harrow

Middlesex

HA1 3EX

FIXED ASSETS

Investment property

4

10,906,771

10,894,579

CURRENT ASSETS

Debtors

5

290,331

317,303

Cash at bank and in hand

112,351

23,500

402,682

340,803

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

6

1,219,779

1,412,097

NET CURRENT LIABILITIES

(817,097

)

(1,071,294

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,089,674

9,823,285

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

7

(6,309,410

)

(6,319,806

)

PROVISIONS FOR LIABILITIES

(526,820

)

(526,820

)

NET ASSETS

3,253,444

2,976,659

CAPITAL AND RESERVES

Called up share capital

10

100

100

Revaluation reserve

11

2,245,918

2,245,918

Retained earnings

11

1,007,426

730,641

SHAREHOLDERS' FUNDS

3,253,444

2,976,659

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 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 December 2025 and were signed by:

S Andreou - Director

1.	STATUTORY INFORMATION

Sea Pebbles (UK) 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the properties are occupied.

Investment properties

Although the Companies Act require the systematic annual depreciation of fixed assets, the director believe the policy of not providing depreciation is necessary in order for the financial statements to give a true and fair view, since the current value of properties, and changes to that value, are of primary importance rather a calculation of systematic annual depreciation. Depreciation is only one of the many factors reflected in the annual valuation and the amount that might otherwise have been included cannot be separately identified or quantified.

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 2 (2024 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

10,894,579

Additions

12,192

At 31 March 2025

10,906,771

NET BOOK VALUE

At 31 March 2025

10,906,771

At 31 March 2024

10,894,579

Fair value at 31 March 2025 is represented by:

£

Valuation in 2023

8,121,841

Valuation in 2024

2,784,930

10,906,771

As part of the loan refinancing process, the investment properties were revalued to their fair value of £10,894,579 by Eddisons, Real Estate & Business Valuers. The Director considered the market values provided to be a true and fair reflection of the market value of individual properties. If the investment properties were included in the balance sheet on an historical cost basis, then the carrying amount would be £8,134,033 (2024: £8,121,841). The director is of the opinion that, given the static nature of the property market in recent times, the difference between the fair value and the fair value provided by professional valuers was not significant, therefore he has adopted the fair value.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by associates

289,831

316,803

Other debtors

500

500

290,331

317,303

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 8)

13,200

19,076

Amounts owed to associates

382,475

-

Taxation and social security

47,515

100

Other creditors

776,589

1,392,921

1,219,779

1,412,097

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 8)

6,309,410

6,319,806

8.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

2,803

8,936

Bank loans

10,397

10,140

13,200

19,076

Amounts falling due between one and two years:

Bank loans - 1-2 years

4,410

14,806

Amounts falling due between two and five years:

Bank loans - 2-5 years

6,305,000

6,305,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loan

6,305,000

6,305,000

Bank loan is secured by a way of negative pledge, fixed and floating charges over the investment properties to which the loan relates.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary Shares

£1

100

100

11.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 April 2024

730,641

2,245,918

2,976,559

Profit for the year

276,785

276,785

At 31 March 2025

1,007,426

2,245,918

3,253,344

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S Andreou.