Registration number: 13691184

Stinders Homes SPV 1 Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 5

Stinders Homes SPV 1 Limited

(Registration number: 13691184)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Current assets
Stocks	4	16,406,009	20,289,664
Debtors	5	39,577	67,163
Cash at bank and in hand		21,153	1,216
		16,466,739	20,358,043
Creditors: Amounts falling due within one year	6	(16,777,866)	(21,260,849)
Net liabilities		(311,127)	(902,806)
Capital and reserves
Called up share capital		1	1
Retained earnings		(311,128)	(902,807)
Shareholders' deficit		(311,127)	(902,806)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 September 2025 and signed on its behalf by:
 

......................................... Ms J E Ismail Director

Stinders Homes SPV 1 Limited

Notes to the Financial Statements for the Period from 1 January 2025 to 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 2 Block C
14 Hulme Street
Salford
Greater Manchester
M5 4ZG
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Disclosure of long or short period

These accounts are for the period 1 January 2025 to 31 March 2025 which is a short period. The reason for this change is so the company's period end falls in line with the ultimate parent. The prior period was a period of 9 months, therefore not directly comparable.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by the parent company. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

Audit report
The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 30 September 2025 was Mr Damian Wayne Riley FCCA, who signed for and on behalf of Alextra Audit Limited.

Stinders Homes SPV 1 Limited

Notes to the Financial Statements for the Period from 1 January 2025 to 31 March 2025

Judgements

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 revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2024 - 3).

Stinders Homes SPV 1 Limited

Notes to the Financial Statements for the Period from 1 January 2025 to 31 March 2025

4

Stocks

	2025 £	2024 £
Work in progress	16,406,009	20,289,664

5

Debtors

Current	2025 £	2024 £
Trade debtors	7,630	3,600
Prepayments	14,712	7,746
Other debtors	17,235	55,817
	39,577	67,163

6

Creditors

Creditors: amounts falling due within one year

		2025 £	2024 £
Due within one year
Trade creditors		58,927	47,469
Owed to group undertakings		15,017,738	19,658,430
Taxation and social security		48,345	41,604
Accruals and deferred income		1,650,356	1,506,897
Other creditors		2,500	6,449
		16,777,866	21,260,849

Included within Owed to group undertakings £15,017,738 (2024: £19,658,430) is in relation to a loan which is secured by fixed and floating charge dated 7 March 2022 over all the property or undertaking of the company and the property known as the land at Crossroads, Main Road, Quadring, Spalding, Lincolnshire.

Stinders Homes SPV 1 Limited

Notes to the Financial Statements for the Period from 1 January 2025 to 31 March 2025

7	Parent and ultimate parent undertaking

The company's immediate parent is Stinders Homes Limited, a company incorporated in England and Wales, company number 13691062, registered office Unit 2 Block C, 14 Hulme Street, Salford, Greater Manchester, England, M5 4ZG.

The ultimate parent company is Salboy Limited, incorporated in England and Wales, company number 09123542, registered office Unit 2 Block C, 14 Hulme Street, Salford, Greater Manchester, England, M5 4ZG.

These financial statements are consolidated within the group financial statements of Salboy Limited. Copies of the consolidated financial statements are available on request from Unit 2 Block C, 14 Hulme Street, Salford, Greater Manchester, England, M5 4ZG.

The shareholders of Salboy Limited are considered to be the controlling parties.

The company has taken advantage of the exemption from disclosure of intra group transactions in accordance with FRS102 paragraph 33.1A.