Company No: 03045270 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	HJT Guest
	AM Jones
	PCT Ricks

REGISTERED OFFICE	Aldgate Tower
	2 Leman Street
	London
	E1W 9US
	United Kingdom

COMPANY NUMBER

03045270 (England and Wales)

ACCOUNTANT	Gravita Business Services II Limited
	Aldgate Tower
	2 Leman Street
	London
	E1 8FA
	United Kingdom

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	925,391		925,391
		925,391		925,391
Current assets
Debtors	4	7,814		7,365
Cash at bank and in hand		16,706		32,432
		24,520		39,797
Creditors: amounts falling due within one year	5	( 404,833)		( 422,728)
Net current liabilities		(380,313)		(382,931)
Total assets less current liabilities		545,078		542,460
Net assets		545,078		542,460
Capital and reserves
Called-up share capital		2		2
Profit and loss account		545,076		542,458
Total shareholders' funds		545,078		542,460

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Springbreak Limited (registered number: 03045270) were approved and authorised for issue by the Board of Directors on 29 December 2025. They were signed on its behalf by:

HJT Guest Director

AM Jones Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Springbreak Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Aldgate Tower, 2 Leman Street, London, E1W 9US, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is derived from rental income received from leasehold properties leased out under operating leases recognised in the profit and loss account on a straight-line basis over the term of the lease net of VAT. Lease incentives granted are recognised as an integral part of total rental income.

Rental income is accounted for on an accruals basis.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings

not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Land and buildings are held at cost rather than fair value in contravention with FRS102 standard accounting practice. Profit on disposal of land and buildings is recognised as a transfer to capital reserves rather than revenue in contravention with FRS102 standard accounting practice.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Tangible assets

	Land and buildings		Total
	£		£
Cost
At 01 April 2024	925,391		925,391
At 31 March 2025	925,391		925,391
Accumulated depreciation
At 01 April 2024	0		0
At 31 March 2025	0		0
Net book value
At 31 March 2025	925,391		925,391
At 31 March 2024	925,391		925,391

4. Debtors

	2025		2024
	£		£
Trade debtors	6,876		5,737
Other debtors	938		1,628
	7,814		7,365

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	2,727		2,727
Amounts owed to Group undertakings	400,606		400,606
Other taxation and social security	0		17,895
Other creditors	1,500		1,500
	404,833		422,728

6. Related party transactions

Other related party transactions

At the year end, the Company owed £400,606 (2024: £400,606) to Criterion Estates Limited, the parent company, in respect of an interest free loan, which is repayable on demand.

7. Ultimate controlling party

The ultimate controlling company is Criterion Estates Limited, a company registered in England.