REGISTERED NUMBER: 12830826 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SOWERBY ELTHAM LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr D Hanif

Mr F Ahmad

Mr K Bal

REGISTERED OFFICE:

C/O Zedwell Hotel

Great Windmill Street

London Trocadero

London

W1D 7DH

REGISTERED NUMBER:

12830826 (England and Wales)

AUDITORS:

Xeinadin Audit Limited Chartered Accountants

Statutory Auditor

8th Floor, Becket House

36 Old Jewry

London

EC2R 8DD

FIXED ASSETS

Investment property

4

2,275,517

2,275,517

CURRENT ASSETS

Debtors

6,438

5,958

Cash at bank

298

695

6,736

6,653

CREDITORS

Amounts falling due within one year

2,977,594

2,974,763

NET CURRENT LIABILITIES

(2,970,858

)

(2,968,110

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(695,341

)

(692,593

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(695,441

)

(692,693

)

(695,341

)

(692,593

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 December 2025 and were signed on its behalf by:

Mr K Bal - Director

1.	STATUTORY INFORMATION

Sowerby Eltham 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The directors have assessed whether the use of the going concern assumption is appropriate in preparing these accounts.

The directors have made this assessment in respect to a period of one year from the date of approval of these accounts. The directors have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors are of the opinion that the company will have sufficient resources to meet its liabilities as they fall due as the immediate and ultimate parent company, Continuation Holdings Limited and Act Finance Limited, which provide finance to the subsidiaries of Continuation Holdings Limited, have indicated their willingness in writing to provide the necessary support to enable the company to meet its liabilities as they fall due for a period of at least 12 months from the date of signature of these financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

Preparation of the financial statements requires the members and management to make significant judgements and estimates.

The items in the financial statements where these judgements and estimates have been made include:

- estimating the required provision for bad debts; and

- fair value of investment properties.

Investment property

Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Financial instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial instruments.

Financial instruments are classified and accounted for according to the substance of the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Short term debtors and creditors

Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

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

2,275,517

NET BOOK VALUE

At 31 March 2025

2,275,517

At 31 March 2024

2,275,517

The investment property, being freehold residential property, is being redeveloped. The directors, with the assistance of Criterion Capital Limited, the company's asset managers, have concluded that the value of the property has not changed significantly during the year. The investment property is located within the United Kingdom.

5.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Thurairatnam Sudarshan FCCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited Chartered Accountants

6.	RELATED PARTY DISCLOSURES

At the balance sheet date, company owed £8,046 to companies considered related party by virtue of being under common control.

7.	ULTIMATE CONTROLLING PARTY

Continuation Holdings Ltd, a company incorporated in the Isle of Man, is the immediate and ultimate parent company. Continuation Holdings Limited's registered office is 3rd Floor, 10 Finch Road, Douglas, IM1 2PT, Isle of Man.

The ultimate controlling party is deemed to be the Trustees of The Aziz Continuation Purpose Trust (formerly known as The Aziz Continuation Star Trust) which is based in the Isle of Man.