Company registration number 09058109 (England and Wales)
SEJ ASSETS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
SEJ ASSETS LIMITED
CONTENTS
Page
Balance sheet
2
Notes to the financial statements
3 - 9
SEJ ASSETS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2025
- 1 -
2025
2024
£
£
Profit for the year
4,015,934
2,743,597
Other comprehensive income
-
-
Total comprehensive income for the year
4,015,934
2,743,597
SEJ ASSETS LIMITED
BALANCE SHEET
AS AT
31 MAY 2025
31 May 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
4,658,889
4,699,956
Investments
5
4,900,589
4,900,593
9,559,478
9,600,549
Current assets
Debtors
6
1,345,026
4,354,229
Cash at bank and in hand
8,565,154
5,200,357
9,910,180
9,554,586
Creditors: amounts falling due within one year
7
(10,658,502)
(10,359,913)
Net current liabilities
(748,322)
(805,327)
Net assets
8,811,156
8,795,222
Capital and reserves
Called up share capital
4,900,002
4,900,002
Profit and loss reserves
3,911,154
3,895,220
Total equity
8,811,156
8,795,222

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 20 February 2026 and are signed on its behalf by:
Anish Kumar Aggarwal
Director
Company registration number 09058109 (England and Wales)
SEJ ASSETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 3 -
1
Accounting policies
Company information

SEJ Assets Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 5a Caxton Trading Estate, Printing House Lane, Hayes, Middlesex, UB3 1BE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value]. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

SEJ Assets Limited is a wholly owned subsidiary of SEJ Holdings Limited and the results of SEJ Assets Limited and its subsidiaries are included in the consolidated financial statements of SEJ Holdings which are available from 5 Caxton Trading Estate, Printing House Lane, Hayes, Middlesex, United Kingdom, UB3 1BE.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
50 years using the straight-line method
Plant and equipment
25% straight-line method
SEJ ASSETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 4 -

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.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

SEJ ASSETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 5 -
1.7
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 recognised in the company's balance sheet when the company becomes party to 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.

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.

Classification of financial liabilities

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.

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 paymen ts 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. A m ounts 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.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

SEJ ASSETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Judgements and key sources of estimation uncertainty

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

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
SEJ ASSETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 7 -
4
Tangible fixed assets
Land and buildings
Plant and equipment
Total
£
£
£
Cost
At 1 June 2024 and 31 May 2025
4,960,206
23,098
4,983,304
Depreciation and impairment
At 1 June 2024
270,667
12,681
283,348
Depreciation charged in the year
37,594
3,473
41,067
At 31 May 2025
308,261
16,154
324,415
Carrying amount
At 31 May 2025
4,651,945
6,944
4,658,889
At 31 May 2024
4,689,539
10,417
4,699,956
5
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
4,900,589
4,900,593
Movements in fixed asset investments
Shares in subsidiaries and associates
£
Cost or valuation
At 1 June 2024
4,900,593
Disposals
(4)
At 31 May 2025
4,900,589
Carrying amount
At 31 May 2025
4,900,589
At 31 May 2024
4,900,593
SEJ ASSETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 8 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1,069,561
4,109,587
Other debtors
275,465
244,642
1,345,026
4,354,229
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
864
137
Amounts owed to group undertakings
5,120,966
4,981,817
Corporation tax
176,413
18,459
Other taxation and social security
1,071
-
0
Other creditors
5,359,188
5,359,500
10,658,502
10,359,913
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 May 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Harsheel Dodhia
Statutory Auditor:
KLSA LLP
Date of audit report:
20 February 2026
9
Financial commitments, guarantees and contingent liabilities

The company's bank facility is secured by the bank's standard legal charge over freehold property and a debenture containing a fixed and floating charge over the assets of the company and it's subsidiary, SEJ Distribution Limited.

SEJ ASSETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 9 -
10
Related party transactions

During the year, the company entered in to the following transactions with related parties;

At the balance sheet date, the amount receivable from SEJ Pharmaceutical Limited, a subsidiary company, amounted to £449,277 (2024: £449,949) in interest-free loan repayable on demand. The company owed SEJ Pharmaceutical Limited £8,820 (202 4: £9,312) in trading transactions. Amounts totalling £25,312 (2024: £4,233) were invoiced to SEJ Pharmaceutical Limited in respect of goods and services provided.

As of the balance sheet date, the company owed £5,104,645 (202 4: £4,964,717) to SEJ Distribution Limited, a subsidiary company. This amount represents an interest-free loan repayable on demand. Additionally, the company owed £Nill (202 4: £780) to SEJ Distribution Limited arising from trading transactions. During the year, SEJ Distribution Ltd sold goods and services of £8,700 (202 4: £5,850) to SEJ Assets Limited and purchased goods and services of £532,576 (2024: £437,257) from SEJ Assets Limited.

At the balance sheet date, the amount due to SEJ Midlands L imite d, a subsidiary company, was £7,500 (202 4: £7,500). During the year, company received, in rent and other charges, £73,188 (202 4: £74,152) from SEJ Midlands L imite d.

The company owed Triplast L imited £4,680 (202 4: £Nil) in trading transactions. SEJ Assets Limited is a shareholder of Triplast Limited.

During the year, company received, in rent and other charges, £49,868 (202 4: £6,328) from Triplast L imite d.

The company received £Nil (202 4: £8,105) in interest from SEJ Fininvest Limited. SEJ Assets Limited and SEJ Fininvest Limited have common directors.

The company received £Nil (202 4: £1,205) in interest from SEJ Pension scheme. SEJ Assets Limited and SEJ Pension Scheme have common directors/trustees.

At balance sheet date, SEJ Estates Limited owed the company £5,350,321 (2024: £5,347,002) repayable on demand. The directors of SEJ Assets Limited are also the directors of SEJ Estates Limited.

At balance sheet date, SEJ Commercial Limited owed the company £206,799 (2024: £192,746) repayable on demand. The directors of SEJ Assets Limited are also the directors of SEJ Commercial Limited.

The company owed £Nil (202 4: £2,32 7) to the directors, Anish and Sejal Aggarwal.

11
Parent company

SEJ Holdings Limited owns 100% share capital of the company and is the ultimate parent company. The company is incorporated in England and Wales. SEJ Holdings Limited prepares group financial statements. Copies of the group financial statements of SEJ Holdings Limited are available at the registered office located at 5 Caxton Trading Estate, Printing House Lane, Hayes, Middlesex, United Kingdom, UB3 1BE.

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