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Registered number: 10208174 ARTICHOKE HOMES LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MAY 2025
ARTICHOKE HOMES LIMITED REGISTERED NUMBER: 10208174 BALANCE SHEET AS AT 31 MAY 2025
| 2025 | 2025 | 2024 | 2024
Note | £ | £ | £ | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 415,550 |  | 81,857
|  |  | 415,550 |  | 81,857
Current assets |  |  |  |  |
Stocks | 5 | 7,866,446 |  | 7,004,611 |
Debtors: amounts falling due within one year | 6 | 23,391 |  | 18,697 |
Cash at bank and in hand | 7 | 1,762,956 |  | 2,806,847 |
|  | 9,652,793 |  | 9,830,155 |
Creditors: amounts falling due within one year | 8 | (70,127) |  | (10,124,546) |
Net current assets/(liabilities) |  |  | 9,582,666 |  | (294,391)
Total assets less current liabilities |  |  | 9,998,216 |  | (212,534)
Net assets/(liabilities) |  |  | 9,998,216 |  | (212,534)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 10,350,100 |  | 100
Profit and loss account |  |  | (351,884) |  | (212,634)
|  |  | 9,998,216 |  | (212,534)
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 November 2025.
E J Lucas
Director
The notes on pages 3 to 9 form part of these financial statements. Page 1
ARTICHOKE HOMES LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MAY 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 June 2024 | 100 | (212,634) | (212,534)
Comprehensive income for the year |  |  |
Loss for the year | - | (138,536) | (138,536)
Total comprehensive income for the year | - | (138,536) | (138,536)
Contributions by and distributions to owners |  |  |
Dividends: Equity capital | - | (714) | (714)
Shares issued during the year | 10,350,000 | - | 10,350,000
At 31 May 2025 | 10,350,100 | (351,884) | 9,998,216
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MAY 2024
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 June 2023 | 100 | (128,835) | (128,735)
Comprehensive income for the year |  |  |
Loss for the year | - | (83,799) | (83,799)
Total comprehensive income for the year | - | (83,799) | (83,799)
At 31 May 2024 | 100 | (212,634) | (212,534)
| The notes on pages 3 to 9 form part of these financial statements.
Page 2
ARTICHOKE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
1. | General information
Artichoke Homes Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 10208174. The address of the registered office is Haslers, Old Station Road, Loughton, Essex, IG10 4PL. The nature of the company's operations and principal activity is property development. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Going concern
The company incurred a loss for the year of £140,235 (2024: loss of £73,799) and had net liabilities at 31 May 2025 of £353,483 (2024: net liabilities of £212,534). Included in creditors within one year is an amount of £NIL (2024: £10,008,344) due to its parent company. The company has received financial support from its parent company and continues to receive this support and has no reason to believe that this support will be withdrawn, despite the change in ownership post year end. Based on this, the accounts have been prepared on the going concern basis and do not take into account any adjustments which would be necessary if the going concern basis was not appropriate.
| 2.3 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.4 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.5 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 3
ARTICHOKE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.5 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Freehold property | - |  |
|  |  |  | Plant and machinery | - | 10% | Straight Line
|  |  |  | Motor vehicles | - | 20% | Straight Line
|  |  |  | Fixtures and fittings | - | 10% | Straight Line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.6 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase. At each balance sheet date, stocks are assessed for impairment. If stock is 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.
| 2.7 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.8 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.9 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.10 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Page 4
ARTICHOKE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
3. | Employees
| The average monthly number of employees, including directors, during the year was 3 (2024 - 3).
Page 5
ARTICHOKE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
4. | Tangible fixed assets
|  | Freehold property | Plant and machinery | Motor vehicles | Fixtures and fittings | Computer equipment
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 June 2024 | - | 1,369 | 83,890 | - | 957
| Additions | 350,000 | 207 | - | 160 | 473
| At 31 May 2025 | 350,000 | 1,576 | 83,890 | 160 | 1,430
| Depreciation |  |  |  |  |
| At 1 June 2024 | - | 68 | 4,195 | - | 96
| Charge for the year on owned assets | - | 158 | 16,778 | 12 | 199
| At 31 May 2025 | - | 226 | 20,973 | 12 | 295
| Net book value |  |  |  |  |
| At 31 May 2025 | 350,000 | 1,350 | 62,917 | 148 | 1,135
| At 31 May 2024 | - | 1,301 | 79,695 | - | 861
Page 6
ARTICHOKE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 4.Tangible fixed assets (continued)
|  | Total
|  | £
| Cost or valuation |
| At 1 June 2024 | 86,216
| Additions | 350,840
| At 31 May 2025 | 437,056
| Depreciation |
| At 1 June 2024 | 4,359
| Charge for the year on owned assets | 17,147
| At 31 May 2025 | 21,506
| Net book value |
| At 31 May 2025 | 415,550
| At 31 May 2024 | 81,857
5. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Development property | 7,866,446 | 7,004,611
|  | 7,866,446 | 7,004,611
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other debtors | 16,884 | 15,600
| Prepayments and accrued income | 6,507 | 3,097
|  | 23,391 | 18,697
Page 7
ARTICHOKE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 1,762,956 | 2,806,847
|  | 1,762,956 | 2,806,847
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 35,187 | 108,722
| Amounts owed to group undertakings | - | 10,008,344
| Other taxation and social security | - | 2,911
| Other creditors | 1,389 | 1,389
| Accruals and deferred income | 33,551 | 3,180
|  | 70,127 | 10,124,546
9. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £nil (2024: £12,024). Contributions totalling £nil (2024: £nil) were payable to the fund at the balance sheet date.
10. | Related party transactions
| The following amounts were due from/(to) related parties at the year end:
|  | 2025 | 2024
|  | £ | £
| Entities which have significant control over the company | - | 10,008,344
| Key management personnel | 1,189 | 1,189
11. | Controlling party
At the year end the ultimate parent undertaking is Sirius Prospects Limited, a company incorporated in England and Wales. At the year end, the ultimate controlling party is M J Yarrow, by virtue of his majority shareholding in the parent company. Page 8
ARTICHOKE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
12. | Auditors' information
The auditors' report on the financial statements for the year ended 31 May 2025 was unqualified. The audit report was signed on 25 November 2025 by Charalambos Patsalides FCCA ACA (Senior Statutory Auditor) on behalf of Haslers.
Page 9