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Registration number: 13879353

St James Projects Ltd Unaudited Financial Statements for the Year Ended 30 September 2025
Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

St James Projects Ltd

Contents

Company Information | 1
Statement of Financial Position | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 8

St James Projects Ltd

Company Information

Directors | J J Paul K S Chang M H Merran

Registered office | 130 Shaftesbury Avenue London W1D 5EU

Accountants | Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

St James Projects Ltd

Statement of Financial Position as at 30 September 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 349,652 | 328,721
Investments | 5 | 1 | 1
|  | 349,653 | 328,722
Current assets |  |  |
Debtors | 6 | 67,823 | 2,500,841
Cash at bank and in hand |  | 858 | 129
|  | 68,681 | 2,500,970
Creditors: Amounts falling due within one year | 7 | (3,047,933) | (2,692,652)
Net current liabilities |  | (2,979,252) | (191,682)
Net (liabilities)/assets |  | (2,629,599) | 137,040
Capital and reserves |  |  |
Called up share capital |  | 1,000 | 1,000
Share premium reserve |  | 1,024,760 | 1,024,760
Retained earnings |  | (3,655,359) | (888,720)
Shareholders' (deficit)/funds |  | (2,629,599) | 137,040

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

St James Projects Ltd

Statement of Financial Position as at 30 September 2025

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of St James Projects Ltd have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Approved and authorised by the Board on 23 February 2026 and signed on its behalf by:

.........................................

J J Paul

Director

Company registration number: 13879353

St James Projects Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
130 Shaftesbury Avenue
London
W1D 5EU

The principal activity of the company is that of an investment holding company.

2 | Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Group accounts not prepared

In the opinion of the directors, the company and its subsidiary undertaking comprise a small group. The company has therefore taken advantage of the exemption provided by Section 399 of the Companies Act 2006 not to prepare group accounts.

Going concern

The company made a loss for the year ended 30 September 2025 and had a deficiency of net assets amounting to £2,629,599 at that date.
The company funds its working capital requirements with loans from directors, shareholders and companies under common control. At 30 September 2025 an amount of £2,785,598 was due to these entities. No matters have been drawn to the attention of the directors to suggest that this funding will not continue and that the amounts due will not be called upon for the foreseeable future. The directors have assessed that the subsidiary undertaking has sufficient working capital to meet its obligations.
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of management services and rental income in the ordinary course of company's activities. Turnover is shown net of value added tax, rebates and discounts. Turnover from management services is recognised as services are provided and from rental income evenly over the period of the lease or licence.

St James Projects Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Leasehold Property | Over length of lease
Fixtures & Fittings | Straight line over 5 years

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3 | Staff numbers

The average number of persons employed by the company during the year, was 0 (2024 - 0).

St James Projects Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

4 | Tangible assets

| Leasehold Property £ | Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 October 2024 | 403,560 | - | 403,560
Additions | 40,205 | 11,553 | 51,758
At 30 September 2025 | 443,765 | 11,553 | 455,318
Depreciation
At 1 October 2024 | 74,839 | - | 74,839
Charge for the year | 30,791 | 36 | 30,827
At 30 September 2025 | 105,630 | 36 | 105,666
Carrying amount
At 30 September 2025 | 338,135 | 11,517 | 349,652
At 30 September 2024 | 328,721 | - | 328,721

St James Projects Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

5 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 1 | 1

Subsidiaries | £
Cost or valuation
At 1 October 2024 | 1
Additions | 1
Impairment | (1)
At 30 September 2025 | 1
Carrying amount
At 30 September 2025 | 1
At 30 September 2024 | 1

6 | Debtors

| 2025 £ | 2024 £
Amounts owed by group undertakings | - | 2,421,092
Other debtors | 67,823 | 79,749
| 67,823 | 2,500,841

7 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Trade creditors | 173,088 | 129,904
Amounts owed to group undertakings | 1 | -
Other creditors | 2,874,844 | 2,562,748
| 3,047,933 | 2,692,652

8 | Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £2,680,051 (2024 - £2,960,051).

St James Projects Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

9 | Related party transactions

Summary of transactions with subsidiaries

In accordance with FRS 102 paragraph 1AC.35, exemption is taken to not disclose transactions in the period or amounts falling due with wholly owned undertakings.