IRIS Accounts Production v25.4.12.37 13734220 director 1.4.24 31.3.25 31.3.25 0 0 false true false false true false Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 13734220 2024-03-31 13734220 2025-03-31 13734220 2024-04-01 2025-03-31 13734220 2023-03-31 13734220 2023-04-01 2024-03-31 13734220 2024-03-31 13734220 ns15:EnglandWales 2024-04-01 2025-03-31 13734220 ns14:PoundSterling 2024-04-01 2025-03-31 13734220 ns10:Director1 2024-04-01 2025-03-31 13734220 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 13734220 ns10:SmallEntities 2024-04-01 2025-03-31 13734220 ns10:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 13734220 ns10:SmallCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 13734220 ns10:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 13734220 ns10:FullAccounts 2024-04-01 2025-03-31 13734220 ns10:OrdinaryShareClass1 2024-04-01 2025-03-31 13734220 ns10:RegisteredOffice 2024-04-01 2025-03-31 13734220 ns5:CurrentFinancialInstruments 2025-03-31 13734220 ns5:CurrentFinancialInstruments 2024-03-31 13734220 ns5:ShareCapital 2025-03-31 13734220 ns5:ShareCapital 2024-03-31 13734220 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 13734220 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 13734220 ns10:OrdinaryShareClass1 2025-03-31 13734220 1 2024-04-01 2025-03-31

REGISTERED NUMBER: 13734220 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

SHERRIFF'S GATE (PHASE 1) DEVELOPMENTS

LIMITED

| SHERRIFF'S GATE (PHASE 1) DEVELOPMENTS |

| LIMITED (REGISTERED NUMBER: 13734220) |

Contents of the Financial Statements

for the year ended 31 March 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| SHERRIFF'S GATE (PHASE 1) DEVELOPMENTS |

| LIMITED |

Company Information

for the year ended 31 March 2025

| Director: | G M Livingston

| Registered office: | 3rd Floor

| 86-90 Paul Street

| London

| England

| EC2A 4NE

| Registered number: | 13734220 (England and Wales)

| Accountants: | Cooper Parry Advisory Limited

| Broadwalk House, 5th Floor

| 5 Appold Street

| Broadgate

| London

| EC2A 2AG

| SHERRIFF'S GATE (PHASE 1) DEVELOPMENTS |

| LIMITED (REGISTERED NUMBER: 13734220) |

Balance Sheet

31 March 2025

2025 | 2024 |

| Notes | £ | £

Current assets

Stocks | 4 | 45,760,577 |  | 36,318,622 |  |

Debtors | 5 | - |  | 27,724 |  |

Cash at bank | 396,695 |  | 1,038,937 |  |

46,157,272 |  | 37,385,283 |  |

Creditors

Amounts falling due within one year | 6 | 46,162,006 |  | 37,389,511 |  |

Net current liabilities | (4,734 | ) | (4,228 | ) |

Total assets less current liabilities | (4,734 | ) | (4,228 | ) |

Capital and reserves

Called up share capital | 8 | 100 |  | 100 |  |

Retained earnings | (4,834 | ) | (4,328 | ) |

Shareholders' funds | (4,734 | ) | (4,228 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 March 2026 and were signed by:

G M Livingston - Director

| SHERRIFF'S GATE (PHASE 1) DEVELOPMENTS |

| LIMITED (REGISTERED NUMBER: 13734220) |

Notes to the Financial Statements

for the year ended 31 March 2025

1. | Statutory information

| Sherriff'S Gate (Phase 1) Developments 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.

| The company relies on support from related companies to finance property development activities and working capital. Provided these remain in place, and there is no suggestion that they will not, the director has a reasonable expectation that the company and him, personally, have adequate resources to continue the company's operational existence for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing the annual reports and accounts.

| Key source of estimation, uncertainty and judgement

| The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

| Stocks

| Work in progress is valued at the lower of cost and net realisable value.

| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

| Work-in-progress is valued at the lower of costs and net realisable value less appropriate costs to sell. Where it is identified that the realisable value is lower than the costs incurred to date an impairment loss is immediately booked within the profit and loss account.

| SHERRIFF'S GATE (PHASE 1) DEVELOPMENTS |

| LIMITED (REGISTERED NUMBER: 13734220) |

Notes to the Financial Statements - continued

for the year ended 31 March 2025

2. | Accounting policies - continued

| Financial instruments

| Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

| Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

| Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

| Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. | Employees and directors

| The average number of employees during the year was NIL (2024 - NIL).

4. | Stocks

2025 | 2024 |

| £ | £

| Work-in-progress | 45,760,577 |  | 36,318,622 |  |

| SHERRIFF'S GATE (PHASE 1) DEVELOPMENTS |

| LIMITED (REGISTERED NUMBER: 13734220) |

Notes to the Financial Statements - continued

for the year ended 31 March 2025

5. | Debtors: amounts falling due within one year |

2025 | 2024 |

| £ | £

| VAT | - |  | 27,724 |  |

6. | Creditors: amounts falling due within one year |

2025 | 2024 |

| £ | £

| Bank loans and overdrafts (see note 7) | 43,918,751 |  | 35,235,725 |  |

| Trade creditors | 136,662 |  | 737,742 |  |

| Amounts owed to group undertakings | 1,329,738 |  | 1,231,165 |  |

| VAT | 46,527 |  | - |  |

| Other creditors | 182,328 |  | 180,629 |  |

| Directors' current accounts | - |  | 1,700 |  |

| Accrued expenses | 548,000 |  | 2,550 |  |

46,162,006 |  | 37,389,511 |  |

7. | Loans

| The bank loans entered into by the company are secured via a Fixed charge with a negative pledge, against both the land and property held within this entity, but also, the wider group.

8. | Called up share capital

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

value: |  | £ | £

| 100 | Ordinary | £1 | 100 |  | 100 |  |

9. | Related party disclosures

| At 31 March 2025 the company owed £66,160 (2024: £66,160) to Martsen Developments Worcester Limited, £9,950 (2024: £9,900) to Norton Parkway Developments Limited, £5,860.00 (2024: £5,860) to Lowesmoor Wharf Developments Limited, £93,000 (2024: £93,000) to Sherffif's Gate Developments Limited, £201,627 (2024: £201,627) to Harrison (Worcester) LLP, £934,925 (2024: £854,617) to Sherriff's Gate Limited and £18,216 (2024: £Nil) to Elgar Properties.

| All advances are made interest-free, unsecured and are repayable on demand.

10. | Post balance sheet events

| After the year end, on 4 April 2025, the shareholders completed the sale of the Company to Farlane Bidco Limited. As this transaction occurred after the reporting date and does not relate to conditions existing at 31 March 2025, it is treated as a non-adjusting post balance sheet event. No amendments have been made to the financial statements.

11. | Ultimate controlling party

| As at the year end, the company is a wholly owned subsidiary of Sherriff's Gate Limited, a company with a registered office address of The Porthouse, 75 Lowesmoor Wharf, Worcester, WR1 2RS.