SENECA PROPERTY 101BD LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
Company Registration No. 11179304 (England and Wales)
PAGES FOR FILING WITH REGISTRAR
SENECA PROPERTY 101BD LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
SENECA PROPERTY 101BD LIMITED
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investments
4
516
516
Current assets
Debtors
5
14,445,996
18,020,909
Cash at bank and in hand
276,751
132,328
14,722,747
18,153,237
Creditors: amounts falling due within one year
6
(7,727,201)
(20,038,002)
Net current assets/(liabilities)
6,995,546
(1,884,765)
Total assets less current liabilities
6,996,062
(1,884,249)
Creditors: amounts falling due after more than one year
7
(9,210,000)
-
0
Net liabilities
(2,213,938)
(1,884,249)
Capital and reserves
Called up share capital
999
999
Profit and loss reserves
(2,214,937)
(1,885,248)
Total equity
(2,213,938)
(1,884,249)

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 8 April 2026 and are signed on its behalf by:
Mr C J Bullough
Director
Company Registration No. 11179304
SENECA PROPERTY 101BD LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 July 2023
999
(1,104,731)
(1,103,732)
Year ended 30 June 2024:
Loss and total comprehensive income
-
(780,517)
(780,517)
Balance at 30 June 2024
999
(1,885,248)
(1,884,249)
Year ended 30 June 2025:
Loss and total comprehensive income
-
(329,689)
(329,689)
Balance at 30 June 2025
999
(2,214,937)
(2,213,938)
SENECA PROPERTY 101BD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -
1
Accounting policies
Company information

Seneca Property 101BD Limited is a private company limited by shares incorporated in England and Wales. The registered office is 9 The Parks, Haydock, Newton le Willows, Merseyside, WA12 0QJ.

1.1
Basis of preparation

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. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the directors are aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern.

The company has suffered a loss in the period. The company had net liabilities of £2,213,938 as at the Balance Sheet date.

The company's bank loan of £9,210,000 is under agreement until October 2027, and this has also been substantially reduced following the year end after certain sales took place.

The other secured loan of £1,900,000 is under agreement until August 2026, and it is anticipated that this will be extended as required.

Investor loans are technically repayable within one year but were provided on the basis that repayment would only take place when sale of property occurred in the subsidiaries to which funding has been supplied. Loan interest continues to be accrued on the outstanding balances and the directors are confident of the continuing support of the individual investors.

1.3
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.

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

1.4
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.

SENECA PROPERTY 101BD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 4 -
1.5
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.

1.6
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.

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.

SENECA PROPERTY 101BD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
2
Judgements and key sources of estimation uncertainty
(Continued)
- 5 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Recoverability of loans due from subsidiaries

At 30 June 2025, the company has loans due from subsidiaries totalling £14,588,330. A provision of £181,631 has been recognised for one subsidiary, reflecting concerns over the recoverability of part of this loan. The ability of the subsidiaries to repay the loans depends on the performance of each business, particularly income from investment properties and the value of those properties.

While this area involves inherent uncertainties, a formal property valuation conducted in March 2024 helped management conclude that the loans would be recoverable, with the exception of the provision already recognised.

3
Employees

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

2025
2024
Number
Number
Total
0
0
4
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
516
516
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
14,406,699
18,020,889
Other debtors
39,297
20
14,445,996
18,020,909

Amounts owed by group undertakings are stated net of a provision of £181,631 (2024: £181,631).

SENECA PROPERTY 101BD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 6 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
-
0
12,750,000
Taxation and social security
-
0
45,570
Other creditors
7,727,201
7,242,432
7,727,201
20,038,002

Other creditors include a loan of £1,900,000 (2024: £1,900,000) that is secured upon the group's property portfolio.

The bank loan was revised during the financial year and is now presented as a non-current liability.

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
9,210,000
-
0

The bank loan is secured on the group's property portfolio.

8
Audit report information

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 30 June 2025 and of its loss 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:
Mrs Deborah Thorn FCA
Statutory Auditor:
Champion Accountants LLP
Date of audit report:
8 April 2026
9
Events after the reporting date

In September 2025, one of the company's subsidiary companies sold two of its properties at their carrying values.

In July 2025, the company sold one of its subsidiary companies. The sale price reflected the carrying values of the properties within that company.

The above sales enabled the company to reduce debt levels significantly.

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