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Registered number: 05928409 SAVOY DEVELOPMENTS LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2025
SAVOY DEVELOPMENTS LIMITED REGISTERED NUMBER: 05928409 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note | £ | £ | £ | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | - |  | -
Tangible assets | 5 |  | 1,751 |  | 2,335
Investments | 6 |  | 2,285,000 |  | 1,585,000
|  |  | 2,286,751 |  | 1,587,335
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 7 | 1,109,373 |  | 1,117,619 |
Cash at bank and in hand | 8 | 1,782,314 |  | 1,572,273 |
|  | 2,891,687 |  | 2,689,892 |
Creditors: amounts falling due within one year | 9 | (1,892,059) |  | (1,574,199) |
Net current assets |  |  | 999,628 |  | 1,115,693
Total assets less current liabilities |  |  | 3,286,379 |  | 2,703,028
Provisions for liabilities |  |  |  |  |
Deferred tax | 10 |  | (14,587) |  | (15,171)
Net assets |  |  | 3,271,792 |  | 2,687,857
Capital and reserves |  |  |  |  |
Called up share capital | 11 |  | 100 |  | 100
Investment property reserve |  |  | 43,761 |  | 43,761
Profit and loss account |  |  | 3,227,931 |  | 2,643,996
|  |  | 3,271,792 |  | 2,687,857
Page 1
SAVOY DEVELOPMENTS LIMITED REGISTERED NUMBER: 05928409 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. 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 1 June 2026.
M D Tobin
Director
The notes on pages 3 to 10 form part of these financial statements. Page 2
SAVOY DEVELOPMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Savoy Developments Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 3 Brook Business Centre, Cowley Mill Road, Uxbridge, Middlesex, UB8 2FX. The company specialises in the development of building projects and construction of commercial buildings. 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 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably. Revenue is recognised at the point of delivery of services.
| 2.3 | Intangible assets
Goodwill Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of comprehensive income over its useful economic life of 5 years. Page 3
SAVOY DEVELOPMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.4 | 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. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. Depreciation is provided on the following basis:
|  |  |  | Office equipment | - | 25% reducing balance
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 the Statement of comprehensive income.
| 2.5 | 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.
| 2.6 | 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.
| 2.7 | 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.
| 2.8 | 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.
| 2.9 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term. Page 4
SAVOY DEVELOPMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.10 | Interest income
Interest income is recognised in the Statement of comprehensive income using the effective interest method.
| 2.11 | 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 the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.12 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.13 | Investment property
Investment properties are properties held to earn rent and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of the investment properties are included in the Statement of comprehensive income in the year in which they arise. Page 5
SAVOY DEVELOPMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.14 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to the Statement of comprehensive income.
3. | Employees
| The average monthly number of employees, including directors, during the year was 12 (2024 - 12).
4. | Intangible assets
|  | Goodwill
|  | £
| Cost |
| At 1 January 2025 | 9,987
| At 31 December 2025 | 9,987
| Amortisation |
| At 1 January 2025 | 9,987
| At 31 December 2025 | 9,987
| Net book value |
| At 31 December 2025 | -
| At 31 December 2024 | -
Page 6
SAVOY DEVELOPMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. | Tangible fixed assets
|  | Office equipment
|  | £
| Cost |
| At 1 January 2025 | 7,980
| At 31 December 2025 | 7,980
| Depreciation |
| At 1 January 2025 | 5,645
| Charge for the year | 584
| At 31 December 2025 | 6,229
| Net book value |
| At 31 December 2025 | 1,751
| At 31 December 2024 | 2,335
6. | Fixed asset investments
|  | Investment property
|  | £
| Valuation |
| At 1 January 2025 | 1,585,000
| Additions | 702,177
| Fair value adjustment | (2,177)
| At 31 December 2025 | 2,285,000
| The 2025 valuation was made by the directors, who are not property professionals, on an open market value for existing use basis. The valuation is not considered materially different to its cost.
Page 7
SAVOY DEVELOPMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 752,241 | 1,000,928
| Other debtors | 357,132 | 116,691
|  | 1,109,373 | 1,117,619
8. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 1,782,314 | 1,572,273
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 716,736 | 691,384
| Corporation tax | 287,521 | 249,540
| Other taxation and social security | 656,475 | 445,469
| Other creditors | 226,327 | 185,306
| Accruals and deferred income | 5,000 | 2,500
|  | 1,892,059 | 1,574,199
Page 8
SAVOY DEVELOPMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
10. | Deferred taxation
|  | 2025 | 2024
|  | £ | £
| At beginning of year | 15,171 | 28,783
| Credited to the Statement of comprehensive income | (584) | (13,612)
| At end of year | 14,587 | 15,171
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | - | 584
| Potential capital gains tax on sale of property | 14,587 | 14,587
|  | 14,587 | 15,171
11. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 100 Ordinary shares of £1 each | 100 | 100
12. | 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 £214,162 (2024 - £212,705) outstanding contributions at the year end were £Nil (2024 - £4,045). Page 9
SAVOY DEVELOPMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
13. | Commitments under operating leases
| At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 34,982 | 29,225
| Later than 1 year and not later than 5 years | 55,431 | 41,545
|  | 90,413 | 70,770
14. | Ultimate parent undertaking and controlling party
The immediate and ultimate parent company is Tobley Limited, a company incorporated in England and Wales. The controlling parties are the directors by virtue of their shareholding in the parent undertaking.
Page 10