REGISTERED NUMBER: 05643499 (England and Wales)

SJS (Derby) Limited

Financial Statements

for the Year Ended 30 September 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

O A Quarmby

D N Murray

P R P Morris

REGISTERED OFFICE:

33 George Street

Wakefield

West Yorkshire

WF1 1LX

REGISTERED NUMBER:

05643499 (England and Wales)

AUDITORS:

SMH Jolliffe Cork Audit Ltd

Accountants & Statutory Auditors

33 George Street

Wakefield

West Yorkshire

WF1 1LX

CURRENT ASSETS

Debtors

4

111,381

619,312

Cash at bank

4,022

4,215

115,403

623,527

CREDITORS

Amounts falling due within one year

5

115,402

623,526

NET CURRENT ASSETS

1

1

TOTAL ASSETS LESS CURRENT LIABILITIES

1

1

CAPITAL AND RESERVES

Called up share capital

6

1

1

SHAREHOLDERS' FUNDS

1

1

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 June 2026 and were signed on its behalf by:

O A Quarmby - Director

D N Murray - Director

1.	STATUTORY INFORMATION

SJS (Derby) Limited is a private limited 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 company's principal place of business is 36 Park Cross Street, Leeds, LS1 2QH.

The functional and presentation currency for the company is pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

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.

Going concern

The Company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Group Strategic Report, prepared by the company's holding company, St James Securities Group Limited. The Group Strategic Report further describes the financial position of the Group, risks and uncertainties.

During the financial year and up to the date of signing these accounts, St James Securities Group Limited and its subsidiary companies, including SJS (Derby) Limited, has continued to spend the majority of its time and financial resources working on its £230m regeneration of the Becketwell area of Derby City Centre.

In SJS (Derby) Limited, the £37.375m 259 unit Build to Rent (BTR) apartment building for Grainger Land & Regeneration Limited completed in July 2023.

In another Group member, SJS (4) Limited, the £45.8m 3,500 capacity Arena for Derby City Council completed in early February 2025. The development was delivered within the fixed price contract agreed with Derby City Council. At completion, the Arena was leased to and is operated by ASM Global. ASM Global is the world's leading venue management company, operating the likes of the OVO Arena Wembley, AO Arena Manchester, First Direct Arena Leeds amongst many others. The Becketwell Arena has been named as "Vaillant Live".

In SJS (4) Limited, the £1.8m Public Square at Becketwell, which was built for Derby City Council completed in July 2023.

All three developments were delivered within budget, despite the cost pressures from inflation and the impact of the war in Ukraine.

With the first phases consisting of the Arena, Public Square and BTR complete, SJS (Derby) Limited has been in discussions with various parties to build an office block on the Duckworth Square site. At this stage, however, there are significant risks surrounding viability and the availability of third-party intervention. Discussions are ongoing.

The property assets and land options that have previously been acquired by SJS (Derby) Limited, SJS (4) Limited and SJS (2) Limited, to ensure the development and completion of the Becketwell regeneration, will be utilised in the future. The income generated from these assets has ensured that 91.8% of the Group's work in progress property assets are income producing until they are developed. This income far exceeds the holding costs, providing a trading surplus to the Group and distributable to our Funding Partner, in the interim.

We still remain confident that the regeneration of the Becketwell area of Derby will be delivered within the next 5-6 years.

Going concern (continued)

The Funding and Development Partnership with Peveril Securities Limited and its Building Contractor owner, Bowmer & Kirkland Limited continues to thrive. Furthermore, the loans that St James Securities Group Limited has advanced to its subsidiaries are at parity with the remaining loans that Peveril Securities Limited has outstanding with St James (Becketwell) Limited. While ever the loan parity continues, interest is not charged by Peveril Securities Limited on the remaining loan balances.

The Funding and Development Partnership, together with the associated benefits of working with Bowmer & Kirkland Limited as building contractor, will continue to ensure the successful delivery of future phases of the Becketwell development.

When making their assessment of the company's ability to continue as a going concern, the directors acknowledge that uncertainties do exist, as reported in the Group's Strategic Report. However, after considering the above, the directors of SJS (Derby) Limited have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.

Financial instruments

The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, 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.

The company has no 'Other financial assets'.

Financial assets are derecognised when (a) the contractual rights to the cashflow from the asset expire or are settled or (b) substantially all the risks and rewards of ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other creditors and hire purchase contracts, 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 receipts discounted at a market rate of interest.

The company has no 'Other financial liabilities'.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation

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

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.25

30.9.24

£

£

Amounts owed by group undertakings

21,381

33,969

Amounts recoverable on contract

-

581,176

VAT

-

4,167

Prepayments and accrued income

90,000

-

111,381

619,312

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.25

30.9.24

£

£

Trade creditors

-

845

Amounts owed to group undertakings

10,798

2,639

VAT

100

-

Other creditors

7,350

2,638

Accruals and deferred income

97,154

617,404

115,402

623,526

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.25

30.9.24

value:

£

£

1

Ordinary

£1

1

1

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Claire Lawton FCA DChA (Senior Statutory Auditor)

for and on behalf of SMH Jolliffe Cork Audit Ltd

8.	CONTINGENT LIABILITIES

The Company is a party to certain intercompany loan facilities advanced to St James (Becketwell) Limited.

Peveril Securities Limited and St James Securities Group Limited hold debentures over all the assets of St James (Becketwell) Limited pursuant to Facilities Agreements dated 5 October 2021.

As at the balance sheet date, the amounts outstanding under these facilities were:

Peveril Securities Limited – £766,373 (2024: £786,373)

St James Securities Group Limited – £766,373 (2024: £786,373)

The loans were advanced in prior periods to fund development projects in Derby. No active developments are currently underway, and the facilities are repayable on demand. While no repayment has been demanded, the Company’s contingent exposure relates to its participation in agreements between Peveril Securities Limited and St James Securities Group Limited.

Pursuant to an agreement between Peveril Securities Limited and St James Securities Group Limited, no interest accrues on the respective loan balances for so long as the outstanding amounts to each lender remain equivalent. No interest has been charged in the current or prior year.

The Company considers that no outflow of resources is probable in respect of this contingent liability at the reporting date.

9.	RELATED PARTY DISCLOSURES