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Registration number: 15239423

Alfreton Road JV Limited
Unaudited Filleted Financial Statements
for the Period from 1 November 2024 to 30 September 2025

Alfreton Road JV Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 6

Alfreton Road JV Limited

Company Information

Director | Mark Slatter

Registered office | 85 Buckingham Gate London England SW1E 6PD

Accountants | Carbon Accountancy Limited Chartered Accountants80-83 Long Lane London EC1A 9ET

Alfreton Road JV Limited

(Registration number: 15239423)
Balance Sheet as at 30 September 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Investments | 4 | 37,994 | 37,994
Current assets |  |  |
Debtors | 5 | 31,462,347 | 31,462,447
Cash at bank and in hand |  | 65 | -
|  | 31,462,412 | 31,462,447
Creditors: Amounts falling due within one year | 6 | (31,502,775) | (31,501,541)
Net current liabilities |  | (40,363) | (39,094)
Net liabilities |  | (2,369) | (1,100)
Capital and reserves |  |  |
Called up share capital | 7 | 100 | 100
Retained earnings |  | (2,469) | (1,200)
Shareholders' deficit |  | (2,369) | (1,100)

For the financial period ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 July 2026

......................................... Mark Slatter Director

Alfreton Road JV Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2024 to 30 September 2025

1 | General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
85 Buckingham Gate
London
SW1E 6PD
England

These financial statements were authorised for issue by the director on 16 July 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.
At the balance sheet date, there was a net deficiency of assets of £2.4k, however the director has confirmed continued support and consider the company retains sufficient working capital to continue trading for the foreseeable future.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Alfreton Road JV Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2024 to 30 September 2025

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 (including the director) during the period, was 1 (2024 - 1).

4 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 37,994 | 37,994

Alfreton Road JV Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2024 to 30 September 2025

Subsidiaries | £
Cost or valuation
At 1 November 2024 | 37,994
Provision
Carrying amount
At 30 September 2025 | 37,994
At 31 October 2024 | 37,994

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Subsidiary undertakings
Balia Limited | 85 Buckingham Gate, London SW1E 6PD England | Ordinary | 100% | 100%

Subsidiary undertakings
Balia Limited The principal activity of Balia Limited is the development of building projects.

5 | Debtors

Current | Note | 2025 £ | 2024 £
Amounts owed by related parties | 8 | 31,462,347 | 31,462,447
|  | 31,462,347 | 31,462,447

Alfreton Road JV Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2024 to 30 September 2025

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Amounts owed to related parties | 8 | 31,500,341 | 31,500,341
Accruals and deferred income |  | 2,434 | 1,200
|  | 31,502,775 | 31,501,541

7 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary A shares of £1 each | 75 | 75 | 75 | 75
Ordinary B shares of £1 each | 25 | 25 | 25 | 25
| 100 | 100 | 100 | 100

8 | Related party transactions

Transactions with parent entities
HGP III Ltd
(Shareholder of Alfreton Road JV Ltd)
At the year end, the outstanding loan owed by the company to HGP III Ltd was £23,625,255 (2024 - £23,625,255). No interest was charged on the loan, and the loan is repayable on demand.
Alfreton Road Holdco Ltd
(Shareholder of Alfreton Road JV Ltd)
At the year end, the outstanding loan owed by the company to Alfreton Road Holdco Ltd was £7,875,086 (2024 - £7,875,086). No interest was charged on the loan, and the loan is repayable on demand.
Transactions with subsidiaries
Balia Ltd
(Subsidiary of Alfreton Road JV Ltd)
At the year end, the outstanding loan owed to the company by Balia Ltd was £31,462,347 (2024 - £31,462,447). No interest was charged on the loan, and the loan is repayable on demand.