| REGISTERED NUMBER: |
| STIRLIN DEVELOPMENTS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2025 |
| REGISTERED NUMBER: |
| STIRLIN DEVELOPMENTS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2025 |
| STIRLIN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06390806) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| STIRLIN DEVELOPMENTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 OCTOBER 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 4 Henley Way |
| Doddington Road |
| Lincoln |
| Lincolnshire |
| LN6 3QR |
| STIRLIN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06390806) |
| BALANCE SHEET |
| 31 OCTOBER 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 |
| PROVISIONS FOR LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Capital redemption reserve |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 1,440,304 | 1,468,021 |
| The directors acknowledge their 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. |
| STIRLIN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06390806) |
| BALANCE SHEET - continued |
| 31 OCTOBER 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| STIRLIN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06390806) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2025 |
| 1. | STATUTORY INFORMATION |
| Stirlin Developments Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about the company as an individual entity and do not contain consolidated information as the parent of a group. The company has taken advantage of the exemption available under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements as in the directors' opinion the group is small. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: |
| Rendering of services |
| When the outcome of a transaction can be estimated reliably, turnover from construction and plumbing services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to completion of contracts. |
| Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| STIRLIN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06390806) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter. |
| The interest element of these obligations is charged to the income statement over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to income statement on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate. |
| Work in progress |
| Revenue is recognised on contracts in accordance with Financial Reporting Standard 5 'Reporting the substance of transactions: Application Note G Revenue Recognition' where the company has obtained a right to consideration. Turnover recognised in this manner is based on an assessment of the fair value of the goods & services provided at the balance sheet date as a proportion of the total value of the engagement. Provision is made against unbilled amounts on those engagements where the right to receive payment is contingent on factors outside the control of the company. Unbilled revenue is included in debtors |
| STIRLIN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06390806) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Going concern |
| During the year to 31st October 2025, the company made a loss of £1,312,817 (2024: £371,411) and at that date its liabilities exceeded its assets by £1,035,021 (2024: assets exceeded liabilities by £277,796). The company is reliant upon the ongoing support of its directors. The directors consider the going concern basis of accounting to be appropriate for the business and in these financial statements. |
| Nature of the Net Liabilities Position: |
| The net liabilities position is substantially driven by intra-group funding balances. Amounts owed to group undertakings of £2,298,976 represent the primary component of the company's net liabilities of £1,035,021. These are intra-group balances, subordinate in nature to third-party creditors, and are dependent upon the continuing financial support of the parent group rather than external creditors. Third-party trade creditors stand at £529,719, which the directors consider to be a manageable and normal level for a contractor of the company's scale. |
| Support from Stirlin Group Limited: |
| The company is a subsidiary of Stirlin Group Limited ("SGL") and is reliant upon the continuing financial support of SGL and the wider group. The directors of SGL have confirmed their intention to continue to support the company for a period of not less than twelve months from the date of approval of these financial statements. The directors of the company consider this support to be substantive, for the following reasons: |
| - Third-party investment into SGL: subsequent to the year ended 31 October 2025, SGL completed a transaction in which a third-party investor subscribed £2,800,000 into the group in exchange for equity in certain subsidiaries, not including SDL. This transaction has provided a material injection of liquidity into the group and ensures cash availability to support the group's and company's operations. |
| - Independent valuation of Group assets: The combined market value of the land and minerals elements of Leafbridge Limited (a fellow subsidiary of SDL) has been independently assessed at £7,225,000. The directors have additionally attributed £250,000 to elements of the site excluded from the valuation, giving a total directors' valuation of £7,475,000. This represents a substantial independently evidenced asset base within the group materially in excess of the company's net liabilities. |
| Basis of Going Concern: |
| The directors have reviewed the group's cashflow projections, the confirmed support of SGL, the independently evidenced asset base within the group, and the forward contract position of the company. On this basis, the directors are satisfied that the company will be able to meet its liabilities as they fall due for a period of not less than twelve months from the date of approval of these financial statements and consider the going concern basis of accounting to be appropriate. |
| These financial statements do not include any adjustments that would result from the going concern basis of accounting proving to be inappropriate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| STIRLIN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06390806) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2025 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 November 2024 |
| Disposals | ( |
) |
| At 31 October 2025 |
| DEPRECIATION |
| At 1 November 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 October 2025 |
| NET BOOK VALUE |
| At 31 October 2025 |
| At 31 October 2024 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 November 2024 |
| and 31 October 2025 |
| NET BOOK VALUE |
| At 31 October 2025 |
| At 31 October 2024 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| STIRLIN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06390806) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2025 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| Amounts owed to group undertakings |
| Other creditors |
| 9. | LEASING AGREEMENTS |
| The company has obligations under non-cancellable operating leases due within one year totalling £19,667 (2024: £22,885) and due between one and five years totalling £6,000 (2024: £8,400). |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | £1 | 50 | 50 |