Stirlin Sadler Road SPV LLP - LLP accounts 24.3

REGISTERED NUMBER: OC366724 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

STIRLIN SADLER ROAD SPV LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Statement of Financial Position

4

to

5

Reconciliation of Members' Interests

6

to

7

Notes to the Financial Statements

8

to

11

DESIGNATED MEMBERS:

JPW Trade Limited

Stirlin Group Limited

REGISTERED OFFICE:

11 Sadler Court

Stirlin Point

Lincoln

Lincolnshire

LN6 3RG

REGISTERED NUMBER:

OC366724 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

The members present their report with the financial statements of the LLP for the year ended 31 October 2025.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of property developers.

DESIGNATED MEMBERS

The designated members during the year under review were:

JPW Trade Limited

Stirlin Group Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £494,850 (2024 - £38,980 profit).

MEMBERS' INTERESTS

Members capital is subscribed to in accordance with the members agreement and will be repaid by the Limited Liability Partnership on the departure of a member from the Limited Liability Partnership.

Profits for the year are allocated in accordance with the members agreement.

Members may only make drawings on account of profits if all members agree and in such case any overdrawing of profits, as disclosed in the annual financial statements, shall be repaid immediately.

ON BEHALF OF THE MEMBERS:

Stirlin Group Limited - Designated member

13 May 2026

TURNOVER

1,048,000

1,847,000

Cost of sales

1,067,884

1,598,952

GROSS (LOSS)/PROFIT

(19,884

)

248,048

Administrative expenses

171,062

78,140

(190,946

)

169,908

Other operating income

125,980

136,043

OPERATING (LOSS)/PROFIT

(64,966

)

305,951

Fair value gain on investments

4

-

65,000

(64,966

)

370,951

Interest payable and similar expenses

429,884

331,971

(LOSS)/PROFIT FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT SHARES

(494,850

)

38,980

(LOSS)/PROFIT FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT SHARES

(494,850

)

38,980

Members' remuneration charged as an expense

5

494,850

(38,980

)

PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR
DISCRETIONARY DIVISION AMONG MEMBERS

-

FIXED ASSETS

Tangible assets

6

78,031

97,538

Investments

7

1

-

Investment property

8

1,285,000

2,060,000

1,363,032

2,157,538

CURRENT ASSETS

Stocks

2,107,918

3,000,566

Debtors

9

2,880,687

2,716,356

Cash at bank

209,466

98,818

5,198,071

5,815,740

CREDITORS

Amounts falling due within one year

10

2,655,180

3,046,568

NET CURRENT ASSETS

2,542,891

2,769,172

TOTAL ASSETS LESS CURRENT LIABILITIES

3,905,923

4,926,710

CREDITORS

Amounts falling due after more than one year

11

932,375

1,458,311

NET ASSETS ATTRIBUTABLE TO MEMBERS

2,973,548

3,468,399

LOANS AND OTHER DEBTS DUE TO MEMBERS

13

2,830,851

3,269,058

MEMBERS' OTHER INTERESTS

Fair value reserve

142,697

199,341

2,973,548

3,468,399

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

13

2,830,851

3,269,058

Members' other interests

142,697

199,341

2,973,548

3,468,399

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 October 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by J A Kirby for and on behalf of the members of the LLP and authorised for issue on 13 May 2026 and were signed by:

Stirlin Group Limited - Designated member

EQUITY

DEBT

TOTAL

Members'

Loans and other debts due to

MEMBERS'

other

members less any amounts due

INTERESTS

interests

from members in debtors

Other

reserves

amounts

Total

£

Amount due to members

3,269,058

Amount due from members

-

Balance at 1 November 2024

199,341

3,269,058

3,468,399

Members' remuneration charged as an
expense, including employment and
retirement benefit costs

-

(494,850

)

(494,850

)

Profit for the financial year available
for discretionary division among
members

-

Members' interests after profit for the
year

199,341

2,774,208

2,973,549

Transfer

(56,644

)

-

(56,644

)

Introduced by members

-

56,643

Amount due to members

2,830,851

Amount due from members

-

Balance at 31 October 2025

142,697

2,830,851

2,973,548

EQUITY

DEBT

TOTAL

Members'

Loans and other debts due to

MEMBERS'

other

members less any amounts due

INTERESTS

interests

from members in debtors

Other

reserves

amounts

Total

£

Amount due to members

3,265,416

Amount due from members

-

Balance at 1 November 2023

164,003

3,265,416

3,429,419

Members' remuneration charged as an
expense, including employment and
retirement benefit costs

-

38,980

Profit for the financial year available
for discretionary division among
members

-

Members' interests after profit for the
year

164,003

3,304,396

3,468,399

Fair value reserve

35,338

-

35,338

Introduced by members

-

(35,338

)

(35,338

)

Amount due to members

3,269,058

Amount due from members

-

Balance at 31 October 2024

199,341

3,269,058

3,468,399

1.	STATUTORY INFORMATION

Stirlin Sadler Road SPV LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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:

Sale of goods

Turnover from the sale of properties is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on the completion date.

Rental income

Rental income is recognised in the period to which it relates.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

20% on reducing balance

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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. 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 the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2024 - NIL).

4.	EXCEPTIONAL ITEMS

2025

2024

£

Fair value gain on investments

-

65,000

5.	INFORMATION IN RELATION TO MEMBERS

2025

2024

£

Members' remuneration charged as an expense

Automatic division of (loss)/profit

(494,850

)

38,980

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2024

and 31 October 2025

121,923

DEPRECIATION

At 1 November 2024

24,385

Charge for year

19,507

At 31 October 2025

43,892

NET BOOK VALUE

At 31 October 2025

78,031

At 31 October 2024

97,538

The net book value of tangible fixed assets includes £78,031 (2024 - £97,538) in respect of assets held under hire purchase contracts.

7.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

1

At 31 October 2025

1

NET BOOK VALUE

At 31 October 2025

1

8.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2024

2,060,000

Disposals

(775,000

)

At 31 October 2025

1,285,000

NET BOOK VALUE

At 31 October 2025

1,285,000

At 31 October 2024

2,060,000

Fair value at 31 October 2025 is represented by:

£

Valuation in 2022

77,697

Valuation in 2024

65,000

Cost

1,142,303

1,285,000

If investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

Cost

1,142,303

1,860,659

Investment property was valued on an open market basis on 31 October 2025 by the members .

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

11,589

15,079

Other debtors

2,869,098

2,701,277

2,880,687

2,716,356

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

1,402,181

112,630

Hire purchase contracts

17,993

16,290

Trade creditors

79,376

21,526

Taxation and social security

46,048

-

Other creditors

1,109,582

2,896,122

2,655,180

3,046,568

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loans

857,756

1,365,699

Hire purchase contracts

74,619

92,612

932,375

1,458,311

2025

2024

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

812,384

1,267,391

12.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans

2,259,937

1,478,329

The loans are secured by either a charge over the developments being carried out or by the LLP's investment properties.

13.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2025

2024

£

Amounts owed to members in respect of profits

2,830,851

3,269,058

Falling due within one year

2,830,851

3,269,058

Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.