Company registration number 13404071 (England and Wales)
STAE PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
PAGES FOR FILING WITH REGISTRAR
Debere Limited
Chartered Accountants
Swallow House
Parsons Road
Washington
Tyne and Wear
NE37 1EZ
STAE PROPERTIES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
STAE PROPERTIES LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF STAE PROPERTIES LIMITED FOR THE YEAR ENDED 31 MAY 2026
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of STAE Properties Limited for the year ended 31 May 2026 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the b oard of d irectors of STAE Properties Limited, as a body, in accordance with the terms of the engagement letter dated 7 April 2025. Our work has been undertaken solely to prepare for your approval the financial statements of STAE Properties Limited and state those matters that we have agreed to state to the b oard of d irectors of STAE Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than STAE Properties Limited and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that STAE Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of STAE Properties Limited. You consider that STAE Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of STAE Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory f inancial statements.

Debere Limited
Chartered Accountants
Swallow House
Parsons Road
Washington
Tyne and Wear
NE37 1EZ
23 August 2026
STAE PROPERTIES LIMITED
BALANCE SHEET
AS AT
31 MAY 2026
31 May 2026
- 2 -
2026
2025
Notes
£
£
£
£
Fixed assets
Investment property
4
295,577
295,577
Current assets
Debtors
5
439
410
Cash at bank and in hand
26,568
29,144
27,007
29,554
Creditors: amounts falling due within one year
6
(8,043)
(7,927)
Net current assets
18,964
21,627
Total assets less current liabilities
314,541
317,204
Creditors: amounts falling due after more than one year
7
(335,197)
(326,791)
Provisions for liabilities
5,084
2,317
Net liabilities
(15,572)
(7,270)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(15,672)
(7,370)
Total equity
(15,572)
(7,270)

The notes on pages 4 to 8 form part of these financial statements.

STAE PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2026
31 May 2026
- 3 -

For the financial year ended 31 May 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 23 August 2026 and are signed on its behalf by:
Mr S S Erinle
Director
Company registration number 13404071 (England and Wales)
STAE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
- 4 -
1
Accounting policies
Company information

STAE Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 60 Ophelia Crescent, Cawston, Rugby, CV22 7DU.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention modified to include the revaluation of investment properties.

The principal accounting policies adopted are set out below.

1.2
Going concern

The company meets its day-to-day working capital requirements through its bank facilities. The company's forecasts and projections, taking account of reasonably possible changes in trading performance, show that the company should be able to operate within the level of its current facilities. After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. true

1.3
Revenue

Turnover is recognised at the fair value of the rental income receivable for the year.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

STAE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2026
1
Accounting policies
(Continued)
- 5 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

STAE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2026
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
2
2
STAE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2026
- 7 -
4
Investment property
2026
£
Fair value
At 1 June 2025 and 31 May 2026
295,577

The investment properties are valued at the directors' estimate of their market value at the year end.

5
Debtors
2026
2025
Amounts falling due within one year:
£
£
Other debtors
439
410

Debtors are measured at transaction price, less any impairment.

6
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
110
-
0
Other creditors
7,933
7,927
8,043
7,927

Short term creditors are measured at the transaction price.

7
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans and overdrafts
224,414
216,008
Amounts owed to group undertakings and undertakings in which the company has a participating interest
110,783
110,783
335,197
326,791
Creditors which fall due after five years are payable as follows:
Payable by instalments
224,415
216,008

The bank loans and overdrafts amounting £224,414 (2025: £216,008) are secured by a fixed and floating charge over the assets of the company.

Long term creditors are measured at the transaction price.

8
Related party transactions
Transactions with related parties
STAE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2026
8
Related party transactions
(Continued)
- 8 -

The following amounts were outstanding at the reporting end date:

2026
2025
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
110,783
110,783

This account is unsecured, interest free and there are no fixed repayment terms.

9
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Advances
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Director 1
-
3,414
(30)
3,384
Director 2
-
3,414
(29)
3,385
6,828
(59)
6,769
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