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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2025
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SJC 15 LIMITED
COMPANY INFORMATION
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SJC 15 LIMITED
CONTENTS
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SJC 15 LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
We aim to present a balanced and comprehensive review of the performance and development of the business during and at the end of the year, consistent with its size and complexity; and in the real context of risk and uncertainties we face.
Principal activity This entity functions as the Parent Company for both the leisure and property divisions, overseeing a broad spectrum of commercial activities. These include the operation of bars and nightclubs, the promotion of live music events, and a comprehensive property portfolio encompassing investment, development and management.
In 2025, the property division continued to actively manage and enhance its portfolio through a combination of lease renewals, new lettings and asset management initiatives.
During the year, several significant lease renewals were completed, including agreements with White Stuff, Magpie and Waterstones. These transactions secured continued occupation across key assets and provided certainty of income streams within the portfolio. The Group also completed the assignment of the former Roxy premises to NQ64, ensuring continued occupation of the property. The Group also achieved a number of new lettings during the year, including premises at Fletcher Gate, Cobden Chambers, Clock Tower. These new occupancies further reduced void space across the estate, increased rental income and demonstrate continued demand for well-located property within the portfolio. Meanwhile, the Leisure division of the Group experienced another successful year. Demand remained strong across the venue and events businesses, supported by the return of one of the Group's major festivals following its fallow year in 2024. The venues business continues to maintain a strong market position whilst investing in its estate and live entertainment offering.
The Group faces several significant risks, particularly those of a commercial nature related to its subsidiary businesses. Among these, competitive pressure within the UK market remains a persistent challenge. The Group must continuously navigate the complexities of an increasingly competitive landscape, where growth in competition and evolving consumer preferences pose ongoing threats.
To mitigate these risks, the Group maintains robust risk management procedures focused on financial stability, regulatory compliance and operational resilience across its subsidiaries. Furthermore, staying ahead of competitors necessitates a commitment to innovation, investment and the delivery of a compelling customer proposition across both the leisure and property sectors.
The profit for the year was £1,441,928 (2024: £3,420,797). Net assets at 31 December 2025 were £32,284,659 (2024: £31,842,731). The results reflect the continued successful performance of the Group's leisure and property operations, together with the benefits arising from active portfolio management and strong occupancy levels across the estate.
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SJC 15 LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
SJC15: Stakeholder engagement
At SJC15, we recognise our legal obligation under Section 172 of the Companies Act 2006 to act in a manner that we, in good faith, believe would most likely promote the success of the Group for the benefit of its members as a whole. In fulfilling this duty, we are committed to considering the long-term consequences of our decisions on the Group and its stakeholders. This statement outlines how the Board of Directors endeavours to uphold this responsibility. We engage with our key stakeholders as outlined below: Our employees We have many skilled and experienced team members working for the SJC15 Group of companies, many of whom have built up significant experience in the industry. The recruitment and retention of staff remains key to the continued success of the Group. We engage with our employees as follows: • Remuneration is set at market levels, with team members rewarded through appropriate bonus structures. • We provide different forms of training to meet the needs of departments and individuals across the business. This includes the management training programme, which has now been running for a number of years and continues to support the development of managers across the Group. • We continue to hold regular senior management and team leader meetings to ensure departments are involved in significant business decisions. This is in addition to wider senior manager, team leader and venue manager meetings held during the year. • We have introduced a new “Crew Call” forum within one of our venues, creating a positive platform for employees from all departments to share ideas, contribute to improvements and have a meaningful voice in how the business is run. Our customers and suppliers We have worked with many of our suppliers for a number of years, enabling us to source equipment and stock at short notice when required. We continue to value strong supplier relationships and recognise the importance of paying suppliers on agreed terms. This is particularly important for smaller suppliers, where prompt payment supports their own cash flow and trading position. We also continue to work with local suppliers where possible, including in areas such as craft beer, where local sourcing supports both our customer offer and our wider supplier relationships. Our Community SJC 15 remains committed to supporting community projects and charitable initiatives. A flagship example is the Beat the Streets Festival, which supports the Framework charity for the homeless. Since launch, the festival has provided substantial support and has helped make a lasting contribution to the local community. Through these initiatives and our ongoing partnership with Framework, we are proud to have raised over £600,000 for community causes since 2018. Since 2018, we have also organised and funded the Women in Music brand, designed to encourage more women to pursue careers in the music industry. These events create a platform to celebrate success stories, share experiences and address the challenges women face in the sector. The Group also continues to support local community and sporting initiatives where appropriate. Our Planet SJC 15 acknowledges its environmental responsibilities beyond compliance with legal and regulatory standards. We are committed to minimising our environmental impact and continuing to improve environmental performance as part of our business strategy and operating practices.
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SJC 15 LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
During the year, we continued to monitor energy usage and tasked teams with identifying opportunities to reduce consumption where savings could be achieved. Within our festival operations, we continued sustainability initiatives including the use of HVO fuel for generators, locally sourced water, reusable cups, limiting single-use plastic and working with charity partners to reduce food wastage. A key part of our environmental commitment is that all of our electricity is sourced from renewable sources, supported by Renewable Energy Guarantees of Origin certificates.
This report was approved by the board and signed on its behalf.
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SJC 15 LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £1,441,928 (2024 - £3,420,797).
The directors who served during the year were:
The Group will continue to focus on enhancing income generation from its property portfolio through lease renewals, reducing void space and selective acquisition opportunities. Work will continue on strategic development opportunities including the Lilley & Stone site and the land promotion project.
The Group ensures that employees are consulted on a regular basis so that the views of employees can be taken into account in making decisions which are likely to affect their interests. The Group also ensures achievement of a common awareness on the part of all employees of the financial and economic factors affecting the performance of the Group.
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SJC 15 LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Quantification and reporting methodology
We have followed the 2019 HM Government Environmental Reporting Guidelines. We have also used the GHG Reporting Protocol – Corporate Standard and have used the 2025 UK Government's Conversion Factors for Company Reporting. Measures taken to improve energy efficiency During 2025, we undertook works to improve insulation at our head office and upgraded heating controls to reduce overall energy consumption. We also continued the initiatives implemented in the previous year across our festival operations, including the use of HVO fuel for generators, locally sourced water, reusable cups, reduced reliance on single-use plastics, and collaboration with a national charity to minimise food waste.
Intensity measurement
The chosen intensity measurement ratio is total gross emissions in metric tonnes CO2e per £1m of turnover: 7.18 for the year (2024: 6.62).
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SJC 15 LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
On 1 April 2026, the Company's existing ordinary share capital was reorganised into four separate share classes. As part of this reorganisation, certain shares were transferred to newly established trusts as part of the shareholders' succession and ownership arrangements.
The reorganisation did not result in any change in the ultimate control of the Company.
The auditors, PKF Smith Cooper Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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SJC 15 LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SJC 15 LIMITED
We have audited the financial statements of SJC 15 Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2025, which comprise the Consolidated statement of comprehensive income, the Consolidated analysis of net debt, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the Parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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SJC 15 LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SJC 15 LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.
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SJC 15 LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SJC 15 LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the group and industry, we identify the key laws and regulations affecting the group. We identified that the principle risk of fraud or non-compliance with laws and regulations related to: • management bias in respect of accounting estimates and judgements made; • management override of control; • posting of unusual journals or transactions. We focussed on those areas that could give rise to a material misstatement in the Group financial statements. Our procedures included, but were not limited to: • Enquiry of management and those charged with governance around actual and potential litigation and claims, including instances of non-compliance with laws and regulations and fraud; • Reviewing legal expenditure in the year to identify instances of non-compliance with laws and regulations and fraud; • Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; • Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias. In particular the carrying value of investment and freehold properties. It is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
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SJC 15 LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SJC 15 LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditors
2 Lace Market Square
Nottingham
NG1 1PB
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SJC 15 LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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SJC 15 LIMITED
REGISTERED NUMBER: 03377811
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 18 to 38 form part of these financial statements.
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SJC 15 LIMITED
REGISTERED NUMBER: 03377811
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 18 to 38 form part of these financial statements.
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SJC 15 LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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SJC 15 LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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SJC 15 LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
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SJC 15 LIMITED
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2025
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SJC 15 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1.Accounting policies
SJC 15 Limited is a private company limited by shares incorporated in England, United Kingdom. The address of the registered office is given in the Company information page of these financial statements. The Company's registration number is 03377811. The nature of the Group’s operations and principal activities are given in the group strategic report.
The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in Sterling which is the functional currency of the Group and have been rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
The Group financial statements consolidate the financial statements of the Company and its subsidiary undertakings drawn up to 31 December each year.
Subsidiary undertakings are included using the acquisition method of accounting. Under this method the group profit and loss account and statement of cashflows include the results and cashflows of subsidiaries from the date of acquisition to the date of sale outside the group in the case of disposals of subsidiaries. The purchase consideration has been allocated to the assets and liabilities on the basis of fair value at the date of acquisition. No profit and loss account is presented for the company as permitted by Section 408 of the Companies Act 2006.
The consolidated financial statements have been prepared on a going concern basis. At the reporting date, the Group’s current liabilities exceeded its current assets by £ 632,158. Notwithstanding this, the directors consider it appropriate to prepare the financial statements on a going concern basis for the following reasons:
• The Group has substantial net assets and no external debt. • The Group holds significant investment properties which are readily realisable or could be used as security for financing facilities if required. • The directors have prepared cash flow forecasts and are satisfied that the Group has adequate resources to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of the financial statements. Accordingly, the directors believe the Group has sufficient resources to continue in operational existence for the foreseeable future and that it is appropriate to prepare the financial statements on a going concern basis.
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SJC 15 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1.Accounting policies (continued)
The sale of wet and dry goods within the Group's venues is recognised at the point of sale, when payment is made by the customer. Door receipts are recognised on entrance to the venue. Sales of tickets are usually recognised when the event; for which consideration has been received, actually occurs. Sponsorship income and hire of facilities income is recognised in line with the period to which it relates. Revenue includes rents and service charges receivable, exclusive of value added tax. Revenue is therefore recognised in line with the lease agreement, as rents and charges fall due. Revenue includes the sale of property. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable. Operating leases: lessor Rentals receivable under operating leases are credited to the Consolidated Statement of Comprehensive Income on a straight line basis over the term of the relevant lease. Lease incentives are recognised over the lease term on a straight line basis.
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SJC 15 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1.Accounting policies (continued)
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SJC 15 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1.Accounting policies (continued)
Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of comprehensive income over its useful economic life. Amortisation is provided at the following rates: Goodwill is amortised over ten years. Other intangible assets Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Amortisation is provided at the following rates: Patents and trademarks - fully amortised.
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off cost, less estimated residual value, of each asset on a systematic basis over its expected useful life.
Depreciation is provided on the following basis:
No depreciation is provided in the year of acquisition whilst a full year's depreciation is provided in the year of disposal.
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SJC 15 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1.Accounting policies (continued)
Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.
Investment property is carried at fair value derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.
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SJC 15 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. Investments in non-derivative instruments that are equity to the issuer are measured: - at fair value with changes recognised in the Consolidated statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably; - at cost less impairment for all other investments. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Consolidated statement of comprehensive income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Group would receive for the asset if it were to be sold at the balance sheet date. Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a
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SJC 15 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1.Accounting policies (continued)
net basis or to realise the asset and settle the liability simultaneously.
Revaluation of investment properties - the Group carries its investment property at fair value, with changes in fair value being recognised in profit or loss. The Group has periodically engaged independent valuation specialists to determine fair value for certain properties. The valuer used a valuation technique based on a discounted cash flow model as there is a lack of comparable market data because of the nature of the property. The determined fair value of the investment property is most sensitive to the estimated yield as well as the long term vacancy rate. The key assumptions used to determine the fair value of investment property are further explained in the notes to the accounts. Those not valued by the independent valuer were valued by the Directors based on their knowledge.
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SJC 15 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 25
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SJC 15 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 26
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SJC 15 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 27
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SJC 15 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
10.Taxation (continued)
There were no factors that may affect future tax charges.
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SJC 15 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 29
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SJC 15 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 30
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SJC 15 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
14.Tangible fixed assets (continued)
Page 31
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SJC 15 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 32
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SJC 15 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The majority of the higher value investment properties were revalued by FHP in April 2026, with the remainder continuing to be revalued by the directors on an annual basis. In assessing the valuation, they consulted with chartered surveyors and used their own knowledge of the current property market.
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SJC 15 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 34
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SJC 15 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 35
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SJC 15 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
500,000 preference shares were issued at £1 per share on 16 October 2024. In 2025, 1,627,583 preference shares were redeemed at £1 per share.
The preference shares are redeemable at any time after the company gives written notice of its intention to redeem the shares, or at any time the holder gives written notice of their intention to redeem, or following a change in controlling interest. There is no premium payable on redemption of the shares. Dividends accrue at 8% per annum and an amount of £1,203,335 (2024: £1,084,667) is included in accruals in respect of preference share interest due to the holders.
Share premium account
Investment property revaluation reserve
During the year investment property amounting to £Nil (2024: £750,000) was sold realising gains of £Nil (2024: £499,225).
Profit and loss account
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SJC 15 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £224,118 (2024: £303,269).
Contributions totalling £30,781 (2024: £20,962) were payable to the fund at the balance sheet date.
Included within other creditors is £1,725,632 (2024: £1,481,703) due to the directors. Amounts advanced from directors during the period totalled £3,029,780 (2024: £2,187,500) and amounts repaid by the Company during the period totalled £2,785,851 (2024: £4,264,122).
During the year the group accrued interest of £Nil (2024: £Nil) in respect of these loans. Included within other creditors are directors' preference shares of £1,140,000 (2024: £2,267,583). An amount of £1,203,335 (2024: £1,084,667) is included in accruals in respect of preference share interest due to the directors.
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SJC 15 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The reorganisation did not result in any change in the ultimate control of the Company.
The Group is controlled by S P D Akins and G H Akins (Jnr) who are directors and shareholders of SJC 15 Limited.
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