Registration number: 14753955

Sutherland Land And Property Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Sutherland Land And Property Ltd

Company Information

Directors

Mr Elisha Sjemtov Evers Mr Arie Johannes Maarten Van Dam Mr Cornelis Maartinus Verkade Mr Aren Van Dam

Registered office

8 Rodborough Road London London England NW11 8RY

Accountants

GILBERT ALLAN & CO 8 Rodborough Road London London NW11 8RY

Sutherland Land And Property Ltd

(Registration number: 14753955)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	33,436	-
Investment property	5	7,250,000	7,600,000
		7,283,436	7,600,000
Current assets
Debtors	6	141,052	47,534
Cash at bank and in hand		113,394	105,256
		254,446	152,790
Creditors: Amounts falling due within one year	7	(299,905)	(561,605)
Net current liabilities		(45,459)	(408,815)
Total assets less current liabilities		7,237,977	7,191,185
Creditors: Amounts falling due after more than one year	7	(10,341,768)	(9,391,816)
Net liabilities		(3,103,791)	(2,200,631)
Capital and reserves
Called up share capital		5	5
Retained earnings		(3,103,796)	(2,200,636)
Shareholders' deficit		(3,103,791)	(2,200,631)

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 September 2026 and signed on its behalf by:
 

Sutherland Land And Property Ltd

(Registration number: 14753955)
Balance Sheet as at 31 December 2025

......................................... Mr Elisha Sjemtov Evers Director

......................................... Mr Aren Van Dam Director

Sutherland Land And Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

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

The address of its registered office is:
8 Rodborough Road
London
London
NW11 8RY
England

These financial statements were authorised for issue by the Board on 14 September 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. In forming their view, the directors have considered the Company’s forecast cash flows, rental income receipts post year-end, and compliance with loan covenants. The directors have also received confirmation of ongoing financial support from the parent company. Accordingly, the directors consider that it remains appropriate to prepare the financial statements on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Sutherland Land And Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Tax

At 31 December 2025 the investment property had a carrying value of £7,250,000 (2024: £7,600,000), after additions of £375,708 and a fair value adjustment of £725,708. The tax base of the property is higher than its carrying value, giving rise to a deductible temporary difference of £2,827,649 (2024: £2,101,941). This would give rise to a deferred tax asset of approximately £706,912 (2024: £525,485) at the enacted UK corporation tax rate of 25%.

No deferred tax asset has been recognised in respect of this temporary difference, as it is not considered probable that sufficient taxable profits will be available in this company against which it could be utilised. The directors will continue to review this position annually.

Capital allowances of £259,667 were claimed during the year on fixtures within the property. No deferred tax liability has been recognised in respect of those allowances: on disposal the directors expect the fixtures to be transferred at their tax written down value under an election under section 198 Capital Allowances Act 2001, so that no balancing charge is expected to arise.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixture and fittings	Reducing balance at 10%

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Sutherland Land And Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

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.

Borrowings

Interest-bearing borrowings are initially recorded at the proceeds received, net of any directly attributable transaction costs.

In accordance with FRS 102, borrowings are ordinarily measured subsequently at amortised cost using the effective interest method. However, for the Company’s interest-only borrowings, the directors consider that applying the effective interest method would not provide relevant information about the Company’s financial performance, as it would result in recognising non-cash finance charges which do not reflect the actual interest profile of the loan.

As such, the Company has accounted for these loans at their nominal value, with interest expenses recognised on a cash basis as incurred. The directors consider this treatment to be appropriate on grounds of materiality and that it gives a true and fair view of the Company’s financial position and performance.

Loan arrangement and legal fees are recognised in the profit and loss account as incurred. For group reporting purposes, adjustments are made to align with the Group’s accounting policy, which applies the effective interest method and amortises loan fees over the life of the facility.

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 directors) during the year, was 0 (2024 - 0).

Sutherland Land And Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
Additions	37,151	37,151
At 31 December 2025	37,151	37,151
Depreciation
Charge for the year	3,715	3,715
At 31 December 2025	3,715	3,715
Carrying amount
At 31 December 2025	33,436	33,436

5	Investment properties

	2025 £
At 1 January	7,600,000
Additions	375,708
Fair value adjustments	(725,708)
At 31 December	7,250,000

An independent firm of professional valuers has been instructed to carry out a valuation of the investment property at Sutherland House, 149 St Vincent Street, Glasgow, G2 5NW at the end of the financial year, and a valuation report showed the fair value of the property was £7,250,000.

6

Debtors

Current	2025 £	2024 £
Prepayments	49,114	23,831
Other debtors	91,938	23,703
	141,052	47,534

Sutherland Land And Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	198,168	355,502
Taxation and social security	2,856	29,893
Accruals and deferred income	98,881	157,450
Other creditors	-	18,760
	299,905	561,605

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	10,341,768	9,391,816

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	2,886,433	2,886,433
Other borrowings	7,455,335	6,505,383
	10,341,768	9,391,816

9	Related party transactions

During the year the Company was charged £108,000 (2024: £108,000) in management fees by New Amsterdam Invest N.V.

At 31 December 2025, the Company owed £7,455,335 (2024: £6,505,383) to group undertakings in respect of intercompany loans. Interest of £304,122 (2024: £319,194) was charged on these loans during the year.

All transactions were undertaken on normal commercial terms.

10	Relationship between entity and parents

The parent of the largest group in which these financial statements are consolidated is New Amsterdam Invest N.V., incorporated in Netherlands.

The address of New Amsterdam Invest N.V. is:
Herengracht 280, 1016 BX Amsterdam

Sutherland Land And Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

The Company's immediate parent undertaking is Somerset Park Holding UK Ltd, incorporated in England and Wales.