South Gare Developments Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Statement of Changes in Equity	4
Notes to the Unaudited Financial Statements	5 to 10

Company Information

Directors

Mrs Laura Jean Rutherford

Mr Keith Rutherford

Registered office

7 Lorton Road
Redcar
Cleveland
TS10 4LY

Accountants

Chuhan and Singh Partnership Limited
Chartered Accountants81 Borough Road
Middlesbrough
TS1 3AA

South Gare Developments Ltd

(Registration number: 09319904)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	-	2,715,404
Investment property	5	3,358,401	-
		3,358,401	2,715,404
Current assets
Debtors	6	14,751	(1,286)
Cash at bank and in hand		14,834	26,833
		29,585	25,547
Creditors: Amounts falling due within one year	7	(1,319,746)	(1,320,182)
Net current liabilities		(1,290,161)	(1,294,635)
Total assets less current liabilities		2,068,240	1,420,769
Creditors: Amounts falling due after more than one year	7	(532,518)	(327,943)
Provisions for liabilities		(79,498)	(34,560)
Net assets		1,456,224	1,058,266
Capital and reserves
Called up share capital		100	100
Revaluation reserve		373,473	-
Other reserves		264,327	264,327
Retained earnings		818,324	793,839
Shareholders' funds		1,456,224	1,058,266

South Gare Developments Ltd

(Registration number: 09319904)
Balance Sheet as at 31 March 2026 (continued)

For the financial year ending 31 March 2026 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 22 September 2026 and signed on its behalf by:

.........................................
Mrs Laura Jean Rutherford
Director

.........................................
Mr Keith Rutherford
Director

South Gare Developments Ltd

Statement of Changes in Equity for the Year Ended 31 March 2026

	Share capital £	Revaluation reserve £	Retained earnings £	Total £
At 1 April 2025	100	-	793,839	793,939
Profit for the year	-	-	397,958	397,958
Transfers	-	-	(264,327)	(264,327)
Revaluation	-	264,327	-	264,327
At 31 March 2026	100	264,327	927,470	1,191,897

	Share capital £	Retained earnings £	Total £
At 1 April 2024	100	656,405	656,505
Profit for the year	-	137,434	137,434
At 31 March 2025	100	793,839	793,939

South Gare Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	General information

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

The address of its registered office is:
7 Lorton Road
Redcar
Cleveland
TS10 4LY

These financial statements were authorised for issue by the Board on 22 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.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

South Gare Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

2	Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

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
Land & Buildings	Nil

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.

South Gare Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

2	Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2025 - 1).

4	Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 April 2025

2,715,404

2,715,404

Disposals

(2,715,404)

(2,715,404)

At 31 March 2026

-

-

Depreciation

Carrying amount

At 31 March 2026

-

-

At 31 March 2025

2,715,404

2,715,404

Included within the net book value of land and buildings above is £Nil (2025 - £2,715,404) in respect of freehold land and buildings.

South Gare Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

5	Investment properties

	2026 £
Additions	2,939,990
Fair value adjustments	418,411
At 31 March	3,358,401

There has been a valuation of the Investment properties by an independent valuer.

South Gare Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

6

Debtors

Current	2026 £	2025 £
Trade debtors	14,751	(1,286)
	14,751	(1,286)

7

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	9	444,997	71,554
Trade creditors		20,136	15,868
Amounts owed to group undertakings and undertakings in which the company has a participating interest		805,006	1,188,681
Taxation and social security		7,162	3,816
Accruals and deferred income		2,420	2,247
Other creditors		40,025	38,016
		1,319,746	1,320,182

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	9	532,518	327,943

South Gare Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

	Revaluation reserve £	Retained earnings £
Surplus/deficit on property, plant and equipment revaluation	373,473	(373,473)

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

9	Loans and borrowings

Non-current loans and borrowings

	2026 £	2025 £

Bank borrowings	532,518	327,943

Current loans and borrowings

	2026 £	2025 £

Bank borrowings	444,997	71,554

	Land and buildings £	Total £
Cost or valuation
At 1 April 2025	2,715,404	2,715,404
Disposals	(2,715,404)	(2,715,404)
At 31 March 2026	-	-
Depreciation
Carrying amount
At 31 March 2026	-	-
At 31 March 2025	2,715,404	2,715,404