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Registered number:
For the Period Ended
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STONEBRIDGE REAL ESTATE DEVELOPMENT LTD
Company Information
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STONEBRIDGE REAL ESTATE DEVELOPMENT LTD
Contents
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STONEBRIDGE REAL ESTATE DEVELOPMENT LTD
Directors' report
For the Period Ended 27 December 2025
The directors present their report and the financial statements for the period ended 27 December 2025.
The directors are responsible for preparing the Directors' report and the 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 Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company 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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors who served during the period were:
The auditors, Crane & Partners Audit LLP, were appointed during the period and have indicated their willingness to continue in office in accordance with section 485 of the Companies Act 2006
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
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STONEBRIDGE REAL ESTATE DEVELOPMENT LTD
Directors' report (continued)
For the Period Ended 27 December 2025
This report was approved by the board on
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STONEBRIDGE REAL ESTATE DEVELOPMENT LTD
Independent auditors' report to the members of STONEBRIDGE REAL ESTATE DEVELOPMENT LTD
We have audited the financial statements of STONEBRIDGE REAL ESTATE DEVELOPMENT LTD (the 'Company') for the period ended 27 December 2025, which comprise the Statement of income and retained earnings, the Balance sheet 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).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
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 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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STONEBRIDGE REAL ESTATE DEVELOPMENT LTD
Independent auditors' report to the members of STONEBRIDGE REAL ESTATE DEVELOPMENT LTD (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 Directors' report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
∙the Directors' report has been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' report.
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STONEBRIDGE REAL ESTATE DEVELOPMENT LTD
Independent auditors' report to the members of STONEBRIDGE REAL ESTATE DEVELOPMENT LTD (continued)
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STONEBRIDGE REAL ESTATE DEVELOPMENT LTD
Independent auditors' report to the members of STONEBRIDGE REAL ESTATE DEVELOPMENT LTD (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 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:
We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have a direct determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 and taxation legislation. We identified the greatest risk of material misstatements on the financial statements from irregularities, including fraud, to be the valuation of investment properties, completeness of amounts owed to group undertakings, override of controls by management and inappropriate revenue recognition. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, reviewing accounting estimates for biases, obtaining confirmation of amounts owed to group undertakings, corroborating balances recognised to supporting documentation on a sample basis and ensuring accounting policies are appropriate under United Kingdom Generally Accepted Accounting Practice and applicable law. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may have not detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non- compliance and cannot be expected to detect non-compliance with all laws and regulations. These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.
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.
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.
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STONEBRIDGE REAL ESTATE DEVELOPMENT LTD
Independent auditors' report to the members of STONEBRIDGE REAL ESTATE DEVELOPMENT LTD (continued)
for and on behalf of
Chartered Accountants & Statutory Auditors
Leonard House
5-7 Newman Road
Kent
BR1 1RJ
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STONEBRIDGE REAL ESTATE DEVELOPMENT LTD
Statement of income and retained earnings
For the Period Ended 27 December 2025
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STONEBRIDGE REAL ESTATE DEVELOPMENT LTD
Registered number: 10686926
Balance sheet
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 10 to 17 form part of these financial statements.
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STONEBRIDGE REAL ESTATE DEVELOPMENT LTD
Notes to the financial statements
For the Period Ended 27 December 2025
The company is a private company (limited by shares), incorporated and domiciled in England and Wales.
The company's principal place of business and registered office are located at Lincoln House, 137-143 Hammersmith Road, London W14 0QL.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
The following principal accounting policies have been applied:
The financial statements have been prepared on the going concern basis. The Company's revenue was historically derived from a single customer under a contract that expired in August 2025, and no new revenue contracts have been secured since that date. The directors have assessed the Company's ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements, taking into account the Company's current cash position, forecast expenditure and ongoing efforts to secure new business. On the basis of this assessment, the directors have concluded that no material uncertainty exists in relation to the Company's ability to continue as a going concern and that the going concern basis of preparation remains appropriate.
Revenue from a lease or licence to occupy is recognised in the period in which the rent falls due in accordance with the terms of the lease or licence as adjusted by deferred or accrued income where the rental periods under the lease or licence are not co-terminus with the financial year when all of the following conditions are satisfied: -the amount of revenue can be measured reliably; and -it is probable that the company will receive the consideration due under the lease or license.
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STONEBRIDGE REAL ESTATE DEVELOPMENT LTD
Notes to the financial statements
For the Period Ended 27 December 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial
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STONEBRIDGE REAL ESTATE DEVELOPMENT LTD
Notes to the financial statements
For the Period Ended 27 December 2025
2.Accounting policies (continued)
Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting date.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
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STONEBRIDGE REAL ESTATE DEVELOPMENT LTD
Notes to the financial statements
For the Period Ended 27 December 2025
2.Accounting policies (continued)
Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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STONEBRIDGE REAL ESTATE DEVELOPMENT LTD
Notes to the financial statements
For the Period Ended 27 December 2025
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STONEBRIDGE REAL ESTATE DEVELOPMENT LTD
Notes to the financial statements
For the Period Ended 27 December 2025
The 2025 valuations were made by professional valuer, H&W Property valuers, on an open market value for existing use basis.
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STONEBRIDGE REAL ESTATE DEVELOPMENT LTD
Notes to the financial statements
For the Period Ended 27 December 2025
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STONEBRIDGE REAL ESTATE DEVELOPMENT LTD
Notes to the financial statements
For the Period Ended 27 December 2025
Revaluation reserve
Profit and loss account
The Bank of Mauritius has placed Silver Bank Limited under conservatorship. As part of this action, the Conservator has temporarily suspended all repayments or withdrawals of deposits, outward transaction requests from account holders, and the settlement of other liabilities until further notice. At the time the bank was placed under conservatorship, the total balances in the affected accounts stood at £65,675.
The company's immediate parent undertaking is General Mediterranean Holding (UK) Limited ("GMUK") and the company's ultimate parent undertaking is General Mediterranean Holding SA SPF ("GMHSA"), a company registered in Luxembourg whose registered office is 3A, Rue Thomas Edison, L-1445 Strassen, Luxembourg, Grand-Duche de Luxembourg.
No group undertakings prepare consolidated financial statements which are publicly available. The company's ultimate controlling party is Sir Nadhmi Auchi.
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