Sale & Leaseback Limited

Directors' Report for the Year Ended 28 February 2025

The directors present their report and the financial statements for the year ended 28 February 2025.

Principal activity

The company did not trade in the current or prior year.

Directors of the company

The directors who held office during the year were as follows:

T J Evans (resigned 2 April 2025)

S L Gumm

N M Leslau

The following director was appointed after the year end:

B Walford (appointed 2 April 2025)

Statement of directors' responsibilities

The directors acknowledge their responsibilities for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements 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 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.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 3 November 2025 and signed on its behalf by:
 

......................................... S L Gumm Director

Sale & Leaseback Limited

Statement of Comprehensive Income for the Year Ended 28 February 2025

The company did not trade during the year or the preceding financial year. During these years, the company received no income and incurred no expenditure and therefore did not make profit nor loss.

Sale & Leaseback Limited

(Registration number: 06275379)
Balance Sheet as at 28 February 2025

	Note	2025 £	2024 £
Current assets
Debtors	4	1	1
Total assets less current liabilities		1	1
Net assets		1	1
Capital and reserves
Called up share capital	5	1	1
Shareholder's funds		1	1

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

	The 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 3 November 2025 and signed on its behalf by:
 

......................................... S L Gumm Director

Sale & Leaseback Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1	General information

The company is a private company limited by share capital, incorporated in England. The registered office address is shown on page 1.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A Small Entities and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

3	Director information

The company had 3 directors during the year (2024 - 3). The directors did not receive any remuneration in the year (2024 - £nil).

4

Debtors

	2025 £	2024 £
Amounts due from parent undertaking	1	1

5	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary share of £1 each	1	1	1	1

Sale & Leaseback Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

6	Contingent liabilities and related party transactions

In September 2014 the company entered into a Deed of Novation, under which Prestbury Investment Holdings Limited ("PIHL") transferred all of its right, obligations and liabilities as guarantor, under a finance agreement between BJSB Limited and Kaupthing Singer & Friedlander ("KSF"), to the company. The oustanding guarantees amounted to US$8.5 million (£5.2 million) at the date of novation. Following that transaction, in September 2014 Holetown Partnership acquired KSF's interest in the finance agreement. PIHL has a beneficial interest of 50% in both BJSB Limited and Holetown Partnership.

7	Parent undertaking and ultimate controlling party

The company's immediate parent undertaking is Prestbury Investment Holdings Limited, incorporated in England, with registered office at Cavendish House, 18 Cavendish Square, London, W1G 0PJ.

 The company's ultimate parent undertaking is Yoginvest Limited, incorporated in England, with registered office at Cavendish House, 18 Cavendish Square, London, W1G 0PJ.

 Neither company prepares consolidated financial statements on the basis that each is the parent undertaking of a small group.

N M Leslau is the ultimate controlling party of Yoginvest Limited and the company.